The start-up, which has clients in 58 countries, will use the fresh capital to invest more in sales, marketing and product development
Bengaluru: Canadian software start-up Procurify has raised $4 million in seed funding from India-based venture capital firm Nexus Venture Partners, Berlin-based Point Nine Capital, and the Business Development Bank of Canada (BDC).
The start-up, which has clients in 58 countries, will use the fresh capital to invest more in sales, marketing and product development. It helps companies manage their direct and indirect spending better.
“Procurify is re-imagining enterprise spend management for the mobile era," Jishnu Bhattacharjee, managing director at Nexus Venture Partners, said in a statement.
For instance, using Procurify has helped educators at San Francisco-based school chain AltSchool save an hour per week of their time and save more on school supplies, said Sue Yoon, vice-president of finance at AltSchool.
Nexus Venture Partners manage over $1 billion, with a portfolio of over 60 companies across sectors. Its investments include Pubmatic, Druva, Aryaka and Snapdeal.com.