Transparency-One maps the supply chain, tracks compliance, and provides analytics to manage business risks. It helps companies interconnect and share product and facility data.
The investment coincides with the spinoff of Transparency-One from Trace One, a provider of private label product lifecycle management (PLM) software.
Founded by Jérôme Malavoy, Transparency-One has graph database technology combined with supplier onboarding services.
Consumers are demanding more information and accountability from brands and governments have responded with stringent regulations forcing more disclosure of product and supplier information.
Transparency-One said most brands know their immediate (Tier 1) suppliers but not the full supply chain down to the raw material and this opaque part is often where problems occur.
“Transparency means knowing the network of suppliers, ingredients/components, and facilities in the entire supply chain down to the raw materials. It means understanding the certification compliance, country of origin, and production environment at every stage in the process,” added the firm.
Francois Marti, EVP at SGS, said Transparency-One is a powerful platform for the industry.
"We believe the market will continue to digitize supply chain information to help diagnose and mitigate risks. The expertise that SGS can offer together with the Transparency-One platform will help ensure safe supply chains and protect our customers' brands.”
Chris Morrison, former chief marketing officer of Trace One, will become CEO of Transparency-One.
"As an industry we're just beginning the journey of how supply chain risk management can impact brands and consumers. Having the financial support and domain expertise of SGS will help us execute our vision even more rapidly and broadly.”