Swedish startup Kodiak Hub, a supplier relationship management (SRM) platform, has secured €6 million in funding from Oxx, a leading B2B SaaS investment firm. The investment will fuel Kodiak Hub’s global expansion, including entry into the US market, and advance its AI-driven data analytics tools.
Kodiak Hub’s cloud-based platform addresses resource, operational, and regulatory challenges by providing procurement teams with a comprehensive view of supplier performance, risk management, and compliance. The platform enables companies to transform complex data into actionable insights, facilitating faster and more efficient decision-making.
Malin Schmidt, Kodiak Hub Founder and CEO said, “At Kodiak Hub, we are transforming how strategic buyers make decisions within the world’s most complex and high-performing supply chains. Our holistic, data-driven platform empowers customers to optimise top-line growth and long-term value, prioritising key drivers such as quality, price, and sustainability. Our robust data sourcing and continuous intelligence-building set us apart, enabling our customers to make smarter decisions that unlock greater value across their supply networks by reducing the costs of demand sensing and decision-making.”
The platform is used by over 80 procurement leaders across industries such as manufacturing, helping them build resilient, regionalised supply chains. Its analytics and focus on sustainability have earned it recognition in the ProcureTech 100 and Spend Matters’ “50 Providers to Watch.”
Kodiak Hub generates more than 75% of its revenue from international markets, particularly Germany and the UK. The company now aims to expand into the US, supported by Oxx’s investment, and plans to grow its commercial and data teams.
Ingrid Bonde Åkerlind, Principal, at Oxx says, “As companies face increased pressure to meet regulatory and sustainability requirements, Kodiak Hub’s sophisticated analytics and AI-driven insights are uniquely positioned to enable procurement leaders to take a proactive approach in managing supplier quality, risk, and compliance. At Oxx, we seek out companies with the potential to lead new categories, and Kodiak Hub is a shining example of that ambition. Malin and her team have crafted a ‘data cockpit’ for strategic procurement leaders, essential in today’s landscape, and we are thrilled to partner with them on their journey to redefine Supplier Relationship Management.“
Read the orginal article: https://www.eu-startups.com/2024/11/stockholm-based-kodiak-hub-raises-e6-million-to-advance-procurement-data-utilisation/
