Hot diggity dawg! US procurement startups are killing it.
There are so many, in fact, that we expanded our article to include 25 of them. What started out as a top 10 article quickly became obvious that we needed to cover more!
It’s no surprise that in the home of big tech, Silicon Valley and seemingly endless VC investors, there’s a thriving and diverse procurement tech ecosystem.
Let’s have a look at the who’s who in the American procurement startup space!
The 25 Hottest American Procurement Tech Startups
Before we give you the list, we should briefly touch on what we’ve defined as a “Startup”.
- Less than 50 employees, according to data on LinkedIn.
- Less than 10 years old as a company.
- A company showing signs of growth i.e. numerous customers, and beyond launch stage.
If they are VC-backed, then they must be at pre-Seed or Seed stage. Anyone at Series A onwards, we would typically label as a scale-up.
If you want to search the whole range of procurement tech companies out there beyond just startups, then check our our free software directory.
If you’re a consultancy, an investor, or a solution provider and need to do deeper analysis of the market, we also offer subscriptions to our back end database, with all data points searchable.
1. Focal Point
Focal Point is a growing Atlanta-based procurement startup offering a unique solution tacking three different challenges within procurement.
Their software aims to replace outdated Excel or PowerPoint processes through having one central place to automate processes, monitor and track all procurement-related activities.
Focal Point’s Procurement Performance module allows users to track multiple performance dimensions at once.
The Intake and Triage module enables the dynamic routing of procurement requests. It directs incoming requisitions and queries to the appropriate resources based on specific metrics.
The Execution and Collaboration modules give you the ability to track tasks and approvals individually, bringing you closer to project completion.
Focal Point aims to provide an overarching solution for the entirety of your procurement department’s day-to-day operations.
Key Data:
- Founder / CEO: Anders Lillevik
- Date Founded: 2020
- Visit Focal Point profile in our Software Finder
2. Lavenir AI
LavenirAI is a conversational AI-powered procurement negotiation training platform.
Designed by procurement specialists, for procurement professionals, LavenirAI was developed to raise the bar for procurement negotiation.
The platform allows you to negotiate against bespoke Conversational AI avatars, to develop your skills and secure better deals.
With LavenirAI, you can choose your sales avatar, set your scene, and negotiate your way to a deal – advancing your skills and progressing your career with a revolutionary way to train.
Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. The avatars you train against are true to life, each with different personalities, emotes, and negotiation techniques.
You’ll also receive pre, post, and in-negotiation coaching and feedback from the Digital Mentors along the way.
LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game.
Key Data:
- Founder / CEO: Clive R Heal
- Date Founded: 2021
- Visit LavenirAi profile in our Software Finder
3. Raindrop
Raindrop is one of a number of US procurement startups offering enterprise-level spend management platforms. At its heart is a source-to-pay suite offering a range of functionality, with a complete suite of cloud-based modules. These modules can be purchased separately or as one complete suite.
Raindrop has also been recognised as a cloud-enabled procurement focused Contract Lifecycle Management (CLM) application.
The software was founded by a group of seasoned procurement professionals who have developed a full-suite spend management platform with two overriding principles: time to value and ease of use.
Their solution is made up of five modules:
- Payables
- Supplier management
- Analytics (spend, contract, and supplier intelligence)
- e-Sourcing
- Contract management
Key Data:
- Founder / CEO: Vijay Caveripakkam
- Date Founded: 2019
- Visit Raindrop profile in our Software Finder
4. FRDM
FRDM is a software company specialising in supply chain risk management. Their software is designed for multinational corporations managing complex supply chains. It helps large enterprises like Virgin, Coca-Cola, Boeing, and IBM map, monitor, and mitigate ESG risks across their global supply chains.
FRDM’s platform integrates with procurement data to map supplier relationships across multiple tiers automatically. It monitors risks related to issues like human rights, climate change and corruption, using artificial intelligence and big data analytics. Key features include supply chain mapping, risk dashboards, mitigation workflows, and regulatory reporting.
