Supply chain visibility startup Altana has secured $200 million in a robust series C funding round to expand its AI-powered platform and accelerate product development. The New York-based company offers a "value chain management system" that provides businesses with AI-driven insights into their supply chains.
The funding round was led by the US Innovative Technology Fund (USIT), founded by former Legendary Entertainment CEO turned tech investor Thomas Tull. Other notable investors included Salesforce Ventures, Google Ventures, March Capital, Omers Ventures, Friends and Family Capital, and Activate Capital. This latest round brings Altana’s valuation to $1 billion.
Altana plans to use the funds for an ambitious phase of product development, aiming to help customers manage security, sustainability, and procurement across multi-tier value chains. Evan Smith, Altana’s co-founder and CEO, emphasized the importance of a new model for managing global business amidst challenges like great power competition, climate change, and the breakdown of globalization. "Our platform is uniquely suited to facilitate a new paradigm – organized around trusted global value chains," Smith stated.
Founded in 2019, Altana addresses visibility issues in fragmented supply networks by providing a unified representation of global value chains. Its AI-powered platform integrates public and private supply chain data to offer detailed insights, including accurate carbon measurements, supply and demand issues, and critical business areas requiring risk management.
The startup previously raised $100 million in a series B round in 2022. Among its private sector customers are Boston Scientific, L.L.Bean, and Maersk. Altana also collaborates with government agencies, including U.S. Customs and Border Protection and the U.K.’s Department of Business and Trade.
Peter Tague, USIT’s managing partner, highlighted the importance of maintaining streamlined, unified information flow in the new era of globalization. "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 maintaining strict customer data privacy," Tague said.
Altana’s CEO Smith expressed optimism about the future, noting that the investor group is well-suited to accelerate the company’s go-to-market efforts with both governments and enterprises globally. "We couldn’t have better partners joining this mission," he added.
