CADDi raises $89 million in Series C funding - Funding will be used to accelerate Digital Transformation in manufacturing, the world's largest industry

CHICAGO -- July 5, 2023 -- CADDi Inc., a global procurement solutions provider for the manufacturing industry, announced that it 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 Inc., 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 new investment will be primarily deployed to bolster the "CADDi Manufacturing" division, enhance technological capabilities of "CADDi Drawer," and expand the global workforce to achieve our goals of generating $10 billion in revenue by 2030, with CADDi Drawer contributing over $100 million in ARR within a few years and $1 billion in revenue by 2030. To achieve our targets, the US office will expand to 100 employees within a year.

CADDi, which has a strong presence in Japan, is also concentrating on international expansion. With 590 employees globally, it has recently established a US division and Mexico supplier operations to cater to American manufacturers.

CADDi is committed to rapid expansion in pursuit of our mission to unlock the potential of customers, partners, employees, and all entities engaged in manufacturing

List of investors

GLOBIS CAPITAL PARTNERS
DCM Ventures
Global Brain Corporation
WiL
JAFCO Group
Minerva Growth Partners
Green Co-invest Investment Limited Partnership
SUMITOMO MITSUI TRUST INVESTMENT(Investment advised by Japan Post Investment Corporation)
SMBC Venture Capital
Mitsubishi UFJ Capital