# Provade

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/provade

- Industry: Software
- Headquarters: San Mateo, US
- Website: www.provade.com
- Total disclosed funding: $12M
- Latest round: Series F (Aug 3, 2010)
- Investors on record: 3

## About

Provade specializes in optimizing supplier and workforce management solutions through its vendor management system (VMS), enhancing operational efficiency and compliance for organizations.Founded in 2004, Provade operates from San Mateo, US, focusing on workforce management solutions. The company was acquired by Pinnacle Technical Resources in October 2011, expanding its operational capabilities. Provade has executed five deals and most recently raised USD 3.00 mn in a Series F funding round, led by Asset Management Ventures, contributing to a total of USD 3.00 mn raised and a current valuation of USD 12.556 mn.Provade.com provides comprehensive managed services specializing in optimizing supplier and workforce management solutions. Their robust vendor management system (VMS) streamlines the procurement of contingent labor and services, enhancing operational efficiency and compliance. The platform supports businesses in managing relationships with contingent workers, facilitating sourcing, tracking, and payments. Provade serves various sectors including technology, healthcare, and manufacturing, with a focus on the North American and European markets, addressing critical challenges like cost control and regulatory compliance.Provade.com generates revenue primarily through a subscription-based model, offering clients access to their vendor management system via tailored pricing tiers. This involves establishing recurring partnerships with clients, often through annual contracts that detail specific services. In addition to subscription fees, revenue is augmented by value-added services such as training and system customization, with the flagship VMS platform playing a central role in workforce management.Moving forward, Provade plans to enhance its offerings by developing new features for its vendor management system, although specific release dates have not been disclosed. The company aims to expand its market presence, particularly targeting growth in European regions by 2025. The capital raised in the latest funding round will be strategically allocated to support these initiatives, focusing on product development and market expansion.

## Funding rounds

- Series F, Aug 3, 2010, $3M — Altos Ventures, Asset Management Ventures, Harbor Pacific Capital
- Series C, Sep 1, 2006, $5.2M — Altos Ventures
- Series A, Jan 23, 2006, $4M — Altos Ventures

## Investors

- Altos Ventures (https://capitalatlas.ai/funds/altos-ventures) — Series A, Series C, Series F
- Asset Management Ventures (https://capitalatlas.ai/funds/asset-management-ventures) — Series F
- Harbor Pacific Capital (https://capitalatlas.ai/funds/harbor-pacific-capital) — Series F