Tradeshift

Economic Opportunity for All

Founded: Jul 2009

Products:

Buy – B2B marketplace and procurement

Pay – B2B payables automation

Engage – Supplier collaboration and analytics

Cash – Working capital for your supply chain

Go – Spend management for B2B virtual credit cards

Overview
Danish-born, San Francisco-raised (and now headquartered) private company, Tradeshift, is a global cloud-based business network connecting buyers and suppliers. It has a network of 1.5 million, across more than 160 countries. The platform is used to access global supply chain payments, B2B marketplaces, and apps. Its claim is that while other solutions “cloudify” legacy workflow processes, Tradeshift eliminates them. Digital is its default for orders, invoices, conversations and other trade transactions. The platform has so far been used to process over half a trillion USD in transaction value, putting it amongst the largest global business networks for buying and selling. 

The architecture of Tradeshift’s single platform is part SaaS, part network, part B2B marketplace. Its structure enables users to build their own apps, integrate with legacy systems, or work with other app partners.

It partners with a number of high-profile players including Accenture, Genpact, PwC, Cognizant, Infosys and Capgemini.

Since being founded in 2009 by Danes, Christian Lanng, Gert Sylvest and Mikkel Brun, it has regularly secured funding, and has over 20 major investors. Its most recent was a Series F Round on Jan 14, 2020. The company has also acquired four businesses, most recently online B2B document integration platform, Babelway on Dec 18, 2018.

Clients
Over 500 clients globally, with more than 1.5 million buyers and sellers onboard.

Active region(s): Over 160 countries globally. Headquartered in San Francisco, with wholly owned offices in London, New York, Copenhagen, Suzhou, Aarhus, Tokyo, Munich, Sydney, Bucharest, Stockholm, Frankfurt, Kuala Lumpur, Mexico City, Sao Paulo, Paris, and Ottignies-Louvain-la-Neuve, Belgium.

Partners: Consultancies (e.g. Accenture), BPO (e.g. Genpact) and specialist technology providers (e.g. Quyntess). Details available at: tradeshift.com/partner/ 

Employees: c.1000. Chairman and CEO is Co-Founder, Christian Lanng. It has six board members and advisors.

Funding: $661M in over 10 rounds. Its seed round was in November 2009, with funding from Klaus Lovgren, founder and CEO of AME Info. Its most recent was on Jan 14, 2020 from a Series F round. It is funded by 23 investors including as lead investors, CreditEase Fintech Investment Fund, IDC Ventures, Mouro Capital, GP Bullhound, GS Growth, HSBC, Notion, PSP Investments. Fin Venture Capital and H14 are the most recent lead investors.

As of Jan 15, 2020, Tradeshift had a PrivCo post-money valuation in the range of $1bn to $10bn. 

Ownership
Currently around 21 investors including. Leadership details can be found here.

Elevator pitch
“Whether you are in procurement, payables, or finance you only need one trade technology platform, and at Tradeshift we digitise trade. Unlike other business ‘networks’, Tradeshift allows many buyers to connect to many sellers. So you get more data, smarter AI, improved efficiency, and—with the network effect—an increasingly resilient supply ecosystem. We help buyers and suppliers digitise all their trade transactions, collaborate on every process, and connect with any supply chain app. Because the future doesn’t care how much you invested in your rigid software suite. More than 1.5 million companies across more than 160 countries trust Tradeshift to process over half a trillion USD in transaction value, making us the largest global business network for buying and selling.  That’s digital trade at scale. That’s Tradeshift.”

Unlike other business ‘networks’, Tradeshift allows many buyers to connect to many sellers. So you get more data, smarter AI, improved efficiency, and—with the network effect—an increasingly resilient supply ecosystem.

Websitewww.tradeshift.com

Email: sales@tradeshift.com

TMI view: Tradeshift’s cloud-based network connecting proposition aims to deliver a one-stop-shop for buyers and suppliers. The number of clients and platform users, and its multiple successful funding rounds, suggests it retains credibility in a marketplace that is getting busier with solutions in the same ballpark. It has also made a very useful acquisition in Babelway, automating document flows between trade partners requiring different formats and transfer methods – a longstanding trade pain-point.

Verdict: A serious global player, with robust financial and partner-programme backing. Maturing nicely.