Stimulus, a Philadelphia-based relationship intelligence (SaaS) startup in the supply chain space, raised an oversubscribed $2.5M seed round.
The Stimulus' Relationship Intelligence Platform (SRIP) stands out in the industry as it combines data insights, relationship-building tools, and a proprietary score to help companies make the best sourcing, procurement, and purchasing decisions, while optimizing and growing their supplier ecosystems.
The platform provides visibility to enable sourcing and procurement teams to analyze supplier data and view actionable insights - helping companies build honest, transparent relationships that lead to better business outcomes. The goal isn't just to save money or streamline the supply chain but to fulfill business objectives including location-based and DEI criteria by easily comparing suppliers using relevant metrics and data points, and quickly matching them to available contract opportunities.
Founder and CEO of Stimulus, Tiffanie Stanard, is an award-winning entrepreneur and former executive in vendor management with over 15 years of experience working with vendors and suppliers for some of the largest publicly traded companies in the United States. She holds a Bachelor of Science in business management. Stanard has been named One of the 15 Women Changing the Face of Tech, Top 20 Female Cloud Leaders in 2021, among many more honors.
Stimulus launched the platform in 2020, has a team of 8 and has grown its revenue 4x in the six figures. The product can work across industries but have gained traction within Healthcare, Education and Professional Services. Stimulus previously raised a $1M pre-seed round with non-dilutive, dilutive and debt capital from Google for Startups, StartupPHL, Juno Capital, Darco Capital, Gabriel Investments, Segal Ventures, Microsoft Partner Capital Fund, and angels.
Tiffanie Stanard, Founder/CEO - Stimulus
This funding round will go towards expanding the Stimulus Platform, hiring in three areas: engineering, data and sales; and expanding partnerships with companies that have a shared goal of building better relationships with their suppliers and diversifying their supply chain.
