Contingent secures $8.2m in funding led by Octopus Ventures to expand its procurement platform
Octopus Ventures led the round as Contingent looks to scale its supply chain risk and transparency software.
≈ £6.2M at $1 = £0.7610 on 16 Mar 2022
Contingent offers a supplier insight platform that helps businesses streamline procurement and manage supply chain risks. The cloud-based software integrates into existing workflows to provide proactive risk management and compliance insights.
London-based supply chain risk platform Contingent has secured $8.2m in funding to expand its software capabilities and meet rising demand for ethical procurement tools. The investment round was led by Octopus Ventures, with additional participation from Connect Ventures, Concentric, Seedcamp, Ascension, and Working Capital Innovation Fund.
Launched in 2020, Contingent provides a lightweight cloud platform that integrates into corporate workflows to help organisations source suppliers, evaluate risk, and meet regulatory standards. The company has experienced tenfold customer growth since inception, working with clients such as Monzo, Huel, and HM Government.
The fresh capital will be directed towards developing its suite of modular software applications and supporting international expansion into Europe and the United States, alongside scaling its product, engineering, and commercial teams.
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Grow the team
Investors
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About the company
Contingent
Contingent provides a software platform that makes corporate procurement and supply chain management more transparent.