CADDi – a global procurement solutions provider for the manufacturing industry – recently announced that it has secured a $89 million Series C funding round, raising its total capital to $164 million.
The funding round was co-led by existing investors including Globis Capital Partners, DCM Ventures, Global Brain, World Innovation Lab (WiL), JAFCO Group, and Minerva Growth Partners with participation from 4 new investment partners.
CADDi launched in November 2017 and aims to revolutionize the manufacturing sector by providing two innovative solutions: CADDi Manufacturing (a parts procurement platform), and CADDi Drawer (a cloud service for managing drawing data).
The new funding round will be primarily deployed to bolster the “CADDi Manufacturing” division, enhance the technological capabilities of “CADDi Drawer,” and expand the global workforce to achieve our goals of generating $10 billion in revenue by 2030 with CADDi Drawer contributing over $100 million in ARR within a few years and $1 billion in revenue by 2030.
In order to achieve these targets, the company’s US office will expand to 100 employees within a year.
CADDi – which has a major presence in Japan – is also concentrating on international expansion. And with 590 employees globally, it has recently established a US division and Mexico supplier operations to cater to American manufacturers.
In March 2023, CADDi announced that it established an office in Hanoi, Vietnam. And CADDi established an office in Chicago in January 2023 to provide manufacturers based in the country with “CADDi Manufacturing.”