In addition to risk monitoring, FRDM facilitates supplier assessments through digital questionnaires. Customers can choose from standard templates or create fully customised surveys covering ESG performance, compliance, certification status, etc.
Supplier responses feed into FRDM’s risk analytics engine for a comprehensive view of resilience. It helps clients conduct supply chain due diligence and meet emerging compliance obligations related to modern slavery, climate change, and sustainable sourcing.
Key Data:
- Founder / CEO: Justin Dillon
- Date Founded: 2016
- Visit FRDM profile in our Software Finder
5. LUPR
LUPR develops a supplier relationship management platform that allows executives to document, communicate, and analyse their supplier insights.
The app captures, synchronises, and analyses supplier data so CPOs can easily understand their supplier map and avoid risk from their suppliers. It helps companies consolidate critical data from different systems and teams to support more effective supplier management.
LUPR promises to extend any procurement toolset, providing supplier insights, real-time analysis, risk assessment, resolution control and a savings pipeline to track past and future saving.
It promises to assist with improving buyer and supplier collaboration. Automated alerts help you track supplier performance and analysis. All while offering risk mitigation derived from various different external data sources.
LUPR also leverages the power of Salesforce CRM to lead the transformation of Supply Management.
Key Data:
- Founder / CEO: Sean Harley
- Date Founded: 2017
- Visit LUPR profile in our Software Finder
6. Part Analytics
Part Analytics is an AI-powered supply management platform focusing on direct materials sourcing.
The platform assists you in finding available parts. It monitors market changes, and provides product cost, risk, savings and supply insights for everyone on your team.
Part Availability Insights allow you to automatically search for all the parts and alternative options on your bill of materials (BOM) and part lists. This enables you to catch potential disruptions earlier in the design process to avoid delays in production.
Part Analytics’s enterprise parts catalog, Part IQ, accelerates new product development. A combined view of cost, risk and technical information allows sourcing and product teams to compare components and approved alternatives. This improves information sharing to minimise design iterations.
The platform also offers supply and risk management insights. By bringing information together from internal sources, suppliers, and manufacturing partners, it eliminates the need for spreadsheets. You can automatically identify real-time spend and savings opportunities for every product and component.
Key Data:
- Founder / CEO: Jithendra Palasagaram
- Date Founded: 2019
- Visit Part Analytics profile in our Software Finder
7. Ravacan
Ravacan is a small but growing US-based software startup providing an operations planning and supplier management automation solution for direct spend.
Their platform also offers thorough spend intelligence, allowing for in-depth strategic sourcing. It is optimised for sourcing raw materials and purchased parts in manufacturing businesses.
Ravacan automates the purchased parts procurement process by consolidating part demands, providing automatic price updates, and visualising product cost changes.
It also tracks wear & tear, monitors capacity, and allows for budget management.
Key Data:
- Founder / CEO: Anne-Sophie Le Bloas
- Date Founded: 2019
- Visit Ravacan profile in our Software Finder
8. Requis
Requis is a Texas-based startup offering a supply chain solution with a focus on capital equipment purchasing.
The app seeks to eliminate your paper and manual sourcing processes, creating a single solution for your business’s supply chain needs.
It aims to achieve this by creating a singular, efficient network that connects enterprises and surplus buyers with equipment vendors.
Requis’s features cover e-tendering, circular economy and supplier management, as well as a tender CRM for suppliers.
Additionally, analytics features grant you deeper visibility into your supply chain.
The platform works to offer a centralised and standardised system for all of your assets. Your procured asset records are automatically added to an asset library. These can be updated at any time with any relevant operational data as needed.
Requis also enables the circular economy. Decommissioned machinery and spare parts from old projects are made available through their platform to other procurement teams who also use the platform.
Key Data:
- Founder / CEO: Richard D Martin
- Date Founded: 2018
- Visit Requis profile in our Software Finder
9. Levelpath
Levelpath is a procurement software company focusing on intake and process orchestration. It aims to transform enterprise procurement with its AI and mobile-first platform. Levelpath targets enterprises across all industries. Some of their current customers include SiriusXM, Qualtrics, Innovacare and Athene.
