SafeTraces Awarded Thrive Top 50
SafeTraces Awarded THRIVE Top 50
Date: March 26, 2020
PLEASANTON, Calif. (March 26, 2020) – SafeTraces is honored to announce that it has been ranked in the “THRIVE Top 50” by SVG Ventures — an annual ranking of leading global AgTech and FoodTech companies exemplifying the best in agriculture and food-focused innovation — for the third consecutive year in recognition of its leadership in food safety and traceability solutions.
Amid sky-high concerns about COVID-19 as well as on-going risks to food safety and authenticity, consumers are demanding greater visibility into food chains and corresponding safety measures from food companies. According to an extensive global Nielsen study, “the product benefit consumers were most willing to pay premium for were those with high quality assurances and verifiable safety standards,” with 49% of consumers globally saying that “they were highly willing to trade up in price for this benefit.”
Recognizing an unmet need in the food industry, SafeTraces developed the first and only on-food traceability solution called safeTracersTM – edible, invisible, FDA-GRAS, DNA-based barcodes that are applied directly to food and that a downstream purchaser can read with a rapid, inexpensive, on-site test. safeTracersTM are especially valuable in food chains with elevated risk of pathogenic contamination, counterfeiting, and environmentally destructive sourcing practices, where rapidly verifying product provenance and authenticity is vital and where traditional packaging and paper documentation-based methods of tracking and tracing have proven to be ineffective, slow, and vulnerable to tampering and error.
Additionally, SafeTraces has developed a groundbreaking, AOAC-certified rapid sanitation verification solution, saniDART™, to quantify the microbial load reduction of cleaning and sanitation on Zone 1 surface in food processing facilities through the use of FDA-GRAS, non-living bacterial surrogates. While traditional solutions often require sending samples to a third-party lab and waiting days for results long after product has left a food processing facility, saniDARTTM provides results on-site within 20-25 minutes, enabling food processors to make in-process corrective actions and ultimately mitigate the risk of contaminated product reaching consumers.
“It is an honor to be recognized with the THRIVE Top 50 Food Tech award for the third year in a row,” says SafeTraces CEO, Erik Malmstrom. “Now more than ever, consumers are demanding food safety and traceability from their food companies, rewarding leaders and punishing laggards. As the global food system evolves, we are here to empower industry actors with market-leading technology and data to ensure that they are delivering the safest, most authentic, and most sustainably sourced food to their consumers.”
Over the past year, SafeTraces has significantly expanded its market reach into food chains exposed to significant risks related to food safety, fraud, and sustainability — including produce, bulk commodities, and protein. SafeTraces has partnered with leading food companies and technology solution providers in order to advance the mission of food traceability and safety.
Founded in 2013, SafeTraces provides the only patented on-product food safety solutions that protect the food industry and consumers from food recalls, adulteration, and fraud. The company is committed to providing complete, low-cost solutions that deliver results in minutes. Its traceability solutions enable customers to gain full transparency, protect their brand, and reduce processing and recall costs. SafeTraces sanitation verification solutions provide insight into the effectiveness of the sanitation process – on-site and in minutes. The company is led by an expert team of entrepreneurs, scientists, and engineers dedicated to using nature’s own DNA to make food production safer, more transparent, and sustainable. Learn more about SafeTraces at www.safetraces.com.