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.
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