All the funding deals in the procurement software market
Last updated: 13 July 2026
In our updated market reports, you will find everything you need
The procurement software market helps companies find suppliers, control spending, manage contracts, and improve purchasing workflows.
We conducted deep research and collected 48 procurement software funding deals announced between Q1 2024 and Q2 2026.
We refresh this procurement software market page very often to add new funding deals and update existing information.
Insights
- The 48 procurement software funding deals raised approximately $2.13 billion between Q1 2024 and Q2 2026. Ramp alone represented $750 million of this total.
- Procurement software funding accelerated sharply in 2026. Companies raised about $1.06 billion during the first two quarters of 2026, compared with approximately $654 million during all of 2025.
- Artificial intelligence became a central theme in the procurement software market. Many funded companies now use AI agents to automate sourcing, negotiations, supplier communication, contract review, and purchasing approvals.
- Large procurement software platforms attracted the biggest rounds. Ramp, Zip, ORO Labs, Levelpath, Pactum, Qualifyze, SpotDraft, and Vertice each raised at least $50 million in one round.
- Specialized procurement software also attracted investors. Funded platforms focused on construction, hospitality, manufacturing, electronics, life sciences, freight, fashion, and enterprise tail spend.
- Several procurement software companies raised more than once during the period. Didero, Omnea, SpotDraft, and Vertice returned to investors after earlier rounds.
- Contract lifecycle management remained an important part of the procurement software market. Summize, Spellbook, Icertis, SpotDraft, Ivo, netLex, and Signit raised capital for contract-focused platforms.
- The procurement software market is global. The funding list includes companies serving North America, Europe, Latin America, the Middle East, India, and other international markets.
Summary table of the funding deals for the procurement software market since 2024
We define the procurement software market as software that helps companies find suppliers, control spend, manage contracts, and buy goods or services.
It includes Spend Management Platforms, Supplier Management Tools, Sourcing Software, Contract Lifecycle Management, Purchase Order Automation, and E Procurement Platforms.
It excludes broader adjacent markets unless the product is built specifically for this use case.
We focused exclusively on pure players, defined as companies with at least 70-80% of their business directly tied to the procurement software market.
Our analysis has been done at a global level with a minimum funding threshold of $300k.
If you want a longer-term view, we also have a study of how funding activity in the procurement software market has changed over the years.
| Name | What they do | Amount in $ | Quarter | Source(s) |
|---|---|---|---|---|
| Signit | Provides digital signatures and AI contract management software for Saudi companies. | $15.0M | Q2 2026 | Signit |
| ProcurePro | Helps construction companies schedule procurement, manage tenders, compare bids, and create contracts. | $11.0M | Q2 2026 | ProcurePro |
| Pivot | Provides AI software for purchasing, vendor management, payments, and spend analysis. | $40.0M | Q2 2026 | Pivot |
| Ramp | Provides corporate cards, expense controls, procurement tools, vendor management, and automated payments. | $750.0M | Q2 2026 | TechCrunch |
| Definic | Helps companies select technology vendors, compare prices, and evaluate supplier proposals. | $2.9M | Q2 2026 | FinSMEs |
| Soource | Uses AI to find, assess, qualify, and manage suppliers. | $3.5M | Q2 2026 | PublicNow |
| Summize | Provides AI contract management inside Word, Outlook, Teams, Slack, and Salesforce. | $50.0M | Q1 2026 | Business Wire |
| SpotDraft | Helps legal teams review, approve, sign, and manage business contracts with AI. | $8.0M | Q1 2026 | YourStory |
| 1Buy.AI | Uses AI to manage electronics sourcing, pricing, supplier risk, and inventory. | $3.9M | Q1 2026 | Business Wire |
| SiFi | Provides corporate cards, expense management, analytics, and vendor payments in Saudi Arabia. | $20.0M | Q1 2026 | SiFi |
| Didero | Uses AI agents to automate supplier communication, purchasing, and order tracking for manufacturers. | $30.0M | Q1 2026 | PR Newswire |
| Lio | Uses AI agents to automate purchasing tasks across the procurement process. | $30.0M | Q1 2026 | PR Newswire |
| ORO Labs | Manages procurement requests, approvals, sourcing, suppliers, and compliance in one platform. | $100.0M | Q1 2026 | PR Newswire |
