riskmethods closes Series B funding round
by Rolf Zimmer
It’s not every day that I get to write a blog post about riskmethods, let alone a post that riskmethods has received 13.5 million euros in funding, but that day is today, and what a day it is. I am thrilled to announce that we have closed a Series B funding round lead by Digital+ Partners as the lead investor, bringing our total funding to more than 20 million euros. This funding will allow riskmethods to continue innovating and cement our position as the market-leader for supply chain risk management solutions.
Looking at where we began and where we are now is both inspiring and humbling for both me and my co-founder, Heiko Schwarz. Back in our Emptoris days, we knew that new advances in Big Data and AI made preventing and mitigating supply chain disruptions easier and cheaper, but we also began to think that supply chain risk was ready for an Uber or smartphone-like disruption. After consulting and collaborating with colleagues and industry experts, many of whom are now members of the riskmethods’ executive team, we knew we had an idea that would change how organizations approached and managed risk in their supply chains. Four years later, our two-person “office” is now 70+ people with offices in Germany, Poland and the US.
Find someone who cares and understands your vision
Closing a round of funding is a long and arduous process, but the process is more than raising funds; just as important is finding an investor that acts as an advisor. Funds from an investor is the lifeblood of any startup, but smart and honest advice from an investor who understands your vision and cares about your company – that’s invaluable. There was immediate chemistry with Digital+ Partners, and we quickly decided that they were the perfect partner. We were also thrilled that all of our investors from our Series A funding joined this most recent round. To have the continued support of EQT Ventures, Senovo and Bayern Capital means more than I can say.
Going through the Series B process not only taught me that a surprising amount of fundraising is collecting documents, organizing documents, tracking down more documents…but every time I surfaced from my investigative document hunt, I was astonished by how much the company and product had grown. Not only had we released two new modules, but we were now a truly international company with a North American headquarters in Boston and a full US team to service the North American market.
Our customers and employees are fantastic – end of story
None of this would be possible without our remarkable customers and employees. They are not only the visionaries and pioneers of supply chain risk management, but they are smart, hardworking, loyal AND fun to work with. It is a privilege to partner with them, and I can’t thank them enough for their constant support and friendship. Our customers are fantastic, end of story.
As for the riskmethods team (aka riskbusters), it is a privilege to work with such intelligent, diligent, if slightly zany individuals. I truly look forward to going into work and seeing them, and I am constantly amazed by what they accomplish. I couldn’t be prouder of them or more excited to see how they will use this funding to raise riskmethods to even greater heights. Raising 13.5 million euros is a testament to their talent, dedication and drive.
You can read the full release of our funding announcement here, but I once again thank our customers, partners and riskbusters for getting us to where we are today and where will be in the next weeks, months and years.