Keelvar, a Cork, Ireland-based strategic sourcing software company, raised $18m in Series A funding.
The round was led by Elephant and Mosaic Ventures with participation from Paua Ventures.
The company intends to use the funds for expansion plans for Europe and the US and increase investment in developing its core technologies and solutions. New roles will be filled in engineering, artificial intelligence/machine learning, product development, professional services, design, sales and marketing.
Led by Alan Holland, CEO, Keelvar provides large enterprises with Advanced Sourcing Optimization software and Intelligent Sourcing Automation that uses AI-enabled Sourcing Bots to fully automate tactical buying processes. The company currently manages over $90bn in spend annually for enterprises in all major industries. Customers include blue chip companies such as Siemens, Coca-Cola, Novartis, BMW and Samsung. Keelvar has regional offices in Dublin, Dallas, Pittsburgh, London, and Berlin.