This article showcases Startup Pill’s top picks for the best Procurement startups. These startups are taking a variety of approaches to innovating inside of the Procurement industry and around the world. They are all exceptional startups well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
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Top Procurement Startups
FLOKI takes over the procurement area of businesses in fragmented industries. We are building a smart and fully autonomous digital procurement agent for fragmented food retailers (restaurants, independent grocery stores or any other small entity that buys Fast Moving Consumer Goods often).
Basically, a very smart virtual employee that buys really well, by searching through thousands of prices, mimicking human preferences and respecting thousands of constraints. We also aggregate demand to enable small business owners to access better prices, payment terms and service levels.
Our algorithms proactively predict demand at sku-level in order to avoid stock-outs and excess stock at the same time.. .
PAAS’ flagship SaaS platform, PAAS360 involves an Artificial Intelligence (AI) platform and Human-Based Computation (HBC) to accelerate the prediction of the best optimal price for technology products & services. In addition to the prediction of savings, PAAS360 offers a module for IT contract management, supplier details, category plan, budget alignment & savings dashboard.
PAAS has Executive level relationships with the Technology Suppliers and Services Companies. Our experience provides insights to help with guiding our customers to achieving the best commercial terms and pricing.
The platform along with PAAS services operationalizes & aligns the Technology, Procurement & Finance departments with significant savings in time & money, while protecting your assets & mitigating risk.. .
The average company is overspending on software by 25%, but it’s usually impractical to build a SaaS procurement team. This drives disorganized contracts, high costs, and time lost negotiating with vendors.
Tropic is a tech-enabled procurement service for startups. Experts in SaaS manage your contracts for you and work directly with your vendors on your behalf.
By working with the same vendors repeatedly, they can drive better prices faster. Tropic gives you back your SaaS overspend for less than the cost of an FTE.
We contractually guarantee your savings. If we miss the mark, we will write you a check..
Software. As above.
But, more specifically, penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval.
Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.
On their network, you’ll be able to see reviews from your peers and write reviews to help them. Procurated is a resource designed by procurement professionals, for procurement professionals.
Write a review and help their colleagues across your state or across the country improve the quality of the suppliers they choose.. .
Munera is a project collaboration platform providing project management services intended to enhance the business of local government. Its services include centralized team selection, ongoing project collaboration, and document sharing & storage, enabling clients to manage their projects efficiently.
They do this through its project procurement and collaboration platform designed to facilitate the planning, purchasing, and execution of public work. Their mission is to create a modern ecosystem of collaborative and data-driven support surrounding the maintenance and development of our country’s infrastructure.
Munera was founded by Henry Wagner in 2019 and is headquartered in San Francisco, California, USA.. .
Healthcare marketplace is broken from a long-time. Both buyers (hospitals, health systems) and suppliers (pharmaceutical and medical device manufacturers/digital health companies/service or solution providers) struggle to find the optimum opportunities for developing a transaction.
It takes time and resources to effectively commercialise new healthcare technology. We use the latest data automation technologies (NLP, ML, DL etc).
to aggregate demand from millions of sources and provide real-time analytics to shape the transaction. We aggregate more than £1.5tn of global demand in our system and make it easier for healthcare companies to start closing more deals.
Our customers use a range of search and bid-development tools within our platform to quickly find the most suitable opportunity and finalise a transaction. We have millions of contracts in our platform across countries for suppliers to bid, we have onboarded some of the world’s most innovative healthcare companies, we are continuing to raise money to build the world’s first digital marketplace, we have won innovation awards, and we’re backed by some of the best investors in the world.
And we are JUST GETTING STARTED.. .
Cloudsyte’s collaboration platform ends the era of manual and disjointed supply chain processes. The platform introduces a common workspace where supply chain teams can share data and information freely and in real-time with suppliers and logistics providers.
Cloudsyte helps eliminate duplicate work, increase the efficiency and speed at which supply chain teams respond to opportunities, all while reducing operational risks and cutting costs.. .
tacto enables procurement teams to focus on what matters while automating what does not. The team’s belief is that modern procurement deserves a modern solution to focus on strategic efforts instead of transactional activities.
Therefore, they are building the first intelligent automation engine for strategic procurement.. .
WillHire has completely reinvented the way modern contingent workforce programs attract, curate, and engage with today’s workers. We enables Fortune 1000 enterprises with significant spend in hiring contractors to reduce current spend by 20% while optimizing the most critical metrics – cost of hire and time to hire.
