CARLSBAD, Calif., Jan. 7, 2016 /PRNewswire/ -- Source Intelligence® (SI), the global leader for supply chain compliance solutions, announced today that it has received a $17.5 million investment by Kayne Partners to fund ongoing growth of its network and to meet increased demand for its technologically advanced information platform. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P., a Los Angeles-based alternative investment firm managing more than $22 billion in assets. Piper Jaffray & Co. acted as exclusive financial advisor and placement agent for Source Intelligence.
Source Intelligence's industry-leading platform has gained hundreds of thousands of users. These users include many Fortune 500 customers globally. The company's reliability in authenticating a vast and constantly changing web of supply chain information helps companies meet increasingly strict regulations regarding conflict minerals, restricted (chemical) substances, and other sustainability and environmental issues. Source Intelligence is led by veterans in sustainability, environmental compliance and advanced software design and includes a 24/7 engagement team of multi-lingual supply chain specialists who further validate the company's technology-based tracking system. The company has built one of the world's largest supplier networks, expediting the exchange and validation of compliance information.
"The explosive number of global brands subscribing to SI's platform is triggering significant expansion in the solutions we offer and a demonstrated need to expand our capacity," said Jess Kraus, CEO at Source Intelligence. "SI is honored to secure the trust of Kayne Partners who share our vision for sustained growth and our global solution to make the world a better place."
Global companies are turning to Source Intelligence's flexible and scalable SaaS solution, robust network of suppliers and proprietary validation techniques to help them meet ever-expanding sustainability, corporate social responsibility and environmental standards.
"Kayne Partners seeks opportunities to invest in companies with demonstrated success, the right metrics for expansion and a strong management team. Source Intelligence has positioned itself for long-term growth by providing a massive user network and must-have solution for some of the world's biggest enterprises," said David Walsh, Managing Partner, Kayne Partners. "Companies are facing increasing supply chain regulation as well as investor and consumer demands to be more socially and environmentally responsible. Turning to Source Intelligence significantly reduces risk and exposure in this arena."
About Source Intelligence®
Source Intelligence® (SI) is a global network of businesses linked together to expedite the exchange and validation of compliance information. SI's cloud-based SaaS platform helps customers make informed decisions about business partners to offer products that meet legal, ethical, and environmental standards. The company's information and analytics platform provides customers with visibility into supply chains in order to comply with the law, minimize operational and brand risk, and improve efficiency. Founded in 2009 by career experts in environmental solutions and analytics, Source Intelligence® has headquarters in Carlsbad, California and operations worldwide. SI has received multiple awards, including the "2015 GRC Innovation Award" by analyst firm GRC 20/20. CEO Jess Kraus was recently named "CEO of the Year" by CIO Review.
About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $600 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P.
Source Intelligence® Contact:
Lina Ramos, Chief Business Officer
SOURCE Source Intelligence