Key Markets Driving Growth in B2B E-Commerce

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - B2B E-Commerce - May 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on May 20, 2019.
B2B E-Commerce Feed Summary
4
B2B E-Commerce > Feed Summary
B2B E-Commerce covers companies that enable businesses to buy goods and services from other businesses.
• Inclusions: Includes companies that operate as
marketplaces, listing platforms, e-distributors or any
other platforms that connect businesses for the
exchange of goods and services. Also, includes
companies that facilitate B2B E-Commerce by
providing technology or software solutions.
• Exclusions: Does not cover companies that provide
software solutions for SCM, business processes,
manufacturers, healthcare companies, and offline
players.
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$6.1B
Funding
41
Mega
Companies
6242301
FundedCovered on
Tracxn
4
Unicorns
24
Soonicorns
54
Minicorns
28
IPO’d Cos
194
Late Stage Cos
49
133
Acquisitions
369
DeadPooled
-
Acquihired
Series A+ Cos
Digi-Key Electronics
(1972, Thief River Falls)
Ritchie Bros.
Auctioneers
(1958, Valley Falls)
Tilray
(2013, Nanaimo, $50.4M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in B2B E-Commerce
5
$557M - Series F
AUTO1 (2012, Berlin, $1.1B)
$100M - Series D
Globality (2015, Menlo Park, $172M)
$225M - Series C
Udaan (2016, Bangalore, $299M)
$100M - Series B
Just Buy Live (2015, Mumbai, $126M)
$150M - Series D
ezCater (2007, Boston, $320M)
$93M - Series D
ACV Auctions (2014, Buffalo, $138M)
$110M - Series B
aikucun.com ($213M)
$89.4M - Series C
Ninjacart (2015, Bangalore, $138M)
$100M - Series D
$87.6M - Series B
aikucun.com ($213M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
B2B E-Commerce > Feed Summary > Investment Trend Summary
Seed FJ Labs (#4), Right Side Capital Management (#3), Accel (#2)
Series A/B Accel (#5), Entrepreneur Venture (#3), Kalaari Capital (#3)
Series C+ DST Global (#2), 3i Group (#1), Bain Capital Ventures (#1)
Incubators 500 Startups (#10), Y Combinator (#9), Plug and Play Tech Center
(#8)
Other Notable
Investors
IFC (#4), SoftBank Group (#3), Info Edge (#3)
Debt Investors InnoVen Capital (#4), Idinvest Partners (#2), Trifecta Capital (#2)
Most Active InvestorsRecent Investments
236
431
319
87
39
11
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 71 122 114 77 106 32
$2.2B
$1.8B
$947M
$429M
$249M
US
Europe
India
Japan
Canada
$ Funding
$686M
$341M $406M $421M
$964M
$1.8B
$1.6B
77
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in B2B E-Commerce
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Lightspeed Venture
Partners
2
DST Global 2
Norwest Equity
Partners
2
Neff Rental (1989, Miami)
Imperial Supplies (1958, Green Bay)
SoftBank Group 2
ASKUL (1963, Minato, $408M)
Al Gore 1 Globality (2015, Menlo Park, $172M)
Sep 2018 BlueLine Rental Acq by United Rentals for $2.1B
May 2018 KLX Aerospace Solutions Acq by Boeing for $4.2B
Oct 2017 Neff Rental Acq by United Rentals for $1.3B
Jul 2014 OfficeTeam Acq by The Better Capital for $136M
Jul 2012 BrightPoint Acq by Ingram Micro for $840M
Mar 2000 Quill Acq by Staples for $685M
May 1998 Viking Acq by Office Depot for $3B
B2B E-Commerce > Feed Summary > Exit Outlook Summary
Arrow
Electronics
2 Verical (Apr 2010), Chip One Stop (Aug 2011)
Capvis 2 WER LIEFERT WAS (Jan 2017), Europages (Jan 2017)
Dun &
Bradstreet
2 NetProspex (Jan 2015, $125M), Hoover's (Dec 2002, $119M)
Verdane Capital 2 SwedOffice (May 2010), Kyto (Apr 2018)
Office Depot 1 Viking (May 1998, $3B)
Recent IPOs Top Acquisitions
SPS Commerce Apr 2010
Cloud-based software for omni channel ret…
IPO MCap: $131M
MonotaRO Dec 2006
E-commerce company of industrial supplies…
IPO MCap: -
CloudBuy Dec 2005
Online marketplaces and private purchasin…
IPO MCap: -
Venzee Feb 2005
Cloud-based PIM tool for brands and e-tai…
IPO MCap: -
EC21 Inc Oct 2018
Listing Plarform with Basic and Premium M…
IPO MCap: $88.4M
Tilray Aug 2018
Produces and supplies processed cannabis…
IPO MCap: $1.3B
MOONBAT Jul 2013
E-distributor of fashion products
IPO MCap: -
HD Supply Holdings Jun 2013
Industrial products distributor
IPO MCap: $3.3B

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
FACTSHEET
Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.
Feed Report - B2B E-Commerce - May 2019
Overview
Companies 2301
Funded 624 Series A+ 194
Funding $6.1B Last 2 yrs $2.7B
Most Active Investors
Seed FJ Labs (4)
Series A/B Accel (5)
Series C+ DST Global (2)
Others IFC (4)
Incubators 500 Startups (10)
Top Cities
Berlin 13 Cos $1.1B
Bay Area 78 Cos $569M
Feed in Numbers
Unicorns 4 Soonicorns 24
Minicorns 54 Editor Picks 149
Acquihired - Deadpooled 369
Top Companies
Tilray (2013, Nanaimo, $50.4M)
Digi-Key Electronics (1972, Thief River Falls)
Ritchie Bros.
Auctioneers
Exits
IPOs 28 HD Supply Holdings, Tilray
Acquisitions 133 KLX Aerospace Solutions,
Viking
Top Acquirers Arrow Electronics, Capvis
Marketmap: B2B E-Commerce
TECH ENABLERS
E-DISTRIBUTORS
MULTI-CATEGORY
GROCERIES
FOOD & BEVERAGES
HOME CONSTRUCTION
& IMPROVEMENT
SERVICES
CONSUMER ELECTRONICS
IT EQUIPMENT
OFFICE SUPPLIES
MARKETPLACES
MULTI-CATEGORY
INDUSTRIAL GOODS
AUTOMOTIVE
SERVICES
FOOD & BEVERAGES
GROCERIES
BEVERAGES
FASHION
DROPSHIPPING
ANALYTICS
SHOPPING CART
SUPPLY CHAIN MGMT
B2B
B2B E-Commerce > Feed Summary > BlueBox
7

Key Sub Sectors in B2B E-Commerce Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Horizontal >
Marketplace 136 $535M 17
Food & Beverages > Groceries > Farm
Products >
Marketplace
66 $142M 10
Technology Enablers > Shopping Cart >
Proprietary 50 $79.7M 7
Fashion > Finished Product >
Marketplace 53 $55.8M 10
Food & Beverages > Groceries > Processed
Products >
Marketplace
23 $46M 10
Industrial Goods > Heavy Machinery >
Rental 40 $58.7M 7
Technology Enablers >
Analytics 23 $68.3M 5
Office Supplies >
E-Distributor 162 $39.5M 9
Industrial Goods > MRO and Industrial
Tools >
Marketplace
60 $47.3M 5
Services > Manufacturing >
Marketplace 13 $20.5M 9
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Automobile
Businesses dealing with wholesale transactions in the
automobile value chain
28 11 $1.2B
Horizontal
Companies dealing in products belonging to multiple
categories
444 104 $1.1B
Technology Enablers
Companies providing software or technology solutions
for B2B businesses
253 127 $950M
Services
Platforms for B2B service needs like manufacturing,
and printing
177 51 $766M
Industrial Goods
Companies dealing in industrial goods, supplies,
equipment and tools
454 92 $633M
Office Supplies
Companies helping offices to procure products like
stationaries, furniture, printers,...
175 49 $564M
Food & Beverages
Companies involved in trading of products related to
food and beverage sector
161 64 $270M
B2B E-Commerce > Feed Summary > Summary of Key Markets

List of Notable Companies in B2B E-Commerce
Notable Companies in the Sector (1/2)
9
Note: *(Founded Year, Location, Total Funding)
B2B E-Commerce > Feed Summary > Notable Companies in the Sector
Public
HD Supply Holdings
(2007, Atlanta)*
Tilray
(2013, Nanaimo, $50.4M)
BlueLinx Corporation
(2004, Atlanta)
Ritchie Bros.
Auctioneers
SPS Commerce
(1998, Minneapolis, $71M)
EC21 Inc
(2000, Seoul)
ASKUL
(1963, Minato, $408M)
Noble Iron
(2010, Houston, $2.4M)
Expansys
(1997, Montpellier-de-medillan)
HPI
(1982, Brooklyn)
Public
MOONBAT
(1941, Kyoto)
Siam Global House
Public Company
(2007, Roi Et)
ALSO Holding AG
(1984, Emmenbrucke)
B2BManufactures.com
(1995, Taichung)
CloudBuy
(1999, Reading)
Distrelec
(1973, Nanikon)
ECPlaza
(1996, Seoul)
Enlightcorp.com
(1996, Taipei)
Grainger
(1927, Savannah)
OfficeMate
(2012, Bangkok)
Acquired
KLX Aerospace
Solutions
(1974, Miami)
Viking
(1960, Leicester)
BlueLine Rental
(2001, Shippensburg)
Neff Rental
(1989, Miami)
BrightPoint
(1989, Indianapolis)
Quill
(1956, Chicago)
OfficeTeam
(1888, Croydon)
NetProspex
(2006, Waltham, $27.5M)
Hoover's
(1990, Austin)
Contorion
(2014, Berlin)
Acquired
CarsOnTheWeb
(2004, Tienen, $2.3M)
Unicorns
AUTO1
(2012, Berlin, $1.1B)
ezCater
(2007, Boston, $320M)
Udaan
(2016, Bangalore, $299M)
Globality
(2015, Menlo Park, $172M)

