Title: Knowde Secures $60 Million in Series C Funding, Valuation Surpasses $500 Million Mark
In a recent exclusive report by TechCrunch, Knowde, an online marketplace for chemicals and polymers, has successfully closed on a Series C round, raising $60 million. Despite being valued lower than its previous $500 million valuation, this round has still positioned the company at a valuation of over 20 times its annual recurring revenue (ARR). New investors Blue Cloud Ventures and Point72 Private investments have joined existing backer Sequoia in this funding round.
Knowde, founded in 2017 by co-founder and CEO Ali Amin-Javaheri, aims to revolutionize the chemical and polymer market by bringing it online. With a background in the industry and experience at ChemPoint, Amin-Javaheri has successfully built a marketplace with over 8,000 chemical suppliers, catering to brands like Unilever, Johnson & Johnson, and P&G.
This latest funding round adds to Knowde's total venture funding of over $150 million, following a $72 million Series B round led by Coatue and a $14 million Series A round led by Seqouia. The company's growth trajectory and strategic partnerships with major brands indicate a promising future in the chemical and polymer market.
Analysis:
Knowde's successful Series C funding round signifies a significant milestone in the company's growth journey. With a valuation exceeding $500 million and a strong investor backing, the company is well-positioned to expand its market presence and drive innovation in the chemical and polymer industry.
For investors, this news highlights the potential for growth and returns in the chemicals market, particularly with the increasing shift towards online platforms. Additionally, for businesses in need of chemical and polymer supplies, Knowde's marketplace offers a convenient and reliable solution, backed by a network of reputable suppliers and partnerships with leading brands.
Overall, Knowde's latest funding round showcases the power of technology and innovation in transforming traditional industries, and presents opportunities for both investors and businesses to capitalize on the evolving landscape of the chemical and polymer market.