SaaS company Chili Piper

August 11, 2022, Stimulus Inc., a Philadelphia-based relationship intelligence (SaaS) startup in the supply chain sector, raised a USD 2.5 million seed round from several notable investors, including Black Ops Venture Capital, Genius Guild, Morgan Stanley, Northwestern Mutual Future Ventures, REFASHIOND Ventures, Bronze Valley, The BFM Fund, Plain Sight Capital, Penn Medicine – Wharton Fund for Health, and a large number of angel investors.

Black Ops VC’s general partner, James Norman:

“Tiffanie’s expertise in the field was immediately apparent despite her years of involvement with the issue. Stimulus is a sophisticated solution with a user interface created especially for enterprise procurement teams’ workflow. Our staff was eager to support the platform and Tiffanie because we could see the gap in the market.” 

According to Moiz Dawoodbhai, Northwestern Mutual Future Ventures’ Assistant Director of Strategic Investing:

“Black Ops VC was named as one of Northwestern Mutual’s $100 million impact fund beneficiaries last year. Through the Northwestern Mutual Black Founder Accelerator, we are excited to make an investment in Stimulus with Black Ops Ventures. Coinvesting in Stimulus is just the beginning; as we strengthen the ecosystem to close the racial equity gap, we’ll keep connecting Black innovators to more funding opportunities.”

Stimulus started the platform in 2020, has an 8-person staff, and has experienced a four-fold increase in a six-figure income. Although the product can be used in any industry, it has succeeded in the healthcare, education, and professional services sectors. Before this, Google for Startups, StartupPHL, Juno Capital, Darco Capital, Gabriel Investments, Segal Ventures, Microsoft Partner Capital Fund, and angel investors contributed $1 million to the pre-seed round of funding for Stimulus.

 Brian Laung Aoaeh,  CFA – Founder & Managing General Partner, REFASHIOND Venture:

“Because of the increasing complexity of the world, sourcing, and procurement can provide significant, strategic competitive advantages. Because we have complete faith and confidence in Tiffanie’s leadership, we invested in Stimulus. We think the Stimulus team has the ideal mix of skills to address the issues that sourcing and procurement organizations face.”

Supplier spending exceeds any other balance sheet item since procurement is an organization’s single most significant cost driver. Most business-to-business sales take place in person and are relationship-driven. By 2025, 80% of supplier-buyer interactions in business-to-business sales will take place online, according to Gartner. Due to the lengthened purchasing cycle and the involvement of numerous stakeholders, this is of utmost importance.

Stimulus can help in this situation. The Relationship Intelligence Platform (SRIP) from Stimulus is unique in the market because it combines data insights, relationship-building tools, and a personal score to assist businesses in making the best sourcing, procurement, and purchasing decisions while enhancing and expanding their supplier ecosystems.

The platform offers visibility so that sourcing and procurement teams may examine supplier data and obtain useful insights, assisting businesses in developing sincere, open partnerships that provide better business results. By promptly matching suppliers to open contract opportunities using pertinent metrics and data points, it is possible to achieve business objectives, such as location-based and DEI requirements, in addition to saving money and streamlining the supply chain.

We try our  best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by! 

Next Article

Previous articleCanada-based Neurotech startup Interaxon Inc raises USD 9.5 million in Series C funding
Next articleTOP 10 Beauty Startups worldwide
Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

LEAVE A REPLY

Please enter your comment!
Please enter your name here