Waybridge plans to use the funding to expand beyond non-ferrous metals. Here are the top-line bullets you need to know.
Waybridge, a raw materials supply chain optimizing platform, has raised $30M in a Series B that drew participation from Rucker Park Capital, Craft Ventures, and Venrock.
How’s the company performing?
- New York-based Waybridge makes a digitally enhanced supply chain platform that helps companies buy and sell physical commodities. It allows customers to track shipments in real time and automate manual processes.
- The company has 30 employees and caters to major metal companies across North America and beyond.
Source: Waybridge
Why does the market matter?
- The supply chain management market is projected to grow at a CAGR of 2% and reach a value of $37.41B by 2027, according to Valuates Reports.
- While the physical commodities market is a $4T industry, the supply chain process is rudimentary. Additionally, climate change, the Suez Canal-Evergiven incident, and Covid-19 disruptions have all led to increased opportunities for growth and innovation in the sector.
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