Supply chain and third-party risk AI company Exiger this week announced the acquisition of Versed AI. Born out of the University of Cambridge’s Language Technologies Laboratory, Versed AI’s artificial intelligence (AI) technology accelerates the process of extracting and aggregating multi-tier supplier networks, automatically creating bills of materials (BOMs), and generating unique value chain graph data.
By integrating Versed AI into Exiger’s supply chain management platform, Exiger customers will have access to unparalleled advancements in supply chain tracing, orchestration and mapping, enabling them to rapidly scale multi-layered visibility.
“Public and private sector procurement and supply chain professionals are overwhelmed by the amount of data they must process to meet their daily operational and regulatory requirements, including tariff analysis, alternative vendor sourcing, forced labor checks, environmental impact assessments and CSDDD compliance,” Exigor CEO Brandon Daniels said in a media statement. “With this acquisition, we now have an incredibly simple solution to these challenges.”
Exiger provides fast, accurate and advanced solutions for supplier mapping and risk analysis, technology that runs on proprietary data created from open source content and BOMs. Versed AI capabilities make this service even more efficient, reducing the burden on procurement teams and eliminating the need for BOMs and technical data packages. Versed AI extracts supplier relationships and other insights from publicly available content, decomposing and harmonizing individual products into their component parts, and creating a synthetic BOM for relevant product-specific supply chain mapping.
“The addition of this capability completes Exiger’s offering,” Daniels added. “It creates an innovative multi-layered visibility solution that is comprehensive, autonomous and universally deployable across every company and product in the value chain, empowering customers to assess the impact of events in their supply chain in just minutes and make informed decisions to deliver value and mitigate risk.”
“We are excited about the disruptive power of combining the best of Versed AI and Exiger,” said Fenella Boyle, co-founder and CEO of Versed AI. “After studying the competitive landscape, we believe we can make the biggest impact by deploying our technology with Exiger’s market-leading AI and vast, rapidly expanding customer base.”
Exiger has already begun integrating the technology into its supply chain platform and UX 1Exiger. The integration will enrich Exiger’s datasets and enhance the operational and multi-layered visibility capabilities of Supply Chain Explorer and SDX, making these solutions faster and more comprehensive. The new capabilities will be available immediately to Exiger customers.
“We are constantly looking at ways to deploy new technology to solve our customers’ supply chain problems,” said Brendan Gala, CPO at Exigor. “Versed AI’s technology capabilities and expertise will be a great asset to Exigor and will make an immediate impact for our customers.”
“We are thrilled to join an organization that shares our commitment to developing great technology that not only meets and streamlines everyday business needs, but also makes the world more ethical and transparent,” said Dr. Simon Baker, Co-Founder and CTO of Versed AI.
Union Square Advisors LLC acted as financial advisor to Exiger on the transaction. Dechert acted as legal advisor.
In March, aDolus Technology and Exiger announced a collaboration to provide broader, deeper visibility into software supply chain risks. The agreement brings together Exiger’s supply chain AI platform with aDolus’ software intelligence applications to provide deeper visibility and stronger cyber defenses for critical industries.
