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."