What Procure IT does

Procure IT is a private, early-stage IT procurement and technology expense management company founded in 2023 and headquartered in Plano, Texas, with additional offices in Winter Park, Florida and Ascot, Australia. The company operates an AI-driven Managed Intelligence Platform that aggregates SaaS licensing consumption, cloud costs, contract terms, invoicing data, IT assets, and resource usage across the IT environment, and applies a five-step methodology — Aggregate, Analyze, Optimize, Source, Manage — to deliver continuous optimization across IT spend, performance, and risk. The platform is organized into six integrated modules (Asset Management, Cloud FinOps, Contract Management, SaaS FinOps, Supplier Analytics, and Technology Expense Management) and a set of use-case bundles covering CCaaS, Connectivity, Disaster Recovery, Microsoft 365, Security, and UCaaS. A Bill Pay service extends the platform into payment execution with AI-driven fraud protection against fraudulent vendor invoices.

The company serves enterprise and mid-market customers across a broad vertical set that includes state and local government, federal government, healthcare, finance, retail, education, manufacturing, logistics, hospitality, automotive, real estate, non-profit, and software companies. Its go-to-market is primarily indirect through a multi-channel partner program covering IT Advisors, MSPs, VARs, ISVs, consultants, and PE/VC firms, supplemented by selective direct enterprise sales; a strategic partnership with NetWolves (announced 2026-04-17) provides access to Fortune 1000 customers through the partner's enterprise base. Pricing is custom and not publicly disclosed, with annual billing and monetization spanning subscription-based managed services, professional services, and procurement advisory engagements. Leadership comprises CEO and Managing Partner Randy Jeter, CIO Phil Ben-Joseph, and Chief AI Officer Corey Whiting; the company has raised approximately $4.8 million in cumulative funding since inception and was named a CRN 2025 Stellar Startup.

Name

Procure IT

Legal name

Procure IT

Website

https://procureit.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Procure IT is an early-stage company that operates an AI-driven Managed Intelligence Platform for IT procurement, SaaS and cloud spend optimization, contract management, and technology expense management, primarily serving enterprise and mid-market organizations through a multi-channel partner ecosystem.

Ownership category

akta.pro rank

Product category

IT Procurement Software

NAICS

Software Publishers (5132), Computer Systems Design and Related Services (5415)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372)

akta.pro primary industry

Cloud FinOps & SaaS Spend Management (BPAEAOAH)

akta.pro secondary industries

IT Asset Discovery, Inventory & CMDB Services (BPAEAOAE), Enterprise Application License Advisory, Vendor Management & Optimization (BPAEAGAO), IT Asset Lifecycle Services (Procure-to-Retire) (BPAEAOAF)

Keywords

• IT procurement services
• SaaS spend management
• Cloud FinOps solutions
• Technology expense management
• Vendor management platform

Headquarters

HQ city

Carrollton

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Managed Services Revenue: Ongoing managed intelligence and optimization services delivered through the company's AI-powered platform, providing continuous IT spend management, performance monitoring, and risk optimization with 24x7x365 support.
2. Professional Services: Consulting and implementation services for IT procurement, technology deployment, and optimization including expertise in Cloud FinOps, SaaS FinOps, contract management, and supplier analytics.
3. Procurement Advisory Services: Strategic procurement consulting including vendor selection, contract negotiation, budget management, and deployment support for technology solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels4 records

Core offering

Procure IT provides an AI-driven Managed Intelligence Platform that aggregates and analyzes SaaS, cloud, and systems data (licensing consumption, contract terms, invoicing, IT assets, resource usage) to deliver continuous IT spend, performance, and risk optimization. The offering is delivered as a platform-plus-modules architecture (Asset Management, Cloud FinOps, Contract Management, SaaS FinOps, Supplier Analytics, Technology Expense Management) supported by managed services, 24x7x365 support, and access to 1,500+ IT vendor relationships.

Product overview

Procure IT is a managed intelligence company offering a unified platform-plus-modules architecture centered on its AI-driven Managed Intelligence Platform. The core platform aggregates and analyzes IT spend, performance benchmarks, licensing consumption, contract terms, invoicing, IT assets, and resource usage data to deliver Managed Intelligence for IT procurement decisions. The platform integrates six key modules: Asset Management (hardware/software/device visibility), Cloud FinOps (cloud cost optimization with AI-driven insights), Contract Management (vendor contract surfacing with AI alerts), SaaS FinOps (SaaS license optimization with user-level metrics), Supplier Analytics (supplier performance benchmarking), and Technology Expense Management (cross-carrier expense tracking with Bill Pay service). These modules work together as a complete procurement workflow, from initial data aggregation through continuous managed services. Additionally, the company provides IT procurement outsourcing services across multiple verticals including Automotive, Hospitality, Non-Profit, Real Estate, Retail, and State/Local Government, covering solutions such as CCaaS, Connectivity, Disaster Recovery, Microsoft 365, Security, and UCaaS.

