Riskmethods assesses $14.7m series B

Bayern Kapital, which previously backed a $6m series A round just over a year ago, has returned to invest in Riskmethods’ series B round.

Riskmethods, a Germany-based supply chain software technology developer, has closed a €13.5m ($14.7m) series B round that included Bayern Kapital, the investment arm of the state government of Bavaria.

The round was led by Digital+ Partners, while EQT Ventures and Senovo also contributed.

Riskmethods has developed a cloud-based platform to help businesses identify and evaluate issues within a global supply chain in near real-time. Companies can take appropriate measures through the platform to mitigate issues.

The platform relies on a combination of artificial intelligence, machine learning and big data.

The money will go towards further international expansion efforts, help expand the partner network and customer services. The company will also invest in product development and hire more staff, with the aim of doubling its employees this year.

Riskmethods has now raised more than €20m, according to the latest press release. Bayern Kapital previously participated in a $6m series A round in February 2016 alongside Senovo, EQT Ventures and Point Nine.

Bayern Kapital also backed a $2m funding round in 2014, alongside Point Nine and a private investor. Bayern Kapital had already contributed to a €900,000 funding round with Point Nine earlier that same year.

Rolf Zimmer, co-founder and chief executive of Riskmethods, said: "With this new injection of capital, Riskmethods is taking a major step towards achieving our goal of global market leadership in the segment of supply chain risk management.

"Successful supply chain risk management provides a real competitive advantage and contributes decisively to a company’s success. After setting up our subsidiary in Boston last year, we are now concentrating on strengthening international marketing and global distribution."

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