SCRM platform Prewave raises EUR 63 million in Series B financing
Vienna — The SCRM platform Prewave has received 67 million US dollars (63 million euros) in a Series B financing round. The round was led by the investment company Hedosophia and included investments from existing investors Creandum, Ventech, Kompas, Speedinvest and Working Capital Fund. The funds will be used to shape the next phase of Prewave’s growth. In addition, further product research and development based on the company’s proprietary AI technology will help to achieve the goal of becoming the world’s only platform for super intelligence in the supply chain.
According to Prewave, it uses the possibilities of AI to integrate superintelligence into the supply chain in order to make companies’ supply chains more transparent, compliant and resilient. It identifies 140 types of risk on a global level and supports companies in managing them. These include issues that affect resilience and cause disruption (natural disasters, financial stress, cyber risks, accidents and legal issues), sustainability and ESG risks, as well as compliance with a growing number of national and international regulations.
Strong growth in Europe
According to the company, it has grown rapidly due to strong demand across Europe and tripled its turnover in 2023. More than 200 companies, including Ferrari and Dr. Oetker, already use Prewave in their SCM.
Harald Nitschinger, Co-Founder and Managing Director of Prewave said: “We are seeing strong demand from leading European brands who recognize that Prewave can help them protect their reputation, improve their performance and increase their profitability. This funding will allow us to accelerate our global expansion, with the US market being our top priority.”
“We want to make supply chains more transparent, more resilient and more sustainable,” adds his co-founder Lisa Smith, who laid the foundations for Prewave with her doctoral thesis in computer science.
Sabina Wizander (photo © Creandum), Partner at Creandum comments: “We have seen during the pandemic how vulnerable global supply chains can be. Complete transparency in the supply chain is one of the top priorities of the company’s management, particularly in view of increasing regulation, geopolitical instability and climate change. Prewave has developed the best product to meet these requirements. This is also reflected in the feedback from customers. Prewave has strong momentum and this new investment will help to accelerate the company’s growth.”
About Creandum
When we founded Creandum in 2003, the opportunities in Europe were not as great as they are today. There were few real venture capitalists, most entrepreneurs and venture capitalists did not think it was possible to build global technology companies from Europe, and the US share of global venture capital investment was dominant. We had no idea that we would open hubs in Stockholm, Berlin, London and San Francisco by 2023, that the Creandum funds would have raised USD 1.7 billion and invested in more than 130 companies in the seed and Series A phase. Today, we are proud that one of six companies in the portfolio is a unicorn, including Spotify, Depop, iZettle, Bolt, Trade Republic and Klarna.
https://creandum.com/