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Tropic Raises $40M Series B With Insight Partners To Replace Legacy Software Procurement Platforms
Amount Raised
$40 Million
Round Type
Series B
New YorkInformation TechnologySoftwareConsumer Goodsinformation technology & servicesDescription
Tropic, the cutting-edge SaaS software procurement platform, today announced that it has raised $40 million in a Series B round led by New York-based global private equity and venture capital firm Insight Partners. The company has now raised a total of $65 million since August 2021. Tropic will use the proceeds to further fuel its exponential growth, [expand its global footprint], build its team and launch four new software modules in the next two quarters, solidifying its differentiation, as the only end-to-end solution to the SaaS problem. Over the past four months, Tropic had more than doubled its revenue and added customers like Notion, Nextdoor, Faire, and Flatiron Health to its roster of leading brands.
Fundz sees it the moment Tropic Purchaser raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
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What this usually meansTropic Purchaser raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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