Mercanis – a Berlin-based procurement suite solution company – recently announced the completion of its latest seed funding of $10 million. The funding round was led by institutional funds such as Signals.vc, DI Technology, and Speedinvest. Plus, successful entrepreneurs and well-known angels such as Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana), Victor Jacobsson (Klarna) also joined the round.
Mercanis differentiates itself from competitors with its easy-to-use sourcing and supplier management tools. And these tools utilize networking benefits and automated processes to save more than 40% of the costs.
Mercanis was founded in 2020 by Fabian Heinrich and Moritz Weiermann. And by using data insights and Artificial Intelligence the startup strives to reshape how businesses make purchasing decisions and interact with service providers. Following a successful seed funding round, Mercanis plans to catalyze growth and innovation by using the investment for the core areas.
The primary focus will be on product development, such as further exploiting the potential of Artificial Intelligence (AI) within the Mercanis procurement suite. The software already uses large language models (LLMs) in contract analysis and autonomous sourcing. Beyond product innovation, a portion of the funding will be channeled towards expanding Go-to-Market strategies, to share more success stories and broaden the customer base.
Sven Novak – Director of Global Indirect Procurement at Amer Sports – pointed out that Mercanis’ software brings efficiency and transparency to organizations, emphasizing that during times of crisis it enables companies to scale capabilities in a lean manner. And Mercanis is already a trusted partner for global giants like Linde, Wilson, Arcteryx, Hypoport, and prominent Mittelstand players such as weinor, Oventrop, Frutiger.
KEY QUOTES:
“We’re immensely grateful for the trust shown in this funding round. It underscores the vital role of forward-thinking procurement software in today’s economic landscape. In these challenging times marked by inflation and recession, Mercanis doesn’t just facilitate growth. Our solution delivers cost and time efficiencies, while also offering a robust defense against risks for our clients.”
— Fabian Heinrich, CEO and Co-Founder of Mercanis
“Given the macro challenges and the center stage role procurement is supposed to take today, there is no other software platform trying to solve this issue as they are. Not only with their combination of process automation, predictive analytics and AI, but more importantly with its suite approach, Mercanis delivers a unique compounded product value to its customers.”
— Dr. Daniel Kirchleitner, General Partner, signals.vc