The Levelpath platform is designed to make procurement simple, efficient and “delightful” for all stakeholders involved. It provides an AI-powered supplier directory, an intuitive intake process for procurement requests, and a centralised hub to track all projects, contracts, and KPIs.
Key features include Pathfinder, which acts as the front door for procurement, guiding stakeholders to the right resources or workflows. A simple Q&A flow determines the optimal path, whether direct procurement intake, access to policies/info, or integrations with external tools.
In addition, Levelpath Intake simplifies procurement intake for stakeholders via conversational interfaces. Starting with just two initial questions, stakeholders can quickly initiate new requests.
Levelpath aims to increase procurement speed, savings, and satisfaction across the organisation by leveraging AI and easy-to-use mobile interfaces. Compliance is improved by making it seamless for stakeholders to follow procurement processes.
Key Data:
- Founder / CEO: Alex Yakubovich
- Date Founded: 2022
- Visit Levelpath profile in our Software Finder
10. Altana
Altana is an AI partnership using global economic data to make trade more efficient and profitable. It offers solutions for global trade and supply chain through a shared AI platform.
Altana provides data fusion and decision support solutions, built on a comprehensive model of the global trade network. The Altana Atlas is an AI model that connects and learns from billions of data points to create a single source of truth on the global supply chain.
Connecting to the Altana Atlas enables you to know where your products come from, distinguish your true supply chain locations and monitor flow of goods in and out of facilities to build safer, more resilient supply chains.
Altana lets you search millions of product profiles and trace product value chains. It matches shippers and receivers to entity master data in real time, and allows screening of shipments with Altana’s Trusted Shipment Ratings.
Key Data:
- Founder / CEO: Evan Smith
- Date Founded: 2018
- Visit Altana profile in our Software Finder
11. Graphite Systems
Graphite Systems is another one of the rapidly growing US procurement startups, providing a supplier life cycle and risk management solution. It focuses on minimising any administrative work and manual tasks for procurement when it comes to onboarding and day-to-day management of suppliers.
GraphiteConnect allows for easy supplier links through their network of company profiles. Furthermore, it provides a simple but powerful workflow solution providing collaboration and messaging options with your supply bae. GraphiteConnect allows management of suppliers at every step of the process.
For suppliers, the platform enables an easy surveying and onboarding process.
The platform also provides risk management solutions. It ensures the compliance of suppliers through automatic reviews and allows for any company-specific requirements to be audited.
They also offer graphiteResponder, an RFx filling solution, using entry history to help quicker and more efficient form filling. It is a free MS Excel add-in.
The software places special emphasis on security, providing 256-bit data encryption, two-factor authentication, SSO and session timeouts, and identity management.
Key Data:
- Founder / CEO: Conrad Smith
- Date Founded: 2018
- Visit Graphite Systems profile in our Software Finder
12. LightSource
LightSource is an early stage startup offering an online strategic sourcing platform aimed at mid-market businesses. It’s designed for both buyers and suppliers, offering tools for everybody in the supply chain ecosystem.
For buyers, LightSource makes it easy to find new suppliers, send RFQs, and make the best sourcing decisions while collaborating with your team.
For suppliers, LightSource makes it easy to review an RFQ, respond with quotes quickly to win business, and find new sales and margin-improvement opportunities.
The platform gives you access to a B2B network of suppliers and buyers, focusing on manufacturing businesses. It aims to put an end to word-of-mouth referrals and endless Googling – replacing these lengthy processes with intelligent supplier recommendations.
LightSource enables you to collaborate with your teammates on strategic sourcing projects and collect quotes with ease.
Their “savings engine” helps manage bills of material (BOM) and cost-targets, and identifies new savings opportunities to create win-wins for buyers and suppliers.
Key Data:
- Founder / CEO: Spencer Penn
- Date Founded: 2021
- Visit LightSource profile in our Software Finder
13. Opstream AI
Opstream AI is a fast-growing New York City-based company offering an AI-driven intake and sourcing platform.