List of Notable Companies in B2B E-Commerce
Notable Companies in the Sector (2/2)
10
B2B E-Commerce > Feed Summary > Notable Companies in the Sector
Deadpooled
Commerce One (1994,
Walnut Creek)

List of Notable Companies by Market in B2B E-Commerce
Notable Companies by Market (1/10)
12
B2B E-Commerce > Feed Summary > Notable Companies by Market
Horizontal
Marketplace
Online horizontal B2B marketplace
Unicorn. Stage: Series C
DST Global, Lightspeed Venture Partners
FedBid (1999, Vienna, $2M)
Auction Listing Platform for Governments and
businesses
Soonicorn. Stage: Acquired
Revolution, Blue Water Capital, Signatures Capital
Commerce One (1994, Walnut Creek)
B2B E-commerce and Supplier Relationship
Mangenment Solution
Stage: Deadpooled
Western Technology Investment, Focus Ventures,
Davidson Capital and 6 Other Investors
Listing Platform
Manta (2005, Columbus, $49.2M)
Online listing platform for small businesses
Soonicorn. Stage: Series C
Norwest Venture Partners, Reservoir Venture
Partners, Athenian Venture Partners
IndiaMART (1996, Noida, $35.3M)
Online B2B listing platform
Amadeus Capital, Quona Capital, WestBridge
Capital Partners and 3 Other Investors
B2BManufactures.com (1995, Taichung)
B2B Listing Platform
Stage: Public
EC21 Inc (2000, Seoul)
Listing Plarform with Basic and Premium
Membership
Stage: Public
Listing Platform
ECPlaza (1996, Seoul)
Global B2B Marketplace
Stage: Public
Star Han Capital, My Venture Partners
Enlightcorp.com (1996, Taipei)
Stage: Public
European DIRECTORIES (2004, Amsterdam)
Stage: Acquired
Triton
Hoover's (1990, Austin)
Business listing portal
Stage: Acquired
Lewis & Clark Capital, FTL Capital, Tsing Ventures

13
Horizontal
E-Distributor
Mercateo (1999, Munich, $1.4M)
E-distributor for needs of small and medium
businesses
Soonicorn. Stage: Seed
BIP Investment Partners, BayBG, Target Partners
Siam Global House Public Company (2007,
Roi Et)
E-distributor of multi-category products
Stage: Public
E-distribution platform connecting brands with
retailers
Soonicorn. Stage: Deadpooled
Ali Cloud Investment, Dalal, Ashish Haresh Jagtiani
and 73 Other Investors
Food & Beverages
Groceries
Mobile app to connect farmers with retailer
Tiger Global Management, Accel, Syngenta Ventures
Fashion
Finished Product
MOONBAT (1941, Kyoto)
Stage: Public

14
Consumer Electronics
E-Distributor
Utinet (2004, Moscow)
E-distributor of electronic products
Soonicorn. Stage: Funded
Astor Capital
Expansys (1997, Montpellier-de-medillan)
Online retailer of technology products
Editor's Pick. Stage: Public
BrightPoint (1989, Indianapolis)
Online B2B platform for wireless devices and other
services
Stage: Acquired
HPI (1982, Brooklyn)
E-distributor of consumer electronic products
Stage: Public
Home Construction & Improvement
Building Supplies
BuildDirect (1999, Vancouver, $135M)
Online distributor and marketplace for home
improvement products
Soonicorn. Stage: Series D
Mohr Davidow Ventures, Fidelity, Lyra Growth
Partners and 11 Other Investors
BlueLinx Corporation (2004, Atlanta)
Distributor of building products
Stage: Public
Cerberus Capital Management, Prospect Street
Ventures
Office Supplies
E-Distributor
ASKUL (1963, Minato, $408M)
Office supplies distributor
Stage: Public
Yahoo Japan, SoftBank Group
Poppin (2009, New York City, $75.5M)
Private label brand of office supplies
Soonicorn. Stage: Series E
Burch Creative Capital, Fifth Third Bancorp, West
Capital Advisors and 4 Other Investors
OfficeMate (2012, Bangkok)
Distributor of office essentials
Stage: Public
OfficeTeam (1888, Croydon)
Business services and supplies company
Stage: Acquired
Constant Equity
Quill (1956, Chicago)
Essential products for businesses
Stage: Acquired

15
Office Supplies
E-Distributor
Viking (1960, Leicester)
Supplier of Office Products
Stage: Acquired
IT Equipment
Marketplace
ALSO Holding AG (1984, Emmenbrucke)
B2B Marketplace for IT Products
Stage: Public
E-Distributor
Dustin (1984, Stockholm)
Supplier of IT and related products
Stage: Acquired
Altor Equity Partners

16
Automobile
Vehicles
An online B2B dealer of used cars
Unicorn. Stage: Series F
SoftBank Group, Target Global, Baillie Gifford and
15 Other Investors
A B2B marketplace for car dealers
Soonicorn. Stage: Series D
Bain Capital Ventures, Bessemer Venture Partners,
Future Fund and 6 Other Investors
CarsOnTheWeb (2004, Tienen, $2.3M)
Online used car auction services provider
Stage: Acquired
Industrial Goods
Supplies
Power2SME (2011, Gurgaon, $80.7M)
Buying Club for SMEs
Soonicorn. Stage: Series E
InnoVen Capital, Inventus Capital Partners, Accel
Heavy Machinery
Cotton Way (2010, Moscow, $109M)
Rental of textile, laundry and dry cleanings
Soonicorn. Stage: Funded
Russian Direct Investment Fund, EBRD
EquipmentShare (2014, Columbia, $71.1M)
Peer to peer equipment rental
Soonicorn. Stage: Series B
Insight Venture Partners, Romulus Capital, Y
Combinator and 9 Other Investors
Noble Iron (2010, Houston, $2.4M)
Construction and industrial equipment rental and
distribution, and enterprise asset management
software
Stage: Public
Zynik Capital
Construction equipment rental company
Norwest Equity Partners

17
Industrial Goods
Heavy Machinery
Ritchie Bros. Auctioneers (1958, Valley Falls)
Auction platform for heavy industrial equipments
Soonicorn. Stage: Public
Vulcan Capital
BlueLine Rental (2001, Shippensburg)
Equipment Rental Company
Stage: Acquired
KLX Aerospace Solutions (1974, Miami)
Supplier of Aerospace parts
Stage: Acquired
MRO and Industrial Tools
Contorion (2014, Berlin)
B2B online Marketplace for Industrial Tools and
Supplies
Stage: Acquired
Endeit Capital, Kloeckner Ventures, Project A and 3
Other Investors
Grainger (1927, Savannah)
Supplier of MRO products
Stage: Public
JANA Partners
HD Supply Holdings (2007, Atlanta)
Stage: Public
Clayton Dubilier & Rice, VantEdge Partners
Imperial Supplies (1958, Green Bay)
B2B Supplier of Maintenance Tools and Supplies.
Stage: Acquired
Hillstar Capital, Norwest Equity Partners
MRO and Industrial Tools
MonotaRO (2000, Amagasaki)
E-commerce company of industrial supplies
Stage: Acquired
DBJ Capital

18
Industrial Goods
Components
Distrelec (1973, Nanikon)
Online Distributor of electronic and technical
products
Stage: Public
Agriculture
E-Distributor
Produces and supplies processed cannabis products
for medical purposes
Editor's Pick. Stage: Public
Services
Horizontal
Marketplace for B2B Services
Unicorn. Stage: Series D
SoftBank Vision Fund, Raine Group

19
Services
Catering
Online Caterers Marketplace and Concierge service
for enterprises
Lightspeed Venture Partners, GIC, Iconiq Capital
Eat Club (2010, Palo Alto, $46.5M)
Restaurants delivery to office
Sodexo, August Capital, Trinity Ventures and 8
Other Investors
ZeroCater (2009, San Francisco, $17.6M)
Food Catering for Office
Cleveland Avenue, Romulus Capital, Struck Capital
Technology Enablers
Shopping Cart
Mirakl (2012, Paris, $100M)
Provider of shopping cart solutions
Bain Capital, 83North, Felix Capital and 3 Other
Investors
iMediation (1998, Paris, $88.5M)
B2B e-commerce platform provider
GIC, Apax Partners, DB eVentures and 7 Other
Investors
Venda (2001, London, $26M)
e-commerce Platform Provider
Investor, GF Private Equity, Investor Growth Capital
Backend
SPS Commerce (1998, Minneapolis, $71M)
Cloud-based software for omni channel retail
supply chain management
Stage: Public
CID Capital, Adams Street Partners, River Cities
Capital Funds and 5 Other Investors
Lettuce (2011, Los Angeles, $2.1M)
Inventory and Order Management System
500 Startups, Baroda Ventures, Zelkova Ventures