Our AI based private talent pool and CRM platform acts as an extension to Vendor Management Systems (VMS) bringing the modern day talent acquisition process into the contingent/temp labor programs which are traditionally 100% supplier(staffing agencies) dependent. We partnered with worlds leading VMS platforms like SAP Fieldglass, Coupa, Beeline, VectorVMS and several others; 100+ job boards partners, have built strategic partnerships with industry leading MSP’s Tapfin and several others, who are primarily responsible for the temp labor programs.
By combining employee referrals, automated pre-screening, reengagement automation and direct traction from online channels, organizations embrace a long-term talent strategy, we enable enterprises to reduce cost, save time and hire top talent.. .
Sastrix is a virtual Software-as-a-Service procurement service, helping finance and tech teams to optimize management and cost of SaaS tools in digital-first companies. Our team brings transparency to your existing setup, gets rid of underutilized licenses and negotiates with your suppliers to get the best deals for you.
Based on millions in analyzed spend, we typically save thousands of SaaS dollars within 15-20 minutes of your time. Obviously, our mission is to save more money than we cost, creating a win-win situation with our customers..
Guffa is an online multi-vendor marketplace based in Tripoli- Libya for almost all types of products. Guffa is also a logistics services company that enables shipping the online purchasing orders’ packages from sellers to end-users.
Guffa has so far partnered with 197 local Libyan companies and individuals, and more than 300 Asian and European suppliers. Guffa started in 2019 in Tripoli, and now it covers all Libya.
The company’s management is planning to enter the regional market in the near future. The business was founded and owned by “Sawie” Family, whose member “Akram Sawie” was named as Guffa Chairman in 2019, and the other member “Khawlah Sawie” as Guffa CEO in 2020..
CommonPage is the easy to use platform for collaborating with suppliers, partners, and customers. CommonPage eliminates confusion from external collaboration and promotes simplicity and accountability by providing a shared page to define requirements, get answers and negotiate alongside your business, suppliers and customers.
The CommonPage approach gives fast results and eliminates frustration and wasted time from all types of deals and agreements. Importantly only the instigator of the page needs a CommonPage license..
Inneate Hub operates one of its kind tech-enabled GPO for all procurement needs of a hospital. India has a $20 billion medical supplies industry, ailing from poor supply chain infrastructure and over-pricing.
We understand that the ability of healthcare institutions to deliver quality affordable healthcare will come from strong backend value chain. At Inneate, we contribute towards this cause by working along the value chain of medical supplies to enable affordable patient care..
GoodList is a platform to source sustainable raw materials and finished goods from vetted suppliers. The fashion industry has a universal imperative to dramatically reduce its negative impact on people and planet by positively evolving their supply chain.
We believe the journey begins with choosing the right sourcing partners who balance high-quality manufacturing with responsible operations. Our network brings together companies working towards this goal, including established suppliers of top sustainable brands, producers with credible environmental or social certifications, and innovators with ground-breaking ESG solutions.
To better facilitate global efforts, GoodList suppliers are benchmarked against the 17 United Nations Sustainable Development Goals, a blueprint to achieve a better and more sustainable future for all.. .
GTC provides business development, government procurement capture strategy, and integrated public affairs campaigns for select clients based on our extensive corporate, government, and political experience. GTC delivers world-class strategy and implementation at a much better value compared to other consultancies.
We are persistent in our execution and more agile than anyone else. We do not bait and switch..
Coined from the words sustainability and dictionary, Sustainary is a completely online platform focused on providing individuals, businesses, organizations, and governments the best possible methods of sustainability and efficiency. In building our strong database, we launched this smart and innovative platform through different phases, working with various features to operate.
One of the salient features of our collaborative platform is artificial intelligence, helping you identify opportunities and risks in the most efficient way possible. We value collaboration as we believe sustainability is not solely the work of one man alone—this is why in Sustainary, cooperation and sharing are keys to the best ideas, processes, and solutions.
Partnered with OneTreePlanted, a non-profit organization with global reforestation as its focus, Sustainary shows its care for relevant worldwide matters like the environment. For every service we deliver, and for every company we help to create something new, OneTreePlanted plants one tree.
Likewise, we share a considerable amount from our own earnings every month.. .
Anility is a risk identification software for builders and property developers to monitor the financial health and ongoing performance of their contractors. As a SaaS platform, Anility can scale up or down with your project load to ensure that you’re charged in line with the work you have on.
Anility compliments existing procurement and project management software with powerful tools to aid contractor selection and performance management.. .