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Everstream, a provider of data on supply chain sustainability, has raised $50 million in funding

Everstream Analytics, a provider of supply chain insights and risk analytics, announced today that it has received $50 million in financing to accelerate supply chain sustainability through innovation in operational risk and ESG performance.

Everstream uses artificial intelligence and predictive analytics to procurement, logistics, and business continuity platforms, allowing companies to achieve more autonomous and sustainable supply chains through the generation of more complete information, analysis, and predictions. Everstream claims that its solutions can help businesses show compliance with supply chain due diligence regulations all over the globe, as well as reduce emissions through intelligent logistics recommendations.

The financing comes on the heels of the company's significant growth, with bookings doubling year over year in 2022 for the second year in a run. Danone, Abbott Laboratories, Boston Scientific Corporation, and Intertape Polymer Group are among Everstream's customers.

Everstream CEO Julie Gerdeman stated:

"2023 has already been a watershed moment for Everstream, and we're only halfway through the first half." This financing comes as we ramp up our product innovation and execute quickly and effectively to advance supply chain sustainability, which is more important than ever."

Morgan Stanley Investment Management's (MSIM) 1GT private equity platform and global private markets investment company StepStone Group led the Series B funding round. Morgan Stanley launched 1GT in November 2022 to invest in climate solutions businesses with the goal of reducing CO2 emissions by 1 billion tonnes (1 gigaton) by 2050.

MSIM's Head of Climate Investing and 1GT, Vikram Raju, stated:

"We seek to invest solely in companies that offer products or services to address time-sensitive carbon impact issues while meeting fiduciary obligations to their investors." We are pleased to support Everstream's ongoing innovation in assisting businesses around the globe in making measurable, meaningful progress in emissions reduction while maintaining the profitability of their supply chains."

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