CADDi Inc., a global procurement solutions provider for the manufacturing industry, announced has secured a $89 million Series C funding round, raising its total capital to $164 million. The round was co-led by existing investors including Globis Capital Partners, DCM Ventures, Global Brain, World Innovation Lab WiL), JAFCO Group and Minerva Growth Partners with participation from four new investment partners.
CADDi, established in November 2017, aims to revolutionize the manufacturing sector by providing two innovative solutions: CADDi Manufacturing, a parts procurement platform, and CADDi Drawer, a cloud service for managing drawing data.
The investment primarily will be deployed to bolster the “CADDi Manufacturing” division, enhance the technological capabilities of “CADDi Drawer,” and expand the global workforce to achieve its goals of generating $10 billion in revenue by 2030, with CADDi Drawer contributing more than $100 million in ARR within a few years and $1 billion in revenue by 2030.
To achieve its targets, the U.S. office will expand to 100 employees within a year.
CADDi, which has a strong presence in Japan, also concentrates on international expansion. With 590 employees globally, it has established a U.S. division and Mexico supplier operations to cater to American manufacturers.
CADDi is committed to rapid expansion in pursuit of its mission to unlock potential customers, partners, employees and all manufacturing entities.