Procurated is a technology company.
Procurated has raised $10.0M across 1 funding round.
Procurated has raised $10.0M in total across 1 funding round.
Procurated has raised $10.0M in total across 1 funding round.
Procurated's investors include Afore Capital, Atreides Management, Bessemer Venture Partners, Coughdrop Capital, Cupule Ventures, Earl Grey Capital, Industrious Ventures, LAUNCH, Primetime Partners, Ride Home Fund, SoftBank Capital, Tribeca Venture Partners.
Procurated is a technology company that builds a platform for public procurement, enabling verified professionals in government, education, nonprofits, and healthcare to access supplier ratings, reviews, and performance analytics.[1][2][3][4] It serves buyers seeking informed decisions and suppliers aiming to showcase performance, solving the problem of opaque vendor selection by aggregating peer insights—much like Yelp for public contracts—across a database of over 300,000 suppliers with 85,000+ verified users.[4][5] The company has shown strong growth momentum, raising $21.2 million total (including a Series B round), launching its AI-powered Canary tool for real-time risk alerts and trend analysis, and partnering with organizations like the National Association of Educational Procurement (NAEP).[1][2][5]
Procurated was founded in 2019 by David Yarkin, former top procurement officer for the state of Pennsylvania, who drew from his experience to address inefficiencies in supplier selection.[1][3][4] Frustrated by the lack of reliable, peer-sourced data—like struggling to find a good cheesesteak without reviews—Yarkin created a platform for verified public sector professionals to share candid feedback.[3][4] Early traction came quickly: entering live beta in summer 2019 with Pennsylvania's participation, it amassed 34,000 reviews from 10,000 suppliers by 2023, growing to 85,000+ buyers and partnerships with governments and schools nationwide.[3][4][5] Key leaders include Becca (leading product, engineering, and community) and others with backgrounds at Capital One, Amazon, and AI startups.[4]
Procurated rides the wave of GovTech modernization, where public sector procurement—handling over $2 trillion annually—shifts from opaque bids to data-driven, transparent decisions amid demands for efficiency, equity, and accountability.[4][5] Timing aligns with post-pandemic scrutiny on supplier performance and DEI goals, amplified by AI tools like Canary that turn unstructured feedback into predictive insights, much like how consumer review platforms disrupted retail.[1][3] Market forces favoring it include rising state/local budgets for tech, resistance to vendor self-references, and competition from legacy systems; Procurated influences the ecosystem by fostering a collaborative buyer community, elevating procurement's role, and enabling healthier supplier competition across 150,000+ profiles.[2][3][4]
Procurated is poised to dominate public procurement analytics as AI adoption accelerates in government, with Canary positioning it as the go-to for risk mitigation and diverse sourcing.[1][5] Expect expansion into more federal contracts, deeper integrations with procurement software, and scaling to millions of reviews as NAEP-like partnerships proliferate—trends like fiscal pressures and AI ethics will shape its path, potentially evolving it into a full-suite vendor management leader.[1][3] This builds on its core strength: empowering buyers to connect with confidence, turning every contract into a step toward better public outcomes.[4][5]
Procurated has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Series A in November 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2021 | $10.0M Series A | Afore Capital, Atreides Management, Bessemer Venture Partners, Coughdrop Capital, Cupule Ventures, Earl Grey Capital, Industrious Ventures, LAUNCH, Primetime Partners, Ride Home Fund, SoftBank Capital, Tribeca Venture Partners, Dharmesh Shah, Immad Akhund, Narendra Rocherolle, Rob May |