Why we invested in Chain.io
Grand Ventures is proud to have led Chain.io’s recent $5M seed round alongside Mercury Fund, Honeywell, and Engage!
Chain.io is building the modern supply chain data network. The Chain.io network connects systems that were never designed to work together. This works because under the hood, the Chain.io network has a deep understanding of the core concepts of supply chain including purchase orders, bookings, shipment instructions, and status messages.
Below are some of the key reasons why we invested in Chain.io:
- Market — One of the first things you realize when you start to learn about the incredibly complex world of supply chain is how siloed data is. This makes operations much more difficult than it needs to be. Not surprisingly, increased data visibility is at the top of most supply chain professionals’ wish list with 46% of respondents to a Gartner study saying it was their top priority. Various sector experts we spoke with during our diligence process echoed this and noted that the siloed data problem has been exacerbated even further by COVID.
- Team — When you talk to Brian Glick, Chain.io CEO, it becomes abundantly clear that you’re talking to someone who eats, sleeps, and dreams about solving the most challenging supply chain problems. We love working with founders who are not only extremely driven but also are truly enjoying the journey!
- Growth — The Chain.io integration network has doubled in size in the past year and now processes 100 million + data transformations per month. Even more exciting, we are starting to see network effects in the sales Brian and team are making — Chain’s adaptors are reusable and every customer is also a channel partner, making Chain highly sticky and scalable.
We are excited to work with Mercury Fund, Honeywell, Engage, and various advisors who are all invested in the future of Chain.io and bring decades of wisdom to the table. Shout out to Thiago Olson from Engage VC who introduced us to Brian!
