Business commerce platform Tradeshift has pulled in a $250 million Series E at a $1.1 billion valuation, making it the latest company to enter the 2018 unicorn club. PitchBook first reported in February that the startup was seeking to raise up to $200 million at a unicorn valuation, though Tradeshift CEO Christian Lanng declined to comment on the funding at the time.
The San Francisco-based company has raised about $400 million in venture capital funding to date, including a $75 million Series D in 2016 that valued it at $600 million.
Tradeshift's platform connects buyers and suppliers to help businesses digitize supply chain relationships and processes. It was founded by Lanng, Mikkel Hippe Brun and Gert Sylvest in 2009. As part of the latest round, Brun is joining Tradeshift's board of directors, per TechCrunch.