ChemDirect, the leading B2B online marketplace for specialty chemicals shipped directly from vetted suppliers, announced the closing of a Series A funding round led by Schneider. The financing will enable ChemDirect to grow its chemical marketplace, build out new logistics and payment technologies, and scale its go-to-market efforts.

The Series A round follows the recent launch of ChemDirect’s new payment platform, ChemPay, which offers negotiation-free payment terms, real-time logistics and flexible payment methods to simplify the buying process — so suppliers receive payments in days instead of many weeks.

“The chemical industry is a $6 trillion market that largely operates in a pre-digital fashion,” said Tyler Ellison, ChemDirect’s founder and CEO.

“Today’s supply chain chaos has created a unique opportunity for ChemDirect to disrupt traditional processes, increasing efficiencies like never before and creating a better overall experience for chemical buyers and sellers.”

Launched in 2020, ChemDirect was created to deliver significant time and cost savings for chemical buyers and sellers. With integrated logistics planning, credit terms and real-time inventory, ChemDirect makes chemical buying drastically easier than existing channels.

“We are encouraged by the efficiency ChemDirect brings chemical shippers and the industry,” said Shaleen Devgun, Schneider Executive Vice President and Chief Innovation and Technology Officer. “With over 500,000 products readily available online and real-time credit terms, ChemDirect is the competitive differentiator today’s chemical buyers need to navigate supply chain challenges successfully.”