Knowde will invest in product development for new buyer and supplier features
Knowde, a digital market for ingredients, polymers and chemistry, has raised US$72m in Series B financing led by tech investment platform Coatue.
Existing investors Sequoia Capital, Refactor Capital, Bee Partners and Cantos Ventures also participated in this round, alongside new parties Sound Ventures (the venture capital firm co-founded by actor Ashton Kutcher), TQ Ventures, K5 Global and Mantis VC.
Knowde allows buyers to search, compare, sample, quote and purchase products from every producer on earth, enabling suppliers to lower sales costs and provide their customers with the desired online buying experience.
With this round, Knowde said it would invest in product development for new buyer and supplier features, further enhancements to its e-commerce capabilities and international expansion opportunities.
"This is one of the few remaining industries that has not been touched by software,” said Ali Amin-Javaheri, co-founder and CEO of Knowde.
"Marketplaces have instantly modernised major industries. Knowde is bringing this same experience to the largest market in the world."
Kris Fredrickson, Managing Partner at investor Coatue, meanwhile, commented: “Digital marketplaces have the power to transform industries. We’re excited to partner with Knowde because we believe in the company’s vision to re-shape the way marketing and sales are done in one of the largest industries in the world."