Absolute Commerce Raises $200K

Absolute Commerce, a Providence, Rhode Island-based technology company, raised 200k in funding.

Backers included The Slater Technology Fund, which invested an additional $100k bringing its total investment in the startup to $350k, and a private investor who put in a matching $100k.

Founded in 2012 by Kevin Wilbur, a former GE Capital executive with experience working with Global 2000 organizations to enhance operational effectiveness and efficiency in the purchase-to-pay arena, Absolute Commerce has developed an e-procurement catalog platform that combines pre-negotiated supplier catalogs with rich product content and search capabilities to allow large companies to purchase the goods and services they need, control costs, minimize risk, and increase their competitive advantage.

The company has been recognized as a Certified Partner of Oracle, and recently launched a partnership with Basware, a provider of e-invoicing and purchase-to-pay solutions, to integrate catalogs into their procurement offerings and sell its solution to their North American customer base.



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