Procurement Sciences AI Secures $10M in Series A
Procurement Sciences AI (“PSci.AI”), a Washington, DC-based company specializing in developing advanced AI-powered automation tools tailored for government contractors, has secured $10 million in Series A funding.
The round was led by Battery Ventures, a globally recognized technology-focused investment firm. Tower Research Capital also participated in the round with follow-on investment, along with new contributions from K Street Capital and Blu Ventures.
Battery Ventures is a global, technology-focused investment firm that invests in potentially cutting-edge, category-defining businesses in markets including application software, IT infrastructure technologies, consumer internet and mobile services, and industrial technologies. Founded in 1983, the firm makes venture capital and private equity investments in markets across the globe from offices in Boston, Silicon Valley, San Francisco, Israel, and London.
As part of this funding, Brandon Gleklen from Battery Ventures and Jared Young from Tower Research Capital will join Procurement Sciences' board of directors.
With the latest funding round, Procurement Sciences intends to expand its team across software engineering, AI research, development, sales, and customer success.
Founded by Christian Ferreira, Procurement Sciences AI is a company that has developed a suite of generative AI-powered automation tools designed to streamline the entire procurement workflow of business development and proposal teams, from bid discovery through proposal writing to compliance review. The company's current customers include several of the top 20 largest defense and aerospace companies, as well as over one hundred small and medium-sized businesses across every sector that sells to the government.
Funding Details
Company: Procurement Sciences AI, Inc.
Raised: $10.0M
Round: Series A
Funding Month: April 2024
Lead Investors: Battery Ventures
Additional Investors: Tower Research Capital, K Street Capital, Blu Ventures
Company Website: https://procurementsciences.com/
Software Category: Workflow Automation