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Companies in AI in Procurement
There are 303 companies in AI in Procurement which include Bill.com, Taulia, Sirion, Bizongo, Craft. 133 companies in AI in Procurement are funded, with 61 having secured Series A funding. Till date, the sector has seen the creation of 3 Unicorns. United States has the most number of companies in AI in Procurement (124), followed by United Kingdom
(28), and then India (27).
On average, the last 10 years have seen 22 new companies launched every year. Most number of AI in Procurement startups have been founded by alumni from Stanford University, Columbia University and Stanford Business School.
Here is a List of top companies in AI in Procurement
1. Bill.com
Cloud-based accounts payable and receivable software for businesses. Its features include invoice management, workflow approval management, payment management, reconciliation, automated billing, customer management, and more. It also offers solutions for international and domestic payment and ACH payment processing.
Key facts about Bill.com
- Founded Year: 2006
- Location: Palo Alto (United States)
- Stage: Public
- Total Funding till date: $326M
- Investors: August Capital, Icon Ventures and 28 Others
- Latest Funding Round: Post IPO, Jun 15, 2021, $1.69B
- Tracxn Score: 86/100 What is this?
- Competitors Rank: 1 of 292 Competitors
2. Taulia
AI-based electronic invoicing and supply chain management solution for businesses. It features solutions to provide dynamic discounting, supply chain finance, cash forecasting, invoice automation, supplier management, and more. It offers a web-based invoice management solution that allows you to choose an early payment option using their working capital or third-party funds.
Key facts about Taulia
- Founded Year: 2009
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $220M
- Investors: Trinity Ventures, Matrix and 25 Others
- Latest Funding Round: Conventional Debt, Mar 11, 2021, $6B
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 527 Competitors
3. Sirion
AI powered legal contract management software. The platform provides a legal contract lifecycle management software and a CLM tool that allows users to create, measure, analyze, and manage contracts. It also offers solutions such as procuremet, sales, finance, legal operations, and more. It also provides a cloud-based repository to store the data. It includes a contract review feature to identify deviations in the contracts.
Key facts about Sirion
- Founded Year: 2012
- Location: Lehi (United States)
- Stage: Series D
- Total Funding till date: $171M
- Investors: Peak XV Partners, Partners Group and 15 Others
- Latest Funding Round: Series D, Jan 03, 2023, $25M
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 2 of 385 Competitors
4. Bizongo
AI-powered vendor digitization, procurement and supply chain financing solutions. The platform offers features including digital vendor management, material procurement management, supply chain financing, packaging sourcing, purchase order management, and more. It caters to multiple industries including packaging, textiles, apparel, and more.
Key facts about Bizongo
- Founded Year: 2015
- Location: Mumbai (India)
- Stage: Series E
- Total Funding till date: $253M
- Investors: Accel, Schroders Capital and 33 Others
- Latest Funding Round: Series E, Oct 04, 2023, $50M
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 4 of 398 Competitors
5. Craft
An AI-enabled platform that specializes in supply chain resilience, enabling businesses to manage their supplier networks and supply chains. The company's platform provides visibility and insights into supplier relationships, enabling businesses to mitigate risks and disruptions. It enables organizations to make supplier decisions, protect against disruptions and optimize supply chain strategies. It empower businesses to manage their supplier networks and supply chains with their comprehensive data fabric and advanced risk mitigation engine. It provides visibility to explore and evaluate supplier networks, AI-driven insights to detect and mitigate disruptions, and collaborative tools to optimize supply chain strategies.
Key facts about Craft
- Founded Year: 2014
- Location: Francisco (United States)
- Stage: Series B
- Total Funding till date: $42M
- Investors: High Alpha, London Co-Investment Fund and 17 Others
- Latest Funding Round: Series B, Feb 01, 2023, $32M
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 4 of 405 Competitors