Value Chain Management System company Altana announced a $200 million Series C investment led by Thomas Tull’s US Innovative Technology Fund (USIT). This funding round included participation from March Capital, Generation Investment Management, Salesforce Ventures, Friends and Family Capital, and Altana’s existing investors, including GV (Google Ventures), Activate Capital, Floating Point, and OMERS Ventures. This funding round brings Altana’s valuation to $1 billion.
In the last few years, governments introduced trade restrictions, economic security, procurement, climate, and national security policies that govern global value chains, reversing decades of trade liberalization. Businesses now must know and manage global value chains, from the sourcing and processing raw materials through intermediate production and final assembly to sale and end-use. There was no way to know, connect, or manage across these extended networks beyond direct buyer-supplier relationships. This is what Altana addresses.
Altana’s Value Chain Management System unlocks solutions that have never been possible at scale by bringing applied AI to the infrastructure of global commerce. And this includes 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 launched in 2019 by 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 a comprehensive body of supply chain data – 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 funding 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, like 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, use Altana to manage their multi-tier, global value chains.
KEY QUOTES:
“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. 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 of Altana
“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. We look forward to supporting Altana’s team as they grow these critical tools that will make global business more resilient, secure, and sustainable.”
- Peter Tague, Managing Partner of USIT
