About Procol
Procol is a company based in Delhi (India) founded in 2018 by Gaurav Baheti and Sumit Mendiratta. Procol has raised $12.09 million across 5 funding rounds from investors including Angel List, Wellfound and Vistra ITCL. The company has 96 employees. Procol offers products and services including Strategic Sourcing, eAuction Pro, Vendor Onboarding, Vendor Portal, and Procure to Pay. Procol operates in a competitive market with competitors including Coupa, Sage Group, Tipalti, Emburse and Airbase, among others.
- Annual Revenue₹9.05 Cr
FY 2024 · +62% YoY
- Net Loss-₹15.39 Cr
FY 2024 · -170% margin
- EBITDA-₹15.07 Cr
FY 2024 · -166% margin
- Total Equity Funding$12.09M (USD)
in 5 rounds
- Latest Funding Round$910.74K (USD), Series A
Sep 2022
- InvestorsAngel List
& 35 more
- Employee Count96
Associated legal entities of Procol
Procol operates through Procol Tech Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Procol Tech Private Limited CIN U72900DL2018PTC340246 | Active | 08 Oct 2018 | New Delhi, Delhi | ₹9.1 Cr | 96 | 2 | View details |
Products & Services of Procol
Procol offers a comprehensive portfolio of products and services, including Strategic Sourcing, eAuction Pro, Vendor Onboarding, Vendor Portal, and Procure to Pay.
Streamlines procurement sourcing with data-driven insights.
Enables competitive online auctions for smarter bidding.
Facilitates secure and seamless vendor integration.
Manages POs and invoices for supplier interactions.
Automates requisition to payment processes efficiently.
Apps and channels of Procol
its YouTube channel Procol has 463 subscribers and 28 videos.
Videos from Procol
The most watched videos on Procol's YouTube channel, Procol (463 subscribers). Click a video to play it here.
More on Procol.
Funding Insights of Procol
Procol has successfully raised a total of $12.09M across 5 strategic funding rounds. The most recent funding activity was a Series A round of $910.74 thousand completed in September 2022. 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 $12.09M
- Total Rounds 5
- Last Round Series A — $910,744
- First Round $100,000
(Jun 2018)
- Investors Count 36
All 5 funding rounds of Procol with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | $910,744 | Series A | – | GMO Payment Gateway, Alarko Ventures | |
| Jun 2022 | $6.36M | Series A | $74.31M | GMO Venture Partners | |
| Apr 2020 | $3.78M | Series A | $16.29M | Surge | |
| Jul 2019 | $1.03M | Seed | $••••• | Blume Ventures | |
| Jun 2018 | $100,000 | Grant | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Jun 2022 | $74.31M | •••••••• |
| Apr 2020 | $16.29M | •••••••• |
| Jul 2019 | $••••• | •••••••• |
Full valuation and stage history of Procol
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $74.31M (Jun 2022). 36 investors in total: 23 institutional and 13 angel.
Investors in Procol
Procol has secured backing from 36 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Angel List, Wellfound and Vistra ITCL.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage tech startups are invested in by Alarko Ventures. | – | alarkoventures.com | Istanbul, Turkey | |
Venture capital is provided by family office-backed Esas Ventures. | – | esasventures.com | Istanbul, Turkey | |
Potato farming, grain marketing, and equipment services in Maine. | 2021 | founderbankcapital.com | Mumbai, India | |
Early-stage venture capital fund | – | beenext.com | Singapore, Singapore | |
Sequoia Capital is engaged in venture capital investments. | 1972 | sequoiacap.com | - | |
Seed and early-stage investments are made across sectors in India. | – | blume.vc | Mumbai, India | |
Startup investments are facilitated by Anchorage Capital Partners. | – | anchoragecap.in | Mumbai, India | |
Venture capital firm investing in and advising early-stage startups in India. | 2020 | marsshot.vc | Bengaluru, India | |
Early-stage tech ventures in the US and Asia are funded. | – | gmo-vp.com | Shibuya, Japan | |
Venture capital investments are directed toward multiple sectors by AAVCF3. | – | aavcf.tcc.mode | Sacramento, United States |
Investor details for Procol
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Procol Tech Private Limited (Procol)
Procol Tech Private Limited is the primary company behind Procol. The board of Procol Tech Private Limited currently have 2 directors; the longest-serving is Gaurav Baheti, appointed in 2018. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Gaurav Baheti DIN 07785918 | Director | 08 Oct 2018 | 8 yrs | Procol Tech Private Limited |
| Sumit Kumar DIN 07785466 | Director | 08 Oct 2018 | 8 yrs | Procol Tech Private Limited |
People of Procol
26 people are tracked at Procol (11 in leadership, 15 in team); the tracked headcount is 96.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
Sumit Mendiratta | Co-Founder & CTO | Leadership |
Shaivya Gupta | Marketing Director | Leadership |
Palak Patel | Associate Director- Enterprise Sales | Leadership |
Tanveer Batra | Associate Director Of Sales | Leadership |
Deepakshi Gulati | Director - Talent & Culture | Leadership |
Naveen Diwan | Vice President Of Sales | Leadership |
Dipesh Kothari | Enterprise Sales Director | Leadership |
Harsh S | Director | Leadership |
Sourabh Agarwal | Director Enterprise Sales | Leadership |
Arjun Thukral | Associate Director - Sales | Leadership |
Deepak Kokcha | Corporate Finance Manager | Team |
Dev Pratap Chauhan | Senior Manager- Enterprise Business | Team |
Ankit Bhateja | Senior Marketing Associate | Team |
Ajit Hirekar | Senior Sales Specialist | Team |
Nikhil Kumar | BDR | Team |
Pravina Bhambra | Manager - Business Development | Team |
Younis Sideeq | Product Marketing Manager | Team |
Akash Sinha | SDR Lead - US | Team |
Sumanjana Thakur | Senior Manager Strategic Selling & Account Management | Team |
6 more people are available in the full profile.
