Procurify seeded with $4 mln from VCs, Hootsuite executives
By: Kirk Falconer
Procurify, a cloud-based procurement management solution, has received US$4 million in seed funding. Investors in the round included Point Nine Capital, Nexus Venture Partners and the Business Development Bank of Canada (BDC). Ryan Holmes andSteve Johnson, CEO and chief revenue officer of Hootsuite, also invested and have become advisors to the Vancouver-based company. Procurify’s software-as-a-service platform helps small businesses manage both direct and indirect spending. It said the proceeds of the latest round will be used to invest in sales, marketing and product development.