This acquisition represents a long-awaited addition to Stratsys' product range, as well as new colleagues with invaluable expertise. Through the acquisition, Stratsys will be able to offer a complete system support for Due Diligence of value chains regarding sustainability, including supplier assessments and compliance work with the EU directive CSDDD and the Norwegian Transparency Act.
We catch up with Stratsys CEO, Fredrik Demling, for a comment and spend extra time hearing more from our new colleagues; Founding Partner and CEO at Evaluate, Anna Lindstedt, and Partner and CTO, Daniel Ernerot, about what this means for Stratsys and Evaluate, and most importantly for our customers.
Fredrik, having been involved in the entire process, how do you feel today?
We are incredibly happy to have completed this acquisition! It has been a long process and after thoroughly examining the market, there was no doubt that Evaluate is the leading player in terms of both expertise and technology. This acquisition complements our offerings in an optimal way and will enable comprehensive support for our customers – from strategic overview down to individual supplier assessments. We welcome the team at Evaluate with open arms and look forward to starting to work together as colleagues from today!
Anna, how did you come to found Evaluate?
The seed for Evaluate was originally a survey tool developed at the consulting firm Ethos International, where I was previously a partner and CEO, Anna explains. The foundation of the tool was my experience from helping purchasing departments set up processes for sustainability screening and from inspections around the world. I saw the potential and decided in 2019 to give the tool its own wings in a separate company. At that time, I engaged Daniel as CTO and the journey toward the complete due diligence platform Evaluate began today.
What is supplier assessment in a sustainability context? What problems/challenges do customers need to solve?
Customers need to identify and mitigate potential and actual risks in their value chain, but also gather climate data through the supply chain. Fundamentally, it provides competitive advantages and is important for their own business, but it increasingly also involves legal requirements. There is both national legislation in several countries and new EU legislation that places high demands on due diligence of suppliers and other business partners. But Evaluate is not limited to sustainability. IT security and quality are other areas that customers are already following up through Evaluate, Anna continues.
Tell us more about how the platform works and what makes it unique.
Evaluate was created to simplify and streamline the often time-consuming work of assessing suppliers' sustainability efforts. With features such as risk analyses, self-assessment forms, tools for site visits, deviation management, and follow-up, Evaluate helps to identify and manage risks – among other things through direct dialogue with suppliers and other partners, Daniel explains. I would say the key to success has been close collaboration with customers. Evaluate has always been based on the daily life of the purchasing department. By integrating smoothly into existing work processes, the platform has become a popular resource, rather than an additional burden, as due diligence of suppliers has evolved from "nice to have" to "need to have".
What made you open to looking for a potential buyer?
There is an incredible amount happening in the sustainability field, and supplier evaluation is just one – albeit important – part that is merging with, for example, sustainability reporting and calculation of carbon footprints, Daniel explains. Customers want to be able to take a comprehensive approach to their sustainability and compliance work to be able to work strategically with these issues. Therefore, it is important for us to be part of a larger context where we can offer our customers that completeness.
What primarily attracted you to choose Stratsys as a buyer in a sale?
Stratsys, with its broad portfolio and expertise in compliance, was a perfect match and precisely the context we were looking for. We see that we complement an already strong sustainability offering. Additionally, Stratsys is a very pleasant company with a culture and values that we share, which was important to me and Daniel, Anna says.
How will the acquisition affect your customers and your potential for growth going forward? In the short and long term?
In the short term, everything will work as usual for our customers, with the difference that we now have greater muscle and better capacity. In the slightly longer term, we see great potential for growth with a strong joint offering that gives customers the opportunity to manage sustainability issues both practically and strategically. With an even better platform and more customers, we can ensure that we always stay at the forefront with our offering, Anna continues.
What do you see as the advantages of combining Stratsys and Evaluate's offerings for your customers?
The opportunity to work with sustainability in a more strategic perspective will be able to add great value to our existing customers. It means that the sustainability work can be connected – from the evaluation of an individual supplier to sustainability reporting and risk monitoring at an overarching level. We also see that we will be able to offer an expansion to compliance in other areas such as risk management, information security, and quality work, Daniel says.
How do you feel about becoming part of the team at Stratsys?
Moving from entrepreneurship into a larger team is of course an adjustment. But it's just fun and exciting. In a small company, one must wear many hats. Now I look forward to putting full force into developing the offer together with old and new customers, Anna says.
- And we have liked Stratsys from the very beginning, Daniel concludes.
About Anna Lindstedt, founding partner and Senior Advisor at Evaluate
Anna has nearly 20 years of experience in strategic sustainability work and is one of Sweden's foremost experts on sustainable supply chains. In her previous role as Senior Advisor, Partner, and CEO of Ethos International, she has assisted a large number of global companies with their sustainability efforts. Anna is also a certified SA8000 Lead Auditor and has conducted full-scale inspections around the world. Additionally, she is a highly appreciated lecturer and provides training at institutions including Vocational Colleges and SSE Executive Education.
Anna Lindstedt, VD Evaluate
About Daniel Ernerot, CTO and Partner at Evaluate
Daniel is an expert in digital communication with nearly 25 years of experience in technology, content, user experience, and usability. Daniel is a senior full stack developer, but also a former copywriter. He has a background in the EdTech industry where he has led the development of a SaaS platform for digital learning and driven compliance and change projects relating to everything from IT security and the implementation of new systems to sustainability.
Daniel Ernerot, CTO and partner Evaluate
Want to know more about Evaluate? Read more here.
