Tradeshift

Tradeshift
Industry Software
Founded May 2010
Founder Christian Lanng, Mikkel Hippe Brun, Gert Sylvest
Headquarters San Francisco, New York, London, Copenhagen, Amsterdam, Paris, Munich, Suzhou, Tokyo, Sydney
Number of employees
 300
Website tradeshift.com

Tradeshift is a cloud-based business network connecting buyers and suppliers. It was founded in Copenhagen in 2010 by Christian Lanng, Mikkel Hippe Brun, and Gert Sylvest. The Tradeshift network currently supports 800,000 businesses in over 200 countries on the platform. Product offerings address Enterprise, Mid-Market and Small Business customers and suppliers across the procure-to-pay spectrum, including procurement, e-invoicing and supplier management. The rapid adoption of the service drew attention from international media, including Wired[1] and Financial Times.[2]

Background

All of the founders have a background in the Danish public sector, where they created the world's first large scale peer-to-peer infrastructure for e-business called Easytrade. This innovation was nominated for the European eGovernment Awards in 2009.[3] The founders also had leading roles (Governing board member, Technical Director) in the European Commission project PEPPOL, which is aiming to enable cross-border electronic trade inside the European Union.[4]

Team

The Tradeshift platform has attracted a number of experienced high profile investors such as Morten Lund, who served as Chairman for the company (a position now held by CEO Christian Lanng), Jon Bosak, who co-created XML and works on the technical advisory board, Mårten Mickos,[5] Last.fm backer Stefan Glaenzer and another long-time angel investor Klaus Lovgreen.

Funding

In May 2011, Tradeshift raised $7 million from Notion Capital.[6][7] In October that year, it raised a further $17 million, which established its total market value at around $137 million.[8] The participants in the later round were ru-Net and Kite Ventures, both of which are Moscow-based investment firms.[9]

In February 2014, Tradeshift received $75 million from Singapore’s Scentan Ventures, which the company said it would use to expand its business in Japan and China, where many of its customers have suppliers. Scentan's involvement now values Tradeshift at $300 million.[10]

See also

References

  1. ↑ Roth, Daniel (2010-02-22). "The Future of Money". Wired. Retrieved 2010-03-25.
  2. ↑ Bradshaw, Tim (2011-05-16). "Tradeshift in $7m fundraising". FT. Retrieved 2011-05-16.
  3. ↑ . "Award Finalists 2009". ePractice.
  4. ↑ Antony Savvas, Computer World UK. "EU e-procurement agency implements TradeShift." December 13, 2011. Retrieved May 7, 2012.
  5. ↑ MIKE BUTCHER, TechCrunch. "Tradeshift signs new Angels, tests platform and is courting VCs." April 22, 2010. Retrieved May 9, 2012.
  6. ↑ Steve O'Hear, TechCrunch. "Tradeshift raises $7m for its ‘Skype for invoicing’ and wider B2B play." May 16, 2011. Retrieved January 11, 2011.
  7. ↑ Ciara Byrne, VentureBeat. "[Tradeshift reinvigorates invoicing with $7 million in funding http://venturebeat.com/2011/05/16/tradeshift-reinvigorates-invoicing-with-7-million-in-funding/]." May 16, 2011. Retrieved March 13, 2012.
  8. ↑ Ben Rooney, The Wall Street Journal. "Tradeshift Secures $17 Million Funding." October 25, 2011. Retrieved March 13, 2012.
  9. ↑ Robin Wauters, TechCrunch. "E-invoicing company Tradeshift raises $17 million at $137 million valuation." October 25, 2011. Retrieved December 19, 2011.
  10. ↑ Davies, Sally. "Digital invoicer Tradeshift valued at over $300m in fundraising", The Financial Times. London, 25 February 2014
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