Prendio, a Boston, MA-based provider of cloud-based (Software-as-a-Service) eProcurement software and supplier marketplace solutions for life sciences, and sister company BioProcure, the leader in procure-to-pay support services for biotech, received a growth equity investment from Primus Capital.
The amount of the deal was not disclosed.
The investment will support continued organic growth, expansion into additional life sciences markets, and further innovation and product development.
Prendio provides a cloud-based eProcurement solution created specifically for the life science vertical. Built by a team of industry professionals with over 50 combined years of experience in biotech procurement, lab management, and finance, the company provides software designed to relieve the pain points felt by research teams struggling with cumbersome and inefficient procure-to-pay systems.
Since 2007, BioProcure provides procurement services, accounts payable support, and other administrative assistance to research organizations. Its team has secured billions of dollars in cost savings for the biotech research organizations they serve, relieving lab teams of countless hours of administrative work, allowing them to invest more of their time and funding into their science and drive discovery faster.
With a supplier network of more than 10,000 leading suppliers, Prendio and BioProcure’s integrated procure-to-pay solutions help streamline procurement processes, enhance supplier collaboration, and deliver financial innovation and efficiency for high-growth life science companies of all stages.
Vincent Bologna is the co-founder and CEO of Prendio and BioProcure.
FinSMEs
20/10/2023