Tradeshift is a cloud based business network and platform for supply chain payments, marketplaces, and apps. Its 2018 round of funding, led by

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

, raised US$250 million at a valuation of $1.1 billion, giving the company

unicorn The unicorn is a legendary creature that has been described since antiquity as a beast with a single large, pointed, spiraling horn projecting from its forehead. In European literature and art, the unicorn has for the last thousand years o ...

status. Tradeshift is Headquartered in

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

. Tradeshift serves 300 companies and has reprocessed over $1Trillion USD through transactions.

History

Tradeshift was founded in 2010 by Christian Lanng, Mikkel Hippe Brun, and Gert Sylvest. Inspiration for Tradeshift came after they created the world's first large scale peer-to-peer infrastructure for an e-business called NemHandel. The founders also had leading roles (Governing board member, Technical Director) in the European Commission project

PEPPOL Peppol (''Pan-European Public Procurement Online'') is a set of specifications for establishing and also the primary implementation of a federated electronic procurement system for use across different jurisdictions. Through Peppol, participa ...

inside the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

. In 2010, the Tradeshift platform launches in May in

Copenhagen Copenhagen ( or .; da, København ) is the capital and most populous city of Denmark, with a proper population of around 815.000 in the last quarter of 2022; and some 1.370,000 in the urban area; and the wider Copenhagen metropolitan ar ...

. Tradeshift won the European Startup Awards in the category of "Best Business or Enterprise Startup." In 2011, Tradeshift makes its App marketplace available. In 2012, Tradeshift moves their headquarters from Copenhagen to

. In 2013, Tradeshift opened an R&D center in

Suzhou, China Suzhou (; ; Suzhounese: ''sou¹ tseu¹'' , Mandarin: ), alternately romanized as Soochow, is a major city in southern Jiangsu province, East China. Suzhou is the largest city in Jiangsu, and a major economic center and focal point of trade ...

. Tradeshift opens an additional office in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

. And LATAM e-invoicing capabilities are added through partnership with Invoiceware. In 2014, Tradeshift expanded with offices in

Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.468 ...

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...

, and

Munich Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the States of Germany, German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the List of cities in Germany by popu ...

. The EU Commission officially approved the Universal Business Language (UBL) data format – a format Tradeshift supports – as eligible for referencing in tenders from public administrations. In 2015, Tradeshift won the Circulars "Digital Disruptor" Award at the WEF conference in

Davos, Switzerland , neighboring_municipalities= Arosa, Bergün/Bravuogn, Klosters-Serneus, Langwies, S-chanf, Susch , twintowns = } Davos (, ; or ; rm, ; archaic it, Tavate) is an Alpine resort town and a municipality in the Prättigau/Davos Reg ...

. Tradeshift also acquired product information management company Merchantry, and launched e-procurement and supplier risk management solutions. In 2016, Tradeshift acquired Hyper Travel and secured a $75 million series-D round funding. In 2017, Tradeshift acquired IBX Business Network and launches Tradeshift Ada. In 2018, secured a $250 million series-E round funding. and launches Blockchain Payments, the latter as part of Tradeshift Pay. In December 2018 Tradeshift acquires Babelway, an online B2B integration platform. The acquisition added three new office locations to Tradeshift (

Salt Lake City Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the Capital (political), capital and List of cities and towns in Utah, most populous city of Utah, United States. It is the county seat, seat of Salt Lake County, Utah, Sal ...

Louvain-la-neuve Louvain-la-Neuve (, French for ''New Leuven''; wa, Li Noû Lovén) is a planned town in the municipality of Ottignies-Louvain-la-Neuve, Wallonia, Belgium, situated 30 km southeast of Brussels, in the province of Walloon Brabant. The town was ...

Belgium Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...

Cairo Cairo ( ; ar, القاهرة, al-Qāhirah, ) is the capital of Egypt and its largest city, home to 10 million people. It is also part of the largest urban agglomeration in Africa, the Arab world and the Middle East: The Greater Cairo metro ...

Egypt). In Q3 2018, Tradeshift reported year-over-year revenue growth of 400%, new bookings growth of 284%, and gross merchandise volume (GMV) growth of 262%. New total contract value also grew by US$47 million. Additionally, it added 27 new customers including Hertz, Shiseido, ECU and multiple Fortune 500 companies. In October 2019, Tradeshift partnered with Abreon to help businesses implement new technology and establish new procedures smoothly and effectively. In March 2020, Tradeshift collaborated with DXC for automation of procure-to-pay processes.

Financials

The company's valuation as of May 2018 was $1.1 billion. Tradeshift is now considered a

, and according to Bloomberg, will not need any further funding. Jan 14, 2020, Tradeshift announced that they'd raised $240M in Series F finance.

Acquisitions

2015: Tradeshift acquires product information management company Merchantry. Merchantry is retail product information management (PIM) software for multi-vendor ecommerce retailers. Merchantry is known for managing retail product information for ecommerce retailers, including amazon.com, Marks & Spencer, and others. 2016: Tradeshift acquires Hyper Travel. Hyper Travel is a travel management service that allows customers to access travel agents via its native messaging apps, SMS, and email. 2017: Tradeshift acquires IBX Business Network. 2018: Tradeshift acquires Babelway, an online B2B integration platform.

Customers

As of 2018, Tradeshift has over 500 global customers spanning six continents and 190 countries. A sampling of Tradeshift customers include Air France KLM, Kuehne + Nagel International AG, DHL, Fujitsu, HSBC, Siemens, Société Générale, Unilever, and Volvo.

References

{{Reflist __FORCETOC__ Web applications Financial software companies Financial services companies of Denmark Software companies of Denmark Danish companies established in 2010 Software companies established in 2010

History

Financials

Acquisitions

Customers

Further reading

References