20
Technology Enablers
Tools
Alkemics (2011, Paris, $27.8M)
PIM for interaction between FMCG brands and
retailers
Index Ventures, Groupe SEB, Partech and 2 Other
Investors
Venzee (2014, Vancouver)
Cloud-based PIM tool for brands and e-tailers
Editor's Pick. Stage: Acquired
Bodley Group, 500 Startups, Angel Ventures and 1
Other Investors
Analytics
6sense (2013, San Francisco, $63M)
B2B predictive intelligence engine for sales and
marketing.
Bain Capital Ventures, Battery Ventures, Costanoa
Venture and 6 Other Investors
Terapeak (2002, Victoria, $5M)
Analytics solution for sellers on e-commerce
platforms
Georgian Partners
Marketing
NetProspex (2006, Waltham, $27.5M)
B2B data lead generation data and data
management
Stage: Acquired
Spring Lake Equity Partners, Edison Partners,
American City Business Journals and 1 Other
Investors

21
Technology Enablers
Suite
CloudBuy (1999, Reading)
Online marketplaces and private purchasing portals
Stage: Public

List of Notable Companies in B2B E-Commerce in China
Notable Companies in the Sector in China
22
B2B E-Commerce > Feed Summary > Notable Companies in the Sector in China
Public
China.cn
(2006, Beijing, $22M)
Myplas
(2007, Shanghai, $10.5M)
Alibaba.com
(1999, Hangzhou)
HC Network
(1992, Beijing)
Cogobuy
(2000, Shenzhen)
Giuseppe Garment
(1995, Wenzhou)
China Aluminium
Network
(2002, Hangzhou)
Global Market
(1997, Guangzhou)
Unicorns
Meicai
(2014, Beijing, $1.3B)
Yi jiu pi
(2014, Beijing, $475M)
Zhaogang
(2012, Beijing, $394M)
Huimin
(2012, Beijing, $295M)
Cheyipai
(2006, Beijing, $230M)

Recent News in B2B E-Commerce Sector
Recent News
23
B2B E-Commerce > Feed Summary > Recent News
May 2019 Lichuang Mall and RUNIC reached a depth of cooperation, run-ic.com
May 2019
Alibaba Shows Further Commitment In Carving Out A Piece Of The
EMEA Cloud Action, Data Economy
May 2019
Solopress boosts capacity with Agfa, HP and Kongsberg multi-buy,
PrintWeek
May 2019 Alibaba faces consumer complaints in Europe, The Business Times
May 2019
Consumer bodies seek to force Alibaba portal to honor EU shoppers'
rights, Reuters
May 2019 Alibaba buys a stake in STO Express, Transport Intelligence (Ti)
May 2019
AI Buyer-Seller Matching and Global Blockchain Trading Power the
New Partnership of Sourcing Industry Group (SIG) & TraDove Social
Business Network, PRWeb
May 2019
Alibaba 2018 results boosted by Cainiao consolidation, Transport
Intelligence (Ti)
May 2019 Grainger Looking To Build On “Strong” Start, Insider Media
May 2019
MilesTek Introduces RoHS and REACH Compliant M17/176-00002,
High-Temp MIL-STD-1553B Cables, PR Newswire
May 2019
6sense Recognized as One of Inc. Magazine’s 2019 Best Workplaces,
Business Wire
May 2019
Webedia Group acquires Quill from Panoramic Growth Equity,
Private Equity Wire
May 2019
Chinese billionaire Jack Ma: ‘I worry about Europe’ and its
obsession with tech regulation, CNBC
Key Recent News Key Recent News
May 2019 Alibaba ‘on the right side of trade war’ says Tsai, InsideRetail
May 2019
Alibaba returns to growth with revenue up 51% to $13.9 billion,
TechCrunch
May 2019
Alibaba hones in on home goods sector with USD 633 million
investment, KrASIA
May 2019 Internet giants post strong growth, SHINE
May 2019
Samsung Electro-Mechanics Honors Digi-Key with 2018
Distribution Partnership Award, PR Newswire
May 2019 Altaba to start selling Alibaba ADSs on May 20, Seeking Alpha
May 2019
B-Stock Supply buyer base is growing 30% each month as demand
for secondary market merchandise increases across Europe,
RealWire
May 2019
Parts Town Acquires Inventory Management Software 3Plenish,
Business Wire
May 2019
Amazon extends lead as top retail brand in Kantar/WPP survey,
Indiatimes
May 2019
Alibaba is the world’s most valuable non-US retail brand, Business
Chief
May 2019
Tilray, Inc. Reports First Quarter 2019 Financial Results, Business
Wire
May 2019
Abracon Recognizes Digi-Key with 2018 Largest Sales Growth and
Largest Annual Sales Award, PR Newswire
May 2019 Venzee Mesh API Connects with Amazon, CNW

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
24
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in B2B E-Commerce; 2012-2019
Global Funding Trends (1/2)
26
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
B2B E-Commerce > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 5% # of Rounds22% $ Funding
13% # of Rounds
64% $ Funding
$686M
$538M
$110M
$341M
$406M $421M
$964M
$1.8B
$1.6B
0
20
40
60
80
100
120
140
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
$1.8B
$2.B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

28 51 48 75 58 40 41 13
19
10
13 41
49
26
55
11
3
2
10 6 7 11 10 8
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
50
32
Total # of Rounds
$19M
$19M
$18M $39M $28M $30M $34M $5M
$67M
$76M
$113M
$227M
$295M
$247M
$722M $113M
$452M $15M $210M $140M $98M $687M $1.0B $567M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
$538M
$686M
Total $ Invested
27
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in B2B E-Commerce; 2012-2019
B2B E-Commerce > Investment Trends > Global Funding Trends
72
38
71
51
34
36
6
308
$0.9M
$1.6M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
0
50
100
150
200
250
300
350
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$0.9M $0.5M $1.5M $1.2M $1.2M $4.9M $0.9M $1.6M
$598M
$452M
$203M
$213M
$199M
$789M
$1.5B $1.4B
22
0
5
10
15
20
25
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
1.6E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
2 - 4 6 7 8 17 9

B2B E-Commerce > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in B2B E-Commerce
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Berlin 1.1B 20
Bay Area 569M 88
Bangalore 478M 39
Minato 408M 1
Boston 326M 10
Delhi NCR 247M 55
New York City 245M 42
Paris 222M 15
Vancouver 162M 10
Mumbai 153M 20
Total Funding
347
160
153
6
33
30
11
7
# Rounds
$2.2B
$1.8B
$947M
$429M
$249M
$45.1M
$42.5M
$23.6M
US
Europe
India
Japan
Canada
SEA
Australia
Kenya
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$1.1
$0.5 $0.6 $0.8 $0.7
$1.1 $1.0
2012 2013 2014 2015 2016 2017 2018
B2B E-Commerce > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in B2B E-Commerce; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10.2K* $10M
$171K $50.4M
$138K $110M
$149K $557M
$27.5M
$10M
$4.1M
$435K
Series C+
Series B
Series A
Seed
Stage
$3.5
$10.4 $9.4
$13.0 $14.7
$21.2
$25.7
$226.0
$7.6 $30.0 $35.0 $19.6
$76.4
$113.9
$4.0 $4.5
$8.2
$5.7 $4.8 $3.8
$6.3

Note: 412 companies with undisclosed funding amount are not included
30
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
100
122
56
11
14
No. of Companies
B2B E-Commerce > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in B2B E-Commerce; as of May 2019
Distribution of companies by Funding Range
$29M
$471M
$1.4B
$716M
$3.5B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
27%
8%
4%
2%
31
Note: Numbers in the brackets show the count of companies
Time to raise
next round
49
100
194
624
2301
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
27% 3%
(61)
2%
(48)
- 16%
(367)
57%
(1310)
31% 8%
(53)
6%
(37)
- 11%
(66)
58%
(364)
52% 16%
(32)
6%
(11)
- 6%
(11)
43%
(83)
49% 27%
(27)
8%
(8)
- 5%
(5)
46%
(46)
- 41%
(20)
10%
(5)
- 2%
(1)
29%
(14)
B2B E-Commerce > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in B2B E-Commerce
Funding Funnel
17 Months
18 Months
20 Months
Investment backedBootstrapped
24
4
92
23
41
5
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
B2B E-Commerce > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in B2B E-Commerce; May 2017-May 2019
Notable Investments in last 24 months (1/8)
LATE STAGE
$557M - Series F Jan 2018
An online B2B dealer of used cars
SoftBank Group
$225M - Series C Sep 2018
$150M - Series D Apr 2019
for enterprises
Lightspeed Venture Partners, GIC, Iconiq Capital,
Insight Venture Partners, Wellington Management,
Light Street Capital, Quadrille Capital
$100M - Series D Jun 2018
for enterprises
Wellington Management, Iconiq Capital, Insight
Venture Partners
LATE STAGE
$100M - Series D Jan 2019
SoftBank Vision Fund
$93M - Series D Jan 2019
Bain Capital Ventures, Bessemer Venture Partners,
Future Fund, Tribeca Venture Partners, Armory
Square Ventures
$89.4M - Series C Apr 2019
Tiger Global Management
$70M - Series C Feb 2019
Provider of shopping cart solutions
Bain Capital, 83North, Felix Capital, Elaia
LATE STAGE
$36M - Series E Sep 2017
Inventus Capital Partners, Accel, Kalaari Capital,
Nandan Nilekani, IFC
$35M - Series C Nov 2017
Raine Group
$29.3M - Series C Jul 2018
OfBusiness (2015, Gurgaon, $45.4M)
Financing and fulfilment network for SMEs
Creation Investments, Matrix Partners India, Zodius
Capital, Falcon Edge Capital
$28M - Series D Mar 2018
Online distributor and marketplace for home
improvement products
Mohr Davidow Ventures, Fidelity, Lyra Growth
Partners, Beedie Capital Partners

