Scoop: Sequoia-backed Knowde raises Series C at a valuation cut
Knowde, an online marketplace for chemicals and polymers, just closed on a Series C round, TechCrunch has exclusively learned.
The San Jose-based startup raised $60 million in a round that values it lower than the $500 million valuation it garnered in its most recent round, according to multiple sources familiar with the matter. This round values the company at north of 20x ARR, according to a source familiar with the transaction. The round included new investors: Blue Cloud Ventures and Point72 Private Investments in addition to existing backer Sequoia.
Knowde declined to comment.
The company has now raised more than $150 million in total venture funding. Its most recent round prior to this was a $72 million Series B led by Coatue; it closed in August 2021. Sequoia led the firm’s $14 million Series A round that closed in May 2020.
Knowde launched in 2017 to bring the chemical and polymer market online. Co-founder and CEO Ali Amin-Javaheri is the child of a DuPont chemist; he’s spent his entire career in the industry. Prior to starting Knowde, Amin-Javaheri worked at ChemPoint, which also tried to introduce technology to the chemicals market, before pivoting to being a middleman distribution platform.
Knowde currently has more than 8,000 chemical suppliers in its marketplace and works with such brands as Unilever, Johnson & Johnson and P&G, among many others.
