Supply chain interruptions now seem to be a dime a dozen. From shipping boats stuck in canals to global conflicts, supply chains are delicate systems that can be disturbed by events large and small and end up costing sizable sums to remedy. While solving supply chain disruptions doesn’t fall on the companies shipping their goods, they can strategically plan ways to reduce the impact of these disruptions.
Based in Finland and Chicago, Sievo is one of the companies helping navigate supply chain disruptions with data. On Monday, it secured $44 million in equity funding from Susquehanna Growth Equity.
To help companies navigate the rocky waters that come with shipping their goods, Sievo developed a SaaS data platform that provides data on things such as spend analysis, material forecasting and lifecycle management. The goal of the platform is to give companies insight and enterprise-level data into market conditions to better prepare for unforeseen supply chain-disrupting events.
“In just the last few years, there have been substantial supply chain shocks emerging from several events such as Covid-19, the conflict in Ukraine … and the recent rise of inflation.” Sammeli Sammalkorpi, CEO and co-founder of Sievo, said in a statement. “Companies cannot predict every event — but the companies that are quickest and most strategic to react and make the right decisions will have the competitive advantage against slower-moving peers. The dire need among enterprises for faster and deeper data and analytics could not be more apparent amid the current environment.”
With the new funding, Sievo is looking to grow its Chicago-based team along with its client base. According to the company’s LinkedIn, Sievo has a local headcount of about 32 employees based in Chicago.
