Knowde recently announced the company has closed a $60 million Series C funding round led by Blue Cloud Ventures, Point72 Private Investments, and Socium Ventures. Existing investors, including Sequoia Capital, also participated. Knowde has raised $175 million to date.

"It is rare to partner with a founder and team driving innovation in a massive, underserved industry," said Blue Cloud Ventures founder and managing partner Rami Rahal. "The future of the chemical and ingredient industry is in software, powered by Knowde."

Knowde’s Master Data Management (MDM) Platform and AI technology digitize processes to transform the way chemical suppliers and distributors do business online.

"The chemical and ingredient industry has the potential to immensely benefit from digitization, " said Dan Gwak, managing partner at Point72 Private Investments. “We believe Knowde has built technology and capabilities that are well positioned to tackle the challenges of organizing this industry and we are excited to support them on their journey.”

Knowde’s MDM Platform automates data organization and enrichment for its customers. Once the data is organized, it can feed a suite of Knowde purpose-built applications to modernize commerce.

Knowde reports that the funds from this round will accelerate the company’s mission to organize the world of chemistry. Knowde will continue to build new features for the MDM Platform and new vertical applications.

"The chemical industry is the root of all innovation. Every physical product is created from chemistry. By accelerating digitization, we can impact all downstream industries," said Ali Amin-Javaheri, founder and CEO of Knowde.

Learn more about Knowde at www.knowde.com.