Propellant Ventures Makes its First Investment in Chicago-Based SupplyHive!
Propellant Ventures is excited to officially announce its first investment into Chicago-based SupplyHive! The company provides software to measure and manage supplier performance and help drive stronger relationships between corporations and their suppliers. SupplyHive was started by seasoned entrepreneur Mike Anguiano. Loud Capital also invested in this round. Reasons we liked this opportunity include:
- Seasoned Founder - The founder, who has a diverse background, previously built and sold a company in the same industry. Other team members, advisors, and investors have experience and exits in the procurement and corporate SasS solutions space.
- Market Traction - SupplyHive already has large paying clients and a robust pipeline.
- Industry Exits - The procurement tech space has seen several large exits over the last few years such as SAP acquiring Ariba for $4.3 billion, IBM acquiring Emptoris for $600 million, and Workday acquiring Scout for $540 million.
We look forward to working with Mike and his team!