riskmethods, one of the world’s leading providers of solutions to identify, assess, and mitigate global supply chain risk, has successfully completed its Series-B financing round with an investment of €13.5 million. The round was led by Digital+ Partners, with previous Series A investors, EQT Ventures, Senovo and Bayern Capital joining the round and bringing riskmethods’ total investment to date to more than €20 million. The funding will help the Munich-based company with further international expansion, and to strenghten the leading position within the market of supply chain risk management solutions.
riskmethod was founded in 2013, and its’ cloud-based technologies enable global organizations to identify and evaluate challenges within the supply chain in near real-time, and to initiate appropriate countermeasures if necessary. Using AI, machine-learning algorithms and Big Data, riskmethods helps its customers avoid revenue loss, loss of production, and reputational damage linked to supply chain issues at a time when progressive globalization, relocation to new markets, national and international regulations, and political unrest are increasing the risks along the supply chain.
Rolf Zimmer, the CEO and co-founder of riskmethods stated: “With this new injection of capital, riskmethods is taking a major step towards achieving our goal of global market leadership in the segment of supply chain risk management. Successful supply chain risk management provides a real competitive advantage and contributes decisively to a company’s success. After setting up our subsidiary in Boston last year, we are now concentrating on strengthening international marketing and global distribution.”
The young company will use the funding to expand its partner network and customer success functions, as well as investing in further product and solutions development and expanding its workforce. riskmethods expects to double the number of people it employs in 2017.
The new lead investor, Digital+ Partners is an experienced growth equity investor, specializing in investments in fast-growing technology companies within the IndustrialTech and FinTech sectors. Dirk Schmücking, Partner at Digital+ Partners, stated: “riskmethods is well on its way to become the global market leader for SCRM solutions. We were particularly impressed by the company’s over 90 high-profile international customers from a broad range of industries, its market-leading technology, the steep growth trajectory in new and existing business as well as the significant potential for network effects in the business model. The scalability of riskmethods’ SCRM cloud solution and strong commercial traction in Europe and North America, together with this new financing, provides a solid base for continued exponential growth.”