Canada-based Procurify offers a cloud-based purchasing management platform that supports the end-to-end procurement process from the creation of purchase orders and matching invoices to approvals and making payments. Procurify's modules cover purchase order management, vendor relationship building, streamlined receiving, insightful reporting, and seamless integrations with ERP and accounting systems, promoting efficiency and financial discipline. Procurify follows a subscription-based SaaS model.
Key customers and partnerships
Procurify has 100+ customers globally as of April 2024. Its customers include HyperFiber, Block Energy, Community Youth Ministries, Texas Rocket Engineering Lab, SkipTheDishes, Vow, Cabify, Atlantech, Inari Medical, and Proudfoot.
The platform offers integrations with financial software such as QuickBooks, NetSuite, and Amazon Business PunchOut. In October 2023, the company also partnered with Olive Technologies, a provider of AI-based decision-making solutions, to introduce streamlined and innovative processes in vendor sourcing and procurement.
Funding and financials
As of August 2023, the platform managed over USD 30 billion in annual organizational spending. The company reportedly generated annual revenues of around USD 5.5 million as of July 2019, at which point it managed around USD 7 billion in annual spending.
In October 2023, Procurify raised USD 50 million in Series C funding led by Ten Coves Capital to expand globally, launch new payment capabilities, and enhance the AI-powered procure-to-pay experience for customers.
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