Scout RFP provides a sourcing and supplier engagement platform that helps procurement teams streamline processes, manage a unified pipeline of projects, and collaborate with stakeholders and suppliers. The platform manages over $20 billion in project spend for more than 175 global brands and is used across 117 countries, with customers including Beam Suntory, Conagra, Gilead, VMware, Starbucks and Zebra Technologies. Founded in 2014 by CEO Alex Yakubovich and based in San Francisco, the company raised $33M in a Series C. Scout plans to use the funds to accelerate sales and marketing, invest in product and engineering to drive innovation, and expand its presence in verticals such as financial services, pharma and biotech, manufacturing, and healthcare. Alex Niehenke from Scale Venture Partners will join Scout’s board of directors as part of the round. With the Series C, Scout has raised a total of $60.3M to date. Scout RFP provides procurement software designed to replace spreadsheet-driven sourcing processes by automating sourcing and spend management. The platform is subscription-based and supports features such as “reverse auctions,” where suppliers compete on price to win business. Clients include Smucker’s and Salesforce, who pay on a recurring basis. CEO Alex Yakubovich says the product’s goal is to automate the sourcing process and provide one system of record for procurement projects. The company positions itself as an alternative to legacy providers like Ariba and Coupa by focusing on a neglected procurement category. Scout is headquartered in San Francisco and has 42 employees. It previously raised about $12 million from NEA and Google Ventures. Scout RFP provides a cloud-based automated sourcing and auction platform that helps organizations make informed purchasing decisions. The company is led by CEO Alex Yakubovich and is based in San Francisco, CA. Its solution is used by brands including Splunk, Jo-Ann Stores, Intuit, VSP and Cerner Corporation. In total Scout RFP serves over 80 brands across 45 countries in software, manufacturing, healthcare and retail verticals. The company raised $9M in Series A funding and intends to use the funds to continue expanding operations. The platform focuses on enabling strategic sourcing and auction workflows for enterprise buyers. Scout RFP offers a cloud-based sourcing-as-a-service platform that automates several labor-intensive aspects of requesting, bidding, sorting and pitching new projects. Its service uses a one-page bid template to let buyers create a proposal in just a few minutes and centralizes data to simplify reviewing and analysis. The company targets large-business customers and intends to expand its product for those clients. Scout RFP said it will use the new financing to build out its engineering team and expand the product. The company raised $2.75 million in seed financing from New Enterprise Associates, with participation from Google Ventures and Zapis Capital. Scout RFP is based in Cleveland and was founded in 2013; it was initially backed by president Stan Garber and CEO Alex Yakubovich, according to CrunchBase data cited in the article.

Total raised

$60M

Funding rounds

4

Latest round

Series C

Latest activity

Jan 2019