Canada-based product data provider Tealbook completed a $14.4m series A round yesterday featuring financial information provider S&P Global and Workday Ventures, the investment arm of enterprise software producer and Workday.
Venture capital firm RTP Global led the round, which included BDC Capital, Grand Ventures, Reciprocal Ventures, Refinery Ventures, Stand Up Ventures and debt financing from Silicon Valley Bank.
Tealbook’s cloud-based platform leverages artificial intelligence and machine learning to help enterprise customers source the best products for their business. The funding will be allocated to product innovation, sales and marketing.
The company had raised a total of $7.7m as of a $5m seed-plus round in January 2020 led by Refinery Ventures and backed by Workday Ventures, Grand Ventures, BDC Capital’s Women in Technology Venture Fund and existing investor Stand Up Ventures.
Mark Peek, managing director at Workday Ventures, said: “Tealbook’s supplier data and intelligence platform is complementary and strategic to Workday as we expand further into the office of the chief procurement officer.
“Workday began our investment journey and partnership with Tealbook in December 2019, joining its seed-plus round. We have been impressed with the quality of the team, technology, and software agnostic go-to-market strategy, which is why we are participating in the series A round.”
