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A procurement platform that streamlines RFPs and bidding processes for government procurement teams, focused on public sector purchasing.
Bonfire has raised $10.0M across 2 funding rounds.
Key people at Bonfire.
Bonfire has raised $10.0M in total across 2 funding rounds.
Bonfire is a Waterloo Regional Municipality, Ontario-based software company that provides a specialized procurement platform designed to streamline request for proposal and bidding processes for government purchasing teams. The enterprise application focuses exclusively on public sector organizations, offering digital tools to manage solicitation creation, vendor evaluation, and supplier engagement across various municipal, state, and regional agencies. Operating with a current workforce of approximately 95 employees, the organization replaces traditionally manual and paper-based purchasing workflows with a centralized, secure cloud infrastructure. This digital transition allows public institutions to maintain strict regulatory compliance, track historical spending data, and facilitate transparent communication with external vendors during the competitive bidding lifecycle. By standardizing the evaluation framework, the software assists procurement professionals in scoring proposals and awarding public contracts more efficiently. The technology company was officially founded in 2012.
Bonfire has raised $10.0M in total across 2 funding rounds.
Bonfire's investors include Battery Ventures, Harrison Metal, Interlock Partners.
Bonfire has raised $10.0M across 2 funding rounds. Most recently, it raised $8.0M Bonfire Interactive - Series A in June 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2017 | $8M Series A | — | Battery Ventures, Harrison Metal | Announced |
| Mar 1, 2014 | $2M Seed | — | Interlock Partners | Announced |
Bonfire is a next-generation eSourcing platform designed to reimagine RFPs (Request for Proposals) and bidding processes for government procurement teams. It streamlines RFx (Request for Information, Proposal, Quote) and bidding workflows, enabling government agencies to make faster, more informed decisions while managing compliance and high workloads. Bonfire’s cloud-based platform offers powerful evaluation tools and an intuitive user experience, helping procurement teams run projects over 50% faster and handle over a billion dollars in supplier selection decisions monthly. It primarily serves government procurement teams, which control about 18% of GDP, making it a critical tool in public sector sourcing and contract awarding[1][5].
Founded in 2012 and part of Y Combinator’s Winter 2015 batch, Bonfire was created to address inefficiencies in government procurement processes. The company was led by Corry Flatt, who served as CEO and founder before moving on to other ventures. Bonfire evolved from basic eProcurement automation tools to a comprehensive platform that supports collaboration, compliance, and deep evaluation analytics. Its growth was marked by adoption from major public sector entities, including cities like Fort Worth and Harris County, which transitioned to Bonfire’s digital bidding platform to replace traditional paper-based processes[1][2][3].
Bonfire rides the growing trend of digital transformation in government procurement, a sector traditionally burdened by manual, paper-based processes and complex compliance demands. The timing is critical as governments worldwide seek to increase transparency, efficiency, and accountability in spending. Market forces such as increasing regulatory scrutiny, demand for faster procurement cycles, and the rise of cloud-based SaaS solutions favor platforms like Bonfire. By digitizing and streamlining public sector sourcing, Bonfire influences the broader ecosystem by enabling more competitive, fair, and data-driven government contracting[1][2][5].
Looking ahead, Bonfire’s future likely involves expanding its footprint across more government agencies and integrating advanced analytics and AI to further enhance decision-making in procurement. Trends such as increased government digitization, demand for transparency, and supplier diversity initiatives will shape its journey. As public sector procurement continues to modernize, Bonfire’s influence may grow, potentially setting new standards for how governments source goods and services efficiently and fairly. Its evolution from a startup to an acquired leader in govtech underscores its pivotal role in transforming public procurement[1][5].
Key people at Bonfire.
