Mercanis Raises $10M Series Seed Investment in Mission to Boost Further Savings for Procurement Teams
- The funding was led by Signals.VC, DI Technology, and Speedinvest.
- Mercanis enables more than 40% process cost savings through simplified procurement processes and was recently recognized as a Gartner® Cool Vendor™.
- Funding will be used for R&D, the AI-powered procurement platform, customer growth, and team expansion.
BERLIN, SUNNYVALE, Calif., Aug. 17, 2023 /PRNewswire/ -- Mercanis, a Berlin-based start-up announces the completion of its latest seed funding of $10M. The round was led by institutional funds such as Singals.VC, DI Technology, and Speedinvest. Successful entrepreneurs and well known angels such as Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana), Victor Jacobsson (Klarna) also played a significant role. Mercanis sets itself apart from competitors with its easy-to-use sourcing and supplier management tools. These tools leverage networking benefits and automated processes to save more than 40% of the costs.
Fabian Heinrich, CEO and Co-Founder of Mercanis stated: "We're immensely grateful for the trust shown in this funding round. It underscores the vital role of forward-thinking procurement software in today's economic landscape. In these challenging times marked by inflation and recession, Mercanis doesn't just facilitate growth. Our solution delivers cost and time efficiencies, while also offering a robust defense against risks for our clients."
Mercanis was founded in 2020 by Fabian Heinrich and Moritz Weiermann. By using data insights and Artificial Intelligence the startup strives to reshape how businesses make purchasing decisions and interact with service providers. Following the successful seed funding round, Mercanis plans to catalyze growth and innovation by using the investment for the core areas. The primary focus will be on product development, including further exploiting the potential of Artificial Intelligence (AI) within the Mercanis procurement suite. The software already uses large language models (LLMs) in contract analysis and autonomous sourcing. Beyond product innovation, a portion of the funding will be channeled towards expanding Go-to-Market strategies, with an aim to share more success stories and broaden the customer base.
Dr. Daniel Kirchleitner, General Partner signals.vc, affirmed:
"Given the macro challenges and the center stage role procurement is supposed to take today, there is no other software platform trying to solve this issue as they are. Not only with their combination of process automation, predictive analytics and AI, but more importantly with its suite approach, Mercanis delivers a unique compounded product value to its customers."
The current macroeconomic challenges as well as the inflation have added to the financial burden companies are carrying and make the implementation of revolutionary technologies even more crucial. Sven Novak, Director Global Indirect Procurement at Amer Sports, has noted how Mercanis' software brings efficiency and transparency to organizations, emphasizing that during times of crisis, it allows companies to scale capabilities in a lean manner. Mercanis is already a trusted partner for global giants like Linde, Wilson, Arcteryx, Hypoport, and prominent Mittelstand players such as weinor, Oventrop, Frutiger.
About Mercanis:
Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis has rapidly established itself as a leading procurement suite solution that specializes in sourcing and supplier management. Leveraging their expertise, the company serves a wide array of distinguished clients, including Linde, Wilson, Frutiger, and Hypoport. Mercanis aims to transform procurement by offering a comprehensive set of products emphasizing on four key areas: Spend Analytics, Sourcing & Request Events (RFx), Supplier Management (SRM), and Contract Management. This unique approach positions Mercanis at the forefront of digital procurement, enabling companies to reap significant savings through network effects and automation. Their innovative work is not only supported by well-known investors such as Plug and Play Tech Center, SpeedInvest, DI Technologies and Signals.vc, but has also recently earned recognition as a Gartner® Cool Vendor™.
Learn more about Mercanis:
Press contact:
Sofia Katsikis
Mercanis GmbH
Greifswalder Str. 208
10405 Berlin
press@mercanis.com
+49 (0) 17673501792
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SOURCE Mercanis
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