Tradeshift, a San Francisco, CA-based leader in supply chain payments and marketplaces, raised $240 million in equity and debt funding.
Backers included a combination of existing and new investors with more than two-thirds of the round already closed.
The company intends to use the capital to expand adoption of its solutions and enhance its network finance program.
Led by Christian Lanng, CEO, Tradeshift provides supply chain solutions for the digitally connected economy. The company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries use Tradeshift to process over half a trillion USD in transaction value.
The company, which has reported more than 2 years of growth in quarterly revenue, recorded its best-ever year in 2019, including more than 60% revenue growth, more than 300 enterprise deals closed (the average deal size was doubled), and more than 40% of the total cumulative transaction volume across its platform came in the last 12 months.