Stockholm-based Kodiak Hub, the one-stop-shop supplier relationship management (SRM) platform, announced on Wednesday that it has secured €6M in funding from B2B SaaS investment firm Oxx.
The Swedish company will use the funds to accelerate its global expansion, particularly into the US.
Talking about the expansion plan to Silicon Canals, Malin Schmidt, founder and CEO of Kodiak Hub says, “Our expansion plans are both ambitious and strategic, with the Netherlands being a key focus for steady and consistent growth. The region has been instrumental in our journey so far, and we’re committed to strengthening our presence there by fostering long-term partnerships and continuing to support the dynamic procurement and supply chain ecosystem.”
Additionally, the company is planning to grow its team in commercial and data analytics roles across Europe, including in the Netherlands.
“These roles are critical to enhancing our ability to support procurement teams with greater insights, speed, and efficiency,” she adds.
The company will also use the capital to further develop its product, focusing on its new AI-driven data analytics tool.
Addressing the fundamental flaws in global supply chains
Founded by Malin Schmidt, Kodiak Hub (formerly Kodiak Rating) is a Supplier Relationship Management (SRM) platform that helps strategic buyers and CPOs at mid-sized and large businesses onboard and assess suppliers to enhance performance.
Malin Schmidt explains the story behind founding Kodiak Hub, saying, “I founded Kodiak Hub to address the fundamental flaws I saw in global supply chains. Too often, business success was achieved at the expense of workers enduring unsafe conditions in distant factories, while decision-makers did not have enough insights to make buying decisions.”
“With years of experience in industrial operations, engineering, and research into modularity and industrial architecture, I’ve witnessed the good, bad, and ugly of manufacturing and supply chains. Poor quality, waste of resources, and unsafe working conditions harm efficiency, and fragmented processes lead to costly disruptions. Addressing these challenges requires collaborative innovation and a commitment to shared value—benefiting not just shareholders, but stakeholders, including people and the planet,” she adds.
According to Schmidt, Kodiak Hub is built on three guiding principles:
- Transforming supply chains
- User-friendly software
- Fostering a thriving culture
Creating strong and regional supply chains
Kodiak Hub offers a cloud-based solution that helps procurement leaders create strong and regional supply chains.
Recognising the need for reliable information for multi-billion-euro decisions, Kodiak Hub provides a 360-degree complete risk overview, turning complex data into clear and useful insights.
As per the company’s claims, over 75 per cent of its revenue comes from international markets, particularly Germany and the UK.
“Our business model is rooted in the SaaS (Software-as-a-Service) approach, which I find to be incredibly effective and innovative. SaaS allows companies to access state-of-the-art solutions in a cost-efficient way by sharing the investment in the software across customers and over time through a licensing model,” adds Schmidt.
Platform of choice for procurement leaders
Kodiak Hub has rapidly gained traction, becoming the platform of choice for more than 80 procurement leaders in manufacturing and other high-stakes industries.
They use Kodiak Hub to strengthen supply chain resilience, improve supplier performance, reduce risks, and handle complicated compliance requirements.
“The response from our target users has been overwhelmingly positive, and the numbers reflect the tangible impact Kodiak Hub is delivering,” she adds.
According to Schmidt, more than 250,000 suppliers across 20+ industries are being actively managed on the company’s platform, spanning 176 countries.
“Our users are experiencing significant improvements in efficiency and cost savings. On average, they report saving 7-10 per cent on their total spending—a substantial boost to their bottom line.
In addition to financial savings, the platform also helps automate Supplier Relationship Management (SRM) tasks and processes, saving users approximately 10 hours per week.
As per the company’s claims, supplier engagement has significantly improved, with a 90 per cent increase in interactions.
Moreover, the supplier onboarding process, which is essential yet often slow, is now 80 per cent faster compared to older methods, enabling businesses to grow more quickly and smoothly, claims Schmidt.
Navigated challenges in the supply chain industry as a female leader
In 2023, Malin Schmidt was named one of Sweden’s most important Female Founders 2023 by Di Digital.
Talking about navigating challenges in the supply chain industry, which is traditionally male-dominated, she says, “Navigating a career in Operations, Production, and Quality Assurance has provided me with unique insights into an industry where women leaders are still underrepresented.”
“Unlike some of the stereotypes or expectations placed on women leaders—whether that’s working in lifestyle, Femtech, or Health—I’ve focused on areas like production methods, management systems, and industrial innovation,” she continues.
However, Malin Schmidt’s major challenge was to break the bias of leadership shape in this industry.
“I don’t fit the mould of a “British boy band”-type CEO or the conventional archetype in this field, but I’ve leaned into my authenticity and skills to drive change and build credibility,” she adds.
“My advice is to embrace your distinctiveness and leverage it as a strength. Invest deeply in your expertise, build strong networks, and never shy away from tough decisions or challenges. Leadership isn’t about fitting a mould—it’s about creating solutions, fostering collaboration, and driving progress,” she concludes.
The investor
Oxx is a venture capital firm that partners with the most promising European B2B software companies at the scale-up stage.
As a specialist SaaS investor, Oxx provides each entrepreneur with a support system of unique specialist expertise and network, and a culture of unfaltering partnership and absolute conviction.
Ingrid Bonde Åkerlind, Principal, at Oxx, says, “As companies face increased pressure to meet regulatory and sustainability requirements, Kodiak Hub’s sophisticated analytics and AI-driven insights are uniquely positioned to enable procurement leaders to take a proactive approach in managing supplier quality, risk, and compliance. At Oxx, we seek out companies with the potential to lead new categories, and Kodiak Hub is a shining example of that ambition. Malin and her team have crafted a ‘data cockpit’ for strategic procurement leaders, essential in today’s landscape, and we are thrilled to partner with them on their journey to redefine Supplier Relationship Management.”
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