ChemDirect, which has become one of TitletownTech’s studio companies, is building a technology marketplace to connect chemical manufacturers directly with customers.
“ChemDirect makes a great addition to the TitletownTech community. The need for speed, service, and transparency in the chemical industry is a challenge that ChemDirect is meeting head on, and their value has been further amplified by the COVID-19 environment,” said Jill Enos, TitletownTech managing director. “The team brings great energy into TitletownTech, and we are excited to help accelerate their success in the market.”
Tyler Ellison created ChemDirect in 2019 after noticing industry challenges while he was the CEO of Nova Molecular Technologies, a specialties chemical manufacturer. He saw manufacturers did not own their customer data and that customers had to purchase chemicals from distributors. Those challenges meant the industry lacked transparency, impacting both supply and demand.
To create more transparency in the industry, Ellison created an innovative e-commerce solution that removes the barrier between producer and consumer, while taking the typical 20-week supply chain down to one.
“Solving big problems leads to large value creation. Digitizing supply and demand will usher in a new era of transparency, resulting in informed decisions, better economics and optionality for both manufacturers and buyers,” he said.
TitletownTech was originally created by the Green Bay Packers and Microsoft, but has since added other investors in its venture fund.