Vancouver’s Procurify announced today that it has closed $26 million in a Series B funding round.
The Series B round was led by Toronto-based Information Venture Partners and saw participation from BC Tech Fund managed by Kensington Capital, HarbourVest Partners, Manulife, as well as return investor Palo Alto-based Runa Capital.
Founded by CEO Aman Mann, CTO Eugene Dong and CRO Kenneth LoI, Procurify is a SaaS-based spend management solution.
According to today’s announcement, Procurify has over $7 billion of its clients’ spend management passing through its platform annually and will use the funds to continue to grow a customer-centric team and to continue to scale the company through a number of sales and marketing initiatives.
Aman Mann, Co-founder and CEO of Procurify commented “The way organizations are managing their spend has evolved and changed throughout the years, and the landscape of business tools need to keep up with that evolution. We are so grateful to embrace the next stage of Procurify, and to have some of the top investors and leaders in U.S & Canada believe and support our mission of reinventing the way organizations spend, to transform the Spend Cultures of businesses around the world for the better.”
Eric Bin, former Director of Product at legal practice management software company, Clio and Simon Stanlake former CTO of Hootsuite recently joined the company as VP of Product and SVP of Engineering respectively to double down on Procurify’s development and engineering.