Knowde, an online marketplace for chemicals and polymers, today announced the closing of a successful Series C funding round. They won an amazing $60 million in new funding! This most recent financing push has pushed the company’s total venture capital to more than $150 million. The company’s recent round values Knowde below its last round, about half its prior $500 million valuation, in line with broader market correction.
Ali Amin-Javaheri, co-founder and CEO of Knowde, has a long family background in the chemical industry. The son of a DuPont chemist, growing up Burdick was immersed in the world of science. Now, he’s animatedly changing the way that chemicals and polymers are sold and shipped. Prior to founding Knowde, Amin-Javaheri worked at ChemPoint, a company that attempted to integrate technology into the chemicals market but eventually transitioned to a middleman distribution platform.
Knowde’s innovation marketplace connects over 8,000 chemical suppliers. It supports business development through partnerships with companies such as Unilever, Johnson & Johnson, and Procter & Gamble. The platform provides a one-stop, user-friendly experience to quickly search, compare and source thousands of safer chemical products. The company is the most highly-valued private computing company ever with a more than 20x ARR valuation. It intends to leverage its increasing supplier network to enhance its service offerings and deepen its market penetration.
The new funding round is a strong indication of the investor confidence that remains in Knowde’s business model even after the fourfold valuation re-adjustment. In August 2021, the company closed a $72 million Series B round. This financing was led by Coatue and solidified its financial footing. In May 2020, Sequoia Capital participated in Knowde’s $14 million Series A round. Today’s investment is further evidence that some of the best venture capitalists in the world believe in the company’s long term potential.
Amin-Javaheri’s vision for Knowde was to use technology to simplify and innovate the often-complex chemicals marketplace. His extensive experience in the industry positions him well to navigate the challenges and opportunities that come with managing an innovative platform in this sector.