TradeShift

Tradeshift’s $75 Million Series D Round Draws New and Existing Investors for Development

June 9, 2024         By: Mike Dautner

Tradeshift recently announced that new and existing investors have joined the company’s $75 million Series D funding, including venture capital firm and round leader Data Collective, HSBC, American Express, Notion Capital, CreditEase Fintech Investment Fund, managed by CreditEase, and Pavilion Capital, a subsidiary of Temasek Holdings.

It was also announced that Matt Ocko, co-Managing Partner and co-founder of DCVC, will join Tradeshift’s board of directors.

The company, which experienced a 250 percent growth in transacted value from 2014 to 2015 on its business network, serves over 800,000 users and considers many of the fortune 1000 as customers.

The company also processes billions of dollars each month via supply chain transactions across 190 countries worldwide.

This new funding sparks Tradeshift’s growing application, platform, and B2B marketplace ecosystem development.

“Tradeshift continues to attract interest and investment because of our unique approach,” said Tradeshift CEO and Co-Founder, Christian Lanng. “Tradeshift has built an open business network on a scalable cloud-first platform that is extensible by third-party apps. Customers, partners, and investors want to get behind our bold vision because of the huge wins ahead for customers engaged in digital transformation.”

This funding comes off the heels of a number of initiatives that have propelled the company’s advancement of the global procure-to-pay category over the past year, some of which include:

  • Broadened capabilitiesto help companies buy, pay, as well as manage supplier risk
  • New customers within the Fortune 1000, including Zurich Insurance Group, NHS SBS, LinkedIn, SAPA, RWE, Eberspächer Group, Tech Data, SUEZ and Veolia - a joint customer with Xerox Business Services
  • The rapid adoption of small-and-medium-sized businesses on the Tradeshift platform, expanding the total user base to over 800,000
  • Strategic partnerships with Microsoft, Xerox Business Services, and China-based Baiwang
  • Over 400% growth in supplier accounts as a result of Tradeshift’s superior onboarding methodology, which is 12x faster than the industry average