Bizongo, Indian-based commerce B2B Company and supply chain enablement platform has raised 110 million dollars in funding led by New York-based Tiger Global Management. With this latest funding, the valuation has soared to 600 million dollars making it the market leader in the segment. Bizongo offers solutions for digital vendor management, supply chain automation, and financing its enterprise customer.
The company enables clients to digitize their entire vendor ecosystem and build integrated and connected supply chain processes. With the new funding that the company has received, it will revamp up its business and tech teams to develop a suite of digital services for both sides of the marketplace. It will also invest in nurturing its vendor partnerships and shall transform over 100 factories into true cloud factories through proprietary solutions.
Founded by Aniket Deb, Ankit Tomar and Sachin Agrawal in 2015 the company recorded an 8X growth in its topline from pre-pandemic sale clocking an ARR of 250 million US dollars in November and the company is now EBITDA profitable.
Bizongo focuses upon packaging, textile, consumer staples, home, and personal care, consumer discretionary, and other contract manufacturing goods on its product portfolio also has a network of over three thousand partner factories. The Indian company is also expanding its digital supply chain financing (SCF) platform in partnership with banks and NBFC’s.
The company also launched India’s first Internet of Things (IoT) powered cloud factory for made-to-order goods. Their software as a solution is expected to help manufacturers to provide their customers with real-time visibility, and control across the entire supply chain. Ansapack a leading pharmaceutical packaging manager saw success when this module was applied to it.
John Curtius a partner at Tiger Global said that the market for customized goods is the fastest-growing segment in B2B eCommerce. This market is huge yet it is fragmented and unorganized. Bizongo has an amazing capacity for growth and their full-stack approach with an asset-light operating model makes the company stand out as a leader.
