Altana AI, a New York-based supply chain management startup, has successfully secured a $200 million Series C investment, achieving a valuation of $1 billion and marking its entry into unicorn status.

The funding round was led by Thomas Tull's US Innovative Technology Fund, with notable participation from March Capital, Salesforce Ventures, GV, and Activate Capital.

Founded in 2019, Altana has raised a total of $322 million, following a previous $100 million Series B funding round in 2022 that valued the company at $430 million.

This investment comes amid growing interest in AI and the complexities of global supply chains, particularly influenced by U.S.-China relations and evolving climate change regulations.

Evan Smith, co-founder and CEO of Altana, emphasized the need for a new approach to managing global business, moving away from unrestrained outsourcing in light of current global challenges.

Smith also highlighted the importance of a centralized map of the supply chain to help companies navigate economic and geopolitical trends.

Altana's platform utilizes generative AI, enabling users to ask supply chain questions in plain English while predicting risks and vulnerabilities.

The platform combines public and client-provided data to create a comprehensive view of the supply chain, employing a technique known as 'federated learning' to safeguard proprietary information.

Altana also assists companies in identifying suppliers linked to forced labor, aligning with stricter global compliance regulations.

The company has already influenced significant business decisions for clients, including major firms like Maersk and L.L. Bean, as well as U.S. government agencies.

Thomas Tull has been actively investing in AI and technology startups, leading multiple high-profile funding rounds this year, including significant investments in other tech ventures.