# Keelvar Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/keelvar-systems

- Industry: Software
- Headquarters: Cork, Ireland
- Website: www.keelvar.com
- Total disclosed funding: $43M
- Latest round: Series B (May 16, 2022)
- Investors on record: 7

## About

Keelvar Systems Ltd. provides advanced strategic sourcing software solutions that enhance procurement processes for a diverse range of industries, facilitating improved efficiency and supplier management.Founded in 2012 in Cork, Ireland, Keelvar specializes in procurement software solutions. The company has completed 4 deals, with its most recent Series B funding round raising USD 24.00 mn on May 16, 2022, led by 83 North with participation from Elephant, Mosaic Ventures, and SquareOne. The company's CEO and founder, Alan Holland, has been instrumental in driving its vision and operations.Keelvar specializes in strategic sourcing software solutions designed to enhance procurement processes across various industries. The company's core offerings include the Sourcing Optimizer, which streamlines spend optimization, and Autonomous Sourcing, which automates sourcing activities to improve efficiency. Their Rate Manager tool provides real-time management and monitoring of supplier rates, empowering users to make data-driven decisions. Keelvar’s products cater to businesses of all sizes, enabling them to handle large tenders, automate procurement tasks, and foster better supplier relationships. Their solutions are utilized by notable clients such as Siemens, Coca-Cola, and Samsung, and are available in multiple geographic markets, including North America, Europe, and Asia.Keelvar generates revenue primarily through a subscription model for its sourcing software solutions. Clients engage in B2B transactions, where they pay for access to the platform and its various functionalities tailored to their specific sourcing needs. The pricing structure includes tiered subscription plans based on the features and scale of use, enabling companies to select packages that align with their operational requirements. Key products, such as the Sourcing Optimizer and Autonomous Sourcing, are central to the company's offerings, facilitating improvements in sourcing outcomes for their clientele. This revenue model allows Keelvar to maintain a steady income stream while supporting its clients in optimizing procurement and sourcing strategies.Following the recent Series B funding round, where Keelvar raised USD 24.00 mn in May 2022, the company plans to utilize these funds to expand its business reach in the United States. This expansion is considered crucial for scaling its operations and enhancing its service offerings to meet the demands of the market.

## Funding rounds

- Series B, May 16, 2022, $24M — SquareOne, 83 North, Mosaic Ventures, Elephant
- Series A, Jun 4, 2020, $18M — SquareOne, Mosaic Ventures, Elephant
- Seed, Aug 1, 2012, $0.9M — ACT Venture Capital, Enterprise Ireland, Enterprise Equity Venture Capital

## Investors

- ACT Venture Capital (https://capitalatlas.ai/funds/act-venture-capital) — Seed
- Enterprise Ireland (https://capitalatlas.ai/funds/enterprise-ireland) — Seed
- Enterprise Equity Venture Capital (https://capitalatlas.ai/funds/enterprise-equity-venture-capital) — Seed
- SquareOne (https://capitalatlas.ai/funds/squareone) — Series A, Series B
- Mosaic Ventures (https://capitalatlas.ai/funds/mosaic-ventures) — Series A, Series B
- Elephant (https://capitalatlas.ai/funds/elephant) — Series A, Series B
- 83 North (https://capitalatlas.ai/funds/83-north) — Series B