About SmartProcure
SmartProcure is a company based in Deerfield Beach (United States) founded in 2011.. SmartProcure has raised $7.9 million across 4 funding rounds from investors including Govtech Fund. The company has 175 employees as of December 31, 2022. SmartProcure offers products and services including SmartProcure Database and Procurement Tools. SmartProcure operates in a competitive market with competitors including Coupa, Sage Group, Tipalti, Emburse and Airbase, among others.
- Headquarter Deerfield Beach, United States
- Employees 175 as on 31 Dec, 2022
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Sectors
Government & Social SectorTechnology
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Phone
*********
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Website
*********
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Social
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- Legal Name Smartprocure, Inc.
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Annual Revenue
$00as on Oct 11, 2016
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Net Profit
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EBITDA
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Total Equity Funding
$7.9 M (USD)
in 4 rounds
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Latest Funding Round
$6.2 M (USD), Series A
Dec 17, 2014
- Investors
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Employee Count
175
as on Dec 31, 2022
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Products & Services of SmartProcure
SmartProcure offers a comprehensive portfolio of products and services, including SmartProcure Database and Procurement Tools. 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.
Aggregates government purchase orders for searching and analysis purposes.
Enables benchmarking and cost savings through organized purchasing data.
Unlock access to complete
Funding Insights of SmartProcure
SmartProcure has successfully raised a total of $7.9M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $6.2 million completed in December 2014. 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 4
- Last Round Series A — $6.2M
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First Round
First Round
(01 May 2012)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2014 | Amount | Series A - SmartProcure | Valuation |
investors |
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| Sep, 2014 | Amount | Series A - SmartProcure | Valuation | Govtech Fund |
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| Aug, 2013 | Amount | Seed - SmartProcure | Valuation |
investors |
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| 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 SmartProcure
SmartProcure has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Govtech Fund. 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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Investments are made in startups modernizing government operations.
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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 SmartProcure
| 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 - SmartProcure
| 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 |
Smartprocure Comparisons
Competitors of SmartProcure
SmartProcure 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 |
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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 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 |
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| 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 Smartprocure
Frequently Asked Questions about SmartProcure
When was SmartProcure founded?
SmartProcure was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Where is SmartProcure located?
SmartProcure is headquartered in Deerfield Beach, United States. It is registered at Deerfield Beach, Florida, United States.
Is SmartProcure a funded company?
SmartProcure is a funded company, having raised a total of $7.9M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.2M, raised on May 01, 2012.
How many employees does SmartProcure have?
As of Dec 31, 2022, the latest employee count at SmartProcure is 175.
What does SmartProcure do?
SmartProcure collects government purchasing data and share it among other government agencies and government vendors. The data is gathered through Freedom of Information Act requests. The company aggregates purchasing order from schools, local, state and federal agencies. Government vendors uses this system to see who buys their products, how much they pay and who they purchase them from. Government agencies uses this system to identify prospective vendors, evaluate pricing parameters for each procurement, confirm vendor performance, and share lessons-learned. For vendors it offers SmartSearch and SmartExport. For government agencies it offers SmartSearch, SmartAgency and SmartPortal. The database is free for government but government vendors have to pay a subscription fee.
Who are the top competitors of SmartProcure?
SmartProcure's top competitors include Coupa, Sage Group and Airbase.
What products or services does SmartProcure offer?
SmartProcure offers SmartProcure Database and Procurement Tools.
Who are SmartProcure's investors?
SmartProcure has 1 investor. Key investors include Govtech Fund.