Achieves $3M Series Seed Preferred Capitalization to Accelerate Market Penetration of Its eProcurement Solution


Georgette Kiser, Naples Technology Ventures Advisory Board Member, Industry Leader and Former Managing Director and Chief Information Officer of The Carlyle Group, Joins the Board

MENLO PARK, Calif./ACCESSWIRE/July 11, 2022/, a market-leading end-to-end e-procurement solution designed for global enterprises, today announced a $3 million capital funding round from Naples Technology Ventures’ Seed Preferred series. Funds raised will be used to accelerate growth, add features and improve marketing efforts.

Georgette Kiser, Advisor at Naples Technology Ventures, will join the iQuantum Board of Directors. In addition to a strong educational pedigree, Ms. Kiser brings decades of leadership expertise to iQuantum. His long-term track record of business leadership, achievement and value creation will play an important role in ensuring iQuantum’s success as it drives growth in the market.

As companies seek to become hyper-competitive in a rapidly changing supplier ecosystem amid growing supply chain complexity, they are also grappling with the need to focus more on deep and rich metrics, visibility and control of all of their supply chain spend. iQuantum enables its dozens of global corporate clients to integrate a broad base of highly efficient, accurate and easy to deploy eProcurement solutions. iQuantum’s global supplier database provides procurement teams with an indispensable source for finding qualified new suppliers across a wide range of categories and diversity statuses to increase their competitive advantage. iQuantum’s robust diversity and ESG solutions provide procurement teams with much-needed integrated diversity spend analysis, while maintaining ESG compliance throughout their supply chain. iQuantum’s Punch-out-to-go-ready purchasing solution enables businesses to set up robust ordering and invoicing processes. Its advanced AI-based predictive capabilities combined with an exceptionally smooth user experience result in high levels of user adoption.

“All of our global enterprise clients have come to us with a common theme of challenges – and that is how to move beyond their outdated e-procurement solutions while combining solutions that address new challenges such as managing miscellaneous spend, supplier diversity, contract lifecycle management, spend analytics, with agile, lightweight yet very powerful solutions.This is where we at iQuantum pride ourselves on exceptional value that we offer to our clients. The need for a newer and more modern approach to eProcurement is not only urgent, but continues to be more so with every passing day,” said Hetal Mehta, CEO of iQuantum. “With the additional investment and expertise provided by Naples Technology Ventures, we will be able to accelerate the growth of iQuantum’s rapidly expanding customer base and the teams that enable us to effectively serve between these customers.”

“We are delighted to have invested in iQuantum because of the critical impact they have within an organization. With the iQuantum app, companies are able to achieve massive efficiencies while minimizing catastrophic risk and saving significant time and money,” said Mike Abbaei, Managing Partner at Naples Technology Ventures.

About iQuantum

Founded in 2018, iQuantum is a suite of one-stop e-procurement SaaS solutions that unifies and simplifies multiple areas of the procurement and purchasing process, including diversity spend management, contract management, supplier relations and purchasing management. Designed for the Global 5000, iQuantum brings radical new capabilities and efficiencies to global enterprises. For more information about iQuantum, please visit or email [email protected].

About Naples Technology Ventures Naples Technology Ventures is a venture capital firm that invests in early stage technology and services companies. NTV seeks companies that demonstrate high value and demonstrate presence in emerging and/or expanding markets with both a Software-As-A-Service (SaaS) model and/or a service-based model. NTV focuses on investments in Seed and A+ series rounds. For more information visit or email us at [email protected]

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