Bengaluru: Nexus Venture Partners, a California headquartered VC firm along with Point Nine Capital and the Business Development Bank of Canada have poured in $4 million in Software-as-a-Service startup Procurify. With the funds, Procurify plans to increase the efficiency of its sales, marketing and product development in order to support its aggressive business expansion plans. Steve Johnson, CEO & Chief Revenue Officer of Hootsuite and Ryan Holmes also participated in the round and will act as the advisors for the Procurify team.
Established in 2012 by British Columbia Institute of Technology alumni – Aman Mann, Kenneth Loi and Eugene Dong, Procurify’s affordable software solutions help the companies to save their time and money through its mobile and cloud-based purchasing platform which manages the company spending, while simultaneously providing complete visibility of the financial transactions. It also assists the companies in generating the reports of their spending.
The three year old startup claims to have its clients in 58 countries and had earlier raised $1.2 million from BDC Venture Capital and Nexus Venture Partners, and an undisclosed amount from Highline VC in April 2014 and November 2012 respectively.