Crowdfox

The company's core offering is a SaaS platform designed to streamline the purchasing of C-parts and other non-strategic goods. It addresses the inefficiency and lack of transparency common in indirect procurement by providing a centralized, user-friendly interface. Crowdfox's business model is subscription-based, serving corporations and large SMEs. By integrating with existing Supplier Relationship Management (SRM) systems, the platform provides significant cost and time savings, reporting an average of 12% savings in indirect procurement costs.

At the heart of its technology is the proprietary UTIN® (Unique Trade Item Number) matching system. This technology assigns a unique identifier to each item by consolidating data from various supplier catalogs and marketplaces, enabling direct, apple-to-apple comparisons of price, delivery time, and ESG criteria. Building on its extensive database of over 50 million items, the company recently introduced ChatCFX, an AI-powered chatbot that further automates the procurement process, allowing users to find and order items through conversational dialogue. Crowdfox has raised a total of $11.1 million over three funding rounds, with its latest round in February 2024.