Tradeshift Accelerates Market Growth and Leadership with $30M Acquisition of Merchantry
SAN FRANCISCO–Tradeshift, the fastest growing supplier collaboration platform, today announced that it has acquired Merchantry, a leading cloud-based product information management (PIM) provider, for $30 million in cash and stock.
“Merchantry’s industry-leading innovation in PIM and its e-commerce domain expertise will extend the power and value of the Tradeshift platform for our customers and their suppliers globally,” said Jigish Avalani, President and COO of Tradeshift. “This acquisition plays an important role advancing Tradeshift’s vision to help companies transform and digitize their supply chain relationships and processes.”
Merchantry helps large organizations successfully grow their e-commerce businesses by building, scaling and streamlining online marketplaces. Their PIM technology enables organizations to quickly connect to their suppliers, allowing them to manage millions of product SKUs and ensure consistent, accurate product information across multiple online channels. Merchantry was founded in 2004 to provide e-commerce integration technology to large retailers such as Amazon.com, Marks & Spencer, bebe, and others. Merchantry’s customers include PacSun, La Redoute and Modell’s Sporting Goods.
“Merchantry was founded to solve the connectivity, complexities and business challenges that buyers and suppliers face in maintaining consistency and accuracy across vast amounts of product data,” said Rick Watson, CEO, Merchantry. “The success of our vision will now make an even greater impact through the Tradeshift platform and its ability to transform how businesses transact globally.”
The company’s major investors were Kite Ventures, Greycroft Partners, and e.ventures, with the first outside investment received in 2010.
Lumos Partners was the exclusive advisor to Merchantry on the transaction.
Founded in 2010, Tradeshift is the world’s largest business commerce platform that connects buyers and sellers. Tradeshift connects over 1.5 million companies across 190 countries, processes over half a trillion USD in transaction value yearly, and has a marketplace containing 28 million SKUs. It offers solutions for procure to pay, supplier engagement and financial services, and enables companies and partners to build custom or commercial apps on its business commerce platform. Tradeshift is headquartered in San Francisco, with offices in Copenhagen, New York, London, Paris, Suzhou, Chongqing, Tokyo, Munich, Frankfurt, Sydney, Bucharest, Oslo, Stockholm, and Kuala Lumpur.