In light of increasing regulation regarding supply chain transparency, such as the Supply Chain Due Diligence Act (LkSG), the market in which Integritynext operates is growing rapidly. The Munich-based company's cloud-based software platform is already used by more than 200 customers, including Siemens Gamesa, Infineon, SwissRe, Kion, and Hilti. Nearly one million suppliers in more than 190 countries have been monitored via the platform. The startup's partners include Celonis, Coupa and SAP.
EQT is investing €100 million in Integritynext through its EQT Growth fund. Co-founders Martin Berr-Sorokin (CEO), Simon Jaehnig (CRO), and Nick Heine (COO), who have built the company through bootstrapping since 2016, will continue to lead the company.
Integritynext: “Transparency and sustainability in the supply chain are becoming a must-have”
Integritynext intends to use the fresh capital to further consolidate its market position and invest in its technology platform. Martin Berr-Sorokin, CEO and co-founder of Integritynext, says:
"The critical importance of ESG is not a new concept for modern companies. However, with the entry into force of a whole range of legal regulations – such as the German Environmental Protection Act (LkSG) or the EU's CSRD – transparency and sustainability in the supply chain are evolving from a nice-to-have to a must-have. As more and more customers place their trust in us and we embark on the next phase of growth, we are delighted to partner with an experienced and hands-on investor with European roots and global reach like EQT Growth."
Dominik Stein, Partner at EQT, who will join Integritynext's Advisory Board, says:
"Integritynext's technology provides a streamlined and automated way for customers to monitor and certify their supply chain for ESG risks. With their innovative product and strong presence in their home market of Germany, they are well positioned to expand across Europe, having already built a comprehensive proprietary supplier database. We look forward to working with Martin and the entire Integritynext team to further increase supply chain transparency."
