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Tradeshift Closes $75 Million in Strategic Growth Funding

  Tradeshift Closes $75 Million in Strategic Growth Funding

  Series C Round to Fund Global Expansion; Forms Growth Partnership in Asia

Business Wire

SAN FRANCISCO, Calif. -- February 25, 2014

Tradeshift, the fastest growing platform helping hundreds of thousands of
businesses connect, collaborate and transact announced it has raised $75
million in its Series C funding from Singapore’s Scentan Ventures - a team
consisting ofinternet entrepreneurs, digital, and finance veterans. This
round brings Tradeshift’s funding to a total of $112 million, and will help
drive its global expansion in the US, Europe and now Asia with investments
made to fuel sales, marketing and applications development.

The funding will also jump start efforts in Japan, where the new partnership
with Scentan Ventures will bring local expertise and build the applications
ecosystem for the Tradeshift platform in Asia. Tradeshift will also open
offices in Tokyo.

The partnership provides Scentan Ventures exclusive product development,
sales, marketing and service rights to the Tradeshift platform throughout
Japan. Scentan Ventures’ Managing Director, Noriaki Okubo, will join
Tradeshift’s board. Tradeshift, which connects more than 500,000 companies
around the world with their supply chains to facilitate business transactions,
has previously secured funding from worldwide investors such as Notion
Capital, Ru-net, Kite Ventures, Intuit and PayPal, and opened offices in
Suzhou, China in 2013, to develop localized products for Chinese suppliers.

“It is in the DNA of our company to do things organically and on a global
scale, from developing software to developing our business,” said Tradeshift
CEO and Co-founder, Christian Lanng. “We spent a lot of time determining who
the best partner would be to move Tradeshift to the next level, not just with
regard to our funding, but also our global expansion strategy. Scentan
Ventures has a clear understanding of our vision, and is aligned with our
ambition to connect every business on the planet on one shared platform.
Couple this with Japan’s appetite for change and innovation, and their ranking
as the world’s third largest economy, and the decision was made easy.”

“Tradeshift’s approach to solving the problems facing global trade is
visionary and inspiring. This is just what Scentan Ventures looks for in our
partners, and more importantly, is the type of innovation the Japanese market
needs,” commented Scentan Ventures’ Managing Director, Noriaki Okubo. “The
fact that a successful business model in one country cannot simply be
replicated in another is a realization too often overlooked and Tradeshift
understands this. Our partnership brings together Tradeshift’s revolutionary
platform and business network with Scentan Ventures extensive experience with
global business.”

As global markets expand, and the need for cross border trade capabilities
increases, enterprises are quickly looking to bring their suppliers online to
create transparency and support collaboration in the trading process. As one
of the world’s strongest economies, Japan represents one of the largest
opportunities for B2B in domestic and international supply chains. Tradeshift,
which is free for suppliers, boasts high levels of adoption and promotes the
free flow of information between parties. Its open application development
platform supports any number of current business transaction processes and
future proofs to ensure scalability.

About Tradeshift

Imagine a place where all companies, big and small, come together to work,
collaborate and transact. Now stop imagining and start participating.
Tradeshift is the single, shared and open platform connecting buyers and
suppliers easily and without limitation. Launched in 2010, Tradeshift connects
500,000 companies across 190 countries, with over ten thousand more joining
every month. Businesses on the platform include DHL, the National Health
Service (NHS), French Government, CBRE and Vestas Wind Systems. Tradeshift was
awarded Best Enterprise at The TechCrunch Europa awards and Most Innovative
Solution by Financial-I. TechCrunch also recognized it for “Kicking Ass
Globally”. Tradeshift is a global business, headquartered in San Francisco
with offices in Copenhagen, London, Suzhou and Tokyo. Find out more at
http://tradeshift.com

Contact:

Media Contacts:
Tradeshift
Peter Adams
415 794 5861
pfa@tradeshift.com
or
Oliver Stewart / Sian Edwards
0207 592 1200
Tradeshift@brands2life.com
 
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