Everstream, a start-up that enables supply chain visibility and risk mitigation in the enterprise space, recently announced it has raised $24M in its Series B funding.
Everstream is dedicated to bringing more transparency to the highly complex and ever-changing supply chain, so companies can more quickly and efficiently respond to disruption and keep their business operations running smoothly. This funding will help Everstream continue to expand its platform and further make digital supply chains more accessible.
We’ll take a look at how they plan to use the funds and what other implications it may have.
Everstream Raises $24M to Conquer Supply Chain Complexity and Disruption
Everstream, LLC is a supply chain software solutions provider that has recently received a $24 million round of funding. This additional capital will provide the company with added resources and flexibility needed to further develop their innovative software products.
Through their cutting-edge supply chain technology, Everstream strives to provide unparalleled visibility into the real-time operations of their customers’ supply chains, allowing them to monitor and analyze events in order to plan proactively against potential negative issues.
The new funding round will provide Everstream with the ability to create an even more integrated, dynamic supply chain that can address the complexities of current transportation problems. Additionally, the resources from this influx of funding will aid in product development that allows for unparalleled customer optimization and customization for an effortless user experience. With future plans for expansion into international markets, Everstream is positioned to become one of the leading supply chain companies on a global scale.
How the Funding Will Be Used
Everstream recently raised $24 million in order to help the company to tackle supply chain complexity and disruption. This influx of capital will allow the company to invest in innovative technologies, such as AI and machine learning, to better manage logistical operations. Additionally, the company can utilize this funding to scale their operations, develop new products, and expand into new markets.
Let’s explore how this funding will be used.
Expansion of Everstream’s supply chain platform
Everstream, a supply chain optimization and predictive analytics provider, recently raised $24M in Series B funding to help support the expansion of their software platform. The company plans to use part of the funding to focus particularly on expanding its Everstream Control Tower platform.A key part of this expansion plan is the expansion of partners in the supply chain from current partners like Amazon and Salesforce to new suppliers within the retail, logistics, and e-commerce industries. Expanding partnerships will give Everstream access to more real-time data that can be used for forecasting purposes.
In addition, this new funding will also help Everstream launch additional software products including a freight forwarding module for international shipping and a shipment tracking system for shippers. This tracking system will allow shippers to track their shipments from origin to destination in near real time. By having access to more accurate information about where their orders are at any given point in time, companies can improve customer service levels by providing faster shipment lead times with greater accuracy than ever before.
With improved visibility across its supply chain platform, Everstream believes it can provide better data insights that enable customers to make better decisions on how they interact with their supply chains and customers around them. This improved visibility helps companies increase efficiency while also reducing costs associated with mismanaged shipments or delays related to delays beyond their control. Ultimately, these improvements should result in healthier bottom lines for all businesses involved in modern supply chains as well as more satisfied end customers who receive timely deliveries of their orders at competitive prices.
Investment in new technology
Everstream announced the global expansion of its platform, Everstream Operations, with a $24 million investment. This investment will be used to develop groundbreaking new technologies that help businesses manage their global supply-chain operations in an unpredictable and fast-changing market. Additionally, this funding will enable Everstream to continue to leverage its proven ability to quickly provide effective solutions that help enterprises tackle supply chain complexity and disruption with greater agility.
The new technologies that are made possible through this funding round are designed to automate operational processes, improve decision making and provide predictive visibility into supply-chain and logistics operations. With these resources, Everstream aims to develop customer-focused products for the digital supply chain including Continuous Delivery Iterative Development (CDID), the first platform of its kind offered by Everstream. Through CDID there is greater accuracy around data warehousing, architecture design and delivery capabilities. Other new technologies include; a cloud platform integration which provides an efficient method for automation of sales order fulfilment process management; a real-time asset tracking solution; as well as customised learning models powered by machine learning algorithms integrated into real world data sets.
The addition of these investments combined with a customer centric approach will further position Everstream as the leading provider in digitally transforming business operations across the ever changing global landscape and beyond.
Expansion of customer service team
Everstream plans to use the $24M in funding to expand its customer service team. This team will be responsible for delivering the highest levels of customer satisfaction and product expertise. The team’s focus will be on helping customers better manage complexity, supply chain disruption, and globalization. They will help customers strategize, implement global solutions, and build resilient supply chains.
Additionally, they will help customers identify new opportunities to improve efficiency and drive cost savings by leveraging advanced software solutions. As part of this package, they also plan to add new software features and capabilities which will allow customers to have increased control over their supply chain processes. These features include improved demand planning algorithms that provide accurate forecasts in real-time, automated notification systems that alert users when changes in demand occur, and enhanced analytics capabilities that provide insight into performance optimization strategies.
In order to maximize customer utility from these services, Everstream plans on hiring experienced customer service professionals who understand the intricacies of supply chain operations as well as qualified software engineers who can develop custom applications that are tailored to each company’s needs.
Benefits of the Funding
Everstream recently raised $24M in funding to help focus their efforts on conquering supply chain complexity and disruption. With this new funding, the company is hoping to use the capital to expand its network of suppliers, optimize their technology stack, and build out their data infrastructure.
In this article, we’ll explore the many potential benefits of the new funding and how it will help the company meet their goals.
Increased efficiency in supply chain operations
With the newly raised funding, Everstream plans to use the capital to increase efficiency in its supply chain operations and provide more value for its customers around the world. This capital injection will give Everstream the resources necessary to expand its technology and global logistics services capabilities. By investing in operational and technological improvements, Everstream hopes to unlock tremendous cost savings for their customers, by providing real-time visibility into global goods movements, predictive analytics, sophisticated forecasting algorithms and cost optimization engines.
