Evaluating only SupplyRisk360’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. Documented cause: Platform dependency.
Key Events Timeline
FOUNDING
Patrick Moreau and Nadia St-Pierre founded SupplyRisk360 in Toronto for integrated supplier risk monitoring.
FUNDING
CAD 14M Series A from BDC Capital; LexisNexis data partnership formed providing 60% of risk signal coverage.
REGULATORY ACTION
LexisNexis data partnership expired; renegotiation failed after LexisNexis demanded 340% price increase.
SHUTDOWN
SupplyRisk360 shut down after losing core data layer; 29 employees displaced, CAD 14M fully consumed.
Full Analysis
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Documented cause
SupplyRisk360, founded in Toronto in 2018 by ex-CIBC risk analyst Patrick Moreau and former Bombardier procurement lead Nadia St-Pierre, raised CAD 14M to integrate financial, ESG, and geopolitical supplier risk signals into a single dashboard for Canadian aerospace and manufacturing firms. A data partnership with LexisNexis that provided 60% of their signal set expired in March 2023 and renegotiation failed after LexisNexis increased pricing by 340%. Without the data layer, the platform lost its core value proposition. Moreau shut the company down in September 2023 with 29 employees affected.
Lesson
“Never build more than 20% product dependency on a single third-party data provider without irrevocable long-term pricing agreements.”