SAN FRANCISCO--(BUSINESS WIRE)--Scout RFP, a leader in cloud-based strategic eSourcing solutions, is pleased to announce banner growth in 2017, including reaching over $13 billion worth of spend managed through Scout Pipeline.
This November, Scout celebrated the one-year anniversary of key sourcing tools Pipeline and Intake, which are now driving returns of 10x or more for customers such as Zebra Technologies and VSP Global. Scout Intake and Pipeline give users the ability to collect cross-department sourcing projects in one place. This, in turn, allows them to track, manage, and forecast projects, sourcing events, and contracts; streamline supplier management; and make budget decisions based on the pipeline request model. Recent Scout customer research also found that 89 percent of Scout customers launch their first event within a week of implementation, 90 percent report benefits to their overall cash position, and 84 percent see improved communication across the company.
Over the past year, Scout has grown its customer base to more than 110 customers globally, and expanded its team by 160 percent. Due to this growth, the startup will transition to a new San Francisco headquarters at 123 Mission Street in December.
In June, Scout closed $15.5 million in Series B funding, led by Menlo Ventures, to expand engineering, extend its reach to serve global customer demands, and accelerate the innovation of its sourcing platform. The eSourcing provider also enhanced platform features in 2017, including Scout Contracts, Questionnaire Builder, Supplier Directory, and expanded language offerings.
“In 2017, we hit the $13 billion mile-marker for spend managed through the Scout platform,” said Scout CEO Alex Yakubovich. “Additionally, we achieved several very notable milestones in 2017, including Series B funding, being recognized as a Gartner Cool Vendor, key product launches, and exciting customer and team growth. As we move into 2018, we’re positioned to build on the past year’s momentum by expanding our brand into new markets; launch Spark, our first customer event; and continue to make sourcing simpler, smarter, and more strategic for businesses across the globe.”
For more information on the Scout platform, visit www.scoutrfp.com.
About Scout RFP
Scout, also known as Scout RFP, provides a new breed of cloud-based strategic sourcing solutions that help organizations source faster and achieve better business outcomes. Leading brands like Adobe, Biogen, CEMEX, Splunk, easyJet, ServiceNow, Owens Corning, and PayPal trust Scout’s automated sourcing and auction platform to deliver greater value through collaborative business engagement. Over 30,000 active users across 89 countries have chosen Scout’s simple, effective interface to streamline supplier selection, centralize data, manage contracts, and make more informed purchasing decisions, faster. Scout is headquartered in San Francisco, and funded by New Enterprise Associates (NEA), GV, and Menlo Ventures. Scout was recently recognized as one of Gartner’s 2017 “Cool Vendors” in Procurement and Sourcing Technology. To learn more, please visit scoutrfp.com and follow us on Twitter @scoutrfp or LinkedIn.
