# Professional Credentials Exchange

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/professional-credentials-exchange

- Industry: Internet
- Headquarters: Tampa, US
- Website: www.procredex.com
- Total disclosed funding: $3.5M
- Latest round: Seed (Mar 5, 2020)
- Investors on record: 4

## About

Professional Credentials Exchange is a company that focuses on automating credential management and incident case management solutions specifically for transportation firms, enhancing operational efficiency and compliance.Founded in 2018, Professional Credentials Exchange, headquartered in Tampa, US, specializes in credentialing solutions for the transportation sector. The company completed its first deal in March 2020, raising USD 3.5 mn in a Seed funding round led by Spectrum Health Ventures, with participation from Florida Funders, Martin Ventures, and The Hardenbergh Group, Inc. The current CEO is Anthony Begando.ProCredEx specializes in providing credentialing and incident case management solutions primarily for transportation companies. Their core offerings encompass a secure platform that automates credential management, allowing clients to store and manage documents and data effectively. This platform is designed to eliminate manual processes, significantly enhancing operational efficiency and reducing compliance-related burdens. By facilitating collaborative case management, ProCredEx enables users to access critical information in real-time, streamlining case adjudication and ensuring compliance reporting can be performed with minimal effort. The company serves a diverse client base, including transportation firms, regulatory bodies, and audit agencies across various geographical markets, including North America and Europe.ProCredEx operates on a subscription-based revenue model, where clients pay for ongoing access to its credentialing and incident case management services. Transactions typically involve direct partnerships with transportation companies, which subscribe to the platform to leverage its features for compliance management and document handling. The structure may include tiered pricing plans based on the size of the client organization and the volume of services utilized. ProCredEx’s flagship offering is its automated compliance report generation feature, which is pivotal for clients aiming to fulfill regulatory requirements efficiently. The revenue generated is closely tied to the value delivered through enhanced operational efficiencies and the elimination of redundant compliance tasks for its customers.In March 2020, Professional Credentials Exchange raised USD 3.5 mn in Seed funding led by Spectrum Health Ventures. The company plans to utilize this funding to enhance its product offerings and expand into new markets, particularly aiming to strengthen its presence in Europe and broaden its service capabilities by the end of 2021. The focus will be on developing new features that cater to evolving client needs in credential management and compliance.

## Funding rounds

- Seed, Mar 5, 2020, $3.5M — Martin Ventures, Spectrum Health Ventures, Florida Funders, The Hardenbergh Group, Inc.

## Investors

- Martin Ventures (https://capitalatlas.ai/funds/martin-ventures) — Seed
- Spectrum Health Ventures (https://capitalatlas.ai/funds/spectrum-health-ventures) — Seed
- Florida Funders (https://capitalatlas.ai/funds/florida-funders) — Seed
- The Hardenbergh Group, Inc. — Seed