Procurify, a Vancouver, Canada-based spend management platform, closed its approx. $20m Series B financing.
The round was led by Information Venture Partners, with participation from Runa Capital, HarbourVest Partners, Manulife and BC Tech Fund, managed by Kensington Capital Partners.
The company intends to use the funds to expand operations, and its sales and marketing efforts globally.
Founded in 2012 by CEO Aman Mann, CTO Eugene Dong and CRO Kenneth Loi, Procurify provides a SaaS-based software platform for organizations to manage their expenditures by providing a combination of accessible data, process and manageable controls to streamline the request to approve process.
The company already has over $7bn [USD] of its clients’ spend management passing through its platform.