Exiger acquires Versed AI to spice up provide chain administration with superior AI expertise

Provide chain and third-party threat AI firm Exiger introduced this week the acquisition of Versed AI. Born out of the College of Cambridge’s Language Expertise Lab, Versed AI’s synthetic intelligence (AI) expertise accelerates the method of extracting and aggregating multi-tier provider networks, creating automated payments of fabric (BOM), and producing proprietary worth chain graph knowledge. 

The combination of Versed AI into Exiger’s provide chain administration platform permits Exiger prospects to quickly broaden multi-tier visibility with entry to unequalled developments in provide chain tracing, orchestration, and mapping. 

“Procurement and provide chain professionals throughout the private and non-private sector are overwhelmed by the quantity of information they need to navigate to fulfill day by day operational and regulatory necessities like tariff evaluation, different vendor sourcing, compelled labor checks, environmental affect assessments, and CSDDD compliance,” Brandon Daniels, Exiger CEO, mentioned in a media assertion. “This acquisition permits us to supply a superbly easy resolution to these challenges.”

Exiger delivers quick, correct, and superior options for provider mapping and threat evaluation – expertise that runs on proprietary knowledge created from open supply content material and BOMs. Versed AI’s functionality additional streamlines this providing, assuaging the burden on procurement groups and negating the necessity for BOMs or technical knowledge packages. Versed AI extracts provider relationships and different insights from publicly out there content material to harmonize the breakdown of a person product into its element elements, creating an artificial BOM for extremely related, product-specific provide chain mapping.

“The addition of this functionality completes the equation by way of what Exiger provides,” added Daniels. “It creates a revolutionary multi-tier visibility resolution that’s holistic, autonomous, and universally deployable for any firm and any product in a price chain, permitting prospects to evaluate the affect of occasions inside their provide chain in a matter of minutes and make knowledgeable choices that ship worth and mitigate threat.”

“We’re excited by the disruptive energy created by combining Versed AI and Exiger’s best-of-breed capabilities,” mentioned Fenella Boyle, Versed AI Co-founder and CEO. “After surveying the aggressive panorama, we really feel strongly that our expertise can have the best affect when deployed inside Exiger’s market-leading AI and throughout their huge and quickly rising buyer base.”

Exiger has already begun integrating the expertise into its provide chain platform and UX 1Exiger. The combination will enrich Exiger’s dataset and improve the operational and multi-tier visibility capabilities of Provide Chain Explorer and SDX, making these options sooner and extra complete. The brand new capabilities will probably be instantly out there to Exiger prospects.

“We’re continuously in search of methods to deploy new applied sciences to resolve the availability chain issues our purchasers are combating,” mentioned Exiger CPO Brendan Galla. “Versed AI’s expertise capabilities and area experience will probably be an unimaginable asset to Exiger and have a direct affect on our prospects.”

“We’re thrilled to affix a corporation that shares our dedication to creating distinctive expertise – not solely to fulfill and streamline day-to-day enterprise calls for however to make the world extra moral and clear,” mentioned Versed AI Co-founder and CTO Dr. Simon Baker. 

Union Sq. Advisors LLC served as monetary advisor to Exiger on this transaction. Dechert served as authorized counsel.

In March, aDolus Expertise and Exiger introduced a partnership to supply broad and deep visibility into dangers within the software program provide chain. The deal integrates Exiger’s provide chain AI platform and aDolus’ software program intelligence utility offering deeper visibility and stronger cyber defenses for essential industries.

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