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Tradeshift raises $240M and appears to put its expected IPO on hold — for now

The funding will be used to help accelerate its growth and, it says, set the company “on a direct path to profitability in the near future.”

That last line is telling, as the new funding comes in the context of what was widely held to be a window of opportunity for Tradeshift to head toward an IPO.

“The additional funding we’ve secured is a testament to the belief the investor community has in our vision and our business model,” said Christian Lanng, CEO of Tradeshift in the statement.

“As we reach the next phase in the maturity of our business, our focus for the coming year will be about doubling down in areas where we’re seeing the greatest momentum, while continuing to ensure we have the necessary balance in place to fully capitalize on the enormous opportunities in front of us,” he said.

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