SaaS startups have become the darling of Venture Capital investors, especially in the Procurement industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.
In this article, we are examining 7 VC funded SaaS startups in the Procurement industry.
We at Archlet assist businesses in making quicker and better sourcing selections. In order to change the mostly manual and time-consuming strategic sourcing process as it is presently practiced, we believe in developing intuitive and intelligent software technologies.
DeepStream gives organizations the ability to manage all of their "Request For Anything" (RFP/RFI/RFQs, etc.) procedures in one location, enabling better and more transparent decision-making, automated processes, and lower transactional costs while assuring they select the best vendors. DeepStream is a multidisciplinary team of lifelong learners with experiences from a diverse variety of businesses, nations, and cultural backgrounds. It was founded in London, United Kingdom, in 2016. As a consequence, we bring new perspectives and open minds to a dated sector of the economy. We develop technology based on actual human behavior, challenging and overturning presumptions, rather than reproducing systems "because that's how it's generally done." DeepStream currently works with some of the top businesses worldwide across a variety of sectors and use cases, enabling them to empower their workforce globally to reach their full potential.
LevaData creates a supply management platform that aids in risk mitigation, cost containment, and quickening the creation of new products. The Cognitive Sourcing platform from LevaData uses artificial intelligence, corporate data, and market information to help enterprise sourcing teams discover opportunities and dangers. LevaData uses technologies designed specifically for speedy collaboration and prompt action to produce enhanced profits, reduce risk, drive new product velocity, and accomplish multi-tier supplier involvement.
In North America, 1.7 million RFPs with a total contract value of $750 billion are released annually by 95,000 local governments. For access to this job, the businesses that rely on it spend $56 billion USD annually on sales and marketing. They employ Ontopical, a prominent provider of marketing intelligence, to their benefit. Every week, our program scans and analyzes hundreds of municipal meeting agendas, minutes, and videos, giving customers the opportunity to forge important connections before suggestions are widely requested. Derrick Koenig, the CEO of the prior business, increased revenue to $5M and successfully exited. three months hence. Our next-generation machine learning system can automatically identify early signals of impending business possibilities for your company in 2022, allowing you to go in front of RFPs. We now monitor more than 15,000 towns.
Procol is a procurement platform for large enterprises to help monitor and reduce spend. It's the year 2020, and the world's largest spend taken place offline. We’re living in a world where we have Amazons. In contrast with the world of business purchases where 60% of the time is spent on cold calling, emailing, following-up, and even worse, a large number of transactional frauds happen on payments and deliveries. Resulting in ruined trust and suffered business relationships. In a market of trillion $ of business spend, Procol is building an all-in-one digital procurement platform — a single place for live auctions, collaboration, and intelligent insights. Backed by investors like Blume Ventures, Sequoia Surge, Beenext, and Rainmatter.
A SaaS CLM with a focus on big and medium-sized businesses in LATAM and the US is called Webdox. With a variety of features for the entire contract lifecycle, including contract request, contract drafting, validation, e-signature, contract execution, contract change management, contract repository, and reports, Webdox control automates and optimizes the entire contract lifecycle for all different types of contracts. The business was established in 2017 and has its main office in Chile's Region Metropolitana.
Yaydoo is a platform for automated vendor management that integrates cloud-based procure-to-pay software and AI capabilities. With a platform that integrates hundreds of vendor catalogs and enables businesses to search and compare through thousands of products and services, many of them with pre-negotiated discounts, as well as a virtual procurement assistant that streamlines communication between requesters and vendors, it aids businesses in automating their purchasing process and supply chain. Mobile apps that automate 3-way matching and streamline purchase requests, approval procedures, monitoring of goods receipts, and invoice approval provide its clients complete visibility and control over their workflows. Yaydoo gives every business the opportunity to optimize repetitive operations like updating vendor catalogs, comparing quotes, authorizing purchase requests, estimating demand, tracking deliveries, and managing budgets with an economical, user-friendly, and automated platform.