What is Procurated?
Procurated operates a specialized platform designed to revolutionize procurement decisions within the public and nonprofit sectors. The company has cultivated a network that aggregates verified reviews and insights from procurement officials across government agencies, educational institutions, and nonprofit organizations. This creates a vital collaborative knowledge base, addressing a critical gap in supplier evaluation processes. The platform empowers purchasing professionals to access authentic peer experiences and performance data, thereby enhancing vendor selection and supplier relationship management. By centralizing verified feedback from practitioners facing similar operational challenges and budget constraints, Procurated enables organizations to move beyond traditional, often limited, vendor selection methods. This data-driven approach significantly mitigates procurement risk by allowing decision-makers to leverage the real-world experiences of their counterparts in comparable purchasing scenarios. Procurated's technology infrastructure ensures the integrity and relevance of all reviews and recommendations, which originate from verified procurement professionals.
How much funding has Procurated raised?
Procurated has raised a total of $12.5M across 2 funding rounds:
Angel/Seed
$2.5M
Series A
$10M
Angel/Seed (2019): $2.5M with participation from MayFive Holdings, Inc. and Limerick Hill LLC
Series A (2021): $10M led by Tribeca Venture Partners, Limerick Hill, Greycroft Partners, and TDF Ventures
Key Investors in Procurated
Tribeca Venture Partners
Tribeca Venture Partners is a multi-stage venture capital firm based in New York that partners with entrepreneurs to leverage emerging technologies and innovative business models. The firm is dedicated to supporting gritty and determined founders in building category-defining companies.
Greycroft Partners
Greycroft is a leading venture capital firm focused on investments in the Internet and mobile markets. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, bring their products to market, and build successful businesses.
TDF Ventures
Founded in 2004 and headquartered in Chevy Chase, Maryland, TDF Ventures is an early stage venture capital firm with offices in Washington DC and Silicon Valley. Focusing on startups that serve enterprise markets within infrastructure, software, and services (IaaS, SaaS, XaaS).
What's next for Procurated?
The recent major strategic investment signals a phase of accelerated growth and market penetration for Procurated. With substantial capital infusion, the company is poised to expand its platform's reach, enhance its data analytics capabilities, and further solidify its position as a leader in procurement intelligence for the public and nonprofit sectors. Future developments will likely focus on deepening the network's engagement and integrating advanced tools to streamline the complex purchasing requirements faced by its user base.
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