SAN FRANCISCO--(BUSINESS WIRE)--Tradeshift, the leader in supply chain payments and marketplaces, today announced results from the third quarter of 2018, marking the tenth quarter in a row of successive growth and beating targets.
Tradeshift’s third quarter growth stats announced today include:
- YoY revenue grew 400 percent (trailing 12 months)
- YoY new bookings grew 284 percent
- YoY gross merchandise volume (GMV) grew 262 percent
- New total contract value grew by $47M in Q3
Tradeshift’s customer roster continued strong growth this quarter adding 27 new customers, including Hertz, Shiseido, ECU, and Fortune 500 leaders in retail apparel, agriculture, engineering and construction, hospitality, travel and food delivery.
Tradeshift also expanded its app ecosystem by adding a key partnership with Coface, a global credit insurer. Coface has announced a new app solution on the Tradeshift platform offering risk and business information services to help businesses make decisions by ensuring greater financial transparency between buyers and suppliers.
“We see accelerating growth in terms of total revenue, number of customers, our partner community, and our capabilities,” said Christian Lanng, CEO and co-founder of Tradeshift. “We added $47 million in total contract value in Q3. That’s up sequentially from about $35 million in Q2. We’re very excited about the increasing momentum of Tradeshift.”
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com.