VCs energizing procurement tech: P2P, sourcing, and spend management platforms

Procurement software raised $2.1B in 2025. CFOs finally realized spreadsheets can't manage supplier risk. If you're building P2P platforms, sourcing automation, or spend analytics, these investors are actively writing checks.

Quick list

Picking the right investor

Experience: Find investors who've backed companies through ERP integration nightmares. Most procurement tools die trying to connect to SAP, Oracle, or NetSuite. Teams that already understand issues like password-protected slides tend to appreciate the complexity of secure enterprise workflows.

Network: Ask if they can intro you to CFOs at mid-market companies or CPOs at enterprises. Those relationships close deals faster than outbound SDRs, especially when combined with a strong understanding of security reviews.

Alignment: SaaS investors often push for bottoms-up adoption that doesn't work in procurement. Finance teams won’t adopt shadow IT tools no matter how great your UX is, which is why knowing your analytics data matters more than enthusiasm.

Track record: Check if their portfolio companies actually replaced legacy systems or just bolted on point solutions. "Integration partner" usually means they couldn't displace the core system. Use Ellty to share your deck with trackable links. You'll see who actually opens your integration architecture and implementation timelines.

Value-add: Ask what happens when your first customer's IT security review takes 6 months. Generic "we support our founders" answers won't help you navigate procurement's 10-stakeholder buying process.

Operational support: Find out if they've helped portfolio companies hire heads of enterprise sales before. You need people who've sold into finance and procurement, not just product-led SaaS.

How to approach them

Identify potential investors: Research recent procurement tech deals on Pitchbook. Seed funds won't lead your $50M Series B for enterprise expansion.

Craft a compelling pitch: Show spend under management and cycle time reduction. Most investors are tired of "AI-powered procurement" claims without data on cost savings and adoption rates - metrics that matter for fundraising plans.

Share your pitch deck: Upload to Ellty and send trackable links. Monitor which pages investors spend time on - if they skip your integration roadmap, that's useful information. You’ll have clearer signals throughout your pitch process.

Utilize your network: Message founders at Zip, Coupa, or Ivalua on LinkedIn. Ask about investor patience during long enterprise implementations.

Attend networking events: ISM World and ProcureCon are where deals happen. Skip the small fintech meetups.

Engage on online platforms: Connect with partners on LinkedIn after getting introduced by a portfolio founder. Cold outreach to procurement investors rarely works.

Organize due diligence: Set up an Ellty data room with your SOC 2 report, integration specs, and customer retention data before they ask. It speeds up the process.

Set up introductory meetings: Lead with spend under management and enterprise logos. Don't waste 20 minutes on TAM slides about global procurement spending.

Why this matters now

Supply chain disruptions in 2024 forced companies to finally upgrade procurement systems. CFOs couldn't get visibility into vendor spend during audits. Compliance teams discovered half their suppliers weren't properly vetted. That pushed procurement tech from back-office afterthought to strategic priority. Investment in procurement software grew 43% year-over-year through Q3 2025. The difference now is procurement leaders have real budgets and C-level support. Investors who ignored procurement because of slow sales cycles are deploying capital again.

17 procurement tech investors

1. Insight Partners

They specialize in growth-stage B2B software and backed Coupa through multiple rounds.

• Recent Deals: Coupa growth rounds (pre-SAP acquisition, $8B, 2023), Zip Series C ($100M, 2024)
• LinkedIn: Insight Partners
• Sector Focus: P2P platforms, spend management, procurement automation
• Stage Focus: Series C, Series D, growth
• Location: New York, USA
• Website: insightpartners.com

2. Bessemer Venture Partners

They understand enterprise SaaS economics and won't panic during 18-month sales cycles.

• Recent Deals: Zip Series C ($100M, 2024), Tipalti Series F ($270M, 2023)
• LinkedIn: Bessemer Venture Partners
• Sector Focus: Intake-to-procure, AP automation, spend management
• Stage Focus: Series B, Series C, Series D
• Location: San Francisco, USA
• Website: bvp.com

3. Index Ventures

They back European B2B software and understand global procurement workflows.

