Tropic Technologies
Latest round
- Series B
Last raised
- Feb 2022
Total raised
- $67M
Investors
- 4
About Tropic Technologies
Tropic Technologies, Inc.Founded in 2019 and headquartered in New York, US, Tropic Technologies offers a platform designed to optimize procurement processes.Tropic offers an intelligent spend management platform designed to streamline procurement processes and enhance supplier management through advanced AI capabilities. The core functionality includes centralizing supplier contracts and documents, automating administrative tasks, and providing insights into overspend and shadow spend. Users benefit from features such as spend forecasting, contract management, and compliance checks, which enable organizations to maintain adherence to spending policies and avoid unnecessary expenditures.B. Snodgrass, CPA.Tropic generates revenue primarily through subscription-based pricing models for its AI spend management platform. Clients engage with the company under flexible agreements that facilitate access to its suite of features, including supplier intelligence, contract management, and negotiation insights. While specific pricing details are not publicly disclosed, these transactions typically involve annual or multi-year contracts, which provide clients with comprehensive support and access to Tropic's robust dataset. The company's flagship offerings, such as the Compliance Copilot and Contract Intelligence Engine, play a critical role in delivering value to clients by automating key procurement functions and improving cost management. Tropic is set to launch four new software modules within the next two quarters, and it aims to penetrate additional markets to increase its footprint in the procurement technology space.
Who invested in Tropic Technologies
4 investors across 3 rounds
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Questions about Tropic Technologies
Who invested in Tropic Technologies?
Tropic Technologies has 4 investors on record across 3 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Tropic Technologies raised?
Tropic Technologies has raised 3 venture rounds. Sign up free to see how much each round raised and the total.
When did Tropic Technologies last raise money?
Tropic Technologies's most recent round on record is a Series B, in Feb 2022.
What does Tropic Technologies do?
Tropic Technologies is a software company.
Where is Tropic Technologies headquartered?
Tropic Technologies is headquartered in New York, US.
Which VCs invest in companies like Tropic Technologies?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Tropic Technologies's stage. Their profiles are linked below.
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