It aims to empower organisations with intake management, intelligent sourcing, and portfolio automation.
The platform is designed to prevent duplicate spend and shelf ware, while automating and streamlining cross-organisational workflows.
Opstream aims to give users full visibility and control over spending. It captures all spend requests in a centralised location before anything is purchased. This allows users to control spend in real-time, and prevent maverick spending before it happens.
In this way, Opstream enables organisations to identify bottlenecks and reconfigure workflows instantly.
Opstream also helps users to automate purchase requests, approvals and renewals – all in a no code platform. This platform is designed to be easy to use – aiming to prevent information overload for employees, with a simple, guided user experience.
Key Data:
- Founder / CEO: Lihi Lutan
- Date Founded: 2021
- Visit Opstream AI profile in our Software Finder
14. Varisource
Varisource is a data insights platform focusing on technology spend insights to assist with IT and telecoms sourcing.
It helps companies of all sizes and industries to digitise and centralise their technology spend – gathering contracts, inventory, and supplier performance data all in a single dashboard. This gives you full spend visibility, along with proactive reminders and insights.
Varisource Data Insights platform gives businesses a 360 degree view of their IT products. This helps to identify savings by assessing whether the IT products and services you use providing the best value for your company. It then enables you to avoid and redirect any otherwise costly automatic renewals.
It helps customers centralise their data, benchmark against market, evaluate supplier performance, and give proactive insights into contract expirations and terms. Through its large technology sourcing marketplace, it also enables customers to have pricing leverage.
The platform combines company, employee and customer data. With this, you get a complete, cost effective solution to your technology spend issues.
Key Data:
- Founder / CEO: Victor Hou
- Date Founded: 2021
- Visit Varisource profile in our Software Finder
15. Planergy
Planergy is a global Spend Management platform, headquartered in Boston and Dublin.
It helps over 1000 businesses worldwide to process in excess of $12 billion in Business Spend.
The platform enables mid-market businesses in all industries to manage their business spend confidently. Its easy-to-use, intuitive, user interface allows for onboarding in weeks instead of months.
Planergy automates the entire Procure-to-Pay and AP Automation process, giving immediate real-time reporting dashboards and approval automation. It helps with removing bottlenecks, controlling budget management and matching purchase orders with receiving.
The software promises to deliver significant savings by eliminating maverick purchasing, off-contract purchasing and invoice fraud. It also assists with improving your compliance and accountability.
It offers a consumer shopping experience with business level controls and visibility across your company. Vendor management features help drive improved supplier relationships and reduce supply chain risk.
Key Data:
- Founder / CEO: Michael Higgins
- Date Founded: 2009
- Visit Planergy profile in our Software Finder
16. Scalewith
ScaleWith is one of an increasing number of US procurement startups focusing on social impact within supply chains.
The software offers solutions for procurement, sales, and real estate. ScaleWith’s products allow businesses to gain customer and supplier insights about shared Social Impact areas and deliver against those priorities in an easy to use platform.
It helps companies match their sustainability and ESG efforts with a nonprofit or social enterprise that benefits those areas.
A proprietary platform uses data to identify relevant, high-impact Social Impact programs best suited for both you and your supplier.
ScaleWith’s content library features high-quality storytelling and reporting assets. This enables both you and your supplier to communiate the positive impact you created through your deal.
ScaleWith evaluates hundreds of nonprofits and social enterprises. Companies globally use it to help turn everyday business into a social benefit.
Key Data:
- Founder / CEO: Paul Polizzotto
- Date Founded: 2017
- Visit ScaleWith profile in our Software Finder
17. SaaSRooms
SaaSRooms is a US and UK-based scaleup offering a SaaS management and spend analytics platform.
Designed for the mid market, it analyses SaaS, cloud and IT spend data with the aim of delivering savings.
The platform automatically captures and enriches users’ spend and usage data from multiple data sources. This provides real time visibility and control of your organisation’s SaaS subscriptions, allowing you to optimise your SaaS stack and track performance.
