The supply chain risk analysis firm Everstream Analytics has raised $50 million in backing to fuel the development of its risk and performance insight products.
The “series B” round was 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.
San Marcos, California-based Everstream says it applies artificial intelligence (AI) and predictive analytics to anticipate and mitigate a broad spectrum of global supply chain risk. Client firms can use that data to boost operational performance in areas like demonstrating compliance with supply chain due diligence regulations, driving emissions reduction through intelligent logistics recommendations, and gaining predictive capabilities in climate change, the firm says.
That capability to predict and cope with climate impacts in a changing world was a leading reason for the backing from Morgan Stanley Investment Management’s 1GT Platform, which is focused on investment into private companies whose activities aim to collectively prevent or remove one gigaton of carbon dioxide equivalent (CO2e) emissions from the Earth’s atmosphere through 2050.
“Everstream is helping companies around the world make measurable, meaningful progress in emissions reduction,” Vikram Raju, MSIM's Head of Climate Investing and the 1GT Platform, said in a release. “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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