What is Procurify?
Procurify operates as an AI-enhanced procurement and AP automation platform, offering a comprehensive procure-to-pay ecosystem. The platform integrates essential business functions including purchase requests, approvals, expense management, and bill payments into a unified interface. By centralizing vendor management, contract oversight, and real-time budget tracking, Procurify enables mid-market enterprises to gain granular visibility into their operational expenditures. This technological stack is designed to replace fragmented manual processes with automated, data-driven workflows, thereby enhancing financial control and operational efficiency across the entire organization.
How much funding has Procurify raised?
Procurify has raised a total of $82.2M across 5 funding rounds:
Angel/Seed
$1.2M
Angel/Seed
$4M
Series A
$7M
Series C
$50M
Private Equity
$20M
Angel/Seed (2014): $1.2M with participation from Nexus Venture Partners
Angel/Seed (2015): $4M led by Business Development Bank of Canada, Point Nine, and Nexus Venture Partners
Series A (2016): $7M supported by Nexus Venture Partners, Business Development Bank of Canada, Runa Capital, and Point Nine
Series C (2023): $50M featuring Export Development Canada and Ten Coves Capital
Private Equity (2024): $20M backed by CIBC INNOVATION BANKING
Key Investors in Procurify
Nexus Venture Partners
A venture capital firm specializing in seed, startup, and growth capital investments, providing foundational support for early-stage technology ventures.
Business Development Bank of Canada
A financial institution focused on providing consulting and capital services to small and medium-sized businesses, with a specific emphasis on technology and export-oriented growth.
Point Nine
A specialized seed-stage venture capital firm that focuses exclusively on B2B SaaS and B2B marketplace business models.
What's next for Procurify?
With the successful completion of this major strategic investment, Procurify is well-positioned to accelerate its product roadmap and expand its footprint in the competitive B2B SaaS landscape. The company is expected to prioritize the integration of advanced artificial intelligence to further automate invoice processing and predictive spend analytics. As the firm transitions from its earlier growth phases into a more mature enterprise-level operation, the focus will likely shift toward scaling its global sales infrastructure and deepening its ecosystem of financial service integrations. This capital deployment will be instrumental in maintaining its competitive edge against legacy procurement systems while addressing the evolving needs of finance teams seeking greater agility and transparency in their procurement cycles.
See full Procurify company page
