Today TSFV portfolio company Tealbook announced that it has raised $18.2 million CAD ($14.4 million USD) in Series A financing as it looks to capitalize on pandemic-induced supply chain disruption.
The round was led by RTP Global. New investors include Reciprocal Ventures and S&P Global, while follow-on investors include BDC Capital, Grand Ventures, Refinery Ventures, Stand Up Ventures, and Workday Ventures.
The Series A also involved debt financing from Silicon Valley Bank, and brings Tealbook’s total funding raised to date to approximately $30 million CAD ($22 million USD).
Tealbook has experienced significant growth in demand for its data products due to COVID-19. Its procurement intelligence platform aims to improve supply chain data with machine learning and artificial intelligence, giving buyers access to increased supplier information to help them make more informed decisions.
Huge congrats to Tealbook’s founder and CEO Stephany Lapierre on achieving this significant milestone!