Suplari sits on top of enterprise systems and uses AI and machine learning to analyze procurement and spending data, providing recommendations for cost savings, risk exposure, and other efficiency gaps. It positions itself as an alternative to compiling data in Excel or Tableau and having teams of analysts manually comb through information. The platform automates analysis and issues proactive, next-step recommendations so employees can focus on strategic work. Suplari has more than 20 customers, including Hulu, Nordstrom, and 21st Century Fox. The company is deeply partnered with Workday, which is an investor, partner, and customer. Headcount is past 40 people and the company plans to add another 15 employees over the next year; total funding to date is $18.6 million. Suplari applies advanced artificial intelligence to procurement, giving enterprises a cloud-based service that analyzes purchasing data across platforms and formats. The platform ingests contracts, purchasing records, product-usage information and corporate credit-card accounts to identify savings opportunities and compliance or fraud issues. Suplari runs on top of existing enterprise systems to proactively surface the highest-value opportunities for CFOs and chief procurement officers. The company reports that a number of Fortune 1000 customers have signed up for its service. Suplari says it has helped customers reduce software licensing fees by 33% and consolidate $200 million in professional services and temporary labor suppliers. The company announced a $10.3M Series A to accelerate adoption of its AI procurement platform. Suplari is a Seattle-based startup developing an intelligent application focused on a unique, largely unmanaged enterprise data set. The company is operating in stealth and declined to reveal technical details about its product. Suplari raised $3.1 million from Madrona Venture Group and Amplify Partners and said the funding will be used to bring its first product to market. The founding team includes CEO Nikesh Parekh, CTO Jeff Gerber, and CPO Brian White, who have prior experience at Market Leader, Trulia, iConclude, Apptio, Amazon Web Services and SkyTap. Suplari is working out of Madrona's Seattle office and planned to employ 10 people by the end of 2017. Madrona positioned the investment alongside other "intelligent app" startups that combine data and machine learning to deliver real-time, actionable insight.

Total raised

$18M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2019