NEW YORK - July 29, 2024 - Altana, the world’s first Value Chain Management System, today announced a $200 million Series C investment led by Thomas Tull’s US Innovative Technology Fund (USIT). The funding round included participation from March Capital, Generation Investment Management, Salesforce Ventures, Friends and Family Capital, and each of Altana’s key existing investors, including GV (Google Ventures), Activate Capital, Floating Point, and OMERS Ventures. The funding brings Altana’s valuation to $1 billion.
Over the past three years, governments have introduced thousands of trade restrictions, economic security, procurement, climate, and national security policies that seek to govern global value chains, reversing decades of trade liberalization. Businesses now must know and manage their global value chains, from the sourcing and processing of raw materials, through intermediate production and final assembly, to sale and end use. Until Altana, there was no way to know, connect, or manage across these extended networks beyond direct buyer-supplier relationships.
“Great power competition, climate change, and the breakdown of globalization are generational challenges that require a new model for managing global business, including a more assertive role for government,” said Evan Smith, CEO and co-founder of Altana. “The era of unbridled outsourcing is over. Our platform is uniquely suited to facilitate a new paradigm – organized around trusted global value chains. And this investor group is uniquely suited to accelerate our go-to-market efforts with both governments and enterprises globally. We couldn’t have better partners joining this mission.”Altana is tackling some of the world’s thorniest problems – from building economic security, to mitigating carbon emissions, to protecting critical industries and infrastructure. Its Value Chain Management System unlocks solutions that have never been possible before at scale by bringing applied AI to the infrastructure of global commerce. These include: the first-ever system to provide accurate Scope 3 carbon measurement; the ability to root out forced labor from customers’ supply chains; the ability to intelligently coordinate supply and demand across multiple tiers of the supply chain to reduce costs and working capital; the ability to price and insure against the risks of supply chain business interruptions; and, the ability to defend critical supply chains from geopolitical adversaries.
Altana was founded in 2019 by industry pioneers Evan Smith, Peter Swartz, and Raphael Tehranian to address the staggering lack of visibility across siloed supply networks by creating an accurate, unified digital representation of global value chains. Since its founding, Altana has connected and organized the world’s most comprehensive body of supply chain data ever assembled – informed by many of the world’s largest public and private organizations – to create a shared source of truth on the global supply chain network. The Series C investment will fuel an ambitious phase of product development to power AI-driven, collaborative workflows on top of this data platform, enabling the public and private sectors to collaboratively manage security, procurement, compliance, global trade, sustainability, and more across multi-tier value chains.
The world’s most important public and private sector organizations, including Maersk, Boston Scientific, ZF, the Lloyd’s Insurance Market, US Customs & Border Protection (US CBP), and multiple UK government agencies through the UK Global Supply Chain Intelligence Programme, all use Altana to manage their multi-tier, global value chains.
“In this new era of globalization, it is crucial for all public and private organizations to shore up their supply chains and for the whole ecosystem to maintain a streamlined, unified information flow,” said Peter Tague, Managing Partner of USIT. “Altana’s supply chain intelligence software provides this collective information, empowering companies and governments to understand the vulnerabilities and opportunities within their supply chains, while still maintaining strict customer data privacy. We look forward to supporting Altana’s team as they grow these critical tools that will make global business more resilient, secure, and sustainable.”
About Altana
Altana is the world’s first Value Chain Management System, a collaborative, public-private network that enables customers to take command of their extended supplier and distribution networks – from raw material origins to the sale of finished products. By applying artificial intelligence to the world’s largest body of supply chain data, Altana reveals these previously opaque global networks and powers workflows across them. Customers like Boston Scientific, L.L.Bean, Maersk, US Customs and Border Protection, and the UK Department of Business and Trade use Altana to build secure, resilient, efficient, and sustainable global value chains. To learn more, visit: https://altana.ai/.
This press release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
