Afternoon Coffee: SupplyHive’s new CEO comes from Brunswick; Tealbook secures $14.4 million; Fintech Melio raises $110 million

Adobe Stock

SupplyHive, a supplier performance management provider, announced Wednesday that it named Louis Sandoval as Chief Executive Officer and Director of the company.

Sandoval has over three decades of experience leading companies. He has been an entrepreneurial builder of businesses, brands and high-performing teams across technology, consumer goods and biotechnology fields. Most recently, he held a senior leadership position at Brunswick Corp., where he spearheaded the development and commercialization of a new technology brand.

"I am honored to lead the company as SupplyHive’s Chief Executive Officer," Sandoval said in a press release. "I look forward to working closely with (Founder) Mike Anguiano, our exceptional leadership team and our entire board of directors. Together, we plan to take the company to the next phase of growth by remaining focused on applying digital innovation and operational efficiency to the supplier relationship management category and creating value for our stakeholders."

Sandoval succeeds Anguiano, who will stay on as a member of the leadership team and board of directors.

SupplyHive has been making moves in recent weeks. It recently released a paper discussing how best to measure your suppliers for making an impact.

Supplier intelligence provider Tealbook secures $14.4 million in funding

Tealbook, a supplier intelligence platform, announced it secured a $14.4 million round of funding, raised by lead investor RTP Global.

Tealbook is known for its platform that uses machine learning and artificial intelligence to provide deep data insights into the supply chain e-procurement ecosystem.

In a press release announcing the funding, Tealbook said it intends to use the latest funding to support innovation while driving sales and marketing initiatives to expand the company’s global footprint.

Stephany Lapierre, CEO and Founder of Tealbook, said: “Our investors realize the power that Tealbook gives back to (customers) as we are able to unify and synchronize supplier data like never before."

Julius Schwerin, Partner at RTP Global, said Tealbook's focus on data is key.

“There’s no shortage of companies seeking to accelerate digital transformation efforts," he said. "However, enterprises with vast and siloed supplier networks are dealing with the increasingly daunting task of accessing accurate and comprehensive supplier information to drive growth and innovation. And the reality is that the best software in the world is effectively useless without good data.”

B2B payments firm Melio secures $110 million in funding

Melio, a fintech known for digitally managing B2B payments and receivables, secured $110 million in a new round of funding, according to Crunchbase. Coatue led this latest round of funding, which raised Melio’s valuation to $1.3 billion.

The article reported that Melio’s monthly active users grew by more than 2,000% in 2020, which could be attributed to being in the right place at the right time as small businesses weathered a rough economy from the Covid-19 pandemic. The new funding will be used to support growth and continue to build out a platform that will enable partners to offer B2B payments to their clients.

“Melio has identified both the opportunity and duty to help small businesses manage their finances remotely and improve cash flow, in normal times as well as during this crisis, as physical payments supply chains are interrupted and overwhelmed,” Michael Gilroy, general partner at Coatue, said in a statement, Crunchbase reported.

The B2B wholesale payments industry is valued at $25 trillion in the US. But according to Melio’s co-founder and CEO, Matan Bar, the shift to digital in many industries that was accelerated by the pandemic has been slower in the B2B payments world. Melio aims to change that, he told Crunchbase.

The Spend Matters global monthly newsletter for January went out this month! Are you on the list? Don't miss out for 2021!

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.