Founded in Toronto in 2008, Tealbook is an innovative, cloud-based platform that enables users to store, retrieve, and manage business documents, such as spreadsheets and reports. It offers a complete set of tools and solutions that make it easy to collaborate with clients and manage their documents. Now, the company has more than 350 employees and has experienced an impressive 350 percent revenue growth. They have also been named a Partner with SAP, which helps to ensure that they can provide the right solutions for their clients’ needs.
During her early career, Stephany Lapierre, CEO and founder of TealBook, had an epiphany when she realized that there was an opportunity to automate a supplier’s information. She built a successful consulting firm that served pharmaceuticals and healthcare organizations. But she noticed a gap in the market: buyers needed a way to quickly and easily access supplier data, including contact information, to make smart purchasing decisions.
The solution was an AI-based data enrichment platform that tapped into unstructured sources to help businesses find the supplier data they were looking for. TealBook’s system also has the added benefit of reducing the cost of recurring services such as data cleanup and updating supplier portals. It also reduces the time it takes to verify supplier information.
TealBook has secured funding in several rounds, including a $50 million Series B round led by Ten Coves Capital and a $40 million Series A round led by Silicon Valley Bank and other venture capital firms. The company also plans to hire additional executives to help fuel global expansion. In addition, it plans to build solutions for the SAP Ariba portfolio. In January of this year, TealBook also made a splash by becoming one of the first vendors to join the SAP PartnerEdge program.
Partners with SAP
Whether you’re looking for supplier diversity data, or reporting capabilities to support your procurement process, TealBook has you covered. The supplier data platform uses artificial intelligence (AI) and machine learning (ML) to power e-procurement technology. Using the TealBook platform, you can discover new sources of supply, uncover hidden spending trends, and find new sourcing opportunities. You can also use the supplier data platform to manage your supplier diversity program and automate supplier diversification status management.
TealBook’s platform can be integrated with your e-procurement solutions, including SAP Ariba. It can also provide a real-time, comprehensive view of your supplier base. In addition, it can help you find new, untapped procurement channels, as well as identify emergency sourcing options. With TealBook’s integrated supplier diversity data, you can automate supplier diversity status management, enabling you to meet your business goals.
TealBook is a supplier data platform that uses AI and ML to search the web for publicly available supplier information. It then enriches the data, and automatically distributes it to your organization. This way, your team can access the most accurate and up-to-date information.
350% revenue growth
Powered by AI and machine learning, TealBook is a supplier data intelligence platform that helps companies find and evaluate the right suppliers. This has led to TealBook securing a number of partnerships with major companies including Workday, SAP, JAGGAER, and RiskRecon. The company plans to expand its team to fuel its global expansion.
The company has two main products, including its flagship product, TealBook, which is a supplier data intelligence platform that helps organizations evaluate their supply chain. The platform has a variety of features and functions, including an online dashboard, executive contact info, and a supplier descriptions section. These features help companies streamline their procurement processes and meet ESG requirements. Another product, Paxafe, offers a more comprehensive view of business-to-business supply chains by using AI and machine learning to categorize data.
The company also boasts a handful of interesting partnerships, including the SAP PartnerEdge program and the SAP Customer Match program. Its partnerships also include Workday, RapidRatings, JAGGAER, Ivalua, and EcoVadis.