SaaSRooms also gives users access to a SaaS marketplace where they can find, evaluate and select best of breed SaaS apps. By gathering data from thousands of users and vendors, it leverages this combined data to aid you in making the right sourcing decisions.
Additionally, benchmarking features allow you to assess your performance against other similar businesses. You can compare your organisation to best in class, and identify potential for savings and improvements.
SaaSRooms also helps to control employee spending through offering payment cards.
Key Data:
- Founder / CEO: Philip Allouche
- Date Founded: 2022
- Visit SaaSRooms profile in our Software Finder
18. Zapro AI
Zapro AI is an American procurement startup offering a source-to-pay (S2P) suite with a special focus on AI-driven accounts payable automation and analytics.
The platform’s smart technology assists with supplier identification, contract management and purchase order management. This helps procurement teams streamline their workflows and reduce cycle times, all while Zapro’s AI continues to learn and improve.
Zapro AI uses machine learning algorithms to provide real-time insights and analytics, allowing users to make more informed decisions. Meanwhile, its RFP automation capabilities help to reduce the need for manual data entry. This reduces human error and maximises time efficiency.
The platform offers an intuitive dashboard which allows users to track procurement metrics like spend analysis, supplier performance, and compliance.
Zapro AI promises to integrate easily with your existing procurement systems. Additionally, it’s designed to be user-friendly and requires no coding or technical expertise to use.
Key Data:
- Founder / CEO: Kafil Saleem
- Date Founded: 2021
- Visit Zapro AI profile in our Software Finder
19. Zumen
Zumen is a Source-to-Pay procurement software for direct materials and manufacturing companies, headquartered in California.
It enables companies to digitise their direct sourcing and procurement, and manage every detail of the process in a transparent, collaborative platform.
Zumen offers part life cycle management, BOM interface, supplier base visibility and product cost management. Through these modules, companies can build an agile, resilient supply chain and get their products to market faster.
Zumen offers one platform to manage your entire Source-to-Contract Process. From new product development to production sourcing, supplier management, strategic sourcing, and procurement. With its powerful integration framework, Zumen gives you real-time data, analysis and insights from across your enterprise.
The software offers easy, single-click integration with most ERPs and PLMs, with zero integration overhead.
Zumen’s advanced AI allows for a truly paperless quotation process. It extracts data from multiple supplier formats to create an automatic quote comparison on the unit price level basis and on a line-by-line comparison.
Key Data:
- Founder / CEO: Viswa Kuppuswami
- Date Founded: 2019
- Visit Zumen profile in our Software Finder
20. e2Log
E2log provides a holistic logistics procurement solution, covering all aspects of the process.
It covers inventory management, through shipping, cargo moves, online procurement, archiving documents, to online invoicing.
For procurement, it features easy ordering through their marketplace, a cloud-based document repository, constant communication between stakeholders and teams through the platform, close shipment tracking, online invoicing and change order management, ERP integration, and real-time data access.
Key Data:
- Founder / CEO: Adolph Colaco
- Date Founded: 2018
- Visit E2log profile in our Software Finder
21. Control Hub
ControlHub is a Houston-based procure-to-pay solution which serves mid-market businesses with $50 million to $1 billion in annual revenue.
Their procurement management software streamlines the entire purchasing process for manufacturers, providing tools to control, request, approve, purchase, pay, and reconcile transactions.
Key features include purchase requisitions, approval workflows, automated purchase orders, invoice processing, payments, accounting integrations, budget tracking, spend analytics, and more.
By centralising purchasing data and automating manual tasks, ControlHub gives users visibility into spend while enforcing purchasing policies. Their software integrates with top accounting platforms like QuickBooks and NetSuite for real-time syncing.
ControlHub mainly serves manufacturers and hardware companies. Their software reduces the time spent on purchasing tasks from days to hours through automation. Customers praise ControlHub for making back-office work more efficient and improving compliance with approval processes.
The company continues to scale rapidly, offering a free purchase order generator, purchasing handbook, and Slack integration for request approvals.
