Procurify, a cloud procurement software firm, has raised $1.2 million.
The seed round came from a diverse lineup of investors, including Silicon Valley's Nexus Venture Partners, BDC, and Dallas Mavericks owner Mark Cuban.
The Vancouver-based startup says it will use the money to develop new features for its products, grow its 22-person team, and boost its customer base, which now reaches 40 countries.
“This investment gives us the opportunity to expand both the web and mobile platforms and bring Procurify to new heights,” said Eugene Dong, co-founder and CTO of Procurify.
The Canadian company graduated from Vancouver-based startup accelerator GrowLab in 2013 after joining the program's Winter 2012 cohort alongside ePact, SpaceList, and others. BDC offered the startup a $150,000 convertible note upon graduating, which it accepted. Last year the CIX named it one of the 20 hottest tech companies in Canada.
"Procurify is a small, young group of entrepreneurs with a big dream. We are taking our platform to a global level with this investment and working with clients ranging from small businesses to Fortune 1000 companies," added Aman Mann, cofounder and CEO.
"Procurify is used in industry verticals that range from technology to manufacturing to service and beyond. We are revolutionizing the enterprise software space by bringing consumer-style usability, design and simplicity to business software," Mann continued. "We want to give people tools they love to use, to help them discover true passion and inspiration in the work that they use them for.”