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§ Private Profile · Vancouver, BC, Canada
Procurify is a technology company.
Procurify provides an AI-powered procure-to-pay platform for mid-market organizations. This integrated software automates procurement, accounts payable, expense management, and payments, delivering real-time spend visibility and control. Key features encompass automated purchase requests, intelligent approvals, invoice processing, and robust vendor management, all optimizing financial workflows.
Aman Mann, Kenneth Loi, and Eugene Dong co-founded Procurify, observing how fragmented spend management hindered growing businesses. This insight drove them to build a unified system, empowering organizations to gain command over financial operations from inception. Their combined expertise aimed to transform manual, opaque processes into streamlined, transparent workflows.
Procurify serves mid-market companies seeking financial governance and operational efficiency. Its vision is to equip organizations with intelligent spend management, fostering informed decision-making and comprehensive spend intelligence. The company continually refines its platform, addressing evolving business needs for complete financial control and strategic financial leadership.
Procurify has raised $102.2M across 6 funding rounds.
Procurify has raised $102.2M in total across 6 funding rounds.
Procurify is a Vancouver-based technology company that builds an AI-powered procure-to-pay platform for mid-market organizations, automating purchasing, approvals, accounts payable (AP), and spend management to provide real-time visibility and control over business spending[1][2][3][4]. It serves sectors including technology, healthcare, biotech, manufacturing, consumer packaged goods, education, nonprofits, and charter schools, solving the problem of inefficient, fragmented spend processes by unifying intake-to-pay workflows, enforcing policies, and identifying cost savings—managing over $100 billion in spend for hundreds of customers worldwide[1][2][3]. Named the #1 mid-market purchasing software by G2, Procurify integrates with ERPs like NetSuite, Sage Intacct, Microsoft Dynamics 365, and QuickBooks, delivering growth through AI enhancements and recent funding for expansion[3][5][7].
Founded in 2012 in Vancouver, Canada, Procurify emerged to simplify spend management beyond basic purchase orders and expense controls, targeting mission-driven organizations with streamlined workflows and real-time data[2][6]. Key leadership includes CEO Aman Mann, who has driven AI integration following a Series C funding round backed by CIBC Innovation Banking's US$20 million growth capital in recent years to fuel product innovation and market expansion[7]. Early traction built on its procure-to-pay focus, evolving from core automation to a comprehensive AI-enhanced platform trusted for $30-100 billion in managed spend, with pivotal moments like AP module upgrades and ERP integrations solidifying its mid-market leadership[1][3][7].
Procurify rides the wave of AI-driven procurement transformation, capitalizing on mid-market demand for end-to-end spend automation amid rising operational costs and regulatory pressures like audits and compliance[1][5][7]. Its timing aligns with generative AI adoption in fintech, enabling faster AP/invoicing and predictive analytics that outpace legacy tools, while market forces like ERP proliferation and remote work favor its mobile, integrated approach over point solutions from competitors like Zycus, Payhawk, or Vroozi[2][7]. By influencing the ecosystem through $100B+ managed spend and innovations like unified digital trails, Procurify empowers revenue-focused orgs to redirect savings to growth, setting a standard for intelligent spend management in fragmented procurement software[1][3][4][7].
Procurify is poised for accelerated growth via AI deepenings, such as expanded AP capabilities and global market entry, building on CIBC funding to capture more mid-market share in a procure-to-pay space projected to boom with automation trends[7]. Trends like AI analytics, multi-ERP scalability, and vendor ecosystems will shape its path, potentially evolving influence through partnerships and larger enterprise plays while maintaining mid-market seamlessness. As the go-to for proactive spend control, Procurify redefines procurement efficiency, turning spend data into strategic advantage for its customers[1][4].
Procurify has raised $102.2M in total across 6 funding rounds.
Procurify's investors include CIBC Innovation Banking, Ten Coves Capital, Information Venture Partners, Tribe Capital, 7 Gate Ventures, Hex Capital, LOI Venture, Lance Tracey.
Procurify has raised $102.2M across 6 funding rounds. Most recently, it raised $20.0M Other Equity in October 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 30, 2024 | $20M Venture Round | CIBC Innovation Banking | — | Announced |
| Oct 17, 2023 | $50M Series C | TEN Coves Capital | — | Announced |
| Jun 21, 2019 | $20M Series B | Information Venture Partners | — | Announced |
| Nov 1, 2016 | $7M Series A | — | Tribe Capital | Announced |
| Jul 1, 2015 | $4M Seed | — | 7 Gate Ventures, HEX Capital, LOI Venture, Lance Tracey | Announced |
| Apr 17, 2014 | $1.2M Seed | — | — | Announced |