Sphera Acquires SupplyShift, a Pioneer in Supply Chain Sustainability Software
Santa Cruz based company, SupplyShift has been acquired by Sphera.
In a significant move for the world of environmental, social, and governance (ESG) performance, Sphera, a renowned provider of ESG software, data, and consulting services, has recently acquired SupplyShift. This acquisition is a game-changer for businesses aiming to enhance transparency and resilience in their supply chains.
SupplyShift, established in 2012 and based in Santa Cruz, California, has revolutionized supply chain sustainability. It operates a vast network with over 100,000 suppliers, offering a platform where buyers and suppliers can exchange information swiftly, manage risks, and comply with regulations. The company's comprehensive solution includes supply chain transparency, supplier mapping, data analytics, supplier scoring, and traceability. With a diverse client base ranging from global retailers to Fortune 500 companies, SupplyShift is a pivotal player in supply chain sustainability.
Paul Marushka, CEO and President of Sphera, highlighted the significant growth of SupplyShift, particularly its software solution that facilitates direct communication with suppliers and customers. This integration enables efficient collection of Scope 3 emissions data, crucial for improving supply chain ESG performance. SupplyShift's solutions will be vital for meeting global regulatory requirements and stakeholder expectations.
Alex Gershenson, CEO and founder of SupplyShift, expressed excitement over joining Sphera. He emphasized SupplyShift's commitment to leveraging software for driving sustainability initiatives over the past 11 years, aiding companies in understanding their supply chain ESG risks and performance.
”So grateful to have built this company in Santa Cruz, this ecosystem and environment of experts, passionate interpreneurs, an amazing investors is really the best place to build a world-class business. Really looking forward to continue the supply shift story with an amazing company.” Alex Gershenson
This journey started at TechRaising, a Santa Cruz hackathon 11 years ago. One of the attendees of the hackathon was Craig Vachon, CEO of AI Redefined. At the time, the concept seemed improbable, yet he still invested into the startup.
“I met Alex and Jamie at a Santa Cruz hackathon and told them that I didn’t think their business idea was any good. (Yes, I can be an idiot). Nonetheless, we stayed in touch and 18 months later I led an angel round of investment. The founders’ and their remarkable team’s passion and resilience has never been a question. SuShi is making our world a better place, and this acquisition is proof of the value they bring. Santa Cruz is the perfect location for responsible startups.” Craig Vachon
For those interested in the finer details of this acquisition, read the official press release. It provides an in-depth look at the implications of this merger for the ESG landscape and the future of sustainable supply chain management.
About Sphera
Sphera is the leading provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management (ORM), Product Stewardship and Supply Chain Risk Management (SCRM). For more than 30 years, we have served over 7,000 customers and a million-plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
About SupplyShift
SupplyShift is a leading provider of supply chain sustainability and responsible sourcing solutions, enabling companies to measure, monitor and improve their environmental, social and economic impact across the supply chain. Through its cloud-based platform, SupplyShift offers a suite of tools and services designed to help businesses identify risks, uncover opportunities and drive positive change in their supply chains. For more information, visit www.supplyshift.net.