The Series A financing round was led by Accel and will support team expansion and the development of new artificial intelligence features.
"Procurement is fundamentally broken, making it one of the least-loved processes in businesses today. Finance and procurement leaders are fed up with seeing duplicative suppliers, missed renewals, and manually managed procurement processes. Omnea is meeting a critical need for companies of all sizes to get full control over their suppliers – not just in terms of spend, but also through the lens of information security and governance. We’ve seen significant early demand, and with our new AI capabilities and third-party risk management offering, we’re the only company in the space truly automating the full supplier lifecycle. We’re delighted to announce today’s funding so we can continue on our mission to take the pain out of procurement and supplier management once and for all."
The Dublin-based startup secured backing from Molten Ventures, First Round Capital, LocalGlobe, Tribal VC, and Middlegame Ventures.
"We’ve been highly impressed with how the team have built out a global platform that makes carefully crafted, sustainably-sourced and beautiful gifts more accessible to people and companies across the globe. Jonathan, Ciara, Mark, and the team approach the business in the same way they do gifting — with immense thoughtfulness, attention to detail, and a focus on how to make a difference."
