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Tradeshift Announces Q3 2019 Results

November 12, 2019 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Nov 12, 2019--

Tradeshift, the leader in supply chain payments and marketplaces, today announced results from the third quarter of 2019, marked by international expansion in Australia, Japan, Mexico, and Brazil.

Tradeshift’s third quarter growth stats announced today include:

  • LTM ACV Bookings grew 78% / 1.8x
  • LTM revenue grew 107% / 2.1x
  • 88 new customers signed

Key highlights include:

  • Signed a landmark deal with with The Central America Bottling Corporation (CBC), Latin America’s largest bottling company on data-driven financing
  • Opened offices in Mexico City, São Paulo and Miami, as well as expanded current offices in San Francisco, New York, Alexandria, Bucharest and Kuala Lumpur
  • Signed over 100 new deals including Nippon Steel Kowa Real Estate (Japan), one of the world’s top sporting goods and apparel manufacturers, and a major Korean tech company
  • Signed 64 Tradeshift Go deals through various banking alliance partners; 40% MoM growth
  • Major new customer go-live, as part of our expansion in Australia; 40% of invoice volume now electronically submitted after just 8 weeks
  • Global Bank committed to a further four countries for Pay (UAE, Canada, Hang Seng & India)

“The results from the third quarter unequivocally show that Tradeshift’s offerings are resonating with major global companies,” said Christian Lanng, CEO of Tradeshift. “Adding new offices, employees and customers across the world will only serve to help us dominate the global market, and is making 2020 look incredibly exciting for us.”

About Tradeshift

Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005233/en/

CONTACT: Dave Pedersen

pr@tradeshift.com

KEYWORD: CALIFORNIA SOUTH AMERICA CENTRAL AMERICA AUSTRALIA NORTH AMERICA ASIA PACIFIC JAPAN UNITED STATES AUSTRALIA/OCEANIA

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT DATA MANAGEMENT RETAIL TECHNOLOGY MOBILE/WIRELESS INTERNET

SOURCE: Tradeshift

Copyright Business Wire 2019.

PUB: 11/12/2019 09:00 AM/DISC: 11/12/2019 09:02 AM

http://www.businesswire.com/news/home/20191112005233/en