Our investment in Silkline

Modern operating system for B2B procurement

We are excited to announce that Matchstick Ventures Fund III has completed an investment in Silkline. Silkline is a modern operating system for B2B procurement, organizing communication with suppliers to deliver a more connected supply base.

Every year, $44.5 trillion in goods are manufactured across the world’s 10 million factories. But for many companies, and despite advancements in technology, coordinating with suppliers and tracking the status of purchase orders of those goods is a chaotic and manual process that relies on disconnected systems and fragmented data. This results in higher costs, unpredictable disruptions, and too much time spent following up with suppliers — all of which have a significant impact on supply chains.

But over the past several years, increasing supply volatility has motivated companies to invest in solutions that provide better supply chain and procurement visibility. Alongside the widespread adoption of cloud technology as well as advancements in AI, several technology enablers are paving the way to unify the systems and data that have made it challenging to build more connected supply chains.

Silkline is building the modern operating system for B2B procurement to help companies better connect with their trading partners and create more efficient, resilient, and sustainable supply chains. Silkline acts like a CRM to organize communication with suppliers in one place and automate milestone tracking of purchase orders. 

They work in tandem with their customer’s existing systems and data and don’t require any training, adoption, or integration from suppliers. They achieve this by sitting in the communications channels companies already use to talk with their suppliers and require no workflow changes on the suppliers’ part. Because of this, they can work with every supplier instantly, using the tools the suppliers are already used to and comfortable working on. 

Their founders, Isaac, a three-time founder who started his career focusing on supply chain and manufacturing operations for the aerospace and defense sector, and Brent, a full-stack engineer specializing in data pipelines and integration, are drawn to industries that are often overlooked by entrepreneurs and VCs. After being introduced to them through another, later-stage investor, and spending time getting to know them over calls as well as an in-person meeting, we are excited to join them in this opportunity.

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Ryan Broshar
August 5, 2023