ESG Firm Sphera Acquires SupplyShift as Part of Effort to Expand Further into the Supply Chain Space

Sphera, one of the world’s top environmental, social and governance (ESG) performance and risk management software providers announced on Wednesday that it had acquired SupplyShift who is considered by many to be a pioneer in supply chain sustainability software. The acquisition is only the latest such move by Sphera, who is owned by alternative investment manager Blackstone, as they acquired German-based risk methods, who provides anAI-driven supply chain software as a service (SaaS), back in October.

Founded in Santa Cruz, CA back in 2012 by Alex Gershenson andJamie Barsimantov, both with PhDs in Climate Science and Environmental Economics. They identified a shift in companies’ focus toward sustainability, and set out to seize the opportunity and fulfill that need.

As a software vendor they provide:

·     A cloud-based end-to-end supply chain data management

·     Responsible Sourcing

·     A Supplier Engagement Platform

As a software innovator and provider, SupplyShift has accumulated a vast network that contains more than 100,000 suppliers. This platform:

·          Allows buyers and suppliers to disclose information to manage risk and facilitate supplierregulatory compliance

·          Provides supply chain transparency and supplier mapping

·          Generates data analytics, supplier scoring, and traceability

Gershenson, cofounder and CEO, said in Sphera’s press release announcing the acquisition that "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 Sphera Cloud, 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."

Sphera

The acquisition for Sphera, a global leader in ESG software solutions, improves their offering in supply chain by expanding capabilities in supplier mapping, scoring, and traceability. According to Paul Marushka, the president and CEO of Sphera, "SupplyShift has seen tremendous growth with its software solution that allows for direct communication with suppliers and customers and enables the seamless collection of their Scope 3 emissions data, which helps suppliers improve their supply chain ESG performance. As more regulations are passed that demand transparency, the SupplyShift solution will become indispensable in meeting global regulatory requirements and stakeholder expectations. Bringing SupplyShift's portal into the Sphera family will expand our current offerings and enable us to provide unparalleled Scope 3 and ESG tracking and reporting capabilities. We are pleased to welcome SupplyShift's customers, colleagues and solution to Sphera and look forward to helping our combined customer base accurately track and report their Scope 3 emissions and be compliant."

Sphera, acquired by Blackstone back in 2021 in a deal which had Sphera valued at $1.4M, has helped more than 7000 customers and more than a million users across 80 countries maintain safety, sustainable products, and productive operations for more than three decades. They accomplish this by providing performance and risk management platforms, data, as well as consulting services for:

·          Environment, Health, Safety, and Sustainability (EHS&S)

·          Operational Risk Management (ORM)

·          Product Stewardship

·          Supply Chain Risk Management (SCRM)

Two Blackstone executives, Senior Managing Director Eli Nagler and Managing Director Kelly Wannop, commented "We are excited to welcome SupplyShift to Sphera and continue investing in this company's innovative solutions. This planned acquisition supports our commitment to Sphera's accelerated growth and will bolster the company's supply chain capabilities for its customers moving forward."

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