Stimulus, a Philadelphia, PA-based relationship intelligence (SaaS) startup, raised $2.5M in Seed funding.
The round was led by Black Ops VC, with participation from Genius Guild, Morgan Stanley, Northwestern Mutual Future Ventures, REFASHIOND Ventures, Bronze Valley, The BFM Fund, Plain Sight Capital, Penn Medicine – Wharton Fund for Health.
The company intends to use the funds to go towards expanding the Stimulus Platform, hiring in three areas: engineering, data and sales; and expanding partnerships with companies that have a shared goal of building relationships with their suppliers and diversifying their supply chain.
Led by CEO Tiffanie Stanard, Stimulus provides the Relationship Intelligence Platform that combines data insights, relationship-building tools, and a proprietary score to help companies make the best sourcing, procurement, and purchasing decisions, while optimizing and growing their supplier ecosystems. The Stimulus Score evaluates suppliers to provide an objective view of performance, which provides a 360 view for buyers to engage better with current or future vendors.
The product can work across industries but have gained traction within Healthcare, Education and Professional Services.
FinSMEs
12/08/2022
This is where Stimulus comes in.
The platform provides visibility to enable sourcing and procurement teams to analyze supplier data and view actionable insights – helping companies build honest, transparent relationships that lead to better business outcomes. The goal isn’t just to save money or streamline the supply chain but to fulfill business objectives including location-based and DEI criteria by easily comparing suppliers using relevant metrics and data points, and quickly matching them to available contract opportunities.
“We are excited that Genius Guild Greenhouse Fund’s has invested in Stimulus. At a time when the focus on corporate social responsibility is at an all-time high and when supply-chain woes are a constant presence in our news headlines, the conditions are ripe for a solution to the complex management of vendor and supplier relationships.” Kathryn Finney, Managing Partner, Genius Guild Greenhouse Fund.