Contingent, a London, UK-based supplier Insight platform that makes procurement easy for the whole business, announces it has completed an $8.2 million in funding round.
The round was led by Octopus Ventures, one of Europe’s largest and most active early-stage investors, with participation from Connect Ventures, Concentric, Seedcamp, Ascension, and Working Capital Innovation Fund.
The funding will be used to continue building out Contingent’s suite of modular SaaS applications, with a particular focus on meeting the growing demand for more transparent and ethical supply chains.
In addition, with strong global demand for its services, the company is actively looking to expand into the US and across Europe and will be rapidly hiring into its product, engineering, and commercial teams over the coming months.
Company: CONTINGENT AND FUTURE TECHNOLOGIES LTD.
Funding Month: March 2022
Lead Investors: Octopus Ventures
Additional Investors: Connect Ventures, Concentric, Seedcamp, Ascension, and Working Capital Innovation Fund
Company Website: https://www.contingent.ai/
Software Category: Procurement Software
About the Company: Founded in 2020 by Tai Alegbe and Raj Wilkhu, Contingent is a SaaS company that builds procurement software. The platform gives an analysis of suppliers and businesses to help follow regulations, reduce third-party risk exposure, and improve efficiency. Contingent’s mission is to fundamentally change how procurement is done, helping companies reduce friction and increase resilience while empowering procurement teams to make the right choices and partner more closely with the wider business. Contingent’s global customer base has been growing at 10x p.a. and includes companies such as Monzo, Seagate, Huel, Barratt Developments plc, and HM Government. Today, the Contingent platform covers a wide range of insight domains to meet procurement, third party risk, and regulatory requirements around financial stability, ownership, legal, compliance, quality, cyber, and ESG (Environmental, Social & Governance).