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 as of April 05, 2024. 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.
- Headquarter Delhi, India
- Employees 96 as on 05 Apr, 2024
- Founders Gaurav Baheti, Sumit Mendiratta
- Stage Minicorn
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Sectors
TechnologyRetail
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Phone
*********
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Website
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Social
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- Legal Name Procol Tech Private Limited
- Date of Incorporation 08 Oct, 2018
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$4.28 M (USD)1950.45as on Mar 31, 2023
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Net Profit
$1.86 M (USD)375.93as on Mar 31, 2023
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EBITDA
$1.7 M (USD)353.37as on Mar 31, 2023
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Total Equity Funding
$12.09 M (USD)
in 5 rounds
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Latest Funding Round
$910.74 K (USD), Series A
Sep 13, 2022
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Investors
Angel List
& 35 more
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Employee Count
96
as on Apr 05, 2024
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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.
People of Procol
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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 Total Funding
- Total Rounds 5
- Last Round Series A — $910,744
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First Round
First Round
(01 Jun 2018)
- Investors Count 36
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Series A - Procol | Valuation | GMO Payment Gateway , Alarko Ventures | |
| Jun, 2022 | Amount | Series A - Procol | Valuation | GMO Venture Partners | |
| Apr, 2020 | Amount | Series A - Procol | Valuation | Surge |
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 |
|---|---|---|---|---|
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Early-stage tech startups are invested in by Alarko Ventures.
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Founded Year | Domain | Location | |
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Venture capital is provided by family office-backed Esas Ventures.
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Founded Year | Domain | Location | |
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Potato farming, grain marketing, and equipment services in Maine.
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Founded Year | Domain | Location |
Investments & Acquisitions by Procol
Financial Statements - Procol
Procol Comparisons
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 year | HQ Location | Description |
|---|---|---|---|---|
| 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 accounting and payroll solutions for small and medium businesses
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| 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 |
Corporate cards and expense management are offered to 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 |
Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions
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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 Series A of $3.78M, raised on Jun 01, 2018.
As of Apr 05, 2024, the latest employee count at Procol is 96.
Annual revenue of Procol is $4.28M as on Mar 31, 2023.
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.