|Vienna (Austria), May 9th: Prewave, the supply chain risk management and compliance platform used by hundreds of clients, including BMW, PwC, and Lufthansa, secured 18m Euro in funding in a Series A+ by leading European VC Creandum, a backer of Europe’s leading tech companies including Spotify, Klarna, and SEON.
The strong Series A investment led by KOMPAS and Ventech in 2022 is now followed up with a Series A+ to take Prewave from a platform that identifies risks, to an action platform that proactively addresses and resolves risks within supply chains.
Sabina Wizander, Partner at Creandum: “Increased disruption, political instability, consumer consciousness and changing regulation uncover the painful truth that current supply chain risk management is not serving the complex environment in which we live. Prewave has built a first of its kind solution that allows companies to take action on their supply chain in real-time. Its dynamic supplier risk score creates much-needed transparency. This is why we are excited to lead Prewave’s Series A+ round. Prewave is an end-to-end solution that allows companies to take control of their supply chain. High customer demand across industries and geographies reflects the need for their solution and we are excited to back Lisa, Harald and team.”
Prewave strives to be the all-inclusive solution for managing supply chain risks, covering every phase of the risk lifecycle. By identifying, analyzing, mitigating, and reporting risks, the platform ensures a complete end-to-end approach for a more transparent, resilient, and sustainable supply chain of the future. Under the leadership of Dr. Lisa Smith and Harald Nitschinger, Prewave delivers a dynamic supplier risk score, derived from big data supply chain analysis. It allows companies to monitor their entire supply chain and equip users with the ability to execute corrective and preventive measures, minimizing risk and enhancing individual supplier performance. Consequently, they can effortlessly adhere to international regulations such as the German Supply Chain Act and the forthcoming European Supply Chain Due Diligence Directive.
As co-founder Harald Nitschinger puts it: “Prewave started 2022 with a team of 20 employees, but as a testament to its remarkable growth and success, the company has now exceeded 100 employees. This expansion mirrors the substantial revenue increase Prewave has experienced over the last year. As of now, Prewave has pioneered a comprehensive solution for supply chain risk monitoring and compliance, that establishes Prewave as first mover and a key player in the supply chain risk discipline. Now the time has come to become the first true, end-to-end operating system for supply chain risk.”
Original article HERE