BuyerQuest

BuyerQuest

  • FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    OH
    Last Update:
    18 Oct, 2019

Description

FOCUS

PRODUCTS & SERVICES:
BuyerQuest is an enterprise Procure-to-Pay software that delivers eCommerce experience to procurement organizations globally relying on cognitive computing technology. BuyerQuest offers three core solutions: MarketPlace (a client-branded eCommerce site that global procurement teams use to host all contracted goods and services for their buyers; integrates with existing ERP/SRM system), eProcurement (an extension of the MarketPlace, which includes requisition creation; users can approve and order within BuyerQuest before being returned to their ERP/SRM system to receive and finish with payment), and Procure-to-Pay (a fully automated, work-flow enabled end-to-end solution that allows to flip requisitions to purchase orders, and purchase orders to invoices based on preconfigured rules, without manual intervention).
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Saudi Aramco, McDonald's, Steelcase, GE and The Home Depot.
EXISTING PARTNERSHIPS:
Watson, IBM Bluemix, Invoiceware, Taulia, OnBase, CGN, SpendSource Australia, SupCat, Solr
PRIMARY PROBLEM SOLVED:
Brings all elements of procurement into one platform, integrating disjoint processes to enable access to most optimal options, allow transparency, better manageability, and scalability in one interface.

PEOPLE

MEDICI analysts will analyze BuyerQuest soon

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$12 Million
DATE OF LAST FUNDING:
Feb 2017
TOTAL FUNDING COMMENT:
The company is planning to use the fund to pursue growth and increase market share (Feb 2017).
SEED & PRIOR FUNDING:
$1 Million
SEED CLOSED ON:
Jan 2012
FUNDING SERIES:
SERIES A
$11 Million Closed: Oct 2015
LISTED:
NO
COMMENT:
Debts financing: $4 M(Feb 2017)

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