Last Tuesday, Sphera announced that they would be acquiring one of our portfolio companies, SupplyShift. From their Santa Cruz roots, the business grew to over 100,000 suppliers on the platform and became the "go to" place where buyers and suppliers engaged and shared information in order to manage risk and facilitate supplier regulatory compliance. As the ESG segment continues to heat up, we are delighted that Alex, James, and the team are able to continue to build and scale under the Sphera banner. The quote below from Alex lays out the continued vision for the platforms. We wish the entire SupplyShift team continued success and can't thank them enough for allowing us to join them on their journey!
"SupplyShift was founded on the idea of leveraging software to drive sustainability initiatives, and for 11 years we have been empowering companies to understand their supply chain ESG risk and performance. We are excited to join the Sphera family and take data availability to a new level through the combination of Sphera’s industry-leading ESG data and SupplyShift’s Scope 3 data collection abilities. Through SpheraCloud, Sphera’s SaaS platform, and its LCA solutions, we can help even more customers track their Scope 3 emissions and manage their supply chain sustainability."
