Tradeverifyd announces Series A round to transform the standard for global supply chain risk
BOZEMAN, Mont., Jan. 28, 2025 /PRNewswire/ -- Tradeverifyd announced that it has raised an $8m Series A round led by Silicon Road VC and Bread & Butter Ventures, with participation from Acronym, Techstars, and a100x.
Tradeverifyd is redefining the intelligence standard for global enterprise supply chain risk management. The solution evolved over the prior year at mesur.io as a way to bring advanced capabilities developed for government customers to the enterprise. Tradeverifyd provides an advanced AI-driven platform designed to automatically identify and help teams mitigate supply chain risks. The solution is tailored for senior leaders in compliance and procurement aiming to protect their operations from supply chain disruptions and regulatory non-compliance.
"The challenges faced by global companies today are increasing faster than anyone thought possible. Climate change, geopolitics, and uncertainty in the markets is forcing companies to dive into the details of how their supply chains work, and where risks might arise at a level of detail that was not previously required. By partnering with our investors, we are positioning Tradeverifyd to scale to meet the demand we are seeing from the market." said Michael Prorock, Founder and CEO.
Tradeverifyd's exponential growth comes at a critical time when supply chain risks and compliance concerns are increasingly in the spotlight. Recent developments, such as the enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) in the United States and the Supply Chain Due Diligence Act (LkSG) in Germany, as well as talks around changing tariffs and export restrictions, have heightened the need for comprehensive supply chain risk management solutions. The average annual cost of major supply interruptions to an enterprise is $228m, a number that since Covid has forced enterprises to take notice and look for solutions.
"There are more environmental and regulatory supply chain risks for anyone engaged in international trade today than ever before," said Bread and Butter Ventures Managing Partner Brett Brohl. "It has become more costly for large companies to manage these challenges, and the consequences of failing to do so are significant. Tradeverifyd partners with corporations that need help solving these challenges, leveraging AI and a deep understanding of global supply chains."
"Mesur.io's Tradeverifyd addresses 'Surety of Supply,' one of the most important topics for manufacturers and retailers of all varieties in the United States," added Sid Mookerji, Managing Partner at Silicon Road Ventures. "Particularly given the changing geopolitical alignments today, using mesur.io's tech could be the difference between getting merchandise on the shelf in time for significant holidays (e.g., Christmas) and missing out on the opportunity to maximize sales. We at Silicon Road believe that Tradeverifyd will transform supply chains worldwide in the months and years to come."
The company's Tradeverifyd Score provides a consistent way to measure each supplier's ability to deliver the particular products and volumes they have committed to. This includes their compliance and financial posture, as well as examining their suppliers all the way back to raw materials for both long- and short-term risks.
"Without a solid foundation in machine learning, Tradeverifyd would not be able to deliver accurate quantitative analysis," Prorock added. "AI, enabled by LLMs, provides us the ability to effectively scale sourcing and compliance teams exponentially. Our AI agents are able to make decisions about information gathering, analysis, and recommendations on their own -and to make those decisions in a way that is informed by actual subject matter experts both in the field and within a particular organization. This means that our AI is effectively 'personalized' in its decision making for the needs of our customers. This is a huge breakthrough and advantage, and lets Tradeverifyd scale our data processing and analysis delivery at a level that would typically require an order of magnitude more resources. As a result, we can pass this value onto our customers."
Tradeverifyd will use the new funding to accelerate go to market efforts across the enterprise and to improve support for supply chain leaders responding to changing regulations and compliance needs.
Tradeverifyd, with headquarters in Bozeman, MT, and strategic locations globally will serve as the go-to partner for enterprises to achieve excellence in digital supply chain transformation as they move from reactive to proactive modes of reducing supply chain risk.
For more information, visit https://tradeverifyd.com/
Media Contact: Chris Marley, chris.marley@mesur.io
View original content to download multimedia:https://www.prnewswire.com/news-releases/tradeverifyd-announces-series-a-round-to-transform-the-standard-for-global-supply-chain-risk-302361394.html
SOURCE Mesur.io