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Companies in Procurement IT
There are 1,448 companies in Procurement IT which include Coupa, Sage Group, Taulia, Tipalti, Mintifi. 439 companies in Procurement IT are funded, with 245 having secured Series A funding. Till date, the sector has seen the creation of 7 Unicorns. United States has the most number of companies in Procurement IT (421), followed by India
(194), and then United Kingdom (132).
On average, the last 10 years have seen 72 new companies launched every year. Most number of Procurement IT startups have been founded by alumni from Stanford University, University of California (Berkeley) and Harvard University.
Here is a List of top companies in Procurement IT
1. Coupa
Cloud-based end-to-end spend management software for businesses. Its features solutions for spending management, procurement invoice automation, sourcing, travel and expense management, inventory optimization, contract management, spend analysis, data visualization, payment automation, compliance, and supplier management. It caters to multiple sectors like healthcare, hospitality, life sciences, and manufacturing.
Key facts about Coupa
- Founded Year: 2006
- Location: San Mateo (United States)
- Stage: Acquired
- Total Funding till date: $169M
- Investors: Meritech, T. Rowe Price and 17 Others
- Latest Funding Round: Post IPO, Jun 11, 2020, $1.2B
- Tracxn Score: 83/100 What is this?
- Competitors Rank: 1 of 606 Competitors
2. Sage Group
Cloud-based accounting and payroll solutions for small and medium businesses. It provides enterprise resource planning, payments, customer relationship management, mobility, human resources, payroll administration, and business intelligence solutions. It also offers tools for performance management, leave management, performance management and more.
Key facts about Sage Group
- Founded Year: 1981
- Location: Newcastle Upon Tyne (United Kingdom)
- Stage: Public
- Investors: AL Nour International Holdings, DAS42 and 43 Others
- Latest Funding Round: Post IPO, Dec 16, 2019, $92.7K
- Tracxn Score: 80/100 What is this?
- Competitors Rank: 2 of 2,712 Competitors
3. Taulia
AI-based electronic invoicing and supply chain management solution for businesses. It features solutions to provide dynamic discounting, supply chain finance, cash forecasting, invoice automation, supplier management, and more. It offers a web-based invoice management solution that allows you to choose an early payment option using their working capital or third-party funds.
Key facts about Taulia
- Founded Year: 2009
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $220M
- Investors: Trinity Ventures, Matrix and 25 Others
- Latest Funding Round: Conventional Debt, Mar 11, 2021, $6B
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 527 Competitors
4. Tipalti
Cloud-based procurement and invoice management solutions for businesses. The company offers solutions such as financial and compliance risk, PO matching, VAT compliance, payment reconciliation, automated TAX complaince, corporate cards, expense management, procurement, ERP integrations, and more.
Key facts about Tipalti
- Founded Year: 2010
- Location: Foster City (United States)
- Stage: Series F
- Total Funding till date: $553M
- Investors: Zeev Ventures, G Squared and 19 Others
- Latest Funding Round: Conventional Debt, May 15, 2023, $150M
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 7 of 512 Competitors
5. Mintifi
Provider of inventory financing solutions for SMEs. It offers various financing options, including on-demand credit lines and short-term working capital loans, to help businesses manage their inventory and cash flow more effectively. The platform facilitates faster inventory churn and higher sales by providing access to purchase credit lines. It also offers invoice processing and payment solutions to streamline the order-to-cash cycle. A key feature is WhatsApp banking, enabling clients to manage their accounts and make payments conveniently. The company emphasizes transparent pricing and flexible repayment options.
Key facts about Mintifi
- Founded Year: 2017
- Location: Mumbai (India)
- Stage: Series E
- Total Funding till date: $270M
- Investors: Norwest Venture Partners, IFC and 8 Others
- Latest Funding Round: Series E, Nov 15, 2024, $100M
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 1 of 11 Competitors