Bloom Procurement Services secures £14m Series A funding from BGF to scale its procurement platform
BGF led the Series A investment to fund technology development and scale operations.
Bloom Procurement Services operates a public sector procurement marketplace providing an end-to-end managed service solution. The company enables buyers to award contracts transparently while offering suppliers an efficient route to market.
Bloom Procurement Services has secured £14m in Series A funding from BGF to invest in its technology platform and accelerate expansion. The Gateshead-based firm runs a public sector procurement marketplace that connects buyers with professional service providers. Barry Jackson and Rob Johnson led the transaction for BGF. The capital will support the ongoing development of the company next-generation Pro-vide technology.
From the founder
"Our technology means we’re uniquely placed to offer the whole public sector an end-to-end managed service procurement solution for professional services. In addition, we help buyers evaluate social value when awarding contracts, which became a mandatory requirement for central government contracts this year. We’re also able to support the drive to open up public procurement to more SMEs because of our ability to onboard and work with any suppliers at any time. The Bloom team and I are incredibly excited to be working alongside BGF who bring invaluable experience of supporting scale-up businesses in developing and delivering a customer led tech road map."
Amabel Grant
CEO at Bloom Procurement Services
Investor perspective
"Adam and Amabel are a powerful combination and Bloom is a unique asset, which has access to a large market and the potential to rapidly scale. This is a business offering a best-in-class solution, delivering results for its users and driving social value throughout the supply chain. We’re looking forward to working with the team to achieve our shared ambitions for Bloom."
Barry Jackson
Investor, BGF
Use of funds
- 01Continue product development
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About the company
Bloom Procurement Services
Bloom Procurement Services operates a public sector procurement marketplace providing managed service solutions.