Despite the growing competition in the Spark Adsliffreing Adage, TealBook has managed to maintain its lead with its innovative design and technology. The company has also increased its revenue growth, and has been successful in securing investors and partnerships.
Invested in by venture capital firms such as Good Friends, BDC Capital, CIBC Innovation Banking and Reciprocal Ventures, TealBook is a venerable supplier data foundation. Its flagship product is a supplier management tool that uses artificial intelligence to enrich supplier data, thereby reducing costs associated with self-updating supplier portals.
Aside from the standard offerings, TealBook has also announced partnerships with software providers such as Workday and SAP. The company is also in the throes of developing solutions for the SAP Ariba portfolio. As a testament to its growth and success, it was named one of the top 10 Procurement Tech vendors in the world by Spend Matters.
During his time at TechCrunch, Kyle Wiggers has covered a number of gadget blogs. He is also the editor of the new ventureBeat website. Besides writing, Kyle loves running, biking, and playing the piano. He also has a special interest in artificial intelligence. Currently, he is working on a column about sustainability.
TealBook is a supply chain data service that has partnerships with a wide variety of companies. It was recently named one of the #ProcurementTech100. Its partners include Workday, EcoVadis, JAGGAER, RapidRatings, Ivalua, and GEP. It has also announced a partnership with the SAP PartnerEdge program. It will build solutions for the SAP Ariba portfolio. Its investors include Stand Up Ventures, Reciprocal Ventures, CIBC Innovation Banking, Grand Ventures, BDC Capital, and Royal Bank of Canada. It has experienced a 350% revenue increase over the last two years.
Founded in 2011, TealBook is a supplier data foundation that helps companies manage and improve their supplier data. It is used by 4,000 customers. It is also a cloud-based platform that allows companies to collect data quickly and deliver new features quickly. Its algorithms analyze billions of data points and provide results in minutes.
During a press event on the eve of their Series B funding round, TealBook announced some major partnerships with SAP and other software providers. In addition, the company also demonstrated a 350% increase in revenues compared to last year’s levels. In fact, the company has plans to build solutions for the SAP Ariba portfolio. This is a promising milestone for a company that has expanded into new sectors beyond the Fortune 500 customer base.
Several investors participated in the round, including Grand Ventures, Stand Up Ventures, Reciprocal Ventures, and CIBC Innovation Banking. In addition to its usual suspects, TealBook also landed a spot on the Spend Matters list of 50 Procurement providers to know. Its newfound status came on the heels of a new partnership with the SAP PartnerEdge program, which will help the e-procurement giant build up its supply chain capabilities. The deal is also likely to boost recruitment as well as enhance marketing and product development efforts.
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