Everstream, a company that uses big data to optimize physical supply chains, has raised $50 million in a Series B round led by Morgan Stanley’s 1GT Fund, with participation from StepStone Group and Columbia Capital. The funding will be used to aid product development, customer success efforts, and the hiring of new team members.
This fresh round of investment comes just short of a year after the company raised $24 million from DHL. Everstream has already managed to increase its revenue by 30 times from when Columbia Capital initially invested three years ago. This is due in part to the attention that shareholders have recently been giving to the overall supply chain industry. In March alone, IntegrityNext was funded $109 million from EQT Growth and Overhaul received $73 million in funding.
Everstream leverages big data by combining supply chain data with AI and analytics to generate risk scores. These scores are based on the material, supplier, and facility levels. Everstream also integrates with enterprise systems such as vendor relationship management, transportation management and enterprise resource planning.
The massive global disruptions caused by COVID-19 and other events has pushed the supply chain industry into the spotlight, where resilience has become a key factor for many companies. Data from Capgemini shows that 43% of organizations are planning to increase their supply chain investments. Despite these trends, however, funding for supply chain startups have fallen 56% year-over-year in Q3 2020 compared to the second quarter of the year.
Julie Gerdeman, CEO of Everstream, has highlighted how the company’s success is also linked to its data-driven technology. Its AI-based predictions and analytics power the platform, while real-time insights from a global network of partners enable a complete view of factors that may affect a company’s supply chain. It even leverages a team with deep expertise in meteorology, to help organizations in making decisions related to where to build their factories, based on such factors as climate change and access to water and heat.
Everstream’s advanced ESG tools also measure commodity risks and human rights violations, such as forced and child labor, particularly from areas like the Xinjiang Uyghur Autonomous Region in China. Companies around the world, from Google to Bayer, Medtronic, Boston Scientific, and AB InBev, have taken advantage of Everstream’s services with the company already having over 200 enterprise customers.
The Person: Julie Gerdeman
Julie Gerdeman is the CEO at Everstream Analytics. She has extensive experience with supply chain management and serves as a mentor for various STEM initiatives, inspiring young minds in the field. Working at Everstream, she has tried to bridge the gap between private and public sectors to address supply chain challenges. Under her guidance, Everstream has grown exponentially over the past few years and plans to grow its 200-person workforce by 10% to 15% this year.
The Company: Everstream Analytics
Everstream Analytics is a big data-based technology that aids organizations in optimizing their physical supply chains. Its unique approach to data analysis uses AI and analytics to generate scores based on material, supplier and facility levels. It has an extensive database consisting of hundreds of simultaneous systems, allowing it to detect potential risks, including everything from weather disruptions to insolvencies. With 200 enterprise customers across the globe that trust Everstream, the company has raised $50 million in funding with plans for expanding its team by 10-15% this year. Julie Gerdeman serves as the CEO of Everstream Analytics.
