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. 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.
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.
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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 |
| 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 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. 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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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 |
| 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 Procol
| 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 - Procol
| 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 |
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. 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 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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| 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 Procol
Frequently Asked Questions about Procol
When was Procol founded?
Procol was founded in 2018.
Where is Procol located?
Procol is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Who is the current CEO of Procol?
Gaurav Baheti is the current CEO of Procol. They have also founded this company.
Is Procol a funded 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.
How many employees does Procol have?
As of Apr 05, 2024, the latest employee count at Procol is 96.
What is the annual revenue of Procol?
Annual revenue of Procol is $4.28M as on Mar 31, 2023.
What does Procol do?
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.
Who are the top competitors of Procol?
Procol's top competitors include Coupa, Sage Group and Airbase.
What products or services does Procol offer?
Procol offers Strategic Sourcing, eAuction Pro, Vendor Onboarding, Vendor Portal, and Procure to Pay.
Who are Procol's investors?
Procol has 36 investors. Key investors include Angel List, Wellfound, Vistra ITCL, GMO Payment Gateway, and Mars Shot Ventures.
What is Procol's valuation?
The valuation of Procol is $74.31M as of Jun 2022.
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