Ignite Procurement offers a data-driven platform for procurement teams to analyse and optimise purchasing decisions, with an emphasis on cost reduction and sustainability. Launched in 2018, the platform has been used to analyse more than $105 billion of purchases. The company reports approximately 150% ARR growth over the last year and has a team of about 60 people, including staff in a recently opened Poland office. CEO Sigbjørn Nome says the product is resilient in tougher economic conditions because it focuses on cost optimisation. Ignite positions itself to benefit from companies’ increased focus on cutting costs amid inflation and global economic uncertainty. Since late 2019, Ignite has raised $11.6 million (per the article).

Total raised

$7M

Funding rounds

1

Latest round

Series A

Latest activity

Jun 2022