Procurify Closes $4 Million Seed Investment from Nexus Venture Partners, Point Nine Capital, and BDC
VANCOUVER, British Columbia, July 23, 2015 /PRNewswire/ -- Procurify, a software as a service (SaaS) startup offering purchasing software to small- and medium-sized businesses, is announcing the closing of US $4 million in seed funding from Point Nine Capital, Nexus Venture Partners and the Business Development Bank of Canada (BDC).
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Ryan Holmes and Steve Johnson, CEO and chief revenue officer of Hootsuite, a leading social media management platform and a Procurify client, are joining this investment round and becoming advisors of the Procurify team.
Procurify will use this funding to further investment into sales, marketing and product development.
Procurify saves companies time and money via its mobile and cloud-based purchasing platform used to manage company spending while providing complete control and visibility of where company money is going in real-time, using easy to generate reports.
Sue Yoon, VP of finance at AltSchool, a Procurify client, said: "Since implementing Procurify, 50% of all purchasing is becoming standardized, saving our educators an hour per week of their time … In addition, all teacher procurement came in this past school year under budget."
Christoph Janz, managing partner at Point Nine Capital has been involved in early stage investments with successful startups such as Zendesk, Clio and Geckoboard.
Janz said, "We know and love the SaaS space. Procurify is positioned to become the market-leading SaaS platform for purchasing and is doing for that industry what Salesforce.com did for customer relationship management (CRM) and Zendesk did for customer service."
Jishnu Bhattacharjee, managing director at Nexus Venture Partners said, "Procurify is re-imagining enterprise spend management for the mobile era. Their elegantly simple solution is being adopted at a rapid pace by companies across the world. We are thrilled to be partnering with the Procurify team to help build a great company."
Procurify is on track to process over half a billion dollars in purchase orders on its platform this year.
Learn more at www.procurify.com
CEO, Aman Mann is available for interviews and photos. Press contact: Brittany Whitmore (Mobile: 778-238-6096, Email: Email)
About Procurify
Procurify is a fully-featured, cloud-based purchasing platform used to manage both direct and indirect company spending. Procurify provides control and visibility of where company money is going in real-time, using simple-to-generate reports and analytics. Procurify is dedicated to simple, innovative, sustainable and cost-effective enterprise solutions.
Media Contact: Brittany Whitmore
Phone: 1-888-463-5254
Mobile: 1-778-238-6096
Email: Email
SOURCE Procurify
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