We’re excited to announce that Scout RFP has raised financing from leading venture capital firms New Enterprise Associates (NEA), Google Ventures, Zapis Capital and a group of amazing angels (Richard King, Howard Mandel, Morris Wheeler, Jason Payne, Gavin Turner, Techammer, & Tim O’Shaughnessy). Today’s press release chronicles the funding details, but what really makes this milestone something to celebrate is all of the steps that led us here, and how this round will fuel the next leg of our journey.
The idea for Scout RFP came as my co-founders and I were working to build ONOSYS, an online and mobile food ordering service. We were constantly responding and issuing RFPs to build our business. While bringing on new customers was fun, dealing with formal buying events really wore our team down. We researched where we spent the most time in that process, discovering what many already know – spreadsheets, Word documents, and emails are the key tools in that process which made things incredibility inefficient.
After ONOSYS was acquired by livingsocial, we decided to find out if others felt the same way. Our conversations with buyers and suppliers quickly confirmed that the frustration we felt was widespread—clearly there was an opportunity to reduce the friction associated with running RFPs and buying events. So the five of us got busy and started developing Scout RFP!
Our mission was simple: to rid the world of manual steps in the buying process so that buyers and suppliers could more effectively run their businesses, and do so in a way that was easy to implement with little cost compared to existing sourcing enterprise products. Nothing crazy, I know, but something that isn’t easily found in the world of enterprise software today.
Today, Scout RFP is live and doing just that, making the RFP process painless, supporting more than 600 users across 15+ brands, helping buyers and suppliers easily run RFPs, RFQs, RFIs, quick-quotes, and other events. Some of the core features in the current product include:
- Dashboards & Templates
- Instant Bid Tabulations
- Pricing Analytics
- Q&A Management
- File Management
- Automation of numerous other tedious and time-intensive tasks
Now that we’ve got some extra fuel in our tank, we are going to focus on some major product development. Some of the exciting new features you can expect to see from us this year include:
- Offline Bid Completion
- NDA Management
- Multi-Round Bidding
- Supplier Tagging
- Single-Sign-On (SSO) Support
- Internal Messaging
Partnering with leading angels and investors at NEA and Google Ventures means we can accelerate our growth and gain some deeply experienced advisors in the process. As we focus on building out Scout RFP, our Cleveland roots have extended West with new digs in San Francisco, in proximity to our investors and one of the world’s highest concentrations of potential customers. It’s a big move—the first of many for Scout RFP—and we plan to share highlights as we launch into this next leg of our journey. I hope you’ll check back soon, and follow us @scoutrfp for updates with fewer characters.