Procurify Technologies

Procurify Technologies Inc. offers a robust platform for procurement and accounts payable management. Founded in 2013 in Vancouver, Canada, by Kenneth Loi, the company has executed a total of 8 deals.Procurify offers an AI-powered procure-to-pay (P2P) platform designed to streamline procurement, accounts payable (AP), expense management, and payment processes, primarily targeting mid-market companies across various industries. The platform provides comprehensive tools for automating workflows, from requisition submissions to purchase order management, enabling full visibility and control over organizational spending. Key functionalities include automated invoice processing, budget management, and real-time reporting, which allow users to optimize cash flow and enhance financial discipline. Procurify's client base spans multiple sectors, including technology, healthcare, manufacturing, and nonprofit organizations, enabling them to consolidate purchasing and AP in a single system.Procurify generates revenue through a subscription-based model, offering its clients tiered pricing plans for access to its P2P platform. Clients typically engage with the company under contractual agreements that outline the specific services and features included in their subscriptions. The transactions between Procurify and its clients revolve around the provision of software solutions that enhance procurement efficiency and financial oversight. Clients utilize the platform to manage their spending through features such as expense requisitions and Spending Cards, which facilitate seamless procurement and expense management. Specific pricing structures are aligned with the extent of services provided, potentially including enterprise solutions aimed at larger organizations seeking advanced procurement capabilities.In October 2024, Procurify Technologies Inc. The company will use these funds to innovate in procurement solutions, focused on improving efficiency and transparency in corporate spending. Plans for future growth include the development of new products designed to further enhance their platform's capabilities and potential expansion into additional markets and geographic regions, including deeper penetration in Europe and strategic areas in Asia-Pacific, by the end of 2025.

1. Series C

   Oct 17, 2023

   Amount

   $68M

   Investors

   Locked

2. Series B

   Jun 20, 2019

   Amount

   $15M

   Investors

   Locked

3. Series A

   Nov 15, 2016

   Amount

   $7M

   Investors

   Locked

4. Seed

   Jul 23, 2015

   Amount

   $4M

   Investors

   Locked

5. Seed

   Apr 16, 2014

   Amount

   $1.2M

   Investors

   Locked

6. Seed

   Mar 4, 2013

   Amount

   $0.1M

   Investors

   Locked