Scout RFP, a San Francisco, CA-based provider of strategic eSourcing solutions, completed its $15.5m Series B financing.
The round, which brought total investment in the company to $27.25m, was led by Menlo Ventures with participation from New Enterprise Associates (NEA). In conjunction with the funding, Matt Murphy, Managing Director at Menlo Ventures, will join Scout’s Board of Directors.
Scout has carved out a name for itself in the industry by delivering eSourcing solutions that allow enterprises to source faster and make a bigger business impact.
The company intends to use the funds to expand its engineering efforts, extend its reach to serve global customer demands, and accelerate the innovation
of its sourcing platform.
Led by Alex Yakubovich, CEO, Scout RFP provides companies like Adobe, Intuit, CEMEX, Splunk, easyJet, ServiceNow, Cerner Corporation, and Zebra Technologies with a cloud-based automated sourcing and auction platform to streamline supplier selection, centralize data, collaborate cross-functionally, manage contracts, and make more informed purchasing decisions.