Simfoni provides a next-generation digital procurement platform focused on tail spend management, combining AI-enabled spend analytics, eSourcing, sourcing optimization, spend automation, and payment consolidation. The company emphasizes a human-centric user experience that integrates with existing enterprise systems to reduce offline workarounds. Simfoni and consulting partner Kearney plan to expand a turnkey tail spend management solution that uses a pay-as-you-save pricing model to make the program more accessible. The partnership aims to combine Simfoni’s technology with Kearney’s program management and strategic procurement expertise to drive sustained savings and easier ESG and supplier-diversity compliance. Simfoni says it operates globally with offices in the USA, Europe, Australia, and the Middle East and works with large enterprises to improve procurement outcomes. Financially, the company announced a Series A-2 investment in 2023 and previously raised a $15M Series A in 2021 led by PeakSpan Capital. Simfoni provides an AI-powered platform that helps CFOs automate and streamline key aspects of the procurement process and reduce third-party expenditures across the organization. The company's core product focuses on spend intelligence and spend automation to identify savings and improve procurement efficiency. Simfoni serves over 100 customers across industries including retail, financial services, manufacturing, technology, healthcare, and education. The business is led by Co-founder and Executive Chairman Chirag Shah and CEO Jason Stern. Simfoni has offices in the USA, Europe and the Middle East. The company announced a $15M Series B in July 2021 and intends to use the funds to expand sales and marketing efforts.

Total raised

$15M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2021