Precoro
Precoro is a bootstrapped, Brooklyn-based SaaS company offering AI-powered procurement and spend management software to 1,000+ small and mid-size businesses across 80+ countries, covering the full procure-to-pay cycle from intake through Stripe-powered payment execution.
- Company typePrivate
- Founded2015
- HeadquartersBrooklyn, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Precoro does
Precoro is an AI-powered procurement centralization and automation platform that serves small and mid-size businesses managing spending across multiple projects, locations, or entities. Founded in 2015 and headquartered in Brooklyn, NY, the company offers a modular cloud platform covering the full procure-to-pay cycle, including purchase requests, purchase orders, accounts payable automation with AI-powered OCR (via Google Gemini and Custom Extractor), three-way matching, vendor management, expense management, contract management, spend tracking, and a recently launched payment execution layer built on Stripe. The platform is differentiated by rapid 2-8 week deployment without IT involvement, no-code workflow configuration, multi-entity and multi-currency support, and a deep integration footprint spanning NetSuite, Sage Intacct, Microsoft Dynamics, QuickBooks, Xero, and 10+ PunchOut catalogs.
Precoro operates a hybrid product-led and sales-led go-to-market, offering transparent subscription pricing through Core ($499/month) and Automation ($999/month) tiers alongside a custom-priced Enterprise plan, with an AP Module sold standalone. Distribution combines self-serve 14-day free trials and interactive product tours with sales-assisted enterprise motions. The company has 1,000+ customers across 80+ countries managing $150B in organizational spending, with named references in logistics, financial services, biotech, banking, and healthcare. It has been bootstrapped since founding with no external funding rounds, growing 2024 ARR to $3.5M from $1.4M in 2023, and holds SOC 2 Type II, GDPR, HIPAA, and B Corp certifications alongside IDC MarketScape Major Player recognition for AI-Enabled Procure-to-Pay.
Precoro firmographics
Firmographics- Name
- Precoro
- Legal name
- Precoro, Inc.
- Website
- https://precoro.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Precoro is a bootstrapped, Brooklyn-based SaaS company offering AI-powered procurement and spend management software to 1,000+ small and mid-size businesses across 80+ countries, covering the full procure-to-pay cycle from intake through Stripe-powered payment execution.
- Ownership category
- akta.pro rank
Precoro industry classification
Industry- Product category
- Procurement and Spend Management Software
- NAICS
- Software Publishers (5132)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Spend Analytics & Reporting Support (BPAAAJAJ)
- akta.pro secondary industries
- Catalog & eProcurement Enablement (Punchout, Item Master) (BPAAAJAI), Vendor Master Data Management & Onboarding (BPAAAJAB)
Keywords
Where Precoro is headquartered
LocationHeadquarters
- HQ city
- Brooklyn
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Precoro business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- Subscription SaaS Revenue: Precoro operates as a cloud-based SaaS platform offering three pricing tiers: Core ($499/month), Automation ($999/month), and Enterprise (custom pricing). All tiers are billed annually with subscription-based access to procurement modules including purchase requests, POs, invoices, approvals, and vendor management.
- Add-on Services: Additional revenue from optional add-ons including Multiple Companies management, Concierge Setup services, and Dedicated Support packages for enhanced onboarding and ongoing assistance.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Core Plan - Essential procurement needs for small teams |
| Subscription | Annual | Automation Plan - Growing teams ready to automate processes |
| Subscription | Multi-year contract | Enterprise Plan - Companies seeking savings on a global scale |
| Subscription | Annual | AP Module - Standalone accounts payable solution |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
Precoro product offering
Product offeringCore offering
Precoro sells a cloud-based AI-powered procurement centralization and automation platform that consolidates purchasing channels, automates approval workflows, and provides real-time spend visibility across projects, locations, and business units. The offering covers the full procure-to-pay cycle from purchase requests and purchase orders through invoice capture, three-way matching, vendor management, contract management, expense management, and Stripe-powered payment execution, sold primarily to SMB and mid-market companies with an enterprise tier.
Product overview
Precoro is an AI-powered procurement centralization and automation platform offering a modular architecture with add-on capabilities. The core Precoro Platform covers the full procure-to-pay cycle through integrated modules: Purchase Requests, Purchase Orders, Accounts Payable Automation (with AI-powered OCR and three-way matching), Vendor Management (with Supplier Portal), Expense Management, Payment Automation (powered by Stripe), Contract Management, Intake Management, Spend Management, and Inventory Management. AI capabilities are delivered through features including AI Assistant for conversational analytics, AI Contract Agent for contract Q&A, AI Dashboards for real-time insights, and AI-Powered OCR (Google's Custom Extractor) for invoice processing. The platform is offered through four pricing tiers: Core ($499/month), Automation ($999/month), Enterprise (custom), and a standalone AP Module. Precoro serves 1,000+ customers managing $150B+ spend across 80+ countries with deployment options in 2-8 weeks.
Differentiator
Problem solved
Functional benefit
Products and services
- Precoro Platform AI-powered procurement centralization and automation platform that consolidates purchasing channels, automates approval workflows, and provides real-time spend visibility across projects, locations, and business units for SMB, mid-market, and enterprise customers.
- AP Module Standalone accounts payable automation module for teams focused solely on AP work, including budget management, AI-powered invoice capture, vendor onboarding, approval workflows, and accounting integrations; can be purchased separately from the full Precoro procurement platform.
