Scout RFP, a US-based cloud-based bidding platform backed by conglomerate Alphabet’s corporate venturing division GV, has received $9m in series A capital from venture capital firm New Enterprise Associates (NEA).
Scout operates a cloud-based procurement platform that helps businesses source materials and services. The product lets companies run bidding auctions, conduct multi-round negotiations and track savings.
The platform is aimed at a range of sectors, including software, manufacturing, healthcare and retail.
NEA previously led a $2.75m seed round for the company in January 2015 that also included GV (then known as Google Ventures), Zapis Capital and assorted angel investors.
Chetan Puttagunta, partner at NEA and board member of Scout, said: “As the leading investor, we saw a rare opening in the market for Scout RFP to become the de facto platform for strategic supplier sourcing.
“Scout’s intuitive product, agile development, devotion to customers and rapidly growing user base made us quick to seize the opportunity. We are extremely excited to partner with Scout to deliver a best-of-breed sourcing solution to the market.”