Key Data:
- Founder / CEO: Rodrigo Santibanez
- Date Founded: 2021
- Visit ControlHub profile in our Software Finder
22. Lightyear
Lightyear is a telecom management software company that serves mid-market and enterprise customers across a range of industries.
The software offers an end-to-end telecom management platform to optimise how companies source and manage internet, wide area networks (WAN), voice, and colocation services. Key capabilities of the SaaS platform include automating procurement workflows, managing telecom inventory, benchmarking pricing through proprietary data, and providing a unified view of the network.
Specific features include creating RFPs, comparing vendor quotes, tracking assets, managing contracts and renewals, monitoring network performance, and generating reports.
Lightyear claims customers can achieve over 70% time savings on procurement and 20% service cost reductions.
The company has worked with hundreds of well-known brands like Glossier, Pandora, New American and Palo Alto Networks. Case studies cite customers saving tens of thousands of dollars in costs and hours of engineering time by switching to Lightyear for telecom management.
Key Data:
- Founder / CEO: Dennis Thankachan
- Date Founded: 2019
- Visit Lightyear profile in our Software Finder
23. Leverage
Leverage delivers end-to-end supply chain visibility powered by artificial intelligence.
It serves sectors including manufacturing, retail and fashion, and consumer product goods.
The software offers solutions across the supply chain spectrum – from SKU and PO management, contract lifecycle management, and inventory management, to planning, forecasting and supplier risk assurance.
Leverage allows you to connect disparate systems, enabling you to have all your data in one centralised hub. It integrates with Oracle, Quickbooks, Uber Freight and many others. The company’s “white-glove” systems integration team promises to handle all the heavy-lifting, so there’s no additional strain on your IT team.
By integrating ERPs, freight forwarders, EDI providers, and inventory/warehouse systems into one centralised data hub, Leverage allows supply chain teams to track every purchase order, end-to-end and in real time, streamlining communication, collaboration, reporting and insights.
Key Data:
- Founder / CEO: Andrew Stroup
- Date Founded: 2018
- Visit Leverage profile in our Software Finder
24. Open Envoy
OpenEnvoy is an accounts payable automation software that helps companies digitise, automate, and gain visibility into their invoice processing workflows.
Their target customers are enterprise companies across the manufacturing, supply chain, and media industries. The company has also been featured in Business Insider for their innovative approach to AI-powered accounts payable automation.
The platform uses AI to extract data from invoices and documents with unmatched speed and accuracy. It can process thousands of documents per hour, accepting any format from any source. The software automatically audits invoices, preventing duplicate payments and overpayments. It also provides analytics and dashboards for AP metrics and cash flow forecasting.
Key features include intelligent document digitisation, touchless workflow automation, real-time auditing, executive visibility into AP performance, early payment discounts, and integration with 3rd party data.
OpenEnvoy aims to help finance teams eliminate manual tasks, improve efficiency, optimise working capital, and gain greater control over their accounts payable process.
Key Data:
- Founder / CEO: Matthew Tillman
- Date Founded: 2020
- Visit OpenEnvoy profile in our Software Finder
25. Worksuite
Worksuite is a San Francisco-based startup providing a freelancer management system (FMS) for tech companies and mid-market businesses.
It allows companies of any size to onboard, manage, and pay independent freelancers worldwide for projects they deliver. This enables an easy compliance, reporting, and project management solution without the need for lengthy vendor onboarding processes.
The platform offers custom hiring pipelines, comprehensive freelancer shortlisting with informative profiles, while minimising risks associated with managing a contingent workforce.
Key Data:
- Founder / CEO: Joey (Frasier) Boothe
- Date Founded: 2015
- Visit Worksuite profile in our Software Finder
Beyond US procurement startups
Has this tickled your curiosity about procuretech? We’ve also recently published articles on the top UK, German, Nordic and European startups!
Maybe you want to learn more about what solutions are out there, representing different areas of procurement.
Or perhaps you could use some help for how to search and select a provider for your organisation.
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