AI-powered unicorn company transforming the way global companies manage supply chain resiliency
Interos, the fast-growing operational resilience company, announced a record-breaking performance in 2021 that lays the groundwork for continued rapid growth in 2022 and beyond.
Fueled by increased market demand for its AI-powered supply chain risk management technology, Interos logged a compound annual growth rate of 232% in the last three years. Over the past year, it saw an increase in its bookings by 115%, grew its customers by 181% and recorded a 127% growth in the number of employees. The company also expanded internationally, establishing sales, marketing, and operations teams in Europe.
Platform with a new CX-driven core
Interos’ breakthrough SaaS platform harnesses the power of artificial intelligence to map, monitor and model global supply chains in real time. It is the world’s only living map of the supply chain – spanning 345 million entities and 18 billion business relationships. The platform helps organizations pre-emptively detect and eliminate risks, including cyber, financial, ESG and others, preveting damage and insulating large companies from disruptions that cost an average of $184 million annually.
Interos’ latest enhancements to its platform visualization and continuous monitoring functionality make it easier than ever for global businesses to instantly understand their exposure to physical and digital supply chain vulnerabilities. The enhanced graph visualization is a first-of-its-kind network-based view of a company’s entire supplier ecosystem. 24×7 monitoring enables customers to receive tailored alerts warning of critical exposure deep within their supply chain, enabling them to act pre-emptively.
“We’re 100 percent focused on the customer experience. It’s about giving procurement, cybersecurity, and supply chain leaders the tools and insights to build greater agility and resilience into their supply chains to prevent future crisis,” said Vinay Kapoor, Senior Vice President of Product at Interos.
The Methodology for ESG in the Supply Chain
With ESG concerns at the top of the list for many corporate executives and consumers, the Interos platform now has enhanced multi-tiered ESG methodology that provides an improved level of granularity for scoring. The ESG risk measure focuses on a company’s environmental impact, gender equity and workforce conditions, and corporate governance.
Businesses are under increasing public scrutiny and are expected to hold suppliers to the highest standards of ethics and compliance. To remain competitive, organizations need to embrace a proactive approach to ensure a sustainable supply chain. A recent research report found that 37% of businesses struggle to obtain the data to measure supplier sustainability, with 41% of respondents reporting detrimental impacts from ESG risks over the past two years.
“Organizations want a sustainable supply chain – they just don’t have the reliable information and the continuous monitoring technology needed to make this a reality,” said Jennifer Bisceglie, CEO and Founder of Interos. “Our research shows that, while most companies engage with their tier-one suppliers on sustainability, only 9% do so with those in tiers two and three. Interos helps businesses track the ESG risks of their extended supply chain to help them ensure they work with other companies and suppliers who meet their ethical and environmental standards by providing them with intelligent tools to increase trust and transparency.”
Top technology investors and partners reinforce company vision
In the past year, Interos raised over a $100 million Series C round led by NightDragon, building on prior investment rounds from leading technology venture capital firms Kleiner Perkins and Venrock, and others. In 2021, strategic key industry partners – including Accenture (through its Ventures’ Project Spotlight program) and Coupa Ventures – joined the Series C round, which vaulted Interos to unicorn status, achieving a valuation of more than $1 billion. Only 4% of female-founded startups globally accomplish this feat.
“Interos was founded 17 years ago this month with the mission of bringing trust and transparency to supply chains long before the topic became front-page news and a global business imperative,” added Bisceglie. “We’ve seen incredible growth that validates the urgent challenge supply chain management has become.”
New distinguished members join Interos Board of Advisors
Interos also today announced the addition of two new distinguished members to its Board of Advisors: Edna Conway and Sir Chris Deverell. Ms. Conway is currently the Vice President, Security, Risk & Compliance for Microsoft’s Cloud Infrastructure, and Sir Chris is the former Commander of the United Kingdom’s Joint Forces Command, and now advises and invests in technology businesses.
“Supply chain visibility and operational resilience technologies are critical in addressing the challenges we are experiencing today,” said Conway. “I am very excited to share my expertise with the team at Interos as they continue to help companies mitigate risk and safeguard their operations.”
“The past two years have highlighted the vulnerability of the global supply chain,” added Deverell. “The good news is that the tools now exist to offset disruptions, through the magic combination of AI, publicly available information, and skilled people who can help businesses proactively react to the situation. I look forward to supporting this exciting company as they continue to grow and help organizations to achieve supply chain resilience.”
“Edna and Chris will bring great perspective and I am so pleased to have them on our Board,” said Bisceglie. “Their experience will be invaluable as we accelerate our expansion and continue to provide the best solution to our customers,” concluded Bisceglie.