LATE STAGE
$27M - Series C Mar 2019
Agrostar (2010, Pune, $42.4M)
m-commerce for agri-inputs
Bertelsmann India Investments, Accel, Chiratae
Ventures, Aavishkaar
$24.5M - Series C Feb 2018
Bessemer Venture Partners, Tribeca Venture
Partners, SoftBank Group, Armory Square Ventures
$23M - Series D May 2018
InsightSquared (2010, Cambridge, $50M)
Sales and Marketing Analytics for SMBs
Tola Capital, Accomplice, DFJ, Two Sigma
Investments, NextView Ventures
$23M - Series C Dec 2018
Moglix (2015, Noida, $41M)
Online marketplace for industrial goods
Accel, IFC, Jungle Ventures, Venture Highway,
InnoVen Capital, Shailesh Rao
LATE STAGE
$21.7M - Series E Mar 2019
Private label brand of office supplies
$16M - Series C Feb 2019
Joor (2010, New York City, $36M)
B2B Marketplace for women's fashion
ITOCHU, Canaan Partners, Battery Ventures
$10M - Series E Sep 2017
IFC
EARLY STAGE
$110M - Series B Oct 2018
aikucun.com ($213M)
Online crowdsourcing distribution platform
GGV Capital, Sinovation Ventures
$100M - Series B Aug 2017
E-distribution platform connecting brands with
retailers
Ali Cloud Investment
$87.6M - Series B Jul 2018
aikucun.com ($213M)
Zhongding Venture Capital Management, Legend
Capital
$65M - Series B Jun 2018
B-Stock (2008, Belmont, $65M)
Online technology-based marketplace for excess
inventory management
Spectrum Equity

EARLY STAGE
$63.7M - Series B Feb 2018
Lightspeed Venture Partners
$50.4M - Series A Feb 2018
Produces and supplies processed cannabis products
for medical purposes
$35M - Series B Apr 2018
OrderMyGear (2007, Dallas, $35.6M)
Marketplace for group apparel
Susquehanna Growth Equity
$34.7M - Series B Dec 2018
Accel, Syngenta Ventures, Neoplux, HR Capital,
Mistletoe, Trifecta Capital, Qualcomm Ventures,
Nandan Nilekani, Jo Hirao
EARLY STAGE
$27M - Series B Apr 2019
6sense (2013, San Francisco, $63M)
B2B predictive intelligence engine for sales and
marketing.
Bain Capital Ventures, Battery Ventures, Costanoa
Venture, Venrock, Salesforce, Industry Ventures
$25.1M - Series B Aug 2018
$22.6M - Series B Jun 2017
INTURN (2013, New York City, $35.9M)
Marketplace to sell excess inventory
B Capital Group, Beanstalk Venture, Forerunner
Ventures, Lerer Hippeau Ventures, Coach
$22M - Series B May 2018
Bizongo (2014, Mumbai, $25.7M)
Online B2B marketplace for packaging supplies
B Capital Group, IFC, Accel, Chiratae Ventures, IDG
ventures
EARLY STAGE
$20.2M - Series B May 2019
360imprimir (2013, Lisbon, $28.1M)
Online printing service provider for businesses
LEADx, Omnes Capital, Pathena
$19M - Series B Dec 2018
Chewse (2011, San Francisco, $34M)
Online marketplace for corporate catering and
events
$15.5M - Series A Jan 2018
aikucun.com ($213M)
Zhongding Venture Capital Management
$12M - Series B Jul 2017
IFC, Rocketship, Accel, Jungle Ventures, Venture
Highway, Shailesh Rao

EARLY STAGE
$12M - Series B May 2018
Cleveland Avenue, Romulus Capital, Struck Capital,
Justin Kan
$10.6M - Series A Feb 2019
Dozr (2015, Waterloo, $16.5M)
Contractor to contractor equipment sharing
platform
FairVentures
$10.5M - Series A Apr 2018
Eporta (2014, London, $13.8M)
Members only marketplace for home decor &
furnishing
Canvas Ventures, LocalGlobe, Oxford Capital, Talis
Capital, Guy Hands, Edward Wray, Rohan Blacker,
Simon Kain, William Cooper, Samos Investments
$10M - Series B Sep 2018
EARLY STAGE
$10M - Series B Jul 2018
TradeGecko (2012, Singapore, $20M)
Cloud-based sales and inventory management
platform for e-tailers
Perle Ventures, 33 Capital, TNB Ventures, Aura
Group
$10M - Series A Jan 2019
FoodMaven (2015, Denver, $24.6M)
Online B2B food marketplace
Tao Capital Partners
$10M - Series A Mar 2019
Packhelp (2015, Warsaw, $12.7M)
Custom packaging solutions provider
White Star Capital, Apostolos Apostolakis, Market
One Capital, PROfounders Capital Partners,
Speedinvest
EARLY STAGE
$9.1M - Series B Jan 2019
Jumbotail (2015, Bangalore, $19.5M)
Online B2B platform for packaged food, fruits &
vegetables
Heron Rock, William R Jarvis, Cristina Berta Jones,
Kalaari Capital, Nexus Venture Partners
$9M - Series A Mar 2019
Zetwerk (2018, Bangalore, $10.2M)
Online B2B marketplace providing various
manufacturing facilities
Accel, Sequoia Capital, Kae Capital
$8.5M - Series A Jul 2017
Jumbotail (2015, Bangalore, $19.5M)
Online B2B platform for packaged food, fruits &
vegetables
Kalaari Capital, Nexus Venture Partners
$8.2M - Series A May 2019
Sorabito (2012, Tokyo, $15.6M)
Second-hand construction equipment marketplace
Sumitomo, ITOCHU Construction Machinery

EARLY STAGE
$8M - Series A Jul 2018
Bizzy (2015, Jakarta, $10.5M)
Marketplace for Office Supplies
Sinar Mas
$7.9M - Series A Apr 2018
BigRentz (2012, Irvine, $11.3M)
Heavy equipment rental marketplace
$7.3M - Series B Oct 2017
events
Foundry Group, Telegraph Hill Capital, Rocketship
$7M - Series B Sep 2018
Ralali.com (2013, Jakarta, $9.5M)
B2B e-commerce company selling tools
SBI Holdings, Digital Garage, AddVentures
EARLY STAGE
$5.3M - Series B Oct 2018
Industrybuying (2013, Delhi, $28.3M)
B2B marketplace for industrial tools
Arathi Krishna, Arun Venkatachalam, Muthu
Murugappan, Vellayan Subbiah, Beenext, SAIF
Partners, Kalaari Capital, DG Incubation, Beenos
$4.9M - Series A Jul 2018
Accel, Mistletoe, HR Capital Partners, Nandan
Nilekani, Rohini Nilekani
$4M - Series A Apr 2019
$3.2M - Series B Feb 2018
MakeTime (2014, Lexington, $15.1M)
Machining marketplace offering instant access to a
network of thousands of prequalified suppliers
EARLY STAGE
$2.7M - Series A May 2018
Sorabito (2012, Tokyo, $15.6M)
Second-hand construction equipment marketplace
Spiral Ventures
$2M - Series A Oct 2018
$1M - Series A Jan 2018
NumberMall (2012, Hyderabad, $11M)
E-distributor of FMCG products for kirana stores
SRI Capital, ValueLabs
$864k - Series A Feb 2018
Shotang (2013, Bangalore, $5.9M)
Online B2B marketplace for retailers to source
inventory
Patamar Capital, Exfinity Venture Partners
$138k - Series B Jan 2018
Trifecta Capital

EARLY STAGE
Series A Sep 2018
Marketplace for Office Supplies
Agaeti Venture Capital
Series A Feb 2018
Helloprint (2013, Rotterdam, $3.3M)
Online custom printing service
SEED STAGE
$8.6M - Angel Dec 2017
Jon Erik Borgen, Robert Finzi, Chris Scoggins, Rajesh
Atluru, Tom Ahlbor, Eric Roza
$3M - Seed May 2019
Printify (2015, Wilmington, $4M)
Online B2B marketplace for promotional goods &
services
Bling Capital
$2.3M - Seed Jun 2018
Packhelp (2015, Warsaw, $12.7M)
Custom packaging solutions provider
Speedinvest, PROfounders Capital Partners, Market
One Capital, Venture Friends
$2M - Seed Jun 2018
Aahaa Stores (2013, Chennai, $4.2M)
Online platform for ordering and keeping track of
office supplies and products
Calega
SEED STAGE
$1.2M - Seed Aug 2018
Zetwerk (2018, Bangalore, $10.2M)
Online B2B marketplace providing various
manufacturing facilities
Kae Capital, Sequoia Capital
$1M - Seed Sep 2017
Aahaa Stores (2013, Chennai, $4.2M)
Online platform for ordering and keeping track of
office supplies and products
YourNest, Suresh Shetty, Pranay Palepu
$1M - Angel May 2018
Printify (2015, Wilmington, $4M)
Online B2B marketplace for promotional goods &
services
Gokul Rajaram

