Growth Funds for Procurement Sector Analyst

Procurement sector intelligence and analytics specialist Beroe has closed the first tranche of a $10m funding round, which it will use to invest in category expertise and technology, while growing company revenue.

Founded in 2005 by Vel Dhinagaravel, Robert Handfield and Mitch Javidi and based in Holly Springs, North Carolina, Beroe provides predictive, real-time market intelligence and analytics to procurement teams worldwide. In addition, the firm offers specialized benchmarking, forecasting and costing models to deliver procurement insights.

New funding has been led by private equity group the Access India Fund. CEO Dhinagaravel (pictured) comments: 'Access' vast experience with services companies of similar size and their shared vision and ambition for our business makes it a perfect partnership. I look forward to the fast track growth journey we have ahead of us'.

Web site: www.beroeinc.com .