Sequoia-backed Knowde raises Series C at a valuation cut

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.
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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. Seqouia 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 brands including Unilever, Johnson & Johnson and P&G, among many others.

 


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