20 January 2020:
Supplier discovery platform scoutbee has raised $60 million in Series B round of funding. The funding round was led by Atomico. Lakestar and Next47, and existing investors HV Holtzbrinck Ventures, 42CAP and Toba Capital also participated in the funding round.
As part of funding, Atomico Partner Hiro Tamura will join the company’s board.
The company will use the fresh capital to further expand its R&D, accelerate customer growth and explore strategic acquisitions. scoutbee’s already diverse team will be scaled up from 120 staff today to around 220 across Berlin, Wurzburg and Washington D.C. by the end of 2020.
Gregor Stűhler, Co-founder and Managing Director of scoutbee, said, “The significant new funding, together with our new partnership with Atomico and Lakestar is an exciting milestone. We will leverage every aspect of our combined instinct, expertise and passion to develop our products and capture new markets. scoutbee as a solution is unrivalled in its specific capability for strategic scouting.”
Gregor Stűhler, added, “Perhaps most exciting, today our team mission is stronger than ever – and by 2021, we aim to save global companies over €9 billion a year with our intelligent, transparent and fair supplier discovery platform.”
Hiro Tamura, Partner at Atomico, said, “Using databases and online searches in a vacuum, procurement professionals commonly don’t know what proportion of suppliers they have visibility over, nor the suppliers’ level of quality or experience. The industry requires far more effective information gathering.”
Hiro Tamura, added, “We are proud to partner with scoutbee’s talented and dedicated team who are focusing on exactly this – a smarter way to find suppliers. We were blown away by their deep knowledge in the procurement space in geographies from Asia, Europe and America, and their product-first approach to solving procurement for the world’s top-tier companies.”
(Image – scoutbee)