What PROCOL TECH PRIVATE LIMITED does

Procol Tech Private Limited is an India-incorporated B2B SaaS company that operates an AI-native e-procurement platform spanning source-to-pay, procure-to-pay, e-auctions, and supplier management. Founded in 2017 by Gaurav Baheti (ex-Google New York, Forbes 30 Under 30) and headquartered operationally in Gurugram with a registered office in New Delhi, the company serves 200+ enterprise customers across India, the UAE, and the United States, with disclosed logos including Tata Group, Reliance Industries, IKEA, Coca-Cola, Hershey's, Zomato, Zepto, Blinkit, Lenskart, Noon, Skoda Auto, JSPL, ArcelorMittal Nippon Steel, Saint-Gobain, Zydus, DLF, M3M, Havells, Emami, Aditya Birla Group, and Rockwell Automation, and reports managing $5Bn+ in cumulative spend on the platform.

The product is organized around an Agentic AI architecture orchestrated by Clara, Procol's AI procurement agent, which coordinates specialized agents—Intake AI Agent, Autonomous Sourcing Agent, Supplier Ops Agent, Spend Analytics Agent, and Invoice Resolution Agent—across the procurement lifecycle from demand capture to invoice reconciliation. The core platform comprises Source to Pay, Procure to Pay, Strategic Sourcing, E-Auction Pro (45+ auction strategies), Vendor Portal, Vendor Onboarding, Supplier Management, and a configurable Procurement Orchestration engine, with native integrations to SAP, Oracle, ERPNext, and Microsoft Dynamics plus Slack. Procol holds ISO 27001, SOC 2 Type 2, GDPR, and cyber security certifications, and operates an AI Agent Builder that lets customers assemble custom AI-driven procurement workflows. A product-led growth layer of free utility tools—SOW Generator, Invoice Generator, Bill Generator, Receipt Generator, PO Generator, and Vendor Finder—runs without signup as top-of-funnel acquisition.

Procol's revenue is generated via multi-year SaaS subscriptions (license fees contracted per agreement) supplemented by implementation, training, and change-management professional services, with quote-based, undisclosed enterprise pricing. Distribution combines enterprise field sales led by a Director of Sales, inside sales with US/Gulf SDR coverage, and self-serve free tools. The company is venture-backed, having raised approximately Rs 51 Cr (~USD 6M) in 2022 from Peak XV (Surge), Blume Ventures, BEENEXT, Rainmatter, and other investors including Y Combinator Startup School and GMO Venture, and cites a Fortune 50 deal and Everest Group/Gartner/G2 recognition as milestones supporting its enterprise positioning.

Name

PROCOL TECH PRIVATE LIMITED

Legal name

Procol Tech Private Limited

Website

https://procol.ai

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Procol Tech Private Limited operates an AI-native e-procurement platform for source-to-pay, procure-to-pay, e-auctions, and supplier management, serving 200+ enterprise customers across India, the UAE, and the United States.

Ownership category

akta.pro rank

Product category

E-Procurement Software

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG)

akta.pro secondary industry

AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs) (HDAEANAJ)

Keywords

• E-procurement software
• Source-to-pay platform
• Procurement automation
• Supplier management
• Strategic sourcing

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Subscription: Procurement software subscription model with license fees as per agreement signed between customer and Procol. The platform grants limited, revocable, non-transferable, non-sub-licensable and non-exclusive license to use the Platform on payment of fees.
2. Professional Services: Implementation, onboarding, and support services including solution consulting, training sessions, change management, and enablement assets such as onboarding guides, how-to videos, and process documentation.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels10 records

Core offering

Procol Tech Private Limited offers an AI-native e-procurement software platform covering source-to-pay, procure-to-pay, strategic sourcing, e-auctions, vendor onboarding, and supplier management. The platform is powered by Agentic AI capabilities orchestrated through the Clara AI Agent, enabling autonomous execution of the source-to-pay cycle with specialized AI agents for intake management, autonomous sourcing, supplier operations, spend analytics, and invoice resolution. It also offers a suite of freemium standalone procurement document tools (PO, invoice, bill, receipt, SOW generators, and vendor finder).

Product overview

Procol Tech Private Limited offers an AI-native procurement platform with a modular architecture combining a core Source-to-Pay suite with specialized AI agents. The platform integrates Source to Pay, Procure to Pay, Strategic Sourcing, eAuction Pro, Vendor Portal, Vendor Onboarding, Supplier Management, and Procurement Orchestration as the foundational modules. On top of this, the company deploys AI agents including Clara (the orchestration agent), Intake AI Agent, Autonomous Sourcing Agent, Supplier Ops Agent, Spend Analytics Agent, and Invoice Resolution Agent, alongside an AI Agent Builder for no-code workflow creation. Additionally, the company provides free standalone tools including Purchase Order Generator, Invoice Generator, Bill Generator, Receipt Generator, SOW Generator