Munich-based IntegrityNext, a sustainability software platform, announced on Thursday that it has secured €100M from the EQT Growth fund (EQT Growth) after bootstrapping for seven years.
IntegrityNext says it will use the funds to expand its core product to serve upcoming European regulations and cement its position within Germany.
EQT Growth also intends to partner with IntegrityNext, and further invest in the tech platform to support the acceleration of the product offering and position it for long-term success.
Making supply chains transparent and compliant
Founded in 2016 by Martin Berr-Sorokin (CEO), Simon Jaehnig (CRO), and Nick Heine (COO), IntegrityNext empowers businesses to meet regulatory ESG requirements, manage ESG risks, and improve supply chain sustainability.
The platform assesses risk and monitors a large portion of the client’s supply chain for ESG metrics and compliance, allowing them to meet stakeholder demands and regulatory requirements.
IntegrityNext claims its cloud-based software platform is used by over 200 customers, including Siemens Gamesa, Infineon, SwissRe, Kion, and Hilti.
The company monitors almost 1 million suppliers in more than 190 countries.
The German company has also partnered and integrated with leading enterprise software tools, including Celonis, Coupa, and SAP, allowing it to offer supply chain assessments across numerous industries.
Martin Berr-Sorokin, CEO and co-founder of IntegrityNext, says, “The critical importance of ESG is not a new concept to modern businesses. However, as a raft of regulatory frameworks – like Germany’s LkSG or the EU’s CSRD – begin to take effect, supply chain transparency and sustainability is evolving from a nice-to-have to a must-have.”
“As more clients entrust us and we embark on our next stage of growth, we’re excited to be partnering with an experienced and hands-on investor with European roots and global scale like EQT Growth,” adds Sorokin.
Supporting growth-stage technology firms
EQT Growth is an investment strategy of EQT, a global investment organisation with €113B in assets under management within two business segments – Private Capital and Real Assets.
Based in five countries across Europe, EQT Growth supports leading growth-stage technology companies.
The VC invests around €50M to €200M, backing strong management teams of companies within four tech sub-sectors – enterprise, con/prosumer, health, and climate.
As a part of the funding, Dominik Stein, Partner in the EQT Growth Investment advisory team will join IntegrityNext’s Advisory Board.
Stein says “IntegrityNext’s technology provides a streamlined and automated way for customers to easily monitor and certify their supply chain for ESG risks.”
“Their cutting-edge product and large footprint in their home market of Germany position them well to expand across Europe, as they have already built a significant proprietary supplier database,” adds Stein.
