Supply chain planning software startup Mercado has raised $2.5 million in venture funding for its platform that shifts the focus away from “last mile” supply chain operations and onto “first mile” events that occur in the first 120 days of the lifecycle.
The investment was led by Ironspring Ventures and joined by new investor Supply Chain Ventures. It follows a 2019 seed round of $3.2 million that was led by LiveOak Venture Partners with participation from Schematic Ventures, Story Ventures, and Amplifier. All of the seed investors also participated in the latest round.
Dallas-based Mercado says its platform connects global supply with global demand in order to help drive efficiency in the $11 trillion global trade market. Founded in 2018, the firm says it can bring the world of international trade into the digital age by helping businesses digitally track, change, and manage their orders from the moment a purchase order is placed. That approach can allow importers to improve their business operations, driving greater automation, collaboration, transparency, and predictability, the firm said.
“With emerging trade compliance issues, increasing duties and tariffs, and growing supply chain complexities as sourcing shifts among countries, importers need a platform to manage their goods flow in these difficult times,” Dave Anderson, Managing General Partner of Supply Chain Ventures, said in a release. “Mercado is the choice of leading companies to avoid costly mistakes in paperwork and logistics.”
Ty Findley, Ironspring Ventures’ managing partner, will now join the Mercado board of directors alongside current board members LiveOak Principal Mike Marcantonio and GT Nexus founder John Urban.
Mercado is proud to announce a $2.5M investment round led by @ironspringVC & joined by Supply Chain Ventures.— Mercado Labs (@mercadolabs) July 21, 2020
This investment comes after a $3.2 million seed round in 2019 led by @liveoakvp with @SchematicVC, @storyvc & @amplifierlab.
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