Supply chain intelligence and risk analysis startup Everstream Analytics has raised $50 million to drive operational risk and ESG performance innovation and accelerate supply chain sustainability.
The funding will be used to apply AI and predictive analytics to procurement, logistics and business continuity platforms. The company aims to enable businesses to achieve more autonomous and sustainable supply chains by generating complete information, analysis and predictions.
Everstream’s solutions can help businesses comply with supply chain due diligence regulations worldwide and reduce emissions through intelligent logistics recommendations.
Morgan Stanley Investment Management’s 1GT private equity platform and global private markets investment firm, StepStone Group, co-led the Series B funding round, which followed a doubling of year-over-year bookings for the company in 2022, for the second year in a row.
Morgan Stanley launched the 1GT private equity platform in November 2022 to invest in climate solutions companies that will eliminate 1 billion tons (1 gigaton) of CO2 emissions by 2050.
Everstream’s clients include Danone, Abbott Laboratories, Boston Scientific Corporation, and Intertape Polymer Group.
“Everstream is helping companies around the world make measurable, meaningful progress in emissions reduction,” said Vikram Raju, MSIM’s Head of Climate Investing and the 1GT Platform. “Our platform is exclusively for companies that provide products or services to address time-critical carbon impact issues, while meeting fiduciary obligations to their investors. Everstream supports this goal by helping sustainable supply chains remain profitable while reducing emissions and we’re excited to see how the company grows to further achieve this mission.”
“2023 has already been momentous for Everstream, and we’re not even through the first half. This funding comes when we are doubling down on our product innovation and executing rapidly and decisively to advance supply chain sustainability, which is more critical now than ever,” said Julie Gerdeman, CEO of Everstream. “I’m grateful to our customers, investors, partners and team for their trust and collaboration as we champion this modern-day supply chain revolution.”