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 27 days ago

Sourcing software provider Keelvar raises $18M from Elephant and Mosaic – TechCrunch

Quick Summary

Step forward, Cork, Ireland-based Keelvar, strategic sourcing software company, which today announces that it has raised $18 million in Series A funding led by Elephant and Mosaic Ventures with participation from Paua Ventures, enabling the company to further expand into enterprise markets. Keelvar provides large enterprises with ‘Advanced Sourcing Optimization’ software and ‘Intelligent Sourcing Automation’ that uses AI to fully automate tactical buying processes. Now it’s time to hit the accelerator and scale-up.”Speaking about the investment, Peter Fallon, partner at Elephant noted: “Keelvar’s sourcing optimization and automation software delivers meaningful ROI to enterprise sourcing and procurement organizations globally. The global procurement software market is currently growing at a CAGR of 9.1%, and expected to reach $7.3 billion by 2022 (IDC). With COVID-19 pushing businesses to embrace these new technologies, we’re excited to partner with Keelvar on the next phase of growth.”

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