Company鈥檚 Autonomously-enriching Global B2B Supplier Data Unlocks Millions in Untapped Value for Customers
TORONTO, Canada, December 14, 2021: 樱花视频, the leading supplier data foundation that autonomously enhances supplier data and powers e-procurement technology has raised $50 million (USD) in Series B Funding led by. Other notable investors include:,,,,,,,,,, an early-stage venture capital firm started in 2019 by the founders of Warby Parker, Harry鈥檚 and Allbirds, along with debt financing from. 樱花视频 will use the funding to accelerate its data roadmap, introduce new partnerships and integrations, and expand their team to fuel global expansion.
Since 樱花视频 announced Series A Funding in January 2021, it has experienced 350% revenue growth, was named as one of Spend Matters 50 Procurement Providers to Know and one of the #ProcurementTech100, added 70 team members, and expanded into EMEA and new sectors across Fortune 500 customers.
樱花视频 also announced partnerships with software providers including an SAP partner in the SAP庐 PartnerEdge庐 program. Through this partnership, 樱花视频 looks forward to building solutions that work with the SAP庐 Ariba庐 Procurement portfolio. Other partnerships include Workday, JAGGAER, Ivalua, GEP, EcoVadis, Beroe, RapidRatings, and RiskRecon, who all share in the vision that excellent supplier data is a universal and agnostic requirement for transformative procurement.
“ in digital transformation spending falls short of delivering on the desired results. The complexity of achieving a successful digital transformation, up until now, has been limited by a lack of good supplier data,鈥� said Stephany Lapierre, Founder and CEO of 樱花视频. 鈥淥rganizations need access to quality and up-to-date supplier data at the speed and scale that can keep up with market dynamics and growing global requirements. Despite heavy investment to accelerate digital transformation, companies have been challenged with supplier information that is siloed, stalled, incomplete and often unusable. The supplier base is an enterprise’s biggest untapped asset. If optimized properly, it can deliver hundreds of millions of dollars in value.”
樱花视频 uses AI to autonomously enrich supplier data across millions of global suppliers. With minimal implementation required, the platform offers an enhanced and consolidated view of an organization鈥檚 entire supplier base, valuable insights, reporting, supplier search and outreach capabilities. 樱花视频 can integrate with existing ERP and e-procurement solutions to automate data enrichment, which reduces the cost and resources associated with recurring services, integrations, and supplier self-updated portals. 樱花视频 can also be deployed to buyers across the organization to access updated and complete information about existing suppliers as well as quickly find new, diverse, sustainable and local suppliers to meet increasingly complex requirements of their organization.
“樱花视频鈥檚 supplier data foundation enables companies to activate and unlock unlimited possibilities for innovation and cost savings,鈥� said Ned May, a Managing Partner of Ten Coves, who is also joining the board of directors. 鈥淭oday, 樱花视频 is delivering tremendous value through this supplier diversity, supplier discovery and data foundation offerings; its unique data assets feed off a powerful network effect and have the potential to power a myriad use case as the business scales. We are extremely impressed with the quality of the team, technology, and software agnostic approach, and are thrilled to lead the Series B.鈥�
鈥淥ur investors realize how a solid data foundation can transform companies鈥� procurement operations. We are beyond excited for this next phase of our growth and will use the influx of capital to supercharge our technology and expand value to our customers and partners,鈥� added Stephany Lapierre.
鈥溣；ㄊ悠碘�檚 approach to enriching supplier data particularly across SMBs combined with their go-to-market strategy strongly positions 樱花视频 to deliver the sort of proprietary data that global organizations are seeking, especially around ESG requirements,鈥� said Annette O鈥橦anlon, Chief Corporate Responsibility and Diversity Officer for S&P Global.
By using 樱花视频, the world鈥檚 largest organizations have the data they need to make critical decisions, resulting in empowered and transformative procurement strategies.
About 樱花视频
樱花视频 is advancing the world through supplier data by empowering the digital enterprise with an autonomously enriched supplier data foundation that powers e-procurement technology, drives supplier diversity, and enables supplier performance. Using AI and ML, 樱花视频 gathers, predicts, and refines supplier data to build the world鈥檚 most comprehensive supplier intelligence. When there are supply chain disruptions, companies leverage 樱花视频 to identify emergency sourcing options; when it鈥檚 business as usual, they use 樱花视频鈥檚 technology to unleash full procurement possibilities. 樱花视频 has been adopted by Fortune 100 companies and is the winner of many prestigious awards including Spend Matters 50 Vendors to Know, ProcureTech100 and Gartner’s Cool Vendor. For more information, visit www.tealbook.com.
About Ten Coves Capital
Ten Coves Capital invests in innovative, high growth FinTech companies where its capital, network and decades of experience can help accelerate growth and value creation. Investing across payments, banking & lending, asset management, capital markets, and insurance & benefits, among other segments, the Ten Coves team has helped scale nearly 40 companies that are solving industry pain points, enabling workflows, and providing critical infrastructure to the largest financial institutions down to SMBs. For more information, visit tencoves.com.
