DeepStream raises £5.2m in Series A funding led by Beringea to scale its procurement platform
Transatlantic venture capital firm Beringea led the financing round, which will fund team expansion and artificial intelligence development.
DeepStream provides a cloud-based procurement platform that unifies communication between buyers and suppliers into a single digital workspace. The system helps businesses manage tender processes and improve supply chain sustainability.
DeepStream has secured £5.2m in a Series A funding round led by Beringea. The financing also drew participation from Seed X Liechtenstein, Conviction, and Portfolio Ventures.
The capital will be deployed to expand the company platform capabilities and further develop artificial intelligence applications, including supplier recommendation engines focused on environmental and governance criteria. Founded in London, DeepStream currently serves over 3,500 companies across various sectors.
The latest backing arrives as the firm reports significant year-on-year customer growth, prompting plans to double its headcount and scale operations further.
From the founder
"For too long, procurement has been an opaque practice conducted on outdated technologies like email and ERP systems. We want to bring true visibility to the supply chain, so companies can analyse, compare, and understand the suppliers they use, because only with this kind of transparency can procurement become fully auditable and sustainable."
Jack Macfarlane
Founder and CEO at DeepStream
Investor perspective
"We know supply chains are buckling, which necessitates greater adoption of technologies that can help drive efficiency gains. Rather than settle for clunky UI formats or overly prescriptive workflows, customers we spoke to raved about DeepStream’s ease of use, flexibility, delivery and service. They’ve got a really tenacious, creative team we’re excited to back."
Carrie Babcock
Investment Manager, Beringea
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
Investors
Categories
About the company
DeepStream
Cloud-based procurement platform for supply chain communication.