New Enterprise Associates
New Enterprise Associates is a venture capital firm founded in 1977 and based in Menlo Park, California, with offices in the United States, India and China. It makes investments across technology and healthcare startups at multiple stages, from seed to growth, including software, cloud, data, internet services, fintech, AI, e-commerce, and enterprise technology, as well as healthcare information technology, life sciences, medical devices, and biopharma. It also considers energy technology and infrastructure opportunities, such as solar, batteries and smart grids. The firm pursues a global approach, with activity in the United States, Asia and other regions, and supports companies through rounds of financing ranging from small to sizable investments as they scale. NEA focuses on building portfolios in software, IT services, consumer technology, and healthcare technology, backing ambitious entrepreneurs across sectors and geographies.
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Past deals in Procurement
Arkestro
Series A in 2022
Arkestro is a technology company specializing in predictive procurement software designed to enhance savings and supply chain performance for businesses. Their platform pre-embeds preferred outcomes into any system or process, allowing companies to orchestrate activities across various systems using instant forecasts and real-time collaboration. By leveraging artificial intelligence, Arkestro's cloud-based automated negotiation software optimizes procurement savings and increases vendor participation, leading to significant cost reductions in managed services and raw materials solicitations.
Scout RFP
Series B in 2017
Scout RFP Inc. is a cloud-based sourcing platform that specializes in automating the enterprise buying process for both buyers and suppliers. Founded in 2013 and headquartered in San Francisco, California, the platform facilitates the management of requests for proposals and buying events across various sectors, including engineering, finance, and software development. By streamlining procurement processes, Scout RFP enhances collaboration among stakeholders and suppliers, providing improved visibility and centralized management of projects. The platform equips Chief Procurement Officers with the necessary tools to drive profitability and transform their organizations, ultimately leading to better business outcomes. In December 2019, Scout RFP became a subsidiary of Workday, Inc.
Scout RFP
Venture Round in 2016
Scout RFP Inc. is a cloud-based sourcing platform that specializes in automating the enterprise buying process for both buyers and suppliers. Founded in 2013 and headquartered in San Francisco, California, the platform facilitates the management of requests for proposals and buying events across various sectors, including engineering, finance, and software development. By streamlining procurement processes, Scout RFP enhances collaboration among stakeholders and suppliers, providing improved visibility and centralized management of projects. The platform equips Chief Procurement Officers with the necessary tools to drive profitability and transform their organizations, ultimately leading to better business outcomes. In December 2019, Scout RFP became a subsidiary of Workday, Inc.
Scout RFP
Seed Round in 2015
Scout RFP Inc. is a cloud-based sourcing platform that specializes in automating the enterprise buying process for both buyers and suppliers. Founded in 2013 and headquartered in San Francisco, California, the platform facilitates the management of requests for proposals and buying events across various sectors, including engineering, finance, and software development. By streamlining procurement processes, Scout RFP enhances collaboration among stakeholders and suppliers, providing improved visibility and centralized management of projects. The platform equips Chief Procurement Officers with the necessary tools to drive profitability and transform their organizations, ultimately leading to better business outcomes. In December 2019, Scout RFP became a subsidiary of Workday, Inc.
Technical Communities
Series D in 2006
Technical Communities, doing business as TestMart, provides marketing and distribution services focused on government markets. It helps organizations that sell to U.S. government agencies, prime federal contractors, state and local governments, and educational institutions by offering GSA contract management and consulting, sales and channel support, and direct marketing. The company operates online marketplaces and content sites to assist government and prime contractor buyers in locating products and managing procurement, and it acts as an advertising partner for lead generation, brand awareness, and market research. Leveraging a B2B and B2G track record and a proprietary database of millions of prospects, Technical Communities also offers resources for IT certification testing, training, and continuing education. Headquartered in San Bruno, California, the firm focuses on growing sales for customers in government-related markets.
Perfect Commerce
Venture Round in 2005
Perfect Commerce is a provider of software-as-a-service (SaaS) spend management solutions and an open supplier network designed for small and medium-sized organizations. The company offers a range of solutions, including PerfectSource, which focuses on effective supply management; PerfectProcure, which manages the procure-to-pay process; and PerfectShop, which enhances visibility of approved goods and services. Additionally, Perfect Commerce features PerfectServices, a sourcing solution that identifies organizational needs and analyzes spending data to create tailored business solutions. The company also operates an Open Supplier Network, facilitating B2B transactions between buyers and suppliers. Its services cater to various industries, including chemicals, retail, energy, financial services, healthcare, hospitality, food products, education, manufacturing, technology, and transportation.
