We are thrilled to announce that Procurement Sciences has been named to Bain Capital Ventures Top 50 Vertical AI SaaS List for 2024. This recognition highlights our commitment to leveraging artificial intelligence to revolutionize the government contracting (GovCon) industry.
Leading AI Innovation in GovCon
Procurement Sciences has been at the forefront of using AI to solve real-world problems for government contractors. Our inclusion in Bain Capital Ventures’ list underscores our innovative approach and the impact of our AI-driven solutions, which streamline and automate proposal, capture, and business development (BD) processes.
The GovCon industry is known for its complexity, requiring significant time and resources. Our AI platform addresses inefficiencies in proposal processes, compliance challenges, data management issues, workflow integration hurdles, and knowledge management difficulties. By automating these tasks, we enable contractors to focus on delivering innovative solutions to the government, thus enhancing their work-life balance and supporting national infrastructure.
A Year of Growth
This year has been transformative for Procurement Sciences. We recently closed a $10+ million Series A funding round led by Battery Ventures, a Tier-1 venture capital titan. Additionally, we have experienced over 900% growth in new customers and a staggering 1400% increase in annual recurring revenue (ARR). These milestones reflect our platform’s effectiveness and the trust our clients place in us, and this significant investment will fuel our continued innovation and expansion.
Our success is a testament to the passion, creativity, and dedication of our team. From engineers to customer success managers, each member plays a vital role in driving our mission forward. We are also grateful for the support and feedback from our customers, investors, and advisors, which have been crucial in refining our products.
Looking Ahead
Being named to Bain Capital Ventures’ Top 50 Vertical AI SaaS List is a significant milestone, but it is just the beginning. We remain committed to helping government contractors thrive by continuously innovating and investing in AI to tackle new challenges.
In conclusion, our inclusion in Bain Capital Ventures’ list highlights our dedication to transforming the GovCon industry through innovative AI solutions. We are honored to receive this recognition and look forward to achieving more milestones with our team, customers, and partners. Here’s to celebrating this achievement and anticipating the exciting future for Procurement Sciences!
