Tradeshift have raised $250 million in Series E funding, taking their total funding close to $500 million. The company is now reported to be valued at over $1 billion. In a press release, Tradeshift reported:
Additional participation comes from HSBC, H14, GP Bullhound, and Gray Swan, a new venture company established by Tradeshift’s founders. The new round of financing brings Tradeshift’s total funding to more than $400 million. Company valuation is now at $1.1 billion.
And the new investors – which include Goldman Sachs – join the likes of HSBC and American Express Ventures on a long and increasingly impressive list of backers for the supply chain firm.
While this latest round of funding doesn’t appear to have been clearly allocated beyond being used for “strategic investments” – including blockchain research – it does follow an announcement from only last week that Tradeshift have launched Tradeshift Pay. As reported on Business Wire:
Tradeshift, the leader in supply chain payments and marketplaces, today launched an industry first: becoming the only cloud platform to bring supply chain payments, supply chain finance, and blockchain-based early payments together into one unified end-to-end solution, Tradeshift Pay.
And Christian Lang, the CEO of Tradeshift, confirmed the company’s strong backing of digital supply chains in his statement:
We have always believed that the future of supply chains is 100 percent digital and that connecting trade is just the first step to a digitally connected economy. This investment will enable us to continue our rapid growth and consolidate our leadership position.
Tradeshift’s digital program will be driven forward by Frontiers, their new technological arm, launched in January 2018.