Keelvar provides an AI-driven procurement and supply‑chain analytics platform that automates bidding, supplier selection, and award recommendations using optimization, game theory, and automated sourcing bots. The platform cleanses and analyzes supplier and bid data to evaluate multiple awarding scenarios and run spot bidding or mini-tender events. Keelvar has launched air and ocean sourcing bots and emphasizes automation to help customers respond to volatile transportation and sourcing conditions. The company was founded in 2012 by Alan Holland and operates as a remote-first organization that has doubled its workforce. Keelvar currently employs about 85 people, plans to grow headcount to over 130 by year-end, serves over 70 enterprise customers, and counts “thousands” of paying users. Keelvar offers "Advanced Sourcing Optimization" and "Intelligent Sourcing Automation" software that uses AI and sourcing bots to fully automate tactical buying processes. The product set is designed to autopilot sourcing projects, making procurement faster, easier, and cheaper. Keelvar manages more than $90 billion in spend annually for enterprises across major industries. Customers named in the article include Siemens, Coca-Cola, Novartis, BMW and Samsung. The company competes with e-sourcing providers such as Coupa and Jaggaer. Keelvar plans to use its new funding to expand into enterprise markets and grow across Europe and the U.S., anticipating increased demand as COVID-19 disrupts supply chains.

Total raised

$42M

Funding rounds

2

Latest round

Series B

Latest activity

May 2022