Billion Dollar Unicorns: Tradeshift Gathers Funds To Go Public

Tradeshift’s Financials

Tradeshift is privately held and does not disclose its financials. Reports published last year did reveal that the company had crossed $80 million in annual revenue runrate and was looking to cross the $100 million mark this year.

It has raised $432 million in funding from investors including Goldman Sachs Group Inc., PSP Investments, HSBC Holdings Plc, Gray Swan, H14, American Express Ventures, Notion, GP Bullhound, CreditEase Fintech Investment Fund, and Santander Investments. Its last funding round was held in May this year when it raised $250 million at a $1.1 billion valuation. The round was led by Goldman Sachs and PSP Investments. An earlier round held in June 2016 had valued the company at $600 million.

Tradeshift plans to use the latest funds to invest in market expansion and technology development. It is hoping to list in the next two years and believes that the current funding round will help cover for this period.Last year, there was speculation that Salesforce could look at acquiring Tradeshift, but Tradeshift’s management has maintained that they have no intention of selling.

Besides the larger players like SAP and Oracle, there are several other smaller players like Taulia who are offering similar services like Tradeshift. I would like to know from users about the gaps that they see missing from their existing SCM and invoicing service providers? What is the one key element in their service that would make your SCM process simpler?

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Disclaimer: More investigation and analysis of Unicorn companies can be found in my latest Entrepreneur Journeys book, Billion ...

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