SAN JOSE, Calif., Aug. 5, 2021 /PRNewswire/ -- Knowde, the leading marketplace for ingredients, polymers and chemistry, today announced that it has raised $72 million in Series B financing led by Coatue. Existing investors Sequoia Capital, Refactor Capital, Bee Partners and Cantos Ventures are also participating in this round, alongside new investors Sound Ventures, a venture capital firm founded by Ashton Kutcher and Guy Oseary; TQ Ventures, founded by Schuster Tanger, Andrew Marks, and Scooter Braun; K5 Global; and, Mantis VC, in partnership with The Chainsmokers.
"Digital marketplaces have the power to transform industries," said Kris Fredrickson, Managing Partner at Coatue. "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."
The chemical and ingredient industry, which generates $5 trillion in annual revenues and impacts more than 25 percent of global GDP, has relied on field sales teams, catalogs and other traditional marketing tactics for more than a century.
With Knowde, for the first time ever, buyers can search, compare, sample, quote and purchase products from every producer on earth — all in one place. Suppliers get the leading-edge technology they need to extend their market reach, lower cost of sales and provide their customers with the online buying experience they desire.
Knowde recently expanded its presence to cover every major vertical across the entire industry. Knowde now has thousands of supplier storefronts on its platform — more than any distributor, marketplace or middleman organization in the history of the industry.
With this round, Knowde will invest in product development for new buyer and supplier features, further enhancements to its ecommerce capabilities, and international expansion opportunities.
"This is one of the few remaining industries that has not been touched by software. Marketplaces have instantly modernized major industries. Knowde is bringing this same experience to the largest market in the world," said Ali Amin-Javaheri, co-founder and CEO of Knowde. "We couldn't be more thrilled to be supported by Coatue and all our other investors. To the future!"
Knowde is the leading online marketplace for producers and buyers of ingredients, polymers and chemistry. The Knowde.com marketplace allows buyers to search, compare, sample, quote and purchase products from every producer on earth, all in one place. With more than 100,000 products and thousands of producer storefronts — more than any distributor, marketplace or middleman organization in the history of the industry — Knowde is the largest marketplace of its kind. Knowde is backed by top tier investors including Coatue, Sequoia Capital, Refactor Capital, Bee Partners, Cantos Ventures, Sound Ventures, TQ Ventures, K5 Global, Mantis VC, Knollwood, 8VC, and FJ Labs. For more information, visit www.knowde.com.
Coatue is one of the largest technology investment platforms in the world with over $40 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
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