SEED STAGE
$1M - Seed Jun 2017
MaxWholesale (2016, Delhi, $1.6M)
Online B2B grocery company
Maple Capital Advisors, LearnEdge, Abhishek Rathi,
Ambarish Raghuvanshi, Raman Roy, Rakesh
Malhotra, Sunil K. Munjal, Mohit Saraf, Arjun
Bhartia, Ankit Agarwal, Harshavardhan Chitale,
Ramnik S Uppal, Ajay Rajgarhia, Bikky Khosla,
Venkat Raju, V G N Prakash, Inder P. Singh, Raghav
Gupta, Amit Agarwal, Bhavna Bahl, Harjeet Kohli,
Ramnath Rao, Sandeep Soni, Salil Gupta, Sanjay
Rao, Saurabh Srivastava, Sharad Junghare,
Siddharath Bindra, Vivek Jain, Manish Kumar Modi,
Shambhu Kumar Poddar, Akhil Gambhir, Divyn
Singh, Devika Singh, Abhinav Grover, Indian Angel
Network, Shekhar Swarup, Prashan Agarwal,
Ridhish Talwar
SEED STAGE
$784k - Seed Aug 2017
Crofarm (2016, Delhi, $2.8M)
Digital supply chain of fruits and vegetables from
farm to business
Rajan Anandan, FactorEVentures, Citadel Ventures,
LetsVenture, Yukti, Dhruv Agarwala, Krishnan
Akhileswaran, Pradeep Sarin, Pankaj Rathi, Arjun
Chitoor, Abhishek Jain
$509k - Seed Jan 2019
farm to business
Ramit Sethi, Vinay Mittal, FactorEVentures, Pravega
Ventures, Gajendra Singh Chowhan, Arvind
Construction, Nisarg Shah, Yukti
SEED STAGE
$359k - Seed May 2018
MaxWholesale (2016, Delhi, $1.6M)
Online B2B grocery company
Abhishek Rathi, Rakesh Malhotra, Ambarish
Raghuvanshi, Sunil K. Munjal, Raman Roy,
Inderdeep Singh, Arjun Bhartia, V G N Prakash,
Ramnik S Uppal, Harshavardhan Chitale, Ajay
Rajgarhia, Amit Agarwal, Bhavna Bahl Talwar,
Harjeet Kohli, Bikky Khosla, Venkat Raju, Raghav
Gupta, Ankit Agarwal, Saurabh Srivastava, Salil
Gupta, Vivek Jain, Shambhu Kumar Poddar, Shekhar
Swarup, Ramnath Rao, Prashan Agarwal, Sandeep
Soni, Siddharath Bindra, Manish Kumar Modi, Divyn
Singh, Akhil Gambhir, Sanjay Rao, Sharad Junghare,
Devika Singh
Angel Mar 2019
Kalyan Krishnamurthy

SEED STAGE
Seed Jun 2017
Mercateo (1999, Munich, $1.4M)
E-distributor for needs of small and medium
businesses
BIP Investment Partners

B2B E-Commerce > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$716M - Series D Apr 2018
Huitongda (2008, Nanjing, $994M)
Online B2B platform targeting electronic retailers in
rural areas
Alibaba Group, Shunwei Capital, China Merchants
Bank, Govtor Capital
$600M - Series F Oct 2018
Meicai (2014, Beijing, $1.3B)
Agricultural product/fruit and vegetable B2B
mCommerce site
Hillhouse Capital Group, Tiger Global Management
$450M - Series E Jan 2018
Meicai (2014, Beijing, $1.3B)
Agricultural product/fruit and vegetable B2B
mCommerce site
Tiger Global Management, Genesis Capital
LATE STAGE
$200M - Series D Sep 2018
Yi jiu pi (2014, Beijing, $475M)
B2B e-commerce platform for wine and spirits
Meituan, Tencent, Everbright Holdings, Source Code
Capital
$150M - Series C Aug 2018
51Zhaoyou (2015, Shanghai, $204M)
Trading platform for petroleum and oil products
Rainbow Capital, GLP, GGV Capital, Oceanpine
Capital, Sky9 Capital, Yunqi Partners, SIG China,
DCM Ventures
$129M - Series C Aug 2018
Zkh360 (2014, Shanghai, $215M)
Online marketplace of MRO products
Shell, Legend Capital, Genesis Capital, Eastern Bell
Venture Capital, Matrix Partners China, Tiger Global
Management, Oriza Holdings
LATE STAGE
$100M - Series D Mar 2019
Yi jiu pi (2014, Beijing, $475M)
B2B e-commerce platform for wine and spirits
Warburg Pincus
$100M - Series D Dec 2017
Ehsy (2002, Shanghai, $100M)
Industrial B2B E-commerce marketplace
CICC
$100M - Series C Nov 2018
Baibu (2013, Guangzhou, $156M)
B2B fabric trading platform
Source Code Capital, Chengwei Capital, Yunqi
Partners, Bull Capital, Tiger Global Management
$100M - Series C Jun 2017
Guangzhou Batulu Information
Technology (2013, Guangzhou, $107M)
B2B trading platform for automotive aftermarket
products
Zhongding Venture Capital Management

Most Active Investors (VC, PE) by Stage in B2B E-Commerce; Last 5 years (May 2014-May 2019)
Most Active VC & PE Investors
41
B2B E-Commerce > Investment Trends > Most Active VC & PE Investors
SEED STAGE
FJ Labs (4 Investments)
Procsea, Bulk MRO, Restaurant Cheetah
1
Right Side Capital Management(3
Investments)
Swag, Inklocker, Sourcify
2
Accel (2 Investments)
Moglix, Bizongo
3
Golden Gate Ventures(2 Investments)
Hubba, IndoTrading
4
Kae Capital (2 Investments)
Zetwerk, Wotu
5
Yukti (2 Investments)
Crofarm, ShoeKonnect
6
Infuse Ventures (2 Investments)
Ezysolare, Glowship
7
Panache Ventures(2 Investments)
Spocket, SalonHQ
8
Incubate Fund India (2 Investments)
ShopKirana, Kobster
9
New Enterprise Associates
Sundar
10
EARLY STAGE
Ninjacart, Agrostar, Zetwerk
1
Entrepreneur Venture (3 Investments)
Mesmateriaux, Sparklane, Compufirst
2
Kalaari Capital (3 Investments)
Industrybuying, Jumbotail, Unilog
3
Bessemer Venture Partners (2
Investments)
ACV Auctions, Wydr
4
Venrock (2 Investments)
6sense, Kontor
5
Qualcomm Ventures (2 Investments)
Ninjacart, Meus Pedidos
6
Earlybird Venture Capital (2 Investments)
KREATIZE, Bonagora
7
Partech(2 Investments)
Alkemics, TradeDepot
8
Spark Capital(2 Investments)
Full Harvest, Lumi
9
Foundry Group (2 Investments)
Chewse, MakeTime
10
LATE STAGE
DST Global (2 Investments)
AUTO1, Udaan
1
3i Group
Lampenwelt
2
Bain Capital Ventures
ACV Auctions
3
ezCater
4
Amadeus Capital
IndiaMART
5
Accomplice
InsightSquared
6
Insight Venture Partners
ezCater
7
Ninjacart
8
GIC
ezCater
9
WestBridge Capital Partners
IndiaMART
10

B2B E-Commerce > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in B2B E-Commerce; Last 5 years (May 2014-May 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(10 Investments)
Womply, Hubba, DropShip Commerce (Dsco)
1
Y Combinator(9 Investments)
EquipmentShare, Lumi, WaystoCap
2
Plug and Play Tech Center(8 Investments)
KREATIZE, Shelvspace, Spocket
3
Techstars(7 Investments)
Gridcraft, Spocket, Sundar
4
IIDF(6 Investments)
AsiaOptom, FBQ, Letmart
5
Axilor Ventures(3 Investments)
The Fashion BARN, Cash Positive, The Design Cart
6
Wayra(2 Investments)
Contratan.do, TiendAPP
7
Innovacorp(2 Investments)
SupplyStream, Ocean Executive
8
TLabs(2 Investments)
Prokure, Digichorus
9
Village Capital(2 Investments)
M-shamba App, Olivine Tech
10
OTHER NOTABLE INVESTORS
IFC(4 Investments)
Power2SME, Moglix, Bizongo
1
SoftBank Group(3 Investments)
AUTO1, ASKUL, ACV Auctions
2
Info Edge(3 Investments)
ShopKirana, ShoeKonnect, Wishbook
3
Hearst(2 Investments)
Cortera, Systum
4
Bain Capital(2 Investments)
Mirakl, Bulk MRO
5
GSMA(2 Investments)
Twiga, AgroCenta
6
FundersClub(2 Investments)
EquipmentShare, Asseta
7
AngelList(2 Investments)
ShopKirana, Datanyze
8
Indian Angel Network(2 Investments)
MaxWholesale, ShoeKonnect
9
Mumbai Angels(2 Investments)
Wotu, Truce
10
DEBT INVESTORS
InnoVen Capital(4 Investments)
Power2SME, OfBusiness, Moglix
1
Idinvest Partners(2 Investments)
Mesmateriaux, WER LIEFERT WAS
2
Trifecta Capital(2 Investments)
Ninjacart, Industrybuying
3
The Carlyle Group
HD Supply Facilities Maintenance
4
Silicon Valley Bank
6sense
5
Horizon Technology Finance
WebLinc
6
Enterprise Ventures
Complete Office Solutions
7
NewSpring Capital
NuORDER
8
Beedie Capital Partners
BuildDirect
9
St. Cloud Capital
BigRentz
10

B2B E-Commerce > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/4)

B2B E-Commerce > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
48
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Home Improvements
Apr 2019
Internet First Brands
Apr 2019
Online Retail
Mar 2019

