Norway’s Ignite Procurement Secures $7.1 Million in Series A Funding Round
Ignite Procurement, based in Oslo, has secured $7.1 million in a Series A fundraising round.
Ignite gives procurement experts a ton of data, as you can guess from the brand name, enabling them to make wiser and more sustainable decisions.
Ignite has raised $11.6 million since late 2019.
Keeping track of expenses has always been critical for the bottom line, but in the current economic scenario, spend management is even more crucial.
The software has reportedly been used to examine purchases worth more than $105 billion since it launched in 2018, claims the company.
Ignite boasts an ARR rise of over 150% over the past year with a team of 60 people, including those working out of a recently built office in Poland.
The $7.1 million Series A round of funding for Ignite Procurement includes investments from previous backers Arkwright X, Snö Ventures, and Investinor as well as fresh backers Skagerak Maturo and MP Pensjon.
