Having your own website for your Amazonallynnpr important, but it can also be a bit confusing. Luckily, there is a good resource to help you with this. It is called TealBook, and it provides you with everything you need to know.
About TealBook
Using artificial intelligence to enhance supplier data and reporting capabilities, Toronto-based TealBook is transforming the way that buyers get supplier data. The company has secured US$50 million in Series B funding, with Ten Coves Capital, CIBC Ventures, Good Friends, and other investors participating. This will help the startup speed up its data road map and expand into new markets.
One of the biggest challenges in business-to-business (B2B) supply chains is collecting supplier information. The supply chain affects a variety of businesses, from individual retailers to marketplaces. Without sufficient data, enterprises cannot meet their regulatory or compliance requirements. Using AI and machine learning, TealBook’s software solutions can contextualize and classify supplier data in real-time. This means that buyers can quickly find new vendors and evaluate them on the same platform that they use to assess competitors.
Investors
Founded in 2014, Toronto, Canada-based TealBook provides supply chain data to buyers. The company uses machine learning and artificial intelligence to enhance the supplier information that companies use to make procurement decisions. Using a variety of source types, including publicly available sources, TealBook delivers up-to-date, accurate data that gives companies insights into their supply chain and their suppliers.
The startup’s main products are the e-procurement platform and the procurement intelligence service. In addition to its own software, TealBook has partnerships with RapidRatings, JAGGAER, Workday, GEP and Ivalua. It also is a member of the SAP PartnerEdge program.
Since the launch of its e-procurement software, TealBook has seen its revenue grow 350 percent. Now, the company plans to expand its team and its operations globally to fuel its growth.
Mission statement
Having a look at the latest financials of Toronto based data and analytics provider TealBook Inc., you’ll see a whopping 350 percent growth in revenues over the past year. The company is also making headlines with its new suite of solutions for managing procurement, finance and human resources. To help its mission, the company has added some notable names to its board of directors. As the name suggests, TealBook is best known for its innovative and award winning solutions, which are backed by a top notch team of experts. Its list of partners includes SAP, Workday, RapidRatings, GEP, Ivalua, and EcoVadis. It also has the honor of being the first and only vendor to win the prestigious SAP PartnerEdge program.
With a total funding size of $58 million, the company spruced up its aging technology in the past six months and is well on its way to being a major player in the data management industry. With this in mind, the company has already snagged the largest number of new enterprise customers in its history, including several of the Fortune 500.
Revenue growth
Using AI, machine learning, and a supplier data intelligence platform, TealBook powers the e-procurement technologies of companies worldwide. It helps organizations identify and evaluate suppliers from the perspective of outreach capabilities, products, similar suppliers, and ethical practices. The company has recently closed a Series B funding round of $50 million. This funding was led by Ten Coves Capital, Reciprocal Ventures, and Good Friends, with participation from other investors. This latest funding round will allow TealBook to accelerate its data roadmap and fuel its global expansion.
With the funding, TealBook will continue to develop the two main products it offers, and it will expand its team to meet the growing demand for its technology. The company anticipates nearly doubling its workforce from 47 employees to 84. This will help it to scale its offering and expand its partnerships. The new funds will also be used to beef up its marketing and product development teams.
Team members
Earlier this week, TealBook announced the largest round of funding in its history, a $50 million series B investment, led by Ten Coves Capital, and with participation from a host of other investors. The new funds will be used to expand into new sectors, and grow the team in order to fuel the company’s global expansion. In addition, the company has enlisted the aid of Ned May, former chief executive of the e-procurement software provider, to join its board of directors.
Conclusion
TealBook will also use the money to further hone its data-focused technology. For example, the company has a partnership with SAP to enhance its SAP PartnerEdge program. The company also plans to introduce new partnerships and products, including a new solution to augment its already extensive portfolio of procurement software solutions.
