About BuyerQuest
BuyerQuest is a company based in Cleveland (United States) founded in 2011 was acquired by The ODP in February 2021.. BuyerQuest has raised $15.4 million across 5 funding rounds from investors including Western Alliance Bank, The ODP and Argentum Group. The company has 28 employees as of December 31, 2022. BuyerQuest offers products and services including eProcurement Platform and Varis Suppliers. BuyerQuest operates in a competitive market with competitors including Tipalti, Sage Group, Coupa, MineralTree and Airbase, among others.
- Headquarter Cleveland, United States
- Employees 28 as on 31 Dec, 2022
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Buyerquest, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$15.4 M (USD)
in 5 rounds
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Latest Funding Round
$3 M (USD), Series A
Jun 16, 2017
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Investors
Western Alliance Bank
& 3 more
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Employee Count
28
as on Dec 31, 2022
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Acquired by
The ODP
(Feb 18, 2021)
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Products & Services of BuyerQuest
BuyerQuest offers a comprehensive portfolio of products and services, including eProcurement Platform and Varis Suppliers. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for managing supplier catalogs and business purchases
Network for connecting high-quality B2B suppliers
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Funding Insights of BuyerQuest
BuyerQuest has successfully raised a total of $15.4M across 5 strategic funding rounds. The most recent funding activity was a Series A round of $3 million completed in June 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series A — $3.0M
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First Round
First Round
(01 Jan 2012)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2017 | Amount | Series A - BuyerQuest | Valuation |
investors |
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| Feb, 2017 | Amount | Debt – Conventional - BuyerQuest | Valuation |
investors |
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| Sep, 2015 | Amount | Series A - BuyerQuest | Valuation | Argentum Group |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in BuyerQuest
BuyerQuest has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include Western Alliance Bank, The ODP and Argentum Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Multiple sectors are invested in by the private equity firm.
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Founded Year | Domain | Location | |
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Venture capital and transaction advisory services for B2B tech companies.
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Founded Year | Domain | Location | |
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Commercial banking services, including loans and treasury management, are provided.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by BuyerQuest
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - BuyerQuest
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Buyerquest Comparisons
Competitors of BuyerQuest
BuyerQuest operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tipalti, Sage Group, Coupa, MineralTree and Airbase, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based procurement and invoice management solutions are offered to businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payroll solutions for small and medium businesses
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| domain | founded_year | HQ Location |
Cloud-based end-to-end spend management software is delivered for businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounts payable automation is delivered for businesses.
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| domain | founded_year | HQ Location |
Procure-to-pay management software is offered for business operations.
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| domain | founded_year | HQ Location |
Corporate cards and expense management are offered to businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Buyerquest
Frequently Asked Questions about BuyerQuest
When was BuyerQuest founded?
BuyerQuest was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Where is BuyerQuest located?
BuyerQuest is headquartered in Cleveland, United States. It is registered at Cleveland, Ohio, United States.
Is BuyerQuest a funded company?
BuyerQuest is a funded company, having raised a total of $15.4M across 5 funding rounds to date. The company's 1st funding round was a Series A of $7.4M, raised on Jan 01, 2012.
How many employees does BuyerQuest have?
As of Dec 31, 2022, the latest employee count at BuyerQuest is 28.
What does BuyerQuest do?
Founded in 2011 and based in Cleveland, United States, BuyerQuest operates in the software sector focused on procurement processes. E-procurement, indirect spend management, supplier ordering, invoice automation, and ERP integrations are handled through its platform. A B2B marketplace connects suppliers and vendors for procurement needs. Services such as catalogue management and procurement of services are included, with clients encompassing organizations like Disney.
Who are the top competitors of BuyerQuest?
BuyerQuest's top competitors include Coupa, Sage Group and Airbase.
What products or services does BuyerQuest offer?
BuyerQuest offers eProcurement Platform and Varis Suppliers.
Who are BuyerQuest's investors?
BuyerQuest has 4 investors. Key investors include Western Alliance Bank, The ODP, Argentum Group, and First Analysis.