Supply Wisdom, a leader in continuous risk intelligence and risk actions, has announced that it has closed an institutional funding round led by Fulcrum Equity Partners with participation from Florida Funders. Supply Wisdom will leverage the investment to scale vertical and geographic adoption of its patented solution, which equips companies to prevent and mitigate supply chain disruptions by monitoring third-party risks in real time.
“The increasing severity and frequency of supply chain and third-party risks proves the need for continuous, full-spectrum risk monitoring,” said Atul Vashistha, Founder and CEO, Supply Wisdom. “We have experienced incredible growth throughout the pandemic as organizations acutely felt an urgent need to fundamentally change how they approach risk. This investment enables us to build on our current success and accelerate our growth. We are very excited to bring Fulcrum on board as an investor and strategic partner.”
Supply Wisdom is an AI-enabled risk management solution that is transforming the third-party and supply chain intelligence space by continuously monitoring the widest risk aperture in the market. Unlike traditional point-in-time assessments that only cover a limited scope of risks, Supply Wisdom enables enterprises to assess all risk domains within their supply chain – including financial, cyber, operations, ESG, people, location, compliance, and Nth parties – in real time.
“The best approach to preventing disruptions is real-time and continuous full-spectrum risk intelligence,” said Jim Douglass, Partner, Fulcrum Equity Partners. “The outdated models that companies have been relying on to manage their supply chain and third-party risk failed to prevent disruptions during the pandemic. We invested in Supply Wisdom because their solution leverages the latest automation and technology including AI, data science and machine learning to modernize the risk management space.”
“After leading Supply Wisdom’s seed round, we’re thrilled to participate in this follow-up alongside Fulcrum Investments,” said Tom Wallace, Managing Partner at Florida Funders. “With the global supply chain experiencing major disruptions, technologies like Supply Wisdom are vital to streamlining processes for maximum efficiency. Our experience combined with Supply Wisdom’s accelerated growth and traction has given us the full confidence in the team and the company’s next chapter.”
“I’m delighted to have Fulcrum and our previous investor Florida Funders join this round to support Supply Wisdom’s growth,” said Shelley Leibowitz, Board of Directors, Supply Wisdom. “The market opportunity is immense for supply chain insight, and we are pleased to have investors who have operating experience to continue to support our rapid expansion. We were highly impressed with Fulcrum’s success working with other GRC technology companies and the way Fulcrum approaches their portfolio investments with their commitment to getting them to the next stage.”
In 2020, Supply Wisdom was granted Patent No. 10,643,165B2 by the USPTO for its unique and innovative risk management solution. The following year, Supply Wisdom was named Third-Party Risk Product of the Year by the Risk.net 2021 Risk Technology Awards and awarded a Gold Globee® for Risk Management Solution Innovation by 2021 Golden Bridge Business and Innovation Awards. Supply Wisdom clients include Global 2000 firms in financial services, insurance, health care, life sciences, utilities, technology, and many other sectors.
To learn more about Supply Wisdom, please visit https://www.supplywisdom.com/.