Marketmap: B2B E-Commerce
50
B2B E-Commerce > Market Details > BlueBox

Key Sub Sectors (1/2)
51
Key Sub Sectors in B2B E-Commerce
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Automobile
Businesses dealing with wholesale transactions in the automobile value chain
28 11 $1.2B
Horizontal
Companies dealing in products belonging to multiple categories
IndiaMART (1996, Noida, $35.3M)
444 104 $1.1B
Technology Enablers
Companies providing software or technology solutions for B2B businesses
Venzee (2014, Vancouver, Acquired)
253 127 $950M
Services
Platforms for B2B service needs like manufacturing, and printing
MFG.com (2000, Atlanta, $33M)
177 51 $766M
Industrial Goods
Companies dealing in industrial goods, supplies, equipment and tools
Digi-Key Electronics (1972, Thief River
Falls)
Ritchie Bros. Auctioneers (1958, Valley
Falls, Public)
454 92 $633M
Office Supplies
Companies helping offices to procure products like stationaries, furniture, printers, and
equipment
175 49 $564M
Food & Beverages
Companies involved in trading of products related to food and beverage sector
161 64 $270M
Home Construction & Improvement
Companies engaged in facilitating products and supplies of building materials, furniture and
home decor
Dering Hall (2011, New York City, Acquired)
173 36 $229M
Consumer Electronics
Companies dealing in wholesale of consumer electronic products such as cell phones, cell
phone accessories, and white goods
Lampenwelt (2002, Schlitz, Acquired)
Expansys (1997, Montpellier-de-medillan,
Public)
74 13 $135M
B2B E-Commerce > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
52
Key Sub Sectors in B2B E-Commerce
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Fashion
Companies dealing in wholesale transactions of fashion categories like apparels, shoes,
accessories etc and connecting suppliers of raw materials to ...
Joor (2010, New York City, $36M)
INTURN (2013, New York City, $35.9M)
192 37 $122M
B2B E-Commerce > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/14)
53
B2B E-Commerce > Market Details > Detailed Sector Taxonomy

54

55

56

57

58

59

60

61

62

63

64

65

66

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+5)
Horizontal > Marketplace
Platforms enabling trade between businesses with facilities like payment and delivery
(Companies covered 136 | Funded 31 | Total Funding $573M)
$535M
(+$514M)
17
(+1)
Udaan
2
(+6)
Food & Beverages > Groceries > Farm Products > Marketplace
Online platforms enabling trading of edible farm produce between farmers and businesses
$142M
(+$125M)
10
(-1)
Ninjacart
3
(+2)
Services > Catering > Marketplace
Catering marketplaces offering food for offices
$288M
(+$184M)
5
(-1)
ezCater
(2007, Boston, $320M)
4
(+5)
Technology Enablers > Shopping Cart > Proprietary
Licensed and hosted software stacks for building online stores for manufacturers which charges an
initial one-time or subscription fee
$79.7M
(+$52.6M)
7
(+2)
Mirakl
(2012, Paris, $100M)
5
(+19)
Fashion > Finished Product > Marketplace
Marketplaces offering finished fashion products to businesses
(Companies covered 53 | Funded 18 | Total Funding $82.6M)
$55.8M
(+$50.9M)
10
(+4)
OrderMyGear
(2007, Dallas, $35.6M)
6
(+13)
Food & Beverages > Groceries > Processed Products > Marketplace
Platforms enabling wholesale trading of processed groceries
(Companies covered 23 | Funded 8 | Total Funding $49.1M)
$46M
(+$43.4M)
10
(+3)
FoodMaven
(2015, Denver, $24.6M)
7
(-)
Industrial Goods > Heavy Machinery > Rental
Companies facilitating heavy equipment to businesses on rent
$58.7M
(+$18.4M)
7
(+1)
EquipmentShare
(2014, Columbia, $71.1M)
67
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in B2B E-Commerce in last 2 years (May 2017 - April 2019)
B2B E-Commerce > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
B2B E-Commerce > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Services > Manufacturing > Marketplace
Marketplaces offering manufacturing services
(Companies created 13 | Funded 11 | Total Funding $65.3M )
1 Zetwerk (2018, Bangalore, $10.2M)
2
Food & Beverages > Restaurant's Equipment and Tools > Marketplace
Platforms enabling trading of equipment, daily supplies, maintenance good etc., for restaurants and hotels
(Companies created 6 | Funded 3 | Total Funding $540k )
1 Stoqo (2016, Jakarta, $0)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
69
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (May 2017 - April 2019)
B2B E-Commerce > Market Details > Top Markets of Early Stage Investors

Incubators Bitkemy Ventures (#1), Y Combinator (#1)
Seed Battery Ventures (#1), Splice Capital (#1)
Series A/B Jungle Ventures (#1), Bessemer Venture Partners (#1)
Series C+ Insight Venture Partners (#1), DST Global (#1)
TradeKorea May - 2018
Acq by macdermid.com
Seed
WaystoCap (2014, Casablanca, $3M)
$340k - Seed
Dropee (2016, Shah Alam, $408k)
$15M - Series C
NuORDER (2011, West Hollywood,
$40M)
$225M - Series C
Seed
Lal10 (2015, Bangalore)
$599k - Seed
Kobster (2012, Chennai, $1.3M)
$63.7M - Series B
$171k - Series A
Wydr (2015, Gurgaon, $3.1M)
$864k - Series A
$3.8M - Series A
Tundra (2011, San Francisco, $3.8M)
$285k - Seed
Bazaar (2016, Bronx, $1.3M)
May 2019 Trustroot puts Rs 139 cr in Udaan, Indiatimes
May 2019
Commercio.network Launches, the Documents Blockchain is
Live, Newswire
Mar 2019
Kenya’s Sokowatch, Asoko Insight, WaystoCap, TousFacteurs
& MaxAB raise funding from Morocco-based Outlierz
Ventures, Techmoran
Jan 2019
PPI Pyungwha’s water pipe proven earthquake resistant,
Pulse
Jan 2019
How Building Their Platform From Scratch Helped Dropee
Secure RM1.4 Mil In Seed Funding, Vulcan Post
Jan 2019
Kiu mulls investing over $3m to build SME lending platform
in Myanmar, Deal Street Asia
Jan 2019
Website in Just 5 Minutes - Tradeindia.com Launches
GetBizOnline App for SMEs, Business Wire India
Dec 2018
The year 2018 saw a rise of unicorns in Indian startups
across verticals, TheNewsMinute
Dec 2018
NuORDER Secures $15 Million Funding to Accelerate B2B
eCommerce, VCA Online
Nov 2018
Will Paytm Mall mirror Udaan’s strategy in B2B commerce?,
Entrackr
Nov 2018
Marine Toys for Tots Welcomes DollarDays as National
Partner, My Social Good News
Sep 2018 Udaan: The fastest unicorn that got wings!, Start-Up Hyderabad
Sep 2018
Udaan, the e-commerce startup led by three former Flipkart
executives, raises $225M, Consultants Insider
Sep 2018
Udaan Is India’s Fastest Unicorn – Find Out Its Secret Of
Success!, Trak in
News
2
5
11
31
136
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Horizontal > Marketplace: Market Factsheet
70
Exits
Recent InvestmentsPlatforms enabling trade between
businesses with facilities like
payment and delivery
Udaan
WaystoCap
(2014, Casablanca, $3M)
aikucun.com
($213M)
Shotang
(2013, Bangalore, $5.9M)
Ostabay
(2015, Bangalore)
Top Companies
#1 Top Markets of Investment Activity
B2B E-Commerce > Market Details > Market: Marketplace
Companies Created 136 | Funded 31 | Total Funding $573M
0
10
20
30
$0k
$500M
$1.B
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Marketplace

Horizontal > Marketplace: Top Companies
Market: Marketplace
Analyst’s Pick
Unicorn. Stage: Series C
aikucun.com ($213M)
Minicorn. Stage: Series B
GGV Capital, Sinovation Ventures, Zhongding
Venture Capital Management, Legend Capital
Online B2B marketplace for retailers to source
inventory
Minicorn. Stage: Series A
Patamar Capital, Exfinity Venture Partners,
Bitkemy Ventures and 2 Other Investors
WaystoCap (2014, Casablanca, $3M)
B2B marketplace catering to Africa
Editor's Pick. Stage: Seed
Outlierz, Y Combinator, Battery Ventures and 11
Other Investors
Analyst’s Pick
Ostabay (2015, Bangalore)
E sourcing of imported indian goods for foreign
customers
Editor's Pick. Stage: Unfunded
WinningLoop (2016, Bangalore)
Online-first wholesale distribution platform
Editor's Pick. Stage: Unfunded

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
72
Horizontal > Marketplace: Leaderboard
Better than Market Average
Market: Marketplace
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Udaan 2016 Bangalore Series C $299M 3 5 5 - - - 3M 18.7k 18 15.4k 470% - -
3.8 WaystoCap 2014 Casablanca Seed $3M 2 - - - 4 352 - - 5 - - 40 13%
3.7
Bamboo
Rose
2001 Gloucester Series A - 1 - 5 5 4 946 300 19 18 3 19% 13 1%
3.5 Shotang 2013 Bangalore Series A $5.9M 3 - 4 - - 96 31k 297 2 2 1% 1 1%
3.4 NuORDER 2011
West
Hollywood
Series C $40M 3 - - - - - - - 7 - - - -
3.4 TradeIndia 1996 Delhi Unfunded - - - 4 - - 5.3k 304k 5.4k 3 795 17% 117 2%
3.2 aikucun.com 0.0 Series B $213M 3 - - - - - - - - - - - -
2.9 Tundra 2011
San
Francisco
Series A $3.8M 1 4 - - 3 696 - - - - - 8 1%
2.9 Lal10 2015 Bangalore Seed - 1 - - 4 5 201 - - 1 - - 3 2%
2.7 BigTrade 2017 Bangalore Unfunded - - 4 4 - - 7 33k 181 - 71 65% 2 40%
2.7 Wydr 2015 Gurgaon Series A $3.1M 3 - - - - 39 - - 9 - - -3 -7%
2.7 VORTAL 2000 Lisbon Series A - 2 - - - - 195 - - 1 - - 6 3%
2.6 Dropee 2016 Shah Alam Seed $408k 4 - - - - 47 - - 3 - - - -
2.6 Prokure 2015 Gurgaon Seed $525k 2 - 4 - - - 8k 237 1 - - - -
2.6 Kobster 2012 Chennai Seed $1.3M 4 - - - - - - - 1 - - - -

