In 2020, our co-founders Taj, Carsten, and John started Stotles with the vision of building technology to transform the world's biggest (and most overlooked) market: business-to-government.
Today, we’re excited to announce that we’ve raised a $6.5 million seed round led by Headline to take our technology, our team, and our vision to the next level.
This brings our total funding to over $9 million from world-class investors. We're proud to have Headline, SpeedInvest, Form Ventures, GTMFund, FJLabs, 7Percent, Seedcamp and a number of world-class angels on our team.
Everyday, we see the painful friction public sector buyers and their suppliers face -- fragmented data, complex regulation, heavy compliance, messy workflows. This recent round of funding will help us take the next steps to alleviate these burdens, starting with suppliers.
With this funding round, we plan to increase product development, grow our team, and expand into new segments of the public sector. Excitingly, we’re also developing our capabilities in new locations beyond the UK to help with similar challenges globally.
We believe the business-to-government market is severely underserved, despite it being the backbone of the global economy.
By streamlining the processes that connect business and government, the technology we’re building is capable of saving the world trillions every year whilst simultaneously boosting profits for businesses - that’s something we get excited about.
None of this would be possible without our world-class team of innovative engineers, designers, salespeople, growth marketers, and customer success champions.
Now is the best time to join! We’ve doubled our headcount over the last year and plan to do the same over the coming months. We’re creating new roles across product, sales and customer success. If you’re excited by what we’re doing at Stotles and interested in massive opportunities for personal and professional growth, we want you! See all open roles at join.stotles.com
Current open roles include:
Christian Miele, Partner at Headline and Chairman at the German Startups Association sees nothing but potential in this space. “I hear it daily from the highest level of governments: digitisation of public procurement is the single most important key to unlocking the future of the global public sector. Stotles is the team to enable this revolution globally and we couldn’t be more thrilled to back them.”
Jeroen Arts, Partner, Speedinvest's Marketplaces & Consumer team, said: “Who said working with the public sector can't be fun and exciting? Over the past 1.5 years, Stotles has helped top-tier companies like UiPath, Freshworks, and Workday do more business with some of the world's largest buyers. With this funding, John, Taj, and Carsten will be able to further simplify and enhance public procurement to ensure that every penny of taxpayer's money yields the best returns.”
'Stotles raises $6.5m investment to target public sector', written by Christine Horton at Think Digital Partners.