| Procure AI | Uses autonomous AI agents to automate procurement and supply chain workflows. | $13.0M | Q4 2025 | Procure AI |
| Coverbase | Automates vendor intake, security reviews, due diligence, and supplier risk assessments. | $16.5M | Q4 2025 | EIN Presswire |
| Spellbook | Uses AI to draft, review, and revise business contracts. | $50.0M | Q4 2025 | Business Wire |
| Omnea | Manages procurement requests, suppliers, approvals, risk checks, and company spending. | $50.0M | Q3 2025 | Omnea |
| Alaan | Provides corporate cards, expense controls, and spend management tools for MENA companies. | $48.0M | Q3 2025 | Alaan |
| Folio | Helps hospitality companies purchase supplies, process invoices, and manage payments. | $14.0M | Q3 2025 | Folio |
| Parspec | Helps construction distributors prepare bids, create quotes, and manage customer orders. | $20.0M | Q3 2025 | Parspec |
| Candex | Helps large companies manage small suppliers and low-value purchases. | $33.0M | Q3 2025 | Finextra |
| Levelpath | Combines sourcing, contracts, supplier management, requests, and spend tracking in one platform. | $55.0M | Q2 2025 | Business Wire |
| Mercanis | Provides sourcing, supplier management, contract management, and spend analysis tools. | $20.0M | Q2 2025 | AVP |
| Remarcable | Digitizes purchasing and procurement workflows for construction companies. | $15.0M | Q2 2025 | PR Newswire |
| Pactum | Uses AI agents to negotiate supplier agreements and complete deals automatically. | $54.0M | Q2 2025 | Pactum |
| Field Materials | Automates material orders, equipment purchases, and purchase orders for construction companies. | $10.5M | Q2 2025 | PRWeb |
| LightSource | Uses AI to manage strategic sourcing and direct material purchases. | $33.0M | Q2 2025 | Business Wire |
| Mendel | Provides expense, payment, travel, and spend management tools for Latin American companies. | $35.0M | Q1 2025 | Business Wire |
| Icertis | Helps enterprises manage contracts, obligations, business terms, and agreement data. | $50.0M | Q1 2025 | GeekWire |
| SpotDraft | Helps legal teams create, review, approve, sign, and manage contracts with AI. | $54.0M | Q1 2025 | SpotDraft |
| Ivo | Uses AI to review contracts, identify risks, and suggest contract changes. | $16.0M | Q1 2025 | Legal IT Insider |
| Crown | Uses AI to help procurement teams analyze tenders and manage purchasing workflows. | $2.1M | Q1 2025 | Vestbee |
| Vertice | Helps companies buy software, manage vendors, and reduce SaaS and cloud spending. | $50.0M | Q1 2025 | PR Newswire |
| Reeco | Helps hotels purchase supplies, process invoices, and manage procurement workflows. | $15.0M | Q1 2025 | PR Newswire |
| Pemo | Provides corporate cards and spend management tools for SMEs in the MENAP region. | $7.0M | Q4 2024 | Pemo |
| Globality | Uses AI to automate sourcing and procurement processes for large enterprises. | $47.0M | Q4 2024 | Business Wire |
| Zip | Manages procurement requests, sourcing, suppliers, purchase orders, approvals, and payments. | $190.0M | Q4 2024 | Zip |
| Omnea | Manages procurement requests, supplier risk, approvals, contracts, and company spending. | $20.0M | Q4 2024 | Omnea |
| Retraced | Tracks suppliers, materials, compliance, and sustainability risks in fashion supply chains. | $16.5M | Q3 2024 | Partech |
| Qualifyze | Helps life sciences companies qualify suppliers and manage audits, compliance, and risk. | $54.0M | Q3 2024 | Qualifyze |
| netLex | Helps Latin American enterprises create, approve, sign, and manage contracts. | $24.0M | Q3 2024 | LAVCA |
| Didero | Automates sourcing, supplier onboarding, purchase orders, invoices, and payments for manufacturers. | $7.0M | Q3 2024 | AlleyWatch |
| Centriti | Provides digital procurement tools for hotels, restaurants, and catering businesses. | $0.72M | Q3 2024 | ETHospitalityWorld.com |
| Dice | Helps enterprises manage business spending, payments, and online transactions. | $5.0M | Q3 2024 | Dallas VC |
| GoodShip | Helps shippers manage freight networks, select carriers, and improve shipping performance. | $8.0M | Q2 2024 | Business Wire |
| Diagon | Helps manufacturers source and purchase advanced production equipment. | $5.1M | Q2 2024 | 3DPrint |
| akirolabs | Uses AI to help procurement teams build category and sourcing strategies. | $5.0M | Q1 2024 | PR Newswire |
| Vertice | Helps finance teams control SaaS purchases and cloud spending. | $25.0M | Q1 2024 | PR Newswire |
Related blog posts
- Who are the most valuable companies in the procurement software market?
- How active is venture funding in the procurement software market right now?
- Who has raised the most money in the procurement software market?
- How are funding trends changing in the procurement software market?