Differentiator

Problem solved

Functional benefit

Products and services

• Managed Intelligence Platform AI-driven platform that transforms SaaS, cloud, and systems data into Managed Intelligence by analyzing licensing consumption, contract terms, invoicing, IT assets, and resource usage to deliver always-on optimization for IT procurement decisions.
• Asset Management Module providing end-to-end IT asset visibility across hardware, software, and devices with tracking, waste elimination, and asset lifecycle management.
• Cloud FinOps Managed cloud financial operations module that brings predictability, savings, and transparency to cloud spend through AI-driven insights and cost forecasting, unifying financial, technical, and business data.
• Contract Management Module that surfaces key terms, renewal dates, and hidden risks across supplier agreements with AI-driven alerts and searchable insights, including proactive renewal alerts and vendor benchmarking.
• SaaS FinOps Module providing transparency into application usage with a holistic overview of the SaaS ecosystem and user-level drill-down metrics for license optimization and application rationalization.
• Supplier Analytics Module providing visibility into spend, performance, and risk across the supplier base with hidden cost identification, performance metric tracking, and market benchmarking.
• Technology Expense Management Module providing visibility and control over IT expenses across cloud, telecom, mobility, security, UCaaS, CCaaS, Data Center, and software, with automated tracking, validation, invoice assurance, and a Bill Pay service integrated with AP and ERP workflows.
• IT Procurement Methodology Five-step managed service: Aggregate (collect IT requirements, spend, benchmarks, risk data), Analyze (interactive quantitative analysis), Optimize (blueprint for optimal technology solutions), Source (top technology vendors), and Manage (continuous enhancement via managed services and 24x7x365 support).

Quantifiable outcome

• Guaranteed cost and time savings for clients through optimized IT investments and streamlined procurement processes
• +3 more outcomes

Named customers1 record

Segments15 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature7 records

Partnerships

One partnership is on record.

• NetWolvescoreStrategic or Co-development Partner · 17 April 2026Procure IT has partnered with NetWolves to integrate AI-driven technology expense management capabilities into NetWolves' Site Connectivity as a Service (SCaaS) offering. The partnership enables Procure IT to access NetWolves' Fortune 1000 customer base while allowing NetWolves to expand its higher-margin service capture. The combined offering differentiates itself through an agnostic approach, providing visibility into customers' entire IT environments across all suppliers rather than limiting insights to NetWolves-enabled services only.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vendr: Vendr is a SaaS buying and negotiation platform that helps enterprises source, negotiate, and manage software spend — closely comparable to Procure IT's vendor sourcing and procurement advisory services.
• Zylo: Zylo is a SaaS management platform focused on SaaS license optimization, spend visibility, and application rationalization — directly competing with Procure IT's SaaS FinOps module for mid-market and enterprise buyers.
• Flexera (incl. Snow Software): Flexera offers IT asset management, software asset management (SAM), and SaaS spend management — overlapping with Procure IT's Asset Management, SaaS FinOps, and IT lifecycle offerings.
• Productiv: Productiv offers AI-driven SaaS spend and usage intelligence with user-level analytics and license optimization, overlapping directly with Procure IT's SaaS FinOps and contract management capabilities.
• Tangoe (now part of Vodafone): Tangoe provides Technology Expense Management and telecom/mobility spend optimization across cloud, UCaaS, and mobile — directly overlapping with Procure IT's TEM module and managed services.

Emerging players

• SpendHQ: SpendHQ delivers spend analysis and procurement performance solutions for mid-market and enterprise organizations — comparable to Procure IT's supplier analytics and spend benchmarking capabilities.
• Zoho (Expense/CRM): Zoho offers an integrated expense management and CRM suite used by mid-market companies — partially overlapping with Procure IT's TEM and contract management offerings, particularly for cost-conscious buyers.

Broad incumbents

• SAP Ariba: SAP Ariba is the largest enterprise procurement and supplier management suite, serving as a broad incumbent competing against Procure IT's contract and supplier analytics capabilities.
• Coupa Software: Coupa is a broad spend management platform covering procurement, invoicing, and expense management — a large incumbent that competes with Procure IT's procurement and supplier analytics modules.
• ServiceNow (ITFM/Strategic Portfolio Management): ServiceNow's IT Financial Management and SAM products overlap with Procure IT's spend management and asset modules, but as part of a much broader enterprise workflow platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Procure IT