- Negotiatus, a company that offers purchasing software that helps business administrators and users place orders, announced it has raised $10 million in Series A funding
Negotiatus, a company that offers purchasing software that helps business administrators and users place orders, announced it has raised $10 million in Series A funding, according to TechCrunch. This funding round was led by Rally Ventures with participation from ERA, 645 Ventures, Green Visor Capital, and Stage 2 Capital. And this brings Negotiatus’ total funding to nearly $20 million.
Founded by Zachary Garippa and Tom Jaklitsch, Negotiatus brings all stakeholders into a single platform to shop, place orders, and track the delivery. Plus they can manage the spend from one area. And with Negotiatus, finance departments are able to view purchases through a weekly or monthly invoice.
Prior to the launch of Negotiatus, purchasers had to cross-reference approved brands, vendors, and products every time they needed a new set of supplies and jumped from one website to another while tracking shipments across multiple websites.
Negotiatus is able to scrape purchase history. And users are able to track those products from the Negotiatus dashboard. It takes under a day to set up the platform.
How does Negotiatus generate revenue? It offers a subscription-based model with a monthly fee. And it also generates revenue based on spend volume on the platform.
Currently, Negotiatus has 300 customers. Some of the company’s customers include SoulCycle, Orangetheory, CorePower Yoga, WeWork, and Domio.