Seattle-area startup Intelage raised another $3.5 million to grow its software platform that helps suppliers, buyers, and partners manage commodities businesses.
Founded in 2017 by commodities trade and marketing veteran John Han, the company provides tools that speed up and automate various parts of a trading business, such as risk control, documentation, logistics, inventory management, communication, and cost optimization. The idea is to replace spreadsheets, email, and other apps with the Intelage platform.
Han said the 10-person company is seeing more demand due to the pandemic.
“We have started to notice an increased interest among many supply chain companies in software and tools to enable remote work and collaboration,” he said. “Given the uncertainty around when employees will be back in the office environment, this is fast becoming a priority for global trade organizations.”
Blumberg Capital led the most recent round, which included participation from Vulcan Capital and other backers. Ignition Partners and GoAhead Ventures participated in an earlier $2.3 million round in 2018.