Stotles Raises £10m to Expand into US Market

Stotles, a London-based company dedicated to helping private sector suppliers access public sector contracts more efficiently, has successfully raised £10 million in a Series A funding round led by Headline and Acton, with participation from Form Ventures and Seedcamp. Founded in 2020 by Taj Kamranpour, John Witt, and Carsten Schaltz, Stotles leverages AI to optimize and streamline the procurement process, analyzing government data to identify lucrative public sector opportunities for suppliers. The company’s AI-driven platform aids suppliers by assessing tender opportunities, thereby preventing time wasted on unlikely prospects. With significant public sector spending globally, Stotles positions itself as a crucial tool in navigating the complexities of public contracts, aiming to expand its reach into the US market. According to Stotles CEO, John Witt, the company aims to assist businesses successfully adapt to evolving public sector procurement policies, especially amidst governmental shifts towards efficiency and cost reduction. The technology is already utilized by renowned companies such as Amazon Business, Salesforce, and SAP to name a few.