Tropic Raises $2.1 Million in Series A

by Kay Aloha Villamor in August 17th, 2021

New York-based Tropic’s platform not only uncovers those savings but also brings a click-and-approve approach to buying software. Today, the company announced a $25 million Series A round of funding. Canaan Partners led the round with participation from Founder Collective and Mo Koyfman’s new fund.

Tropic will use the funding for R & D and deepen integrations with existing procurement tools in the cloud software ecosystem.

Company: Tropic Technologies, Inc.

Raised: $25.0M

Round: Series A

Funding Month: August 2021

Lead Investors: Canaan Partners 

Additional Investors: Founder Collective and Mo Koyfman

Company Website: https://tropicapp.io

Software Category: Buyer enablement platform

About the Company: Tropic is a buyer enablement platform, making the process of buying enterprise software easy and transparent. The equal opposite of sales enablement, which delivers data and tools to give salespeople power in the process. The tropic platform does this for buyers. Tropic matches businesses to the best vendors based on their unique needs. Buyers can selectively communicate with matched vendors they like, collaborate internally on the comparison, and negotiate with vendors in real-time in one place — no endless back-and-forth via email.

Source: https://techcrunch.com/2021/08/16/tropic-picks-up-25m-to-streamline-software-procurement-experiences/

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