Incubators VILLGRO (#1), Citadel Ventures (#1)
Seed FJ Labs (#1), BDC (#1)
Series A/B Accel (#1), Qualcomm Ventures (#1)
Series C+ Tiger Global Management (#1)
Cannabase Jul - 2016
Acq by HELIX TCS INC
$89.4M - Series C
$509k - Seed
$34.7M - Series B
$8.5M - Series A
Full Harvest (2015, San Francisco,
$10.5M)
$4.9M - Series A
$3M - Seed
Procsea (2015, Montreux, $3M)
$138k - Series B
Seed
Wotu (2015, Bangalore, $463k)
$57.2k - Seed
KrishiHub (2016, Bangalore, $57.2k)
$784k - Seed
$2M - Seed
Full Harvest (2015, San Francisco,
$10.5M)
May 2019
Agritech start-up Ninjacart may tie up with supermarkets for
groceries, Business Standard
Mar 2019
Ninjacart Strengthens India’s Farmer/Retailer Network with
the Launch in Delhi, Mumbai and Pune, BW Businessworld
Feb 2019
Startups are deploying tech to improve farm-to-fork supply
chain and offer farmers better prices, Indiatimes
Jan 2019
Greek online grocery e-Fresh grew 93% in 2018, Ecommerce
News
Jan 2019
Delhi-Based Agritech Firm Crofarm Raises Bridge Round of
$500K, TechStory
Nov 2018
Happened in Indonesia: Tokopedia launches new app,
Sikumis raises follow-on funding, E27
Aug 2018
Fighting food waste, Full Harvest raises $8.5m to bring
excess produce to commercial buyers, TechCrunch
Jul 2018
Accel, others pump fresh funds into B2B marketplace
Ninjacart, VCCircle
Jul 2018
Aggrigator™ Food Hub Network Expands to Harvest Santa
Barbara, Newswire
Mar 2018
Ninjacart Raises $1 Mn In Venture Debt Funding From
Trifecta Capital, Inc42
Feb 2018
With $1 Mn topline, Crofarm marches towards eliminating
middlemen between farm and retail, Entrackr
Jan 2018
Tech Financing in India this week – Fintech takes the lead,
AllTechAsia
Sep 2017
Ninjacart is tapping into tech to connect farmers to
businesses and minimise wastage, YourStory Media
News
2
4
6
28
66
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Food & Beverages > Groceries > Farm Products > Marketplace: Market Factsheet
73
Exits
Recent InvestmentsOnline platforms enabling trading
of edible farm produce between
farmers and businesses
Ninjacart
Aggrigator
(2015, Palo Alto, $4.3M)
Crofarm
(2016, Delhi, $2.8M)
Full Harvest
(2015, San Francisco, $10.5M)
Procsea
(2015, Montreux, $3M)
Top Companies
0
5
10
15
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Market: Marketplace

Food & Beverages > Groceries > Farm Products > Marketplace: Top Companies
Market: Marketplace
Analyst’s Pick
Tiger Global Management, Accel, Syngenta Ventures
Full Harvest (2015, San Francisco, $10.5M)
Online B2B marketplace for imperfect food produce
Editor's Pick. Stage: Series A
Spark Capital, Adam Zeplain, Jennifer Fleiss and 9
Other Investors
Aggrigator (2015, Palo Alto, $4.3M)
B2B ecommerce platform for agricultural
commodities
Elevate Innovation Partners
Procsea (2015, Montreux, $3M)
B2B seafood marketplace
FJ Labs, Samaipata Ventures, Piton Capital and 2
Other Investors
Analyst’s Pick
farm to business
Minicorn. Stage: Seed
Ramit Sethi, Vinay Mittal, FactorEVentures and 29
Other Investors
SupplyBunny (2016, Petaling Jaya, $300k)
B2B marketplace for wholesale grocery delivery
Gobi Partners, Mavcap
Direttoo (2016, Rome, $296k)
Online marketplace for the farmers to sell their
produce to restaurants
LVenture Group, Luiss Enlabs
Kisan Network (2015, Delhi)
B2B marketplace for farmers and bulk buyers in
India
Y Combinator
Analyst’s Pick
Cannabase (2013, Denver)
Online platform for cannabis products wholesale
Editor's Pick. Stage: Acquired
Ninayo (2015, Vaxjo)
Africa's online trading platform for agriculture
Editor's Pick. Stage: Funded
Science

75
Food & Beverages > Groceries > Farm Products > Marketplace: Leaderboard
Market: Marketplace
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Ninjacart 2015 Bangalore Series C $138M 7 - 4 3 5 548 30k 870 17 1.2k
-
368%
200 57%
3.7 Full Harvest 2015
San
Francisco
Series A $10.5M 2 - - - - - - - 2 - - 35
-
100%
3.7 KrishiHub 2016 Bangalore Seed $57.2k 1 - 4 - 3 93 30k 74 2 38 106% 16 21%
3.6 Crofarm 2016 Delhi Seed $2.8M 3 5 - - - 374 - - 5 - - - -
3.0
Ocean
Executive
2014 Halifax Seed $100k 1 - - - - 2k - - - - - 45 2%
2.9 EFresh.com 2009 Rotterdam Series A $5.4M 1 - - - - 842 - - 1 - - -10 -1%
2.8 Aggrigator 2015 Palo Alto Seed $4.3M 2 - - - - 24 - - 5 - - - -
2.8 Direttoo 2016 Rome Seed $296k 1 - - - - 179 - - 2 - - 3 2%
2.8 VegFru 2015 Delhi Seed - 1 - 4 - - 294 3k 71 - - - 4 1%
2.7 Eattiamo 2014 La Spezia Seed - 1 - - - - 800 - - - - - 12 2%
2.5 Foodem 2010 Baltimore Seed $800k 3 - - - - 811 - - - - - -3 -
2.4
Kisan
Network
2015 Delhi Seed - 1 - - - 3 217 - - - - - 5 2%
2.3 IGrain 2009 Bathurst Funded - - - - - - 902 - - - - - 39 5%
2.2 Wotu 2015 Bangalore Seed $463k 2 - - - - - - - 3 - - - -
2.1 Agribazaar 2011 Mumbai Unfunded - - - 5 4 3 18 8k 70 - 25 56% - -

Incubators Y Combinator (#1), InnoSpring (#1)
Seed First Round Capital (#1), Telegraph Hill Capital (#1)
Series A/B Great Oaks Venture Capital (#1), Romulus Capital (#1)
Series C+
Insight Venture Partners (#1), Lightspeed Venture Partners
(#1)
GoCater Jul - 2018
Acq by ezCater
$150M - Series D
$19M - Series B
$100M - Series D
$12M - Series B
ZeroCater (2009, San Francisco,
$17.6M)
$7.3M - Series B
$30M - Series C
$35M - Series D
$4.1M - Series A
ZeroCater (2009, San Francisco,
$17.6M)
$800k - Seed
CaterSpot (2016, Singapore, $800k)
$28M - Series C
$5.9M - Series A
Apr 2019
ZeroCater Appoints Vice President of Sales and Vice
President of Product, PR Newswire
Apr 2019
ZeroCater Adds Enterprise Catering To Offerings For Larger
Workplaces, Vending Times
Apr 2019
EAT Club Acquires Taro to Offer Clients Unique, Globally-
Inspired Food Offerings on Demand, Business Wire
Dec 2018
Corporate food catering startup Chewse raises $19 million,
TechCrunch
Jul 2018
ezCater’s $100 Million Series D Financing, Global Legal
Chronicle
Jun 2018
Boston’s ezCater raises $100 million to take its corporate
catering platform international, VentureBeat
Jun 2017
Virtual meal manager Chewse rakes in $7 mln Series B, PE
Hub
May 2017
EAT Club Raises $30M Series C to Accelerate Expansion, VCA
Online
Jan 2017
EzCater raises $35 million from firm that handles Mark
Zuckerberg's money, The Business Journals
Apr 2016
HK-based online catering platform CaterSpot bags US$800K
seed funding, E27
Sep 2015
Chewse Raises $5.9m in Series A Venture Capital Funding
|FinSMEs, FinSMEs
Oct 2012 Sh*t 500 Says - 500 Startups, 500 Startups
News
1
3
4
5
8
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Services > Catering > Marketplace: Market Factsheet
76
Exits
Recent InvestmentsCatering marketplaces offering
food for offices
ezCater
(2007, Boston, $320M)
ZeroCater
(2009, San Francisco, $17.6M)
Chewse
(2011, San Francisco, $34M)
Eat Club
(2010, Palo Alto, $46.5M)
CaterSpot
(2016, Singapore, $800k)
Top Companies
0
5
10
$0k
$200M
$400M
2014 2015 2016 2017 2018
Market: Marketplace

