Enterprise IT Startup Scout RFP Raises $16 Million

Scout RFP closed $16 million in Series B financing. Menlo Ventures and New Enterprise Associates participated in the round.

Founded in 2014, Scout RFP provides a new breed of cloud-based strategic sourcing solutions that help organizations source faster and achieve better business outcomes. It enables companies to streamline supplier selection, centralize data, and make more informed purchasing decisions more rapidly.

In its announcement, the company said the Series B financing will help Scout RFP expand engineering, extend its reach to serve global customer demands, and accelerate the innovation of its sourcing platform.