A Pittsburgh-based sustainable procurement startup has landed its first major investment as the budding company looks to offer a software-as-a-service (SaaS) platform to businesses so these entities can better meet their respective environmental goals.
With the close of its $1.5 million seed round, Kloopify has also become the first local startup to score a deal from Pittsburgh-based Black Tech Nation Ventures, which led the round, and The Fund Midwest, one of several other seed-level investors for the company. Both of these venture capital firms have been scouting for a Pittsburgh startup to invest in tor over a year and it's likely just the first of many to come in the future.
"We’re seeing significant disruption throughout the supply chain as businesses strive to reach net zero," Kelauni Jasmyn, general partner at Black Tech Nation Ventures and a Kloopify board member, said in a prepared statement. "With new disclosure regulations coming from the ISSB and SEC, waiting to implement green strategies is no longer an option. Today, Kloopify is the strongest solution providing near-time visibility into the emissions associated with procurement and turning sustainability goals into action."
According to Daniela Osio, Kloopify co-founder and CEO, the funding will help the company grow the features and functionality of its platform. She said the company is also hoping to grow from its current full-time employee count of two people to 10 by the end of the year.
"We are a procurement solution for procurement professionals that will be able to increase the data sets that we'll have available to procurers and to make sure that we're building a technology solution that makes it simple and easy to take these sustainability objectives and goals that organizations have publicly announced and make them a reality and take action towards them," Osio said. "It's making sure that our technology continues to scale and grow as the different business needs continue to develop."
Osio said the company is producing revenue but declined to share specific figures at this time. The startup has previously served in a cohort of PGH Lab, which looks to offer startups real-time feedback on their products from the perspective of a local government customer. It also counts Pittsburgh International Airport and Carnegie Mellon University among its customer list.
The time to act on sustainability efforts for many companies is now, Osio said, and Kloopify is vying to be the partner that helps these businesses achieve these goals.
"Change has been set in motion when it comes to sustainability, and those who act quickly will be able to steal the hearts of customers," Osio said. "We have that unique opportunity here to take advantage of the shifting landscape, and Kloopify is uniquely positioned to do that. We are setting ourselves and our sights high, and it is an honor and a privilege to be the first to receive this backing and this funding from such incredible investors. But I think it speaks to the technology, speaks to the opportunity, and it speaks to who we are as a team and what we will be able to accomplish."
