Total amount raised
$1.1 Billion
Latest funding date
7/1/2023
Location
Tradeshift has successfully raised funding through 14 rounds, with notable investors including LUN Partners Group, Notion Capital, and HSBC. The platform specializes in e-invoicing and AP automation, ensuring global compliance and reducing transaction costs.
Keep reading to explore the intricacies of Tradeshift's fundraising journey and the investors backing this innovative platform.
What Is Tradeshift?
Tradeshift, founded around 2011, is a cloud-based business network that connects buyers and suppliers. The company operates in multiple industries, including B2B, Enterprise Software, Financial Services, FinTech, Procurement, SaaS, Software, and Transaction Processing. Based in San Francisco, California, Tradeshift has between 501-1000 employees.
Specializing in e-invoicing software and global compliance solutions, Tradeshift focuses on accounts payable automation and e-invoice compliance. The company helps businesses reduce costs, eliminate manual errors, and ensure compliance with local e-invoicing regulations. Their offerings include AI-powered AP automation, virtual credit cards, and B2B marketplace solutions.
How Much Funding Has Tradeshift Raised?
- Series C
- Amount Raised: USD 70,000,000
- Date: February 2014
- Lead Investors: Scentan Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Tradeshift's global reach and enhance its platform capabilities.
- Series D
- Amount Raised: USD 75,000,000
- Date: June 2016
- Lead Investors: DCVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development of new features.
- Corporate Round
- Date: January 2017
- Lead Investors: Wipro Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and expand market presence.
- Series E
- Amount Raised: USD 250,000,000
- Date: May 2018
- Lead Investors: Goldman Sachs, PSP Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series F
- Amount Raised: USD 240,000,000
- Date: January 2020
- Valuation at Round: USD 2.7 billion
- Motivation Behind the Round: To prepare for a potential IPO and expand business operations.
- Convertible Note
- Amount Raised: USD 200,000,000
- Date: March 2021
- Lead Investors: WestRiver Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth initiatives.
- Secondary Market
- Date: March 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders.
- Series Unknown
- Amount Raised: USD 200,000,000
- Date: December 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business continuity and expansion.
- Series Unknown
- Date: October 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business continuity and expansion.
- Series Unknown
- Amount Raised: USD 70,000,000
- Date: July 2023
- Lead Investors: HSBC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the global trade network and enhance product development.
Total Amount Raised: USD 1,105,000,000. Current Valuation: USD 2.7 billion.
Key Investors
- HSBC
- Details: HSBC is a major global bank that facilitates more than $800 billion in trade each year. They have been a key investor in multiple funding rounds for Tradeshift.
- Investment Focus Areas: Trade finance, embedded finance solutions, technology-based businesses.
- Notable Investments: Tradeshift, HSBC Innovation Banking.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. They have been involved in Tradeshift's Series E funding round.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Spotify, WeWork.
- PSP Investments
- Details: PSP Investments is one of Canada's largest pension investment managers. They participated in Tradeshift's Series E funding round.
- Investment Focus Areas: Real estate, infrastructure, private equity.
- Notable Investments: Pattern Energy, Cerberus Capital Management, Keter Group.
- Wipro Ventures
- Details: Wipro Ventures is the strategic investment arm of Wipro Limited, focusing on investing in early to mid-stage startups. They led Tradeshift's corporate round.
- Investment Focus Areas: Enterprise software, cybersecurity, artificial intelligence.
- Notable Investments: Demisto, Imanis Data, Vectra Networks.
- DCVC
- Details: DCVC (Data Collective) is a venture capital firm that invests in deep tech companies. They led Tradeshift's Series D funding round.
- Investment Focus Areas: Artificial intelligence, robotics, space technology.
- Notable Investments: Planet Labs, Rocket Lab, Zymergen.
What's Next for Tradeshift?
Tradeshift is poised to capitalize on significant opportunities, including scaling its global trade network and enhancing its platform with value-added services. The joint venture with HSBC to offer digital solutions like marketplace commerce and embedded finance services is set to launch in early 2024, promising substantial growth potential.
Future fundraising efforts are likely as Tradeshift continues to expand and explore new services. The recent $70 million funding round, led by HSBC, underscores investor confidence and sets the stage for potential acquisitions to broaden their value proposition.
However, challenges such as integrating new services, managing competition, and navigating economic pressures remain. Successfully addressing these hurdles will be crucial for Tradeshift's sustained growth and market leadership.
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