Stockholm, Sweden – November 20, 2024
Kodiak Hub, a leading Supplier Relationship Management (SRM) platform, announced it has raised €6 million in funding from B2B SaaS investor Oxx. This investment will accelerate the company’s global expansion, particularly into the US market, and fuel the development of its AI-driven data analytics tools.
Driving Sustainable and Resilient Supply Chains
Founded by Malin Schmidt, Kodiak Hub empowers procurement leaders with a cloud-based platform to build resilient, sustainable supply chains. The platform offers a 360-degree risk overview, transforming complex data into actionable insights to optimize decision-making. Currently supporting over 80 procurement leaders across industries, Kodiak Hub’s tools improve supplier performance, reduce risks, and enhance compliance.
CEO Malin Schmidt commented, “Our mission is to address fundamental flaws in global supply chains by providing procurement leaders with the tools to make smarter, more sustainable decisions. With Oxx’s investment, we’re poised to extend our impact globally, especially in the US, while continuing to innovate with AI-driven capabilities.”
Key Funding Objectives
• Global Expansion: Strengthening presence in Europe and entering the US market.
• Team Growth: Expanding commercial and data analytics teams across regions.
• AI Innovation: Enhancing AI-driven tools to provide deeper insights and efficiency for procurement teams.
Industry Recognition and Results
Kodiak Hub has been recognized in the ProcureTech 100 and named a “Customer Favorite in Supplier Management” for consecutive years. The platform manages over 250,000 suppliers across 20+ industries in 176 countries, delivering:
• 7-10% Cost Savings: On average, customers save significantly on total spending.
• Improved Efficiency: Automating SRM tasks saves users approximately 10 hours per week.
• Faster Supplier Onboarding: Processes are 80% faster than traditional methods.
Partnering with Oxx for Impactful Growth
Oxx’s Principal Ingrid Bonde Åkerlind stated, “Kodiak Hub’s advanced analytics and AI-driven insights uniquely position it to lead in managing supplier quality, risk, and compliance. We’re thrilled to partner with Malin and her team as they redefine Supplier Relationship Management for a sustainable future.”
About Kodiak Hub
Kodiak Hub provides innovative tools to optimize supplier collaboration, improve supply chain resilience, and drive sustainability. With a commitment to transforming procurement, the platform supports businesses in achieving their strategic and operational goals through data-driven insights.
For more information, visit kodiakhub.com.
