Summary:
Knowde, a chemical and polymer marketplace, raised $60 million in Series C funding.
The new valuation is lower than its previous $500 million valuation, coming in at north of 20x ARR.
New investors include Blue Cloud Ventures and Point72 Private investments, alongside existing backer Sequoia.
Knowde aims to bring transparency and efficiency to the chemical supply chain.
Despite the lower valuation, Knowde's focus on digitalizing the industry and its growth suggest potential for long-term success.
Knowde's Valuation Takes a Hit in $60 Million Series C: What's Going On?
Knowde, a chemical and polymer marketplace, has closed a $60 million Series C round. This round values the company lower than its $500 million valuation in the 2021 Series B. Sources say the new valuation is north of 20x ARR.
New Investors in this round include Blue Cloud Ventures and Point72 Private investments, alongside existing backer Sequoia. This brings Knowde's total venture funding to over $150 million.
Founded in 2017, Knowde aimed to bring the chemical and polymer market online. Co-founder and CEO Ali Amin-Javaheri, with a background in the industry, has seen firsthand the need for greater transparency and efficiency in the chemical supply chain.
Knowde currently boasts over 8,000 chemical suppliers in its marketplace and works with notable brands like Unilever, Johnson & Johnson, and P&G.
The lower valuation could be attributed to the current market conditions, which have seen a pullback in investments for startups. Despite this, Knowde's focus on digitalizing the chemical industry and its impressive growth highlight its potential for long-term success.
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