Procurify Secures $50 Million in Series C

by Kay Aloha Villamor in October 18th, 2023

Procurify, a Toronto and Vancouver, British Columbia-based all-in-one spend management solution for mid-market organizations, secured $50 million in Series C funding.

SaaS Investors

The round was led by Ten Coves Capital, with participation from Export Development Canada (EDC) and existing investors, including Information Venture Partners and HarbourVest. 

Ten Coves Capital is a FinTech-focused growth equity firm, headquartered in Darien, Connecticut, and has a regional office in New York, New York. The firm seeks to invest in growth-stage fintech companies across payments, banking & lending, insurance, asset management & capital markets, and related data & business services sectors.

Procurify Use of Funds

The funding will support Procurify's global expansion, the launch of new payment capabilities, and the enhancement of its procure-to-pay experience using AI. The funding will help the company strengthen its core offering and leverage AI to enable data-driven decision-making for its customers.

About Procurify

Founded in 2013, Procurify is an all-in-one intelligent spend management platform, uniquely unifying purchasing, AP automation, and data analytics into one user-friendly platform. Procurify's platform consolidates workflows and data into a single system of record, providing real-time spend insights to organizations. Trusted by hundreds of customers across dozens of industries, Procurify manages over US$30 billion of global spend. Recognized as a purchasing leader by G2. Guided by a mission to offer unprecedented visibility and control over business expenses, Procurify is set on empowering organizations to harness unified spend data, unlocking millions in time and cost savings. 

Funding Details

Company: Procurify Technologies Inc. 

Raised: $50.0M

Round: Series C

Funding Month: October 2023

Lead Investors: Ten Coves Capital

Additional Investors:

Company Website: 

Software Category: Spend Management


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