Perfect Commerce
Venture Round in 2003
Perfect Commerce is a provider of software-as-a-service (SaaS) spend management solutions and an open supplier network designed for small and medium-sized organizations. The company offers a range of solutions, including PerfectSource, which focuses on effective supply management; PerfectProcure, which manages the procure-to-pay process; and PerfectShop, which enhances visibility of approved goods and services. Additionally, Perfect Commerce features PerfectServices, a sourcing solution that identifies organizational needs and analyzes spending data to create tailored business solutions. The company also operates an Open Supplier Network, facilitating B2B transactions between buyers and suppliers. Its services cater to various industries, including chemicals, retail, energy, financial services, healthcare, hospitality, food products, education, manufacturing, technology, and transportation.
TestMart
Series C in 2000
- TestMart, dba GSAMart, is the #1 Test Equipment Reseller to the U.S. Government.
- Holds the GSA Schedule 66 (Contract #GS24F0066M) and partners with over 100 manufacturers.
- Carries over 200,000 SKUs that are GSA-compliant.
- Over 15 years experience working with the U.S. government contractors, buyers, and end-users.
Technical Communities
Series C in 2000
Technical Communities, doing business as TestMart, provides marketing and distribution services focused on government markets. It helps organizations that sell to U.S. government agencies, prime federal contractors, state and local governments, and educational institutions by offering GSA contract management and consulting, sales and channel support, and direct marketing. The company operates online marketplaces and content sites to assist government and prime contractor buyers in locating products and managing procurement, and it acts as an advertising partner for lead generation, brand awareness, and market research. Leveraging a B2B and B2G track record and a proprietary database of millions of prospects, Technical Communities also offers resources for IT certification testing, training, and continuing education. Headquartered in San Bruno, California, the firm focuses on growing sales for customers in government-related markets.
MedCenterDirect.com
Venture Round in 2000
MedCenterDirect.com is a health care e-procurement company.
Perfect Commerce
Series B in 2000
Perfect Commerce is a provider of software-as-a-service (SaaS) spend management solutions and an open supplier network designed for small and medium-sized organizations. The company offers a range of solutions, including PerfectSource, which focuses on effective supply management; PerfectProcure, which manages the procure-to-pay process; and PerfectShop, which enhances visibility of approved goods and services. Additionally, Perfect Commerce features PerfectServices, a sourcing solution that identifies organizational needs and analyzes spending data to create tailored business solutions. The company also operates an Open Supplier Network, facilitating B2B transactions between buyers and suppliers. Its services cater to various industries, including chemicals, retail, energy, financial services, healthcare, hospitality, food products, education, manufacturing, technology, and transportation.
Demandline.com
Series A in 2000
Demandline.com is a company dedicated to empowering small and growing businesses by addressing the disparities they face compared to larger enterprises. Acknowledging that small companies, which comprise over 90% of U.S. businesses, often receive inadequate service and higher prices, Demandline.com aims to level the playing field. Using a patent-pending process, the company conducts private reverse auctions to help business owners secure competitively priced core services. By partnering with nationally-branded service providers, Demandline.com ensures that its clients benefit from both cost savings and quality, thereby amplifying the influence of small businesses in a market dominated by larger firms.
Technical Communities
Series A in 1999
Technical Communities, doing business as TestMart, provides marketing and distribution services focused on government markets. It helps organizations that sell to U.S. government agencies, prime federal contractors, state and local governments, and educational institutions by offering GSA contract management and consulting, sales and channel support, and direct marketing. The company operates online marketplaces and content sites to assist government and prime contractor buyers in locating products and managing procurement, and it acts as an advertising partner for lead generation, brand awareness, and market research. Leveraging a B2B and B2G track record and a proprietary database of millions of prospects, Technical Communities also offers resources for IT certification testing, training, and continuing education. Headquartered in San Bruno, California, the firm focuses on growing sales for customers in government-related markets.
Arkestro
Arkestro is a technology company specializing in predictive procurement software designed to enhance savings and supply chain performance for businesses. Their platform pre-embeds preferred outcomes into any system or process, allowing companies to orchestrate activities across various systems using instant forecasts and real-time collaboration. By leveraging artificial intelligence, Arkestro's cloud-based automated negotiation software optimizes procurement savings and increases vendor participation, leading to significant cost reductions in managed services and raw materials solicitations.
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