Supply chain insights and risk analytics firm Everstream Analytics, officially known as Resilience360 Inc., said today it has closed on a $50 million funding round.

Morgan Stanley Investment Management’s 1GT private equity platform co-led the Series B round together with StepStone Group, with existing investor Columbia Capital also participating.

Everstream offers a cloud-based platform that helps enterprises to predict, assess and mitigate the risk of supply chain disruption. It does this with a combination of artificial intelligence and data analytics technologies that help to track risk, while using performance indicators to ensure business continuity and create risk profiles. With its platform, enterprises can monitor and respond to potentially disruptive events, while visualizing, tracking and protecting their business operations.

In addition, the company helps companies to improve their environmental, social and governance performance and demonstrate compliance with numerous supply chain due diligence regulations, such as the Uyghur Forced Labor Prevention Act. It also claims to provide deeper predictive capabilities in areas like climate change, thanks to its vast, proprietary datasets and data science expertise.

Everstream reckons it has been enjoying significant growth over the past couple of years, doubling its year-over-year bookings for two years in a row and enjoying a record quarter at the end of 2022, though it didn’t reveal specifics. It boasts some big name customers too, with brands such as Anheuser-Busch InBev S.A., Whirlpool Corp., Danone S.A., Abbott Laboratories LLC and Boston Scientific Corp. currently using its platform to manage their supply chain risk. It also has a growing partner ecosystem, where it collaborates with technology firms such as SAP SE, Accenture Plc. and Oracle Corp.

Chief Executive Julie Gerdeman said the company had gotten off to a momentous start in 2023 as well. “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,” she said.

Morgan Stanley Investment Management’s 1GT Platform is a fund that’s focused on private companies. Its activities are aimed at collectively preventing or removing 1 gigaton of carbon emissions from the Earth’s atmosphere by 2050. Vikram Raju, MSIM’s head of climate investing and the 1GT Platform, explained that Everstream is a perfect fit for its portfolio.

“Everstream is helping companies around the world make measurable, meaningful progress in emissions reduction,” Raju said. “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.”

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