Knowde, a San Jose-based online marketplace for chemicals and polymers, has successfully closed a Series C funding round, raising $60 million. This recent round, which includes new investors Blue Cloud Ventures and Point72 Private Investments, values the company at over 20 times its annual recurring revenue (ARR).
Founded in 2017, Knowde aims to revolutionize the chemical and polymer market by bringing it online. Co-founder and CEO Ali Amin-Javaheri, who grew up in the industry as the child of a DuPont chemist, has been dedicated to transforming the sector throughout his career. Prior to establishing Knowde, Amin-Javaheri worked at ChemPoint, a company that also sought to introduce technology to the chemicals market.
Knowde’s total venture funding now exceeds $150 million, with significant investments from prominent organizations such as Coatue and Sequoia. The previous Series B funding round, led by Coatue, raised $72 million in August 2021. Sequoia, a long-time supporter, led Knowde’s first funding round with a $14 million investment in May 2020.
With its latest funding injection, Knowde is well-positioned to continue its growth and further establish itself as a leader in the online chemical and polymer marketplace. The company currently boasts a user base of more than 8,000 members, connecting buyers and sellers in a streamlined and efficient manner.
Knowde’s successful Series C funding round not only demonstrates investor confidence in its business model but also highlights the potential for digital disruption in the chemicals industry. By leveraging technology and innovation, Knowde is driving the transformation of a traditionally complex and opaque market, benefiting both businesses and consumers alike.