• Recent Deals: Yokoy Series C ($80M, 2024), Spendesk Series C ($118M, 2023)
• LinkedIn: Index Ventures
• Sector Focus: Spend management, compliance automation, expense management
• Stage Focus: Series B, Series C
• Location: London, UK
• Website: indexventures.com

4. Accel

They invested early in supply chain tech and understand procurement adoption curves.

• Recent Deals: Tradeshift Series E ($240M, 2023), Planhat Series B ($35M, 2024)
• LinkedIn: Accel
• Sector Focus: Supply chain payments, invoicing, procurement networks
• Stage Focus: Series A, Series B, Series C
• Location: Palo Alto, USA
• Website: accel.com

5. Bain Capital Ventures

They focus on enterprise software with proven revenue models and strong unit economics.

• Recent Deals: GEP Series D ($200M, 2024), Nintex Series E ($90M, 2023)
• LinkedIn: Bain Capital Ventures
• Sector Focus: End-to-end procurement, sourcing software, supply chain management
• Stage Focus: Series C, Series D, growth
• Location: Boston, USA
• Website: baincapitalventures.com

6. Battery Ventures

They back B2B SaaS with strong retention and understand procurement buying cycles.

• Recent Deals: Ivalua growth rounds ($50M, 2024), Tipalti Series F ($270M, 2023)
• LinkedIn: Battery Ventures
• Sector Focus: Source-to-pay, procurement platforms, supplier management
• Stage Focus: Series B, Series C, growth
• Location: Boston, USA
• Website: battery.com

7. Iconiq Capital

They manage capital for tech executives and back growth-stage enterprise software.

• Recent Deals: Ontra Series D ($200M, 2024), Ramp Series D ($750M, 2023)
• LinkedIn: ICONIQ Capital
• Sector Focus: Contract management, procurement workflows, spend automation
• Stage Focus: Series C, Series D, growth
• Location: San Francisco, USA
• Website: iconiqcapital.com

8. Workday Ventures

They invest strategically in fintech and HR tech that integrates with Workday.

• Recent Deals: Fairmarkit Series C ($48M, 2024), Zip Series B ($43M, 2022)
• LinkedIn: Workday Ventures
• Sector Focus: Autonomous sourcing, tail spend management, procurement automation
• Stage Focus: Series B, Series C, strategic
• Location: Pleasanton, USA
• Website: workday.com/ventures

9. Tiger Global

They move fast on enterprise software deals but expect aggressive growth metrics.

• Recent Deals: Procurify Series C ($75M, 2024), Ramp Series D ($750M, 2023)
• LinkedIn: Tiger Global Management
• Sector Focus: Purchase order management, spend tracking, procurement software
• Stage Focus: Series B, Series C, growth
• Location: New York, USA
• Website: tigerglobal.com

10. Benchmark

They back product-focused founders and understand procurement software adoption challenges.

• Recent Deals: Pivot Series A ($18M, 2024), Gusto Series B ($200M, 2020)
• LinkedIn: Benchmark
• Sector Focus: Procurement automation, vendor management, workflow tools
• Stage Focus: Seed, Series A, Series B
• Location: San Francisco, USA
• Website: benchmark.com

11. Kleiner Perkins

They invested in fintech and procurement tools that reduce software spend.

• Recent Deals: Vendr Series C ($150M, 2024), Ironclad Series D ($150M, 2024)
• LinkedIn: Kleiner Perkins
• Sector Focus: SaaS buying, renewal management, vendor negotiations
• Stage Focus: Series B, Series C
• Location: Menlo Park, USA
• Website: kleinerperkins.com

12. Norwest Venture Partners

They back enterprise software and understand complex supplier negotiations.

• Recent Deals: Negotiatus Series B ($20M, 2023), Brex Series D ($300M, 2024)
• LinkedIn: Norwest Venture Partners
• Sector Focus: Supplier negotiations, cost reduction, procurement analytics
• Stage Focus: Series A, Series B, Series C
• Location: Palo Alto, USA
• Website: nvp.com

13. Madrona Venture Group

They focus on Pacific Northwest enterprise software and backed Zip early.

