scoutbee Inc., a Berlin, Germany- and Washington D.C.-based supplier discovery platform, closed a $60m Series B funding.
The round, which brought total venture capital funding to date to $76m, was led by Atomico with participation from Lakestar and Next47, and existing investors HV Holtzbrinck Ventures, 42CAP and Toba Capital. As part of this round, Atomico Partner Hiro Tamura will join the company’s board.
The company intends to use the funds to accelerate R&D, customer growth, and expand the team.
Founded in 2015 by procurement, operations and engineering experts and led by Gregor Stűhler, scoutbee provides a SaaS based smart procurement technology platform used to multinationals including Audi, Airbus, Caterpillar and Bosch, as well as 75+ other companies worldwide, to make confident strategic sourcing and purchasing decisions.
By leveraging AI and Big Data, scoutbee generates insights and transparency to drive valuable and confident business relationships. At the centre of its core products is ARTIMIS – the artificial intelligence that continually mines vast amounts of data and centralizes details about suppliers and products across hundreds of dimensions and across languages.
The company uses ARTIMIS and its insights throughout its core product Streamline – a SaaS platform that equips procurement professionals to manage an entire RFI and RFP process from start to finish.
The final unit in the product offering is ‘DeepSee’ – a company knowledge-base that compiles customer-specific data lakes. DeepSee leverages external data, external applications like Dun & Bradstreet and third-party data. DeepSee profiles offer live data insights.