Softbank leads $75M investment in B2B tech startup Reibus to revolutionize the metals supply chain ecosystem

Reibus, a provider of B2B e-commerce platform for the industrial metals market, has raised $75M in Series B funding led by SoftBank Vision Fund 2. This investment brings Reibus’ total funding to over $100 million and a valuation of $750 million.

Other backers in this round include Canaan Partners, Nosara Capital, Battery Ventures, Bowery Capital, Initialized Capital, and FJ Labs. Reibus will use the funding proceeds to expand its marketplace and mobile app tools and services, accelerate new financial and logistical products, and grow its European business with a new dedicated team and resources. This latest funding round comes as Reibus enjoys its third year, and its strongest year yet, with revenue up more than 7x over 2020.

Founded in 2018 by CEO John Armstrong, David Bain, and J Paul Carrodus, the Atlanta, Georgia-based Reibus provides a truly independent online B2B marketplace for prime and excess materials used in industrial markets. The company uses its deep industry knowledge to revolutionize supply chain efficiency by shortening lead times, reducing inventory, and streamlining finance and freight services.

Commenting on the funding, Andrew Straub, Investment Director at SoftBank Investor Advisers, said: “Industrial materials such as steel and aluminium is a $2tn market globally but remains highly fragmented, which can create supply chain disruptions and price volatility.” Straub added, “We believe that Reibus is helping to solve this challenge with its independent, SaaS-enabled marketplace, which provides greater transparency and flexibility to buyers and sellers alike. We are delighted to be partnering with John Armstrong and the team to support its goal to revolutionize supply chain efficiency.”

For example, Reibus’platform is designed to help sellers maximize price performance, minimize time to market, expand market reach and reduce sales and marketing-related expenses as compared to traditional methods. Reibus’ marketplace increases selection and market transparency for buyers, while reducing the time and investment required to search for, identify, evaluate and procure materials.

“We’re excited to add SoftBank Investment Advisers to our team of world-class investors,” said John Armstrong, Founder and CEO of Reibus. “Reibus offers great solutions to longstanding problems, however, it is our team that is the real secret to our success. We hire people who live our culture every day. We give them the freedom and authority to succeed, creating a shared vision and a great place to work.”