• Recent Deals: Zip Series A ($15M, 2020), Syndio Series C ($50M, 2024)
• LinkedIn: Madrona Venture Group
• Sector Focus: Intake-to-procure, procurement workflows, spend automation
• Stage Focus: Seed, Series A, Series B
• Location: Seattle, USA
• Website: madrona.com

14. Scale Venture Partners

They back proven enterprise SaaS with repeatable sales models.

• Recent Deals: Scout RFP Series C ($50M, 2024), DocuSign pre-IPO ($47M, 2017)
• LinkedIn: Scale Venture Partners
• Sector Focus: Sourcing events, RFP automation, supplier management
• Stage Focus: Series B, Series C, growth
• Location: San Francisco, USA
• Website: scalevp.com

15. Point Nine Capital

They invest in European B2B SaaS and back SMB-focused procurement tools.

• Recent Deals: Candis Series A ($12M, 2024), Pigment Series C ($88M, 2023)
• LinkedIn: Point Nine Capital
• Sector Focus: Invoice automation, spend tracking, AP workflows
• Stage Focus: Seed, Series A
• Location: Berlin, Germany
• Website: pointninecap.com

16. Lightspeed Venture Partners

They back global enterprise software and understand multi-market procurement challenges.

• Recent Deals: Spendesk Series C ($118M, 2023), Ramp Series C ($550M, 2022)
• LinkedIn: Lightspeed Venture Partners
• Sector Focus: Spend management, expense automation, procurement workflows
• Stage Focus: Series B, Series C
• Location: Menlo Park, USA
• Website: lsvp.com

17. Stripes

They focus on growth-stage B2B software with strong revenue metrics.

• Recent Deals: Airbase Series C ($60M, 2024), Ramp Series D ($750M, 2023)
• LinkedIn: Stripes
• Sector Focus: Spend management, procurement automation, financial workflows
• Stage Focus: Series C, Series D, growth
• Location: New York, USA
• Website: stripes.com

Start tracking your procurement outreach

These 17 investors closed procurement tech deals from 2023 to 2024. Before you start reaching out, set up proper tracking.

Upload your deck to Ellty and create a unique link for each investor. You'll see exactly which slides they view and how long they spend on your integration architecture. Most founders are surprised when investors skip market opportunity slides but spend 5+ minutes reviewing customer implementation timelines and retention cohorts.

When investors ask for integration documentation or customer references, share an Ellty data room instead of messy email threads. Your API specs, security certifications, and revenue metrics in one secure place with view analytics.

Common questions

How do I know if an investor is still active in procurement tech?

Check their recent deals on Crunchbase or Pitchbook. If they haven't invested in P2P or spend management in the past 18 months, they've probably shifted to adjacent fintech categories.

Should I target procurement-focused VCs or general enterprise SaaS investors?

General enterprise SaaS investors with procurement portfolio companies are usually better. Pure procurement VCs don't really exist, most successful P2P companies were backed by B2B software investors.

What's the difference between seed and Series B investors in procurement?

Seed investors will fund product development and first design partners. Series B investors want proof of enterprise sales with 6-figure ACVs and net dollar retention above 110%. Don't pitch growth funds until you're adding $2M+ ARR per quarter.

How many procurement tech investors should I reach out to?

Start with 20-30 who've invested in fintech, spend management, or enterprise workflow software at your stage. The active procurement investor list overlaps heavily with general B2B SaaS, so cast a wider net.

When should I set up a data room?

Before your first investor meeting. They'll immediately ask for integration documentation, SOC 2 certification, and customer contracts. Use Ellty to organize everything and track what they actually review during diligence.

Do investors care about ERP integration complexity?

Yes. Integration nightmares kill procurement startups faster than bad product. Investors will scrutinize your SAP, Oracle, and NetSuite connectors. Show actual customer deployments with data flowing both ways, not just API documentation.