Altana, a Brooklyn, New York-based supply chain management startup, has raised $200 million in Series C funding at a $1 billion valuation.
Investors
The round was led by Thomas Tull’s US Innovative Technology Fund (USIT), with participation from March Capital, Generation Investment Management, Salesforce Ventures, Friends and Family Capital, and key existing investors including GV (Google Ventures), Activate Capital, Floating Point, and OMERS Ventures.
US Innovative Technology (“USIT”) is an investment firm that supports early- and growth-stage technology companies with dual-use applications for the commercial sector and defense industry, including defense tech, artificial intelligence, logistics, space, tech bio, and the future of computing.
Altana Use of Funds
The funding will support an ambitious phase of product development, focusing on AI-driven, collaborative workflows that enhance security, procurement, compliance, and sustainability across multi-tier value chains.
About Altana
Founded in 2019 by Evan Smith, Peter Swartz, and Raphael Tehranian, Altana provides a value chain management system that uses artificial intelligence to map and optimize global supply and distribution networks. It helps businesses understand and manage their entire value chain, from raw materials to finished products, improving security, efficiency, and sustainability. Its platform is used by major organizations such as Boston Scientific, L.L.Bean, Maersk, US Customs and Border Protection, and the UK Department of Business and Trade.
Funding Details
Company: Altana Technologies, Inc.
Raised: $200.0M
Round: Series C
Funding Month: July 2024
Lead Investors: Thomas Tull’s US Innovative Technology Fund
Additional Investors: March Capital, Generation Investment Management, Salesforce Ventures, Friends and Family Capital, GV, Activate Capital, Floating Point, OMERS Ventures
Company website: https://altana.ai/
Software Category: Supply Chain Management
Source: https://www.businesswire.com/news/home/20240729884964/en