Simfoni, a San Francisco, CA-based digital solutions provider for Spend Intelligence and Spend Automation, raised $15m in Series B funding.
The round was led by Peakspan Capital.
The company intends to use the funds to expand sales and marketing efforts.
Led by Chirag Shah, Co-founder and Executive Chairman, and Jason Stern, CEO, Simfoni provides Chief Financial Officers with an Artificial Intelligence-powered platform to automate and streamline key aspects of the procurement process, while reducing third-party expenditures across the entire organization. The company currently has over 100 customers across a wide range of industry sectors, including retail, financial services, manufacturing, technology, healthcare, and education, among others.
Simfoni has offices in the USA, Europe and the Middle East.