Founded in 2012 by a group of Toronto-based entrepreneurs, Tealbook, a web-based procurement technology platform, has raised 73 million dollars in a Series B financing round led by ten coves capital. The company is looking to expand its team of 70 to support growth of its platform.
Series B financing round led by ten coves capital
Regulatory technology firm SteelEye raised $21 million in a Series B financing round led by Ten Coves Capital. The London-based firm, which provides a SaaS-based solution for compliance, has raised $43 million in total funding. It counts Fidelity International and Schroders among its clients. This funding will help SteelEye expand its operations in North America. It also aims to expand its international expansion.
SteelEye’s platform provides a modern, unified data analytics solution, bringing together communications and trade data. The firm’s solution enables banks to simplify compliance processes. SteelEye promises streamlined regulatory reporting and reduced risk of non-compliance with rules. The company also offers solutions for trade surveillance and eDiscovery. Its offices are in New York, Braga, and Bengaluru.
SteelEye’s fundraising is the largest European RegTech round this year. Its investors include Beacon Equity Partners, Fidelity International Strategic Ventures, and Illuminate Financial. The firm’s new funding will enable SteelEye to accelerate global expansion and scalability. It will also help the company to develop new integrations and new partnerships. It also plans to introduce new features, including Machine Learning and Artificial Intelligence.
70 team members
Touted as the cuddly feame of the e-procurement department, TealBook has been on a tear in the past year. They have signed deals with some big names such as Workday, SAP, and Ivalua. Among other awards, they have been named to Spend Matters’ annual list of procurement technology providers. In addition to their impressive portfolio, they have a plethora of innovative programs and initiatives in the works. Among the most notable are a new global supply chain and e-procurement platform and a new procurement analytics division. With the addition of new hires, the organization has more than doubled its headcount, with several notables stepping up to the plate.
Founded in 2014, Tealbook is an early-stage provider of supplier data management and analytics. The company’s product provides organizations with the ability to create a trusted supplier data foundation. This foundation can enable companies to make advanced cost savings and innovations in supplier relationships. It can also help to manage risk and create opportunities for corporate social responsibility.
Tealbook was initially focused on collecting and disseminating procurement data, but the company has recently begun to focus on building the technology infrastructure around this data. The company is using artificial intelligence (AI) and machine learning to analyze large amounts of supplier data. Its platform provides up-to-date supplier information, and helps customers unify their systems. This new focus allows the company to expand its team to fuel growth worldwide.
TealBook was named one of Spend Matters’ 50 Procurement Providers to Know. The company was also named to ProcurementTech100. It recently announced new partnerships with software providers and enterprise-level procurement organizations.
100m Series 1b Wiggers Venturebeat
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Several investors in the 100m Series 1b Venturebeat are now taking home a large amount of money. They’ve realized that investing in startups can be a smart move. In fact, they’ve managed to find a way to break out of the traditional VC world by setting up a strict rule for how each fund will spend their money. In the end, this worked out well for both investors and companies.
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Acerta’s funding came in very secretly, as it was aiming to disrupt the Pharmacyclics industry. Acerta’s founder, Keisuke Yamada, had a great idea for an app, and was traveling around the world. However, foreign investors weren’t sure if they understood his vision. In the end, the company closed a $550M Series B funding round in September 2015.
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One of the companies that VentureBeat has covered is ControlUp, a troubleshooting platform. The company recently raised a hundred million dollars from K1 Investment Management. The company claims that the investment will allow them to continue developing their product. The company plans to develop three new features to add to the platform. They also plan to increase the number of paying users to 100,000.