Complete people profiles for Procol
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Procol
Figures of Procol Tech Private Limited, the primary company behind Procol, for FY 2024. Revenue was ₹9.05 Cr (+62% year on year). Net loss was -₹15.39 Cr (-170% margin). EBITDA was -₹15.07 Cr (-166% margin). Revenue has grown at a compounded annual rate of +65% over three years and +81% over five years.
- ₹9.05 CrRevenue · FY 2024 · +62% YoY
- -₹15.39 CrNet loss · -170% margin
- -₹15.07 CrEBITDA · -166% margin
- ₹10.8 LakhPaid-up capital
- 96Employees (provident fund records)
- +65%Revenue CAGR, 3 years
- +81%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Procol Tech Private Limited are on its company page.
Detailed financial statements for Procol
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Procol
4 dated milestones of Procol across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Procol is founded.
- Funding First funding round of $100K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $911K.
Competitors of Procol
Procol 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 Coupa, Sage Group, Tipalti, Emburse and Airbase, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| coupa.com | 2006 | San Mateo, United States | $169M | 643 | Cloud-based end-to-end spend management software is delivered for businesses. | |
| sage.com | 1981 | United States | – | 1,877 | Cloud-based accounting and payroll solutions for small and medium businesses | |
| tipalti.com | 2010 | Foster, United States | $553M | 360 | Cloud-based procurement and invoice management solutions are offered to businesses. | |
| emburse.com | 2002 | San Francisco, United States | $7.25M | 9 | Corporate cards and expense management are offered to businesses. | |
| airbase.com | 2017 | San Francisco, United States | $90.5M | 77 | Procure-to-pay management software is offered for business operations. | |
| bizongo.com | 2015 | Mumbai, India | $257.08M | 94 | Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions | |
| procurify.com | 2012 | Vancouver, Canada | $82.49M | – | SaaS spend management software is used to automate procure-to-pay operations. | |
| ivalua.com | 2000 | Redwood, United States | $134.45M | 236 | Procurement management solutions are delivered for business operations. | |
| corcentric.com | 1998 | Mclean, United States | $81.2M | – | Cloud-based procurement automation solutions are delivered to businesses worldwide. | |
| mineraltree.com | 2010 | Cambridge, United States | $123.38M | 26 | Cloud-based accounts payable automation is delivered for businesses. |
Detailed competitors of Procol
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Procol
Websites that share an audience with Procol (procol.io).
Websites whose visitors overlap most with Procol. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| vasyerp.com | 100% | 703.9K | #72,168 | View details | |
| icertis.com | 95% | 241.2K | #220,975 | View details | |
| salarybox.in | 95% | 82.6K | #246,269 | View details | |
| eka1.com | 95% | – | – | View details | |
| kodakco.com | 64% | – | #768,944 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 14 similar websites and full traffic analytics for Procol
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 14 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Latest news on Procol
Complete news archive for Procol
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Procol
10 companies that operate in the same segment as Procol (Finance & Accounting Applications), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 | |
Subscription-based online banking is offered to SMEs and freelancers. | 2017 | Paris, France | USD 717.15 M | – | – | |
Cloud-based ERP software is provided for business management across segments. | 1996 | Oslo, Oslo, Norway | USD 198.09 M | – | – | |
Payflow is recognized as a financial wellness application for employees. | 2020 | Alcobendas, Comunidad De Madrid, Spain | USD 58.23 M | – | – | |
Cloud-based HR and payroll solutions are offered for small businesses. | 2012 | San Francisco, California, United States | USD 718.35 M | – | – |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Frequently Asked Questions about Procol
Procol was founded in 2018.
Procol is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Gaurav Baheti is the current CEO of Procol. They have also founded this company.
Procol is a funded company, having raised a total of $12.09M across 5 funding rounds to date. The company's 1st funding round was a Grant of $100K, raised on Jun 2018.
Procol has 96 employees.
The primary company behind Procol, Procol Tech Private Limited, reported revenue of ₹9.05 Cr for FY 2024, up 62% year on year.
Procol was founded in 2018 in Delhi, India, as an AI-driven platform focused on procurement automation within the enterprise software sector. Operations encompass streamlining sourcing, vendor onboarding, payments, and performance analysis. Tools are provided for strategic sourcing, e-auctions, vendor management, and procure-to-pay processes. Data-driven insights are generated to support spending optimization and supplier collaboration.
Procol's top competitors include Coupa, Sage Group and Airbase.
Procol offers Strategic Sourcing, eAuction Pro, Vendor Onboarding, Vendor Portal, and Procure to Pay.
Procol has 36 investors. Key investors include Angel List, Wellfound, Vistra ITCL, GMO Payment Gateway, and Mars Shot Ventures.
The valuation of Procol is $74.31M as of Jun 2022.
Procol operates through Procol Tech Private Limited.