Mercanis secures $10 million in seed funding round

Berlin: Start-up Mercanis receives USD 10 million for efficient procurement solutions with over 40% cost savings through digital processes. Investors: Signals.VC, DI Technology, Speedinvest.

Berlin / Sunnyvale, August 17, 2023 - Berlin-based start-up Mercanis has successfully raised $10 million in a seed funding round. The funding round was led by well-known investors such as Signals.VC, DI Technology and Speedinvest. Also participating were experienced business angels such as Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana) and Victor Jacobsson (Klarna).

Mercanis focuses on optimizing procurement processes and supplier management, potentially leading to over 40% cost savings. This solution has been recognized as a Cool VendorTM by Gartner®. The new funding will be invested in continuing research, product development and AI applications to drive sustainable growth.

The support in this funding round underscores the importance of our advanced procurement software. In the midst of economic uncertainty, we provide not only growth opportunities, but also cost efficiency and risk management for our customers.

Fabian Heinrich, CEO and co-founder of Mercanis

Since its founding in 2020, Mercanis has strived to modernize the procurement process through automation and AI. The company plans to use the fresh funds to further develop its products and leverage the potential of AI within its Procurement Suite. This suite already integrates Large Language Models (LLMs) for contract analysis and autonomous procurement processes.

Mercanis' software responds to macroeconomic challenges and emphasizes the role of procurement. The combination of process automation, predictive analytics and AI offers clear added value to companies.

Dr. Daniel Kirchleitner, General Partner at signals.vc

The current macroeconomic situation and inflation have increased financial pressures on companies and heightened the need for innovative technologies. Sven Novak, Director Global Indirect Procurement at Amer Sports (e.g. Wilson), noted that Mercanis' software provides companies with efficiency and transparency and supports capacity expansion in times of crisis.

Mercanis has already acted as a trusted partner for major companies such as Linde, Wilson, Arcteryx, as well as well-known mid-sized companies such as weinor, Oventrop and Frutiger.

About Mercanis: Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis has established itself as a leading procurement suite solution. The company offers solutions in the areas of spend analytics, sourcing & request events (RFx), supplier management (SRM) and contract management. This approach enables companies to achieve significant savings through automation. Mercanis' work is supported by investors such as SpeedInvest, DI Technologies, Signals.vc and the Plug and Play Tech Center.