Knowde, the digital marketplace for the global chemical industry, recently announced the closing of its Series B funding round, bringing in $72 million to further the development and growth of their platform. Several investors backed this funding, including Atomico, Shea Ventures, and AI Capital.
In this article, we will be exploring the investors who participated in this fundraising round.
Overview of Knowde
Knowde, a digital platform that connects buyers, suppliers, and distributors in the specialty chemicals industry, has recently closed its Series B funding round. The round was led by BOND and World Innovation Lab (WIL) with participation from Point72 Ventures, BVK Ventures and the Blackhorn Group.
Knowd was founded in 2018 by CEO Josh Barkan to streamline and modernize the specialty chemicals market with innovative technology. Specialty chemicals are used heavily across various industries ranging from food & beverage to cosmetics. However, the fragmented nature of this market can make coordinating supplier-buyer relationships time consuming, difficult to manage and costly. Knowde simplifies this process by connecting buyers, suppliers, and distributors in one place with an easy to use digital platform. As a result, buyers can find new sources while building better relationships with existing suppliers on a global scale. The firm currently serves the North American market but plans on expanding internationally soon.
Knowde’s team comprises experts with experience in both traditional sectors and tech-based startups that understand how to optimize user experiences for their online platform. With their most recent funding round, Knowde plans to invest further in customer engagement that will drive long-lasting customer relationships both domestically and in international markets when they expand overseas later 2021.
Digital marketplace for chemicals company Knowde recently closed its $72m Series B funding. This brings the company’s total funding to date to $87m. The round was backed by various venture capital firms, angel investors and individual investors.
Let’s closely examine who the investors are behind Knowde’s Series B funding.
Knowde’s Series B financing was led by The C&L Advisor Group, an international professional services and corporate development telematic firm, with participation from Los Angeles-based venture capital firm Glide Capital. In addition, C&L Advisor Group Executive Director Phillip Jons will join Knowde’s Board of Directors as part of the financing.
The infusion of funding will allow Knowde to expand its customer engagement platform for companies in the chemical industry. With this new financing round, Knowde has raised $30 million from investors including GGV Capital and Rakuten Ventures.
Phillip Jons brings extensive web marketing and corporate development experience to Knowde’s board, having previously held executive positions at Omnicom Media Group and Agency21 International Ltd. In addition to Mr. Jons’ appointment as Executive Director on the Board, Glide Capital partner Genevieve Patricelli will serve as an outside director on Knowde’s Board of Directors. With current outside directors Mike Zilis (GGV Capital) and Tomochika Uyama (Rakuten Ventures), this new influx of capital gives Knowde a strong foundation going into its next growth phase.
In addition to the investors mentioned above, the Knowde Series B funding round was supported by other prominent investors. These include:
-Alpha Capital Partners LLC
-The Chvala Venture Fund
-The Pinker Group LLC
-IPL Ventures Inc
-RIT Capital Partners plc
-sBLJ Enterprises Ltd.
-Fellation Ventures Ltd.
Each of these investors bring unique perspectives and experiences in business, technology and venture capital that will further enhance the success of the Knowde platform. This is the first time these investors have joined forces to build a business together. Each brings valuable insights into how we can build sustainable scalability for the company’s growth trajectory.
Digital marketplace for chemicals Knowde raises $72m in Series B funding
The recent $72 million Series B funding for the Digital marketplace for chemicals, Knowde, is a huge boost for the company that has achieved tremendous success quickly.
This funding will positively impact the company’s operations and growth. From setting up a global presence to expanding its team and customer base, this important funding will empower the company to take bigger steps in the right direction.
Securing funding from investors is one of the most important steps businesses take to help realize their growth plans. Knowde’s Series B funding provided the financial backing necessary to make long-term investments in product development and build a larger team. It also allowed them to provide a better service to customers by scaling up operations, automating processes, and developing new features.
The new investor group, which included venture capital firms and corporate investors, brought a wealth of knowledge and resources to support the company’s expansion plans. These include increasing their domestic and international user base; introducing additional services for customers; broadening the scope of their product offering; recruiting top talent from around the world; global outreach efforts; and making strategic acquisitions.
Knowde’s Series B financing will also indirectly benefit its customer base since it provides more resources for continual improvement in service delivery, streamlined support systems, automated processes, advanced analytics capabilities, improved user experience designs, new security protocols, and greater accuracy data analysis. This additional funding boosts Knowde’s ability to progress towards achieving its growth goals and bolsters customer confidence in its services.
As part of Knowde’s Series B funding round, the company can invest further in its product. This investment will enable the company to accelerate product development, launch new features, and grow its user base.
Funding during this stage of a company’s growth can significantly boost the development needs of the product. By allowing Knowde to bring in more talent, build out the platform more quickly and develop new products, the impact of this funding can be felt throughout the organization.
For example, having access to more resources allows Knowde to increase their focus on research and development (R&D). This can include internally funded projects or engaging industry partners and external developers to support new features or develop entirely new products. In addition, with additional funds available for marketing activities such as content campaigns or PR initiatives, Knowde can better reach potential customers.
The infusion of capital from this Series B round provides a valuable tool for accelerating growth and market awareness for Knowde’s short-term goals and positioning it for long-term success.
Knowde’s Series B funding was provided by vastly experienced and prestigious investors, demonstrating their trust in the company’s mission and strategy. With this infusion of capital and expertise, Knowde will be able to realize its vision of becoming a trusted go-to source for enterprise buyers across the world.
Looking ahead, Knowde’s leadership team is planning targeted marketing campaigns, key partnerships and further investments supporting its growth initiatives. The aim is to enable more enterprises to benefit from cutting-edge marketing technologies and become more efficient sales thinkers.
With the valuable support of its new investors, Knowde is on track to achieve these objectives.
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