Global supply chain management system Altana has reached unicorn status – a $1 billion valuation – after closing a $200 million Series C investment led by the US Innovative Technology Fund (USIT) with participation from March Capital, Generation Investment Management, Salesforce Ventures, and Friends & Family Capital.
“In this new era of globalization, it is crucial for all public and private organizations to shore up their supply chains and for the whole ecosystem to maintain a streamlined, unified information flow. … Altana’s supply chain intelligence software provides this collective information, empowering companies and governments to understand the vulnerabilities and opportunities within their supply chains, while still maintaining strict customer data privacy,” Peter Tague, managing partner at USIT, said in the Monday release.
The software provider’s existing investors also participated in the round. They include Google Ventures, Activate Capital, Floating Point and Omers Ventures.
Since its inception, Altana has focused on bringing transparency to global supply chains for its customers, highlighting weaknesses related to trade restrictions, government regulations and forced labor risks. This strategy has led to securing customers like U.S. Customs and Border Protection, U.K. government agencies, Maersk and Lloyd’s Insurance.
Related: Shippers, regulators tap into technology to ferret out illicit imports
While tracking supply chain risks for its clients, the company also provides technological support for calculating sustainability initiatives and Scope 3 emissions.
Funding details: Altana
For example, Altana and Epoch Blue, an environmental monitoring system, partnered in June to enhance its ability to measure decarbonization in agriculture and forestry supply chains. The collaboration aims to reduce the 10 gigatons of carbon dioxide emissions from over 2 billion farms across the globe.
Altana also announced in June it had launched its technologies’ next-generation platform, the Value Chain Management System. This enhanced platform uses AI to integrate supply chain data, documentation, internal knowledge, surveys and third-party analytics.
With its new funding, the company looks to accelerate its product development and workflows while also improving on its current private and public sector partnerships.
“The era of unbridled outsourcing is over. Our platform is uniquely suited to facilitate a new paradigm – organized around trusted global value chains. And this investor group is uniquely suited to accelerate our go-to-market efforts with both governments and enterprises globally. We couldn’t have better partners joining this mission,” Evan Smith, CEO and co-founder, said in the release.
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