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5 April 20232 minute read

DLA Piper advises Everstream in US$50 million Series B funding

DLA Piper represented Everstream Analytics, a global supply chain insights and risk analytics company, in a US$50 million Series B funding round co-led by Morgan Stanley Investment Management and StepStone Group, with participation from existing investor Columbia Capital.

Through the application of artificial intelligence to its vast proprietary dataset, Everstream delivers predictive insights and risk analytics for businesses to create smarter, more autonomous and sustainable supply chains. The secured funding will fuel Everstream’s cutting-edge supply chain risk and performance intelligence.

“We were pleased to bring to bear our extensive knowledge of the supply chain industry to advise Everstream on this funding round, which will help our client continue to deliver its industry-leading insights and analytics,” said Eric Grossman, the vice chair of DLA Piper’s Private Equity group and the partner who led the firm’s deal team.

Julie Gerdeman, CEO of Everstream, added, “This investment round provides us with the opportunity to accelerate our product innovation to increase global supply chain resilience and sustainability. DLA Piper’s team consistently offered a practical, strategic approach and a strong understanding of our company’s needs.”

In addition to Grossman (Northern Virginia), the DLA Piper team representing Everstream included partners Tom Hendershot (Northern Virginia) and Anil Kalia (Palo Alto); of counsel Michael Cubell (San Francisco); and associate Daniel Rosenberg (Washington, DC).

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers who provide strategic counsel to emerging companies in high-growth industries, including technology, healthcare, pharma & biotech, financial services, manufacturing, and communications. Over the last three years, DLA Piper has completed more than 2,100 financings globally totaling over US$80 billion.