Sets Stage for Accelerated Growth in 2016
Vancouver, BC – Procurify, a leading global platform for mobile and cloud-based purchasing is transforming the historically paper-based process of purchasing and gaining momentum in the process. In 2015 the company reached significant milestones in revenue, team growth, product innovation and investment.
Aman Mann, Co-Founder and CEO said: “2015 was a monumental year for Procurify: we rebranded, launched a new user interface and new modules to the platform while successfully growing our client base, revenue numbers and team size.”
In 2015, Procurify reported:
• 4x increase in annual recurring revenue – driven by increased account creation online, account expansion and heftier deal sizes
• 3x growth of user base – hailing from over 100 countries worldwide
• 4x increase in new account activations per month – with larger companies increasingly dominating the mix
2015 also saw Procurify unveil a completely revamped user interface (UI) and migrate from Google App Engine to Amazon’s world class servers. This upgrade increased system uptime and noticeably increased speed and usability of the platform.
“We’ve seen a clear transition this year, especially after the launch of the new UI. We are consistently attracting and retaining larger clients and closing larger deal sizes. We are confident that this trend toward larger clients and deals is likely to continue with the addition of our new accounts payable module, recently launched in late 2015. This new module also opens the door for a new, finance-focused client vertical.”
Mann continued, “The Procurify team has now implemented world class tools to support this momentum, including Marketo, Salesforce.com and others. These tools are setting Procurify up to continue to accelerate growth into 2016.”
Fueling Procurify’s powerful growth in 2015 was a $4 million USD investment from Point Nine Capital, Nexus Venture Partners, the Business Development Bank of Canada and Ryan Holmes and Steve Johnson of Hootsuite. These investors joined Procurify’s notable investor roster that already included Mark Cuban and Anand Babu Periasamy.
Procurify is a global leader in mobile and cloud-based purchasing. With users in over 100 countries worldwide, Procurify empowers businesses to manage direct and indirect company spending and streamline the purchasing process. The ridiculously easy-to-use platform provides control and visibility of company spend. Learn more at Procurify.com. Read more on the Procurify Blog or follow @Procurify on Twitter.