SAN JOSE, CALIF. — Knowde, an online marketplace for ingredients, polymers and chemicals, raised $72 million in a Series B funding round led by technology investment platform Coatue.
Sequoia Capital, Refactor Capital, Bee Partners and Cantos Ventures also participated in the round, alongside new investors Sound Ventures, TQ Ventures, K5 Global and Mantis VC, in partnership with The Chainsmokers.
Originally launched to connect buyers and suppliers in the personal care industry, Knowde allows users to search, compare, sample, quote and purchase products from leading producers, who benefit from expanded market reach and lower costs of sales. The platform, which recently expanded its presence to cover the food and nutrition industry, features thousands of supplier storefronts.
It will use the new capital to invest in international expansion opportunities, enhancements to its e-commerce capabilities and product development for new buyer and supplier features.
“This is one of the few remaining industries that has not been touched by software,” said Ali Amin-Javaheri, co-founder and chief executive officer of Knowde. “Marketplaces have instantly modernized major industries. Knowde is bringing this same experience to the largest market in the world.”