Tropic Raises $40M in Series B Funding
- Tropic, a New York-based SaaS software procurement platform provider, raised $40M in Series B funding
- The round was led by Insight Partners
- The company intends to use the funds to further accelerate growth, expand its global footprint, build its team and launch four new software modules in the next two quarters
- The company provides provides a SaaS based procurement platform for companies of all sizes – from startups to Fortune 500 companies – to buy software, manage contracts, and monitor usage
- The platform streamlines every stage in the procurement workflow and presents insights on cost-saving opportunities
- Over the past four months, the platform had more than doubled its revenue and added customers like Notion, Nextdoor, Faire, and Flatiron Health to its roster of leading brands
