Altana Closes $200M Series C to Enable the Public and Private Sectors to Take Command of Global Value Chains
29 Julio 2024 - 5:00AM
Business Wire
With a valuation of $1B, the funding round was
led by Thomas Tull’s US Innovative Technology Fund
Altana, the world’s first Value Chain Management System, today
announced a $200 million Series C investment led by Thomas Tull’s
US Innovative Technology Fund (USIT). The funding round included
participation from March Capital, Generation Investment Management,
Salesforce Ventures, Friends and Family Capital, and each of
Altana’s key existing investors, including GV (Google Ventures),
Activate Capital, Floating Point, and OMERS Ventures. The funding
brings Altana’s valuation to $1 billion.
Over the past three years, governments have introduced thousands
of trade restrictions, economic security, procurement, climate, and
national security policies that seek to govern global value chains,
reversing decades of trade liberalization. Businesses now must know
and manage their global value chains, from the sourcing and
processing of raw materials, through intermediate production and
final assembly, to sale and end use. Until Altana, there was no way
to know, connect, or manage across these extended networks beyond
direct buyer-supplier relationships.
“Great power competition, climate change, and the breakdown of
globalization are generational challenges that require a new model
for managing global business, including a more assertive role for
government,” said Evan Smith, CEO and co-founder of Altana. “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.”
Altana is tackling some of the world’s thorniest problems – from
building economic security, to mitigating carbon emissions, to
protecting critical industries and infrastructure. Its Value Chain
Management System unlocks solutions that have never been possible
before at scale by bringing applied AI to the infrastructure of
global commerce. These include: the first-ever system to provide
accurate Scope 3 carbon measurement; the ability to root out forced
labor from customers’ supply chains; the ability to intelligently
coordinate supply and demand across multiple tiers of the supply
chain to reduce costs and working capital; the ability to price and
insure against the risks of supply chain business interruptions;
and, the ability to defend critical supply chains from geopolitical
adversaries.
Altana was founded in 2019 by industry pioneers Evan Smith,
Peter Swartz, and Raphael Tehranian to address the staggering lack
of visibility across siloed supply networks by creating an
accurate, unified digital representation of global value chains.
Since its founding, Altana has connected and organized the world’s
most comprehensive body of supply chain data ever assembled –
informed by many of the world’s largest public and private
organizations – to create a shared source of truth on the global
supply chain network. The Series C investment will fuel an
ambitious phase of product development to power AI-driven,
collaborative workflows on top of this data platform, enabling the
public and private sectors to collaboratively manage security,
procurement, compliance, global trade, sustainability, and more
across multi-tier value chains.
The world’s most important public and private sector
organizations, including Maersk, Boston Scientific, ZF, the Lloyd’s
Insurance Market, US Customs & Border Protection (US CBP), and
multiple UK government agencies through the UK Global Supply Chain
Intelligence Programme, all use Altana to manage their multi-tier,
global value chains.
“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,” said Peter Tague, Managing Partner of USIT. “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. We look forward to
supporting Altana’s team as they grow these critical tools that
will make global business more resilient, secure, and
sustainable.”
About Altana
Altana is the world’s first Value Chain Management System, a
collaborative, public-private network that enables customers to
take command of their extended supplier and distribution networks –
from raw material origins to the sale of finished products. By
applying artificial intelligence to the world’s largest body of
supply chain data, Altana reveals these previously opaque global
networks and powers workflows across them. Customers like Boston
Scientific, L.L.Bean, Maersk, US Customs and Border Protection, and
the UK Department of Business and Trade use Altana to build secure,
resilient, efficient, and sustainable global value chains. To learn
more, visit: https://altana.ai/.
This press release contains forward-looking statements. These
forward-looking statements are subject to a number of risks and
uncertainties. It is not possible for us to predict all risks, nor
can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements.
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