Services > Catering > Marketplace: Top Companies
Market: Marketplace
Analyst’s Pick
for enterprises
Lightspeed Venture Partners, GIC, Iconiq Capital
Restaurants delivery to office
Sodexo, August Capital, Trinity Ventures and 8
Other Investors
events
Minicorn. Stage: Series B
Foundry Group, Telegraph Hill Capital, Rocketship
Cleveland Avenue, Romulus Capital, Struck Capital
Analyst’s Pick
CaterSpot (2016, Singapore, $800k)
Online B2B marketplace for catering services
Triplestar Capital, Swiss Founders Fund

78
Services > Catering > Marketplace: Leaderboard
Market: Marketplace
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Chewse 2011
San
Francisco
Series B $34M 8 - - - - 1.6k - - 5 - - 21 1%
5.0 ZeroCater 2009
San
Francisco
Series B $17.6M 3 - - - - 2.5k - - 7 - - 15 1%
4.3 ezCater 2007 Boston Series D $320M 7 - - - - - - - 18 - - - -
4.3 Eat Club 2010 Palo Alto Series C $46.5M 4 - 4 - - - 31k 79 4 6 8% - -
3.5 CaterSpot 2016 Singapore Seed $800k 1 4 - - - 330 - - 1 - - 4 1%
3.3 GoCater 2016 Paris Acquired - - 5 - - 3 95 - - 2 - - 10 12%
0.8 Foodeebro 2015 Bangalore Unfunded - - 5 - - - - - - - - - - -
0.0 Catersmith 2010 Singapore Unfunded - - - - - - - - - - - - - -

B2B E-Commerce > Market Details > Market: Proprietary
Market: Proprietary

Market: Proprietary

Companies Created 53 | Funded 18 | Total Funding $82.6M
Market: Marketplace

Market: Marketplace

B2B E-Commerce > Market Details > Market: Rental
Market: Rental

Market: Rental

B2B E-Commerce > Market Details > Market: Analytics
Market: Analytics

Market: Analytics

B2B E-Commerce > Market Details > Market: E-Distributor
Market: E-Distributor

Market: Marketplace

#1 Top Markets of Early Stage Investors
Market: Marketplace

Market: Marketplace

Companies Created 6 | Funded 3 | Total Funding $540k
Market: Marketplace

Market: Marketplace

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
105
Notable Acquisitions
Top Acquirers

Public companies (1/3)
107
List of Public Companies in B2B E-Commerce
IPO Date Company
IPO
Mcap
Exchange
Ticker
Oct 2018
EC21 Inc (2000, Seoul)
Listing Plarform with Basic and Premium Membership
$88.4M KRX:290670
Aug 2018
Tilray (2013, Nanaimo)
Produces and supplies processed cannabis products for medical
purposes
$1.3B NASDAQ:TLRY
Jul 2013
MOONBAT (1941, Kyoto)
TYO:8115
Jun 2013
HD Supply Holdings (2007, Atlanta)
$3.3B NASDAQ:HDS
Oct 2010
HC Network (1992, Beijing)
B2B e-commerce listing platform
HKG:2280
Apr 2010
SPS Commerce (1998, Minneapolis)
Cloud-based software for omni channel retail supply chain
management
$131M SPSC
Dec 2005
CloudBuy (1999, Reading)
Online marketplaces and private purchasing portals
LON:CBUY
Dec 2004
BlueLinx Corporation (2004, Atlanta)
Distributor of building products
$413M NYSE:BXC
Apr 2004
ASKUL (1963, Minato)
Office supplies distributor
TYO:2678
B2B E-Commerce > Exit Outlook > Public Companies

108
IPO Date Company
IPO
Mcap
Exchange
Ticker
Mar 1998
Ritchie Bros. Auctioneers (1958, Valley Falls)
Auction platform for heavy industrial equipments
$274M NYSE:RBA
Oct 1994
HPI (1982, Brooklyn)
E-distributor of consumer electronic products
NYSE:HNP
Jan 1978
Grainger (1927, Savannah)
Supplier of MRO products
NYSE:GWW
Myplas (2007, Shanghai)
B2B e-commerce platform for plastics
China Aluminium Network (2002, Hangzhou)
B2B Aluminium Marketplace
Enlightcorp.com (1996, Taipei)
OfficeMate (2012, Bangkok)
Distributor of office essentials
Noble Iron (2010, Houston)
Construction and industrial equipment rental and distribution, and
enterprise asset management software
CVE:NIR
B2BManufactures.com (1995, Taichung)
Siam Global House Public Company (2007, Roi Et)
E-distributor of multi-category products
BKK:GLOBAL

109
IPO Date Company
IPO
Mcap
Exchange
Ticker
Global Market (1997, Guangzhou)
Online platform for made in China products
Giuseppe Garment (1995, Wenzhou)
Online community-driven platform for fashion enthusiasts
Expansys (1997, Montpellier-de-medillan)
Online retailer of technology products
ECPlaza (1996, Seoul)
Global B2B Marketplace
Distrelec (1973, Nanikon)
Online Distributor of electronic and technical products
Cogobuy (2000, Shenzhen)
E-distributor of electronic components
China.cn (2006, Beijing)
Online B2B platform which connects global buyers and China
suppliers
ALSO Holding AG (1984, Emmenbrucke)
B2B Marketplace for IT Products
SWX:ALSN
Alibaba.com (1999, Hangzhou)
Online B2B cross-border marketplace for multi-category products

Notable Acquisitions (1/3)
110
Notable Acquisitions in B2B E-Commerce
B2B E-Commerce > Exit Outlook > Notable Acquisitions
2018
Acquirer: KAR Auction Services
Deal: $103M
CarsOnTheWeb (2004, Tienen, $2.3M)
Online used car auction services provider
Acquirer: United Rentals Deal: $2.1B
BlueLine Rental (2001, Shippensburg)
Equipment Rental Company
Acquirer: Boeing Deal: $4.2B
KLX Aerospace Solutions (1974, Miami)
Supplier of Aerospace parts
2017
Acquirer: eBay Inc
Terapeak (2002, Victoria, $5M)
Analytics solution for sellers on e-commerce
platforms
Acquirer: Compusearch
FedBid (1999, Vienna, $2M)
Auction Listing Platform for Governments and
businesses
Acquirer: United Rentals Deal: $1.3B
Construction equipment rental company
Acquirer: hoffmann-group.com
Deal: $112M
Contorion (2014, Berlin)
B2B online Marketplace for Industrial Tools and
Supplies
Acquirer: Maven Capital Partners
Deal: $6.4M
ProspectSoft (2000, High Wycombe)
Cloud-based CRM and eCommerce platform
2015
Acquirer: N & B Well Service
Lampenwelt (2002, Schlitz, $130M)
Online Distributor of lighting equipment
Acquirer: Dun & Bradstreet Deal: $125M
NetProspex (2006, Waltham, $27.5M)
B2B data lead generation data and data
management

111
2014
Acquirer: The Better Capital Deal: $136M
OfficeTeam (1888, Croydon)
Business services and supplies company
Acquirer: NetSuite Deal: $50.5M
Venda (2001, London, $26M)
e-commerce Platform Provider
Acquirer: Intuit Deal: $30M
Lettuce (2011, Los Angeles, $2.1M)
Inventory and Order Management System
2012
Acquirer: Ingram Micro Deal: $840M
BrightPoint (1989, Indianapolis)
Online B2B platform for wireless devices and other
services
Before 2008
Acquirer: Dun & Bradstreet Deal: $119M
Hoover's (1990, Austin)
Business listing portal
Acquirer: HAHT Commerce
iMediation (1998, Paris, $88.5M)
B2B e-commerce platform provider
Acquirer: Staples Deal: $685M
Quill (1956, Chicago)
Essential products for businesses
Acquirer: Office Depot Deal: $3B
Viking (1960, Leicester)
Supplier of Office Products

112
Others
Acquirer:
CDI Computers (1981, Markham)
Distributors of refurbished and new computers
Acquirer: Initiative & Finance
123IMPRIM (2012, Lyon)
E-distributor of promotional goods & services

Most Active Acquirers
113
B2B E-Commerce > Exit Outlook > Most Active Acquirers

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
114
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

B2B E-Commerce > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in B2B E-Commerce; Last 5 years (May 2014 - Apr 2019)
Index of Most Active VC & PE Investors
SEED STAGE
FJ Labs (4 Investments)
Right Side Capital Management (3 Investments)
Golden Gate Ventures (2 Investments)
Kae Capital (2 Investments)
Yukti (2 Investments)
Infuse Ventures (2 Investments)
Panache Ventures (2 Investments)
Incubate Fund India (2 Investments)
New Enterprise Associates
Sequoia Capital
Battery Ventures
Matrix Partners
Apax Partners
GV
EARLY STAGE
Entrepreneur Venture (3 Investments)
Kalaari Capital (3 Investments)
Bessemer Venture Partners (2 Investments)
Venrock (2 Investments)
Qualcomm Ventures (2 Investments)
Earlybird Venture Capital (2 Investments)
Partech (2 Investments)
Spark Capital (2 Investments)
Foundry Group (2 Investments)
Formation 8 (2 Investments)
GMO Venture Partners (2 Investments)
Volition Capital (2 Investments)
SMBC Venture Capital (2 Investments)
Project A (2 Investments)
LATE STAGE
DST Global (2 Investments)
3i Group
Bain Capital Ventures
Amadeus Capital
Accomplice
Insight Venture Partners
GIC
WestBridge Capital Partners
Target Global
Accel-KKR
Piton Capital
Quadrille Capital
Project A

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