T

Tropic

www.tropicapp.io link_icon

Company Research Report: Tropic Technologies



Company Overview



Name and Mission


  • Company Name: Tropic Technologies

  • Mission: Tropic is committed to making technology a buyer's market, enabling growth efficiently.


Founding


  • Founded: 2019

  • Founders: David Campbell and Justin Etkin


Key People


  • David Campbell - Co-Founder & Chief Executive Officer

  • Justin Etkin - Co-Founder & Chief Operating Officer

  • Maya Connet - VP, Global Sales

  • Liesl Geier - Chief Marketing Officer

  • Russell Lester - Chief Financial Officer

  • Srinivas Somayajula - VP, Product & Data

  • Sarah Travaglio - VP, Customer Success & Account Management

  • Nathan Verni - Chief Technology Officer


Headquarter


  • Headquartered: No specific location mentioned.


Number of Employees


  • Employees: No information is available.


Revenue


  • Revenue: No information is available.


Company Recognition


  • Known For: Tropic is recognized for its AI-powered Intelligent Spend Management platform that simplifies procurement and curbs overspending.


Products



Product Offerings


1. Intelligent Spend Management Platform
  • Description: Provides tech buyers with leverage to drive savings and efficiency.

  • Key Features:

  • Intake to Procure: Automates and unifies the buying process.

  • Reporting & Analytics: Monitors spend to eliminate waste.

  • Supplier Intelligence: Offers commercial intelligence on key software suppliers.

  • Price Benchmarks: Provides on-demand benchmark pricing for SaaS vendors.

  • Services: Leverages subject matter experts for optimal terms.


2. Platform Features:
  • Contract & Renewal Management: Streamlines contract workflows and renewal processes.

  • ERP Integrations: Enhances spend and request management.

  • Supplier Intelligence: Delivers unbiased supplier data and insights.


Recent Developments



Recent Developments


  • Partnerships:

  • NetSuite Collaboration: Tropic is now built for Oracle NetSuite’s SuiteCloud Platform, enhancing spend management capabilities.

  • Caliper Partnership: Announced a strategic partnership with Caliper for comprehensive spend optimization.


Product Enhancements


  • AI-Enabled Technology: Continuously analyzes and refreshes data for negotiation leverage.

  • Workflow Studio: Introduced to put spend control and compliance on autopilot.

  • Shadow Spend Detection: New feature to stop unnoticed expenditures.


Feature Additions


  • Integration with Coupa: Provides end-to-end intake-to-pay solutions.

  • Renewal Calendar: Introduced to stay ahead of contract renewals.


Funding Milestones


  • April 2020: Secured $2.1M in Seed Funding.

  • August 2021: Secured $25M Series A Funding.

  • February 2022: Secured $40M Series B Funding.


Leadership Changes


  • Russell Lester: Joined as CFO to lead financial strategy.

  • Liesl Geier: Appointed as CMO to expand marketing capabilities.

  • Maya Connet: Appointed as VP of Global Sales to drive sales growth.


Platform Evolution


  • May 2023: Transitioned Tropic to a true SaaS platform.


This report is structured around the currently available information. For fields where no specific data was found, please refer to "No information is available."