Procurated is a supplier ratings and reviews platform designed specifically for the public sector, providing verified buyers with access to real ratings and candid reviews of over 300,000 suppliers. This platform enables procurement professionals to make informed decisions by offering a centralized database of objective vendor references, reducing reliance on supplier-provided information.
Funding
$12.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Public sector procurement processes often lack transparency and rely on limited supplier-provided information, making it difficult for government and education buyers to assess vendor performance objectively. This can lead to inefficient spending, increased risk, and suboptimal service delivery for constituents.
Solution
Procurated provides a supplier ratings and performance management platform designed specifically for the public sector. The platform aggregates verified ratings, candid reviews, and performance insights from a community of public sector professionals, offering a comprehensive view of supplier capabilities. Procurated's AI-powered tools, including the Canary performance platform, enable procurement teams to identify and address supplier issues proactively, reducing risk and ensuring responsible use of taxpayer funds. By providing access to real-time feedback and performance data, Procurated facilitates data-driven decision-making and continuous improvement in government contracting.
Target Audience
Procurated primarily serves state and local government agencies, educational institutions, and non-profit organizations seeking to improve their procurement processes and make informed contracting decisions. The platform also caters to suppliers looking to understand their performance relative to competitors and identify areas for improvement.
Features
- Supplier profiles with aggregated ratings and reviews from verified public sector professionals
- AI-powered performance review dashboards visualizing performance trends over time
- Instant risk alerts notifying contract managers of reported poor performance
- Asynchronous business reviews facilitating digital feedback and performance management
- Competitive analysis tools comparing multiple suppliers’ performance on the same contract
- Integration with user data to verify reviewer authenticity and relevance
- AI-driven insights into supplier performance across various dimensions like inventory, customer service, and pricing