Interos joins the unicorn club, raising $100M in Series C at over $1B valuation
At a Glance
Interos, a supply chain risk management SaaS provider, has turned unicorn raising $100M in Series C funding from NightDragon. It works towards mitigating supply chain disruptions, both cyber and physical
Interos, a provider of a SaaS platform leveraging artificial intelligence to manage supply chain risks, has attained unicorn status, raising $100 million in Series C funding led by NightDragon at over $1 billion valuation, a press release from the company said.
Existing investors, Kleiner Perkins and Venrock, participated in the funding round. With this funding, Interos also joins the list of female-led unicorns, (female founder CEOs run only 4 percent of unicorn startups). Interos raised its Series B funding in 2020, where it netted $20 million. With the close of Series C, the total funding raised by the company to date has crossed $128.4 million, as per Crunchbase.
Interos is a provider of AI and SaaS-delivered supply chain risk management solutions. It offers its services to the US Federal government and the private sector. It plans to use the proceeds from the funding to accelerate its business when companies worldwide are exposed to supply chain vulnerabilities.
Jennifer Bisceglie, CEO of Interos, stated that COVID-19 and digital supply chain disruptions in the last year caused boards of directors and other leaders to wake up to the tremendous impacts they have on operational resilience, business performance and reputation.
Manual and annual supply chain risk monitoring is urgently moving to automated and continuous, and that can only be accomplished through AI/ML-based technology. This funding will allow us to accelerate our mission of helping organizations fix supply chain issues before they cause operational disruptionJennifer Bisceglie, CEO of Interos
Interos revealed that it logged a compound annual growth rate (CAGR) of 303 percent in the last two years and over a two-fold increase in its annual recurring revenue in 2020. Its employees have grown about 132 percent in number over the same period.
Commenting on the funding, Dave DeWalt, founder and managing director of NightDragon, stated that NightDragon had witnessed how supply chain risk was a major gap for cybersecurity and business resiliency in the past year. Expressing delight at the funding, Mr. DeWalt added,
We are proud to partner with Interos to accelerate their business and help companies around the world close the gap when it comes to supply chain risk.Dave DeWalt, founder and managing director of NightDragon