Procural in Bahrain raised $1.2 million in seed funding from Flagship Holding and BenchMatrix in Canada. Procural intends to use the new funds to grow its team, improve the capabilities of its platform, and accelerate its growth in the B2B procurement market.
Procural.com is an algorithmic and AI-driven B2B procurement platform that efficiently and data-driven matches vendors and buyers. Procural asserts that it provides a cloud-based infrastructure, customizable approval workflows, automated purchase orders, and real-time budget tracking. Uzair Usman, CEO and co-founder of Procural, hailed the investment as a critical step forward for the company. Flagship Holding says it will use its expertise to help Procural gain a strategic market position.