Participated · Equity · Jun 2023

Plot provides a digital workspace to manage construction jobsites, offering tools such as a Delivery Calendar, Logistics Map, and Structured Messenger to align project teams. Led by founder and CEO Chris Callen, the company plans to launch a Lead Time module focused on construction material ordering and shipment. Plot raised $2M in the reported round and has now raised just over $3M in total. The company intends to use the new funds to expand its product and engineering team and to begin building sales and customer success teams. Investors in the round include a mix of venture and strategic backers named in the announcement.

Participated · Equity · Dec 2021

Tradeshift operates a platform for building B2B payments, supply‑chain procurement and B2B marketplace services and says its business network has more than 1 million users, including customers such as Danone and the U.K.’s NHS. The company plans to invest the new capital to scale its business network and add more SaaS, B2B marketplace and embedded financial services, and it is also considering acquisitions. Tradeshift, originally founded in Denmark and now headquartered in San Francisco, has faced slower trade and logistics activity post‑COVID and reported growth running about four points below the expected range; Q2 showed tentative signs of recovery in the U.S. while Europe and China disappointed. The company has cited working capital and liquidity — not demand — as key current constraints. Recent historical financings include a $200M Series F in March 2021 at a $2.7B post‑money valuation, a $170M debt round in late 2021, and secondary and additional undisclosed rounds in 2022. Tradeshift provides a combined enterprise SaaS, marketplace and fintech product suite that helps buyers and suppliers digitize invoice processing, automate accounts payable workflows and scale commerce across supply chains. The company has built a large global trade network in the cloud and embeds financial services into its product to free up working capital for suppliers. Tradeshift has launched products including Tradeshift Go (card/charge volumes) and Tradeshift Cash (a factoring product to help suppliers access cash). It says cumulative transaction value processed across its network has passed $1 trillion, having doubled in two years, and Tradeshift Go charge volumes were predicted to exceed $2.5 billion in 2021 (a 600% year‑on‑year rise). The company intends to use new capital to optimize growth and its balance sheet and continue scaling the business. Investors previously in the company include American Express Ventures, HSBC, Goldman Sachs and Wipro Digital. Tradeshift builds supply-chain payments, ePayables and marketplace software, including products such as Tradeshift Pay and Tradeshift Go. The company positions itself as a networked business and is focused on monetizing trade finance across a user base of over two million suppliers. Tradeshift reported more than two years of strong quarterly revenue growth and said 2019 was its best year, with over 60% revenue growth, more than 250 deals closed, an average deal size that doubled, and over 40% of cumulative transaction volume occurring in the past year. The new capital is intended to accelerate growth across core product lines and put the company on a direct path to profitability in the near future. Management said it will cut costs, including reducing headcount in expensive San Francisco offices and reallocating resources to lower-cost locations, while prioritizing costs and margins. The company first appeared in 2008 and is delaying a planned IPO to "get its house in order" amid a cooling IPO market. Tradeshift operates a supply-chain payments and marketplaces platform designed to digitize trade and supply chains. The company has recently added blockchain capabilities to its product suite. Leadership says the investment will enable continued rapid growth and consolidation of its market position as B2B online transactions increase. Tradeshift positions itself as a leader in supply chain commerce by helping corporations take greater control of their supply chains. The company has raised more than $400 million to date and says its valuation has passed $1.1 billion. Mikkel Hippe Brun, Tradeshift’s GM of China and co-founder, will join the company’s board; Gray Swan, a new venture company established by Tradeshift’s founders, participated in the round. Tradeshift is a business commerce and supply-chain finance platform led by CEO and Chairman Christian Lanng. The company connects 800,000 companies across 190 countries, including customers such as DHL, Zurich Insurance Group and the National Health Service. It operates a B2B marketplace and provides supply-chain finance capabilities for corporate customers. Tradeshift intends to use new investment to broaden its capabilities, accelerate development of its platform, and grow the ecosystem around its marketplace. The company is headquartered in San Francisco and has offices in Copenhagen, New York, London, Paris, Suzhou, Tokyo, Munich and Sydney. The article notes the amount of the investment was not disclosed.