US-based procurement analytics software developer Suplari has closed a $10.3m series A round that included Workday Ventures, the corporate venturing arm of enterprise management software provider Workday.
Venture capital firm Shasta Ventures led the round, which also featured Madrona Venture Group, Amplify Partners and Two Sigma Ventures, a branch of investment management firm Two Sigma.
Founded in 2016, Suplari markets cloud-based enterprise software that allows businesses to uncover efficiencies by probing their procurement transactions in real time.
The platform automatically scans records such as invoices or corporate credit card statements, using artificial intelligence to present the results on an accessible interface that encourages collaboration across workforces.
Ravi Mohan, managing director of Shasta Ventures, will join Suplari’s board of directors in connection with the investment. The company has now raised a total of $13.4m in funding, having received $3.1m in a February 2017 round backed by Madrona and Amplify.