Tropic is the platform of record for SaaS that provides data, tools and services to automate SaaS procurement for tech-forward companies, saving them money and time.
Tropic is transforming procurement to accommodate the new world where cloud-based software powers business, as opposed to hardware, materials, and data centers.
Tropic was founded in 2019 by David Campbell and Justin Etkin. The company is headquartered in New York, New York.
Tropic enables companies of any stage to deploy a more efficient SaaS procurement process in one click, bringing many historically separate systems under one platform for the first time.
Tropic’s hybrid approach is differentiated in the market, by providing services for purchasing software as well as end-to-end tools that enable the procurement process.
Tropic currently has 150 customers, including Notion, Nextdoor, Faire and Flatiron Health. Tropic has processed transactions for more than 1,500 vendors to date.
Tropic is backed by Insight Partners, Canaan Partners, Founder Collective, Mo Koyfman’s new fund Shin, and others. The company raised $40M in Series B round on Feb 15, 2022. This brings Tropic's total funding to $67.1M to date.