December 21, 2021
Santa Cruz, CA
SupplyShift, the leading platform for sustainable supply chains, has secured a growth round of funding to accelerate development of their suite of supplier sustainability tools and deliver new products to customers. Led by Buoyant Ventures, with participation from HSBC, Impact Engine, AiiM Partners, Working Capital, Valuestream Ventures, and Supply Chain Ventures, the investment will support SupplyShift’s continued success in delivering solutions to some of the biggest challenges facing businesses today: climate change, sustainability, and social responsibility.
Between ambitious commitments coming out of COP26, the Intergovernmental Panel on Climate Change’s (IPCC) Sixth Assessment Report, and a host of new international ESG regulations, corporations and financial institutions are facing immense pressure to take quick and decisive action on social and environmental sustainability issues. With supply chains making up the largest share of sustainability impacts in many industries, companies are focusing on supplier practices as one of their biggest opportunities to improve their overall sustainability performance.
“Supply chains have become the next frontier for businesses that take climate and other sustainability risks seriously. Data and digitization are critical pieces of that puzzle — if you don’t know where your blind spots are, you can’t fix the issue,” said Allison Myers, Co-founder and General Partner at Buoyant Ventures. “SupplyShift has a strong track record of illuminating those areas of high sustainability impact for their customers, and with this round we’re excited to see how they continue to innovate in the space.”
With over 90,000 business entities on the platform, SupplyShift operates the world’s largest network for supply chain sustainability. The funding will support SupplyShift’s efforts to further grow its supplier network while delivering new innovative solutions to challenges in supply chain greenhouse gas reduction, environmental sustainability, and social responsibility. They will also expand their technology to support organizations of all sizes, and will provide new solutions for private asset managers, supplier engagement, sustainability-driven supplier financing, and supplier improvement.
“Our goal is to help businesses transition to net zero, so we’re working with buyers and suppliers around the world to effect positive change,” said Chris Hickman, sustainability lead for HSBC Commercial Banking. “As well as providing our own expertise and finance to our customers, we’re delighted to be working with partners like SupplyShift who share our desire to harness the power of data to enable more sustainable decision-making.”
“All of our investors are truly value-add partners who help accelerate the business,” said Alex Gershenson, CEO and Co-founder of SupplyShift. “I’m really excited to work with Buoyant Ventures in further developing our climate solutions, and with HSBC to roll out tools for our customers and their suppliers to enable change and improvement.”
About SupplyShift
SupplyShift is the supply chain sustainability platform for creating more transparent, lower risk, higher-performing supply chains. Engage, assess, and collaborate with suppliers in a single platform, unifying your data to uncover insights and take action toward your supply chain sustainability goals.
Join a network of over 90,000 businesses driving supply chain sustainability at supplyshift.net.
Media contact:
SupplyShift
Lawerence Kelly
Product Marketing Manager
Buoyant
Allison Myers
Co-founder and General Partner
HSBC
Flora Muniz-Lovas
Communications Manager
