Company’s hyper-growth reflects significant corporate wins across product, customer and people strategy
SAN MARCOS, Calif. – January 24, 2024– Everstream Analytics, the global leader in supply chain insights and risk analytics, closed 2023 with record-breaking business momentum. Over the last twelve months, the company’s commitment to advancing supply chain agility and resilience worldwide has fueled its corporate growth, product innovation and customer acquisition.
“In 2023, we celebrated the most successful quarter in our company’s history. We pushed the boundaries of AI innovation, dominated the market and solidified our position as the industry’s foremost end-to-end supply chain intelligence platform,” said Julie Gerdeman, CEO of Everstream Analytics. “The world’s most influential companies continue to select Everstream as a partner of choice because we offer unparalleled network visibility and the most precise, relevant intelligence that enables our clients to anticipate risks and optimize performance across even the most complex value chains. Looking ahead, we will expand our influence across the public and private sectors to empower the world’s leading organizations to protect, strengthen, and compete on their supply chains.”
Corporate Growth
Everstream kicked off a series of strategic growth milestones that fuel the company’s mission towards building more agile, resilient, and sustainable supply chains
- Everstream closed a $50M Series B funding round co-led by Morgan Stanley Investment Management as part of its 1GT private equity platform and StepStone Group, with participation from existing investor Columbia Capital. Specifically, the Morgan Stanley Investment Management 1GT Platform funds private companies focused on reducing CO2e emissions.
- The company further expanded its intermodal analytics and global footprint with the acquisition of BlueNode. Leveraging the integrated power of both solutions, customers will benefit through improved data transparency, reliability and availability when making time-sensitive, strategic decisions.
- Boasting an already world-class team of talented supply chain individuals, Everstream expanded its executive leadership team by appointing globally recognized supply chain expert and former Gartner analyst Koray Köse to Chief Industry Officer.
- Additionally, the company welcomed business, tech and supply chain experts to its Executive Advisory Board to help shape its rapid innovation strategy.
Product Innovation
In 2023, Everstream heavily invested in AI-driven product enhancements to maintain its market lead in providing unmatched sub-tier network visibility and the most precise supply chain intelligence through a redesigned user interface and enhanced intuitive UX.
- The company advanced the speed and accuracy of its automated sub-tier discovery solution, uncovering the deepest, most accurate connections and relationships between sub-tier suppliers and the flow of materials across complex global networks.
- Everstream implemented auto-generated incident descriptions using generative AI to scale and support its Intelligent Solutions contextualized insights.
- With progressive parent-company tagging, Everstream furthered its industry-leading media monitoring capabilities to uncover risks and incidents, such as cyberattacks, human rights violations, and insolvencies, across subsidiaries of parent-company suppliers, keeping users ahead of what matters, when it matters, anywhere in their network.
- Everstream advanced its commodity tracking to provide targeted, contextualized reports that enable clients to track the commodities that matter most to their business.
- The company introduced Everstream Connect, offering intelligent mapping and visibility into logistic network flows. With dynamic risk assessment and analytics, Connect measures carbon intensity, alerts users to upstream risks and downstream impacts, and produces optimized route recommendations for the most efficient and sustainable logistics operations.
Client Community Expansion
Global Fortune 1,000 organizations recognized the power of Everstream’s technology and joined its growing client community, including Volvo, Vestas, Jaguar Land Rover, HealthTrust, FM Global, Pfizer, Kenvue, SATS (Country Foods), and Hyster-Yale, among many others. These industry-leading enterprise clients use the platform to inform strategic planning, monitoring, and risk mitigation while gaining visibility deep into their supply chain, revealing potential risks and disruptions before they impact revenue and customers. With more companies embracing multiple solutions in the company’s end-to-end portfolio, Everstream doubled the average share of wallet for new logos in 2023.
A Burgeoning Partner Ecosystem
Recognizing the strength of a collective force, Everstream called upon and was selected by leading industry organizations to advance global supply chain resiliency.
- The company was selected to join SAP.iO Foundry New York, a leading startup accelerator focused on enabling the startup ecosystem to enhance long-term partnerships with SAP.
- To strategically combat the growing severity and ubiquity of forced labor within the global supply chain, Everstream partnered with Slave-Free Alliance and was recognized as the world’s first Slave-Free Alliance-validated modern slavery and forced labor technology risk management solution.
- As ESG performance becomes critical in the face of impending regulations, Everstream and Kearney elevated their partnership to embed rapid and proactive risk detection and response at every tier and stage of supply chain planning.
- Everstream joined the Center for Advanced Manufacturing, a leading industry organization, to advance manufacturing ecosystems through smarter, more resilient, and sustainable supply chains.
Industry Recognition
As a result of Everstream’s successful execution, continued commitment to innovation and profound impact on customers, the company was recognized by various organizations for its impact and achievements.
- Named to Fast Company’s World’s Most Innovative Companies List for 2023.
- Won Supply & Demand Chain Executive’s Top Supply Chain Projects award for Everstream’s collaboration with Medtronic.
- Supply & Demand Chain Executive named Mirko Woitzik, Ulf Venne and Heather Kosztowny among the winners of the 2023 Pros to Know awards, for their exceptional industry expertise and contributions.
- Recognized as one of the year’s Top Tech Startups by Food Logistics and Supply & Demand Chain Executive.
About Everstream Analytics
The world’s best supply chains run on Everstream Analytics. Through the application of artificial intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics businesses need for a smarter, more autonomous and sustainable supply chain. Everstream’s proven solution integrates with procurement, logistics and business continuity platforms generating the complete information, sharper analysis, and accurate predictions required to turn the supply chain into a business asset. To learn more, visit https://www.everstream.ai/.
Contact
Maria Ross
fama PR for Everstream Analytics
[email protected]