Procuros

Thelen's background includes a Master's in Industrial Engineering & Operations Research from UC Berkeley and a period as a consultant at Boston Consulting Group, where he observed that companies globally faced similar challenges in automating B2B transaction processes. This insight, combined with his experience in sales engineering and R&D, fueled his entrepreneurial drive. Wulff, a software expert, brings extensive experience from his time at Airbus, where he was involved in digitalizing spare parts procurement, and as a co-founder and CTO of Gaia Nutrition, a startup acquired in 2021. His journey as an entrepreneur began before he was 18.

Procuros operates as a one-to-all platform that connects suppliers with their trade partners, automating the exchange of business documents like orders, invoices, and delivery notes. This is achieved through a single connection to the Procuros Integration Hub, which integrates with a company's existing ERP system within minutes. The platform is designed to handle various interfaces and technologies, including API, EDI, SFTP, and XML, effectively translating documents into a standard data model. This approach allows businesses to connect with partners regardless of their technical infrastructure, aiming to reduce manual data entry by up to 90%.

The company's business model involves a monthly basic fee plus a per-transaction charge, making it accessible for startups and scalable as their sales grow. Procuros serves a diverse client base, including companies in the Fast-Moving Consumer Goods (FMCG), industrial, and retail sectors. Notable clients include Bosch, Flaschenpost, and Reishunger.

Since its inception, Procuros has achieved significant financial milestones. After an initial pre-seed investment of €1 million in September 2021, the company secured $9 million in a seed funding round in April 2022. This round was led by Point Nine and Creandum, with participation from investors like Paua Ventures, btov, and notable angel investors. Keywords: B2B transactions, supply chain automation, ERP integration, digital integration platform, order-to-cash, procure-to-pay, EDI integration, API connectivity, automated data exchange, FMCG, manufacturing, retail, trade partner connection, supplier onboarding, B2B payments, data harmonization, business process automation, supply chain technology, SaaS, Hamburg startup, Patrick Thelen, Benjamin Wulff