Procurify has received $1.2 million in seed funding. The investors included Nexus Venture Partners, Mark Cuban and the Business Development Bank of Canada. Based in Vancouver, British Columbia, Procurify is a cloud procurement software company.
Vancouver, B.C. – Procurify, an international cloud procurement software firm headquartered in Vancouver, has closed a $1.2 million seed round of funding from top-tier, international investors: India- and Silicon Valley-based Nexus Venture Partners, Mark Cuban (owner of the NBA’s Dallas Mavericks franchise), and the Business Development Bank of Canada (BDC). This seed funding will set the 22-person team up to continue developing new features, growing their team and increase their worldwide customer base.
“This investment gives us the opportunity to expand both the web and mobile platforms and bring Procurify to new heights,” said Eugene Dong, co-founder and CTO of Procurify.
Ankur Jain, investor at Nexus Venture Partners said: “Businesses today are looking for simplicity without compromising agility. Procurify takes a fresh look at procurement and makes it very simple.”
In the past year Procurify’s user base has grown to include clients in more than 40 countries worldwide, and the team has more than doubled in size to support this growth. This user base includes high profile clients such as Hootsuite, a leading social media management platform, and Katz Media, which represents about 4,000 radio stations and 500 TV and digital multicast stations throughout the U.S.
Luke Williams of Young Living Europe, another international Procurify client that specializes in essential oils and wellness products, said during implementation and training that “[Procurify] is so easy to use, I’m not quite sure what else you could teach me.”
Aman Mann, co-founder and CEO said: “Procurify is a small, young group of entrepreneurs with a big dream. We are taking our platform to a global level with this investment and working with clients ranging from small businesses to Fortune 1000 companies. Procurify is used in industry verticals that range from technology to manufacturing to service and beyond. We are revolutionizing the enterprise software space by bringing consumer-style usability, design and simplicity to business software. We want to give people tools they love to use, to help them discover true passion and inspiration in the work that they use them for.”
To learn more about Procurify, visit www.procurify.com
CEO, Aman Mann is available for interviews and photos. For all press inquiries please contact Brittany Whitmore, Procurify’s Director of Communications: (Mobile: 778-238-6096, Email: Brittany@Procurify.com)
Procurify is a fully-featured, cloud-based procurement software solution that can be used to manage both direct and indirect company spending, while providing control and visibility of where company money is going in real-time, using simple-to-generate reports and analytics. Procurify.com is a trusted global technology brand, dedicated to simple, innovative, sustainable and cost-effective enterprise solutions. Learn more: www.procurify.com
About Nexus Venture Partners
Nexus Venture Partners (www.nexusvp.com) is India’s most successful venture capital fund, with offices in Silicon Valley and India. Nexus’ team consists of entrepreneurs who have founded and scaled large global companies. The team has invested in a variety of companies leading to numerous successful public offerings and M&A transactions. It has over $700M under management with an active portfolio of over 50 companies across Technology, Internet, Media, Consumer and Business Services sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market-leading businesses. Nexus investments include Cloud.com (acquired by Citrix), Gluster (acquired by Red Hat), Pubmatic, DimDim (acquired by Salesforce), Kaltura, Druva, Aryaka,Snapdeal.com and Netmagic (acquired by NTT).