- Precoro Payments Integrated payment execution module that lets finance teams execute invoice payments (ACH, same-day ACH, wire, international) directly within the Precoro procurement workflow, powered by Stripe with funds held at Fifth Third Bank, N.A. and automatic ERP synchronization.
- Precoro Mobile App Native iOS and Android application extending the Precoro Platform with on-the-go purchase request creation, PO approval, order tracking, receipt-photo expense submission, and spending visibility.
Quantifiable outcome
- 3x faster purchasing cycle
- +7 more outcomes
Companies that use Precoro
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
Precoro technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration25 records
AI capability10 records
Feature6 records
Precoro partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- StripecorePrecoro Payments built in partnership with Stripe enables finance teams to execute invoice payments directly within the procurement workflow. Supports ACH, same-day ACH, wire, and international payments with automatic ERP synchronization. Stripe powers the payment infrastructure while Precoro provides the procurement workflow layer.
- GooglecoreGoogle's Custom Extractor AI powers Precoro's enhanced OCR technology for invoice processing. The partnership enables automated data extraction from invoices with 95% accuracy, supporting Precoro's AI-powered AP automation module. Gemini AI is utilized for invoice reading and document understanding.
- Fifth Third Bank, N.A.coreFunds managed through Precoro Payments are held at Fifth Third Bank, N.A., Member FDIC. The bank serves as the custodian for customer funds in the payment automation feature.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Precoro competitors and assessment
Company assessmentDirect peers
- Procurify: Procurify is a direct mid-market procurement and AP automation SaaS competitor, offering purchase orders, invoice management, and spend controls. It targets the same segment Precoro serves and is explicitly named in Precoro's comparison pages.
- Zip: Zip is a venture-backed procurement and intake-to-pay platform targeting mid-market and enterprise. It competes directly in the same P2P category and is named on Precoro's competitor comparison pages.
- Tipalti: Tipalti offers AP automation, supplier management, and procurement workflows overlapping substantially with Precoro's AP, vendor management, and payments modules. It is a direct competitor in mid-market P2P and is named on Precoro's comparison pages.
- Order.co: Order.co provides AI-driven procurement and purchasing automation for mid-market companies, overlapping with Precoro's PunchOut catalog and purchase order modules. It is named in Precoro's comparison content as a head-to-head competitor.
- Airbase: Airbase combines corporate cards, AP automation, and spend management in a unified platform — overlapping with Precoro's expense management, vendor management, and payment automation modules for similar mid-market buyers.
Broad incumbents
- Coupa: Coupa is a broad spend management platform covering procurement, invoicing, and treasury across enterprise and mid-market. It is referenced in Precoro's SEO comparison pages and represents the legacy suite Precoro positions against on ease of implementation.
- SAP Ariba: SAP Ariba is the enterprise incumbent in sourcing and procurement, offering deep supplier network and P2P capabilities. Precoro implicitly positions against Ariba on speed of deployment and mid-market accessibility.
- NetSuite (Oracle): NetSuite is Precoro's most deeply integrated ERP partner, but Oracle also embeds procurement and AP functionality natively. Precoro positions itself as 'the missing layer on top of ERP,' competing with NetSuite's own expanding procurement capabilities.
Emerging players
- Ramp: Ramp is a fast-growing spend management platform combining corporate cards, bill pay, and procurement workflows. It overlaps with Precoro on AP automation and spend controls, increasingly competing for the same mid-market finance teams.
Regional players
- Sage: Sage Intacct and Sage 300 are integrated with Precoro as accounting/ERP partners, but Sage also offers procurement and AP features of its own — particularly relevant in European mid-market accounts that overlap Precoro's Berlin and Warsaw customer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Precoro social profiles
Digital presencePrecoro compliance and trust
Trust signalCompliance6 records
Precoro financial estimates
Financial estimateRevenue estimate
Valuation estimate
Precoro leadership team
Management profileNumber of profiles
Profiles1 record
Precoro funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Precoro M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Precoro
What does Precoro do?
Precoro sells a cloud-based AI-powered procurement centralization and automation platform that consolidates purchasing channels, automates approval workflows, and provides real-time spend visibility across projects, locations, and business units. The offering covers the full procure-to-pay cycle from purchase requests and purchase orders through invoice capture, three-way matching, vendor management, contract management, expense management, and Stripe-powered payment execution, sold primarily to SMB and mid-market companies with an enterprise tier.
Is Precoro a public or private company?
Precoro is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Precoro founded?
Precoro was founded in 2015. It employs 51 to 100 people.
Where is Precoro based?
Precoro is headquartered in Brooklyn, United States, in the North America region.
How does Precoro make money?
Two revenue lines are on record. Subscription SaaS Revenue is the primary driver. The others are add-on Services.
Who are Precoro's main competitors?
Direct peers on record are Procurify, Zip, Tipalti, Order.co and Airbase. Broad incumbents are Coupa, SAP Ariba and NetSuite (Oracle). Ramp is listed as an emerging player. Sage is listed as a regional player.
Does Precoro have an API?
Yes. Precoro offers API access for custom integrations. The API enables programmatic access to procurement data and functionality. API is listed as a feature in the Automation and Enterprise pricing tiers. Developer documentation is at precoro.com/integrations/about-api.
What industry is Precoro in?
Precoro's product category is Procurement and Spend Management Software. Its primary akta.pro industry code is BPAAAJAJ, Spend Analytics & Reporting Support, with a secondary code of BPAAAJAI, Catalog & eProcurement Enablement (Punchout, Item Master). Its NAICS code is 5132 and its SIC code is 7372.