Tradeshift, originating from Denmark, has announced a $17M investment round from two Moscow based investors at a valuation of $137M , according to a recent press release. The investors in the round were ru-Net and Kite Ventures. The company stated the money will be used to speed up product development and expand into the North American market.
Tradeshift, which was launched in May 2010, has now some 60 000 companies across 190 countries using its services. It also attracts some 2000 users each week. In a nutshell, the company operates a social network for companies, which has seen first concrete solutions in the areas of e-invoicing and cashflow management.
ru-Net and Kite Ventures are experienced in European startups and IT sectors in general. ru-Net has invested in about 30 companies across the globe, most notably perhaps into Yandex. Kite Ventures on the other hand has investments in SponsorPay, Pixonic and Darberry (acquired by Groupon) to name a few.
So what values Tradeshift so high? I believe Christian Lanng, CEO and co-founder of Tradeshift perhaps sums it up best with, “we’re not just focused on launching products. With 60,000 companies in nearly 190 countries worldwide already using the platform, we’re committed to building the network and helping organizations shift the way they do business.”