With this additional funding, Enhanced Automation Technologies (EAT) will be incorporated into Everstream’s operations with a focus on streamlining processes such as customs clearance management, shipment tracking and logistics coordination.
Everstream understands that no two shippers have the same requirements when it comes to supply chain operations. Their promise is to provide customized solutions that bring scalability and innovation across their customer’s entire global supply chain process regardless of complexity. The new funding will allow them to invest even further into customizing solutions tailored to each customer’s unique needs. With this latest round of investment, they look forward to advancing their service offering by focusing on quality rather than quantity as they continue developing ways for shipping lines, terminals as well as truckers make better decisions faster through efficient automation technology powered strategies designed specifically to meet different user needs.
Improved customer service
Everstream Plans To Use Its New Funding to improve customer service and offer better value for money. The company will leverage its capital infusion to develop innovative products, acquire new customers, expand geographic reach, and provide its customers with the highest level of customer service.
Improved customer service will enable Everstream to serve an increasingly diverse range of organizations. With a focus on helping companies optimize their supply chains, Everstream will create greater visibility of tracking goods across the globe, provide real-time insights into product integrity, and actively monitor disruptions in supply chains.
By offering better value for money through improved customer service, Everstream expects to strengthen its position in the increasingly demanding marketplace.
Increased visibility into supply chain data
With the recent $24M in funding, Everstream has significantly increased its ability to forge ahead with the development of technology that supports a seamless and transparent supply chain experience. In particular, the funding will be used to expand their data collection capabilities and offer an unprecedented level of visibility into supply chain operations. With Everstream’s advanced data analytics platform, companies are empowered to gain insight into their distribution costs, inventory levels, and other important performance indicators. Having access to real-time supply chain data helps companies make better decisions related to inventory management and cost savings.
It’s likely that this influx of capital will help further the development of technologies like artificial intelligence (AI) and machine learning that enhance automation throughout the supply chain. AI-enabled solutions have been proven to have a positive impact on logistics processes by optimizing scheduling of transportation resources, reducing transport costs for shippers through spot rate auctions, simplifying cargo collections for truckers, and mitigating disruptions caused by unforeseen events like inclement weather. As Everstream continues to invest in its solutions suite, it is likely that they will continue to introduce new features that drive sustainability along with greater efficiency across the entire supply chain ecosystem.
Challenges
Since Everstream has recently raised $24M to build out its technology and expand its services, they may face several challenges as they move into the next chapter of their company’s growth.
With the new funds, they will have to make sure they are using the money wisely and that they can handle the complexities and disruptions that come with the supply chain industry.
Let’s look at some of the potential challenges that Everstream may face.
Integration of new technology
As companies like Everstream confront the complexity and disruption in their supply chains, one of the most significant challenges is integrating new technology. To avoid introducing additional stress points, it can be important for an organization to recognize which aspects of the supply chain still require manual intervention and which can be automated. Additionally, businesses must identify the areas in which machine learning and AI can provide value, from forecasting demand to inventory management.
Using this new round of funding, Everstream will explore how to best integrate predictive analytics into its existing tech stack. The company aims to deploy a system that does not simply provide a snapshot of how operations are presently running but comprehends shifting market dynamics and customer demands in real time — automatically responding where it makes sense — with minimal disruption to the supply chain. Furthermore, Everstream intends on leveraging predictive analytics software that can detect patterns and potential delays before they happen or divert materials during an unforeseen event so orders are not impacted. Utilizing machine learning models can also reduce overall shipping costs as well as minimize potential customer frustrations due to any service disruptions as much as possible.
Training staff on new technology
Everstream’s recent $24M investment will be used for the company’s ambitious plan to tackle supply chain complexity and disruption. One of the key ways that Everstream will leverage this funding is to scale up their staff training on new technologies.
An essential part of Everstream’s strategy is making sure their personnel are properly trained and knowledgeable on innovations in data science, logistics, analytics, AI, machine learning, automation and other digital tools that will create value in the supply chain.
This is particularly important given the fast-paced changes in technology at present and in the near future. With the right skillsets among their staff, Everstream can become a leader in navigating changes with agility and efficiency. They can take full advantage of cloud computing so they don’t have to rely on physical infrastructure or constantly update hardware. They also aim to improve customer service capabilities by integrating artificial intelligence into normal workflows. These steps will enable them to rapidly implement new ideas while keeping up with shifts and spikes in demand from customers as well as any unexpected issues that may arise from disruptions such as pandemics or natural disasters.
Managing customer expectations
For Everstream, one of the greatest challenges that comes with the newly secured funding is to manage customer expectations. The disruption the company will experience within their supply chain requires a delicate balance, as a cohesive strategy must guide customers throughout this transition period and beyond. In order to accomplish this, Everstream must provide comprehensive information about their mission and goals as well as become transparent with any potential changes or obstacles that may result from their new strategy.
Additionally, Everstream must ensure that customers are prepared for any potential disruptions in service or changes in order fulfillment and delivery timescales. As part of this effort, customers should be encouraged to engage with employees throughout the process: from the initial proposal phase through implementation and follow-up support. This direct engagement helps facilitate a smoother transition and encourages familiarity with new procedures or technologies before they are required.
Finally, teams should use metrics and analytics to gain further insights into customer initiatives, understand what individual needs require focus or attention and employ strategies accordingly during implementation. Keeping close tabs on these measurements will demonstrate dedication to providing quality products and services while also maintaining strong customer relationships during such a complex undertaking.