With new investor Morgan Stanley Investment Management joining the round and increased commitment from existing investors Columbia Capital, StepStone Group, and DHL, Everstream’s $24M Series A round financing comes on the heels of a significant acceleration in company growth.
To date in 2022, we’ve increased our customer base by 550% and welcomed new banner clients, including AB InBev, KIOXIA, Shaw Industries, Whirlpool, and more. The capital raised will propel innovation and further global expansion while we continue to outpace the competition.
“Today, more than ever before, a baseline understanding of supply chain risk is critical for any company working with partners and suppliers, but it is not enough. For a company to succeed, it must be able to anticipate disruption and base complex business decisions on reliable, intelligent data,” said Michael Carroll, Morgan Stanley Investment Management. “We are pleased to be a part of Everstream’s growth strategy as it continues to strengthen its position as a source of supply chain predictive risk analytics.”
Everstream’s accelerated adoption by global companies speaks to the strong demand for the application of artificial intelligence (AI) in combination with deep subject matter experts and data science. Our global customer base includes some of the world’s largest brands – like Google, DuPont, Bayer, Unilever, and Schneider Electric – who are committed to building the smartest and most sustainable supply chains.
“Shaw was looking for a partner in our multi-year journey towards end-to-end predictive and prescriptive supply chain insights. We chose Everstream in large part due to their vision for this and our belief that they have the capabilities and investor support to achieve it,” said Kevin O’Meara, VP Integrated Supply Chain at Shaw Industries. “The insights provided by Everstream allow Shaw to deepen our commitment to deliver for and delight our customers in a world full of risk.”
We recently expanded our predictive analytics platform to provide visibility deep within the supply chain, allowing companies to map, monitor, assess, predict risk and strengthen even the most complex global supply chains. Everstream Discover is powered by proprietary data, AI, and graph technologies. One of our recent hires, Nidhi Chopra is the new Vice President of Product. Chopra brings an extensive background in product strategy and vision and will continue Everstream’s path of accelerated innovation.
As part of our increased focus on partners and alliances, Everstream has appointed Andy McGuire as Head of Global Alliances. With existing partners, including SAP, Accenture, Oracle, and more, McGuire will lead efforts to penetrate new market segments and accelerate revenue growth through new strategic partnerships.
This latest round of funding was facilitated in partnership with DLA Piper.