Total amount raised
$1.1 Billions
Latest funding date
7/1/2023
Location
Tradeshift has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform specializes in AP automation and e-invoicing compliance, offering solutions that streamline business processes and ensure global regulatory adherence.
Keep reading to explore the intricacies of Tradeshift's fundraising journey and the investors backing this innovative platform.
What Is Tradeshift?
Tradeshift, founded in 2009 by Christian Lanng, Gert Sylvest, and Mikkel Brun, is headquartered in San Francisco, California. The company specializes in providing a cloud-based business network that connects buyers and suppliers, streamlining processes such as AP automation and e-invoicing compliance.
With a workforce of 501-1000 employees, Tradeshift aims to eliminate paper and manual processes across procure-to-pay, enabling businesses to simplify supply chain payments securely. Their platform offers various solutions, including Source-to-Pay, B2B Marketplace, Spend Management, and Supplier Relationship Management.
Tradeshift's innovative approach allows clients to connect with all their suppliers digitally, seize early payment discounts, and minimize risks, ensuring global regulatory adherence and operational efficiency.
How Much Funding Has Tradeshift Raised?
- Series C
- Amount Raised: $70M
- Date: February 2014
- Lead Investors: Scentan Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its global footprint and enhance its platform capabilities.
- Series D
- Amount Raised: $75M
- Date: June 2016
- Lead Investors: DCVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new product development.
- Corporate Round
- Amount Raised: Not disclosed
- Date: January 2017
- Lead Investors: Wipro Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and expand market reach.
- Series E
- Amount Raised: $250M
- Date: May 2018
- Lead Investors: Goldman Sachs, PSP Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform features.
- Series F
- Amount Raised: $240M
- Date: January 2020
- Lead Investors: Not disclosed
- Valuation at Round: $2.7 billion
- Motivation Behind the Round: To support global expansion and product innovation.
- Convertible Note
- Amount Raised: $200M
- Date: March 2021
- Lead Investors: WestRiver Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity and support ongoing operations.
- Secondary Market
- Amount Raised: Not disclosed
- Date: March 2021
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for existing shareholders.
- Venture Round
- Amount Raised: $200M
- Date: December 2021
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and expand market presence.
- Venture Round
- Amount Raised: Not disclosed
- Date: October 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and enhancing platform capabilities.
- Venture Round
- Amount Raised: $70M
- Date: July 2023
- Lead Investors: HSBC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the global trade network and enhance value-added services.
Total Amount Raised: $1.105 billion. Current Valuation: $2.7 billion.
Key Investors
- HSBC
- Details: HSBC is a global banking and financial services organization headquartered in London. It is one of the world's largest banks, facilitating over $800 billion in trade annually.
- Investment Focus Areas: Banking, financial services, digital solutions.
- Notable Investments: Acquired assets of the failed SVB in the U.K., rebranded as HSBC Innovation Banking.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. Founded in 1869, it is headquartered in New York City.
- Investment Focus Areas: Investment banking, asset management, securities.
- Notable Investments: Uber, Spotify, WeWork.
- PSP Investments
- Details: PSP Investments is one of Canada's largest pension investment managers. It manages funds for the pension plans of the Public Service, the Canadian Forces, the Royal Canadian Mounted Police, and the Reserve Force.
- Investment Focus Areas: Real estate, private equity, infrastructure.
- Notable Investments: Pattern Energy, CeramTec, Loral Space & Communications.
- DCVC
- Details: DCVC (Data Collective) is a venture capital firm that invests in entrepreneurs applying deep tech to transform giant industries. It is based in Palo Alto, California.
- Investment Focus Areas: Artificial intelligence, robotics, cybersecurity.
- Notable Investments: Planet Labs, Rocket Lab, Zymergen.
- WestRiver Group
- Details: WestRiver Group is a venture capital and private equity firm that provides integrated capital solutions to the global innovation economy. It is headquartered in Kirkland, Washington.
- Investment Focus Areas: Technology, life sciences, energy.
- Notable Investments: Spaceflight Industries, Adaptive Biotechnologies, Redfin.
What's Next for Tradeshift?
Tradeshift stands at the cusp of significant growth opportunities, driven by its recent $70 million funding round and a strategic joint venture with HSBC. The company aims to scale its global trade network, which already connects over a million businesses, and enhance its platform with new value-added services. The joint venture with HSBC is set to launch in early 2024, focusing on embedded finance solutions that could revolutionize B2B trade.
Future fundraising seems likely as Tradeshift continues to expand its offerings and market reach. The company is also exploring potential mergers and acquisitions to bolster its capabilities. However, challenges such as integrating new services, managing the joint venture, and navigating a complex economic landscape could pose hurdles. Maintaining investor confidence and meeting high expectations will be crucial as Tradeshift moves forward.
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