Mergers and Acquisitions, Channel investors, Venture capital

Procure IT Raises $4.8M for IT Procurement Platform

Arrow rising up with bar graph on dark blue background. illustration of growth business success or goal development, financial investment profit graph and leadership motivation strategy achievement.

Arrow rising up with bar graph on dark blue background. illustration of growth business success or goal development, financial investment profit graph and leadership motivation strategy achievement.

IT procurement and management company Procure IT has raised $3.5 million in a new round of funding, bringing the company's total initial funding to $4.8 million. The company promises to combine people, processes and software to create an industry-first platform for IT procurement, spend, performance and risk management. 

The latest funding round includes investments from digital marketing and technology veterans Paul Filsinger and Giancarlo Maniaci, who also will serve as advisors to Procure IT's leadership team, the company said.

About Procure IT

Procure IT is a startup based in Carrollton, Texas. The company has 19 employees listed on LinkedIn. Procure IT offers a platform to simplify IT sourcing and expense, performance and risk management for small and medium businesses (SMBs) all they way to global enterprises, the company said.

The company has existing relationships with more than 350 IT suppliers and its own proprietary CX software platform. Procure IT advises more than 3,000 businesses nationwide, and the company claims using its platform can accelerate sourcing by 5X and reducing spending by 25%.

"We're thrilled to welcome Paul Filsinger and Giancarlo Maniaci as Procure IT investors and advisors," said Randy Jeter, Procure IT Managing Partner and former CEO of RapidScale. "Both leaders are highly experienced at building and growing forward-looking technology-powered companies by leveraging innovative product strategy and the latest advances in data-driven digital marketing. Their investments validate our vision to transform how IT is sourced and managed; their active guidance will help us achieve it."

Procure IT Growth Plans

Procure IT's managing partners, along with current and future investors, plan to raise additional capital before seeking private equity funding in 12-24 months, Jeter added.

Sharon Florentine

Sharon is a master technology storyteller and editor with omnichannel experience: books and print magazines, digital, webcast, blogging, podcast, live events and video and associated brand-specific social media content. From 1999 to 2003, she acquired and edited technology books and certification exam prep guides.

After a year spent in publicity and editorial at mass-market book publishers, she returned to tech publishing and, since 2004, explored B2C and B2B news, issues and trends in consumer, lifestyle, software, software development, AI, ML, networks, big data, hardware, security, storage, cloud, equity, inclusion, diversity, women in tech, career development, IT management, H-1B visa issues and immigration, education, training and learning.

Her previous role was as the managing editor at Techstrong Group in charge of Cloud Native Now, DevOps.com, Security Boulevard and Techstrong ITSM and their brand-specific social media. She currently serves as editorial director for CyberRisk Alliance’s channel brands, ChannelE2E and MSSP Alert and acting editorial director for SC Media UK. Drop me a note and let’s talk!

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