Is your intelligence static when your risk is dynamic?
Fulcrum Equity Partners, an Atlanta-based growth equity firm, has announced an investment in Supply Wisdom, a global technology company that provides continuous third-party risk intelligence, monitoring, and actions for enterprises with global supply chains. The new funding will spur Supply Wisdom’s growth in building their go-to-market strategy, scaling their management team, pursuing tuck-in acquisitions, and increasing customer success.
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Founded in 2017 with global headquarters in New York and India, Supply Wisdom’s platform leverages artificial intelligence and machine learning to cover seven key risk domains: financial, cyber, operations, ESG, compliance, Nth Party, and location. By delivering continuous risk monitoring across these seven domains on a single platform, Supply Wisdom prevents and mitigates business disruptions via immediate notifications of significant events.
“We are seeing significant industry shifts from one-time assessment frameworks to continuous risk intelligence and we’re excited to partner with Atul and his strong leadership team with deep third-party risk experience,” states Fulcrum Partner Jim Douglass. “The company’s strong growth, deep expertise serving global enterprise customers in the financial services, insurance and healthcare industries, and growing market leadership is reflective of Supply Wisdom’s vision to bring the most innovative technology to its customers.”
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In a Deloitte survey, 84% of enterprises reported a third-party incident in 2019 that caused a business disruption indicating the growing need to mitigate risk exposure before it’s too late. Because managing risk is about prevention rather than reaction, the survey suggests a more intelligent risk-based approach using emerging technologies such as real-time ongoing monitoring and risk sensing to provide actionable intelligence, instead of being in a “firefighting” mode and only tackling issues when they arise.
Supply Wisdom Chairman and CEO Atul Vashistha, a recognized expert on globalization, outsourcing, and governance, says, “We are very excited to work with Fulcrum and strongly believe their deep software roots, operating experience, and industry connections will allow us to continue our vision of keeping a 24/7 pulse on the entire risk landscape, including ESG, location, people and geopolitical risk.” Vashistha adds, “When risk alerts are provided in real-time, procurement and risk leaders can quickly mitigate the threat before harm is done. Learning that a third party across the world has been accused of greenwashing, procurement can quickly re-source to a more sustainable partner – or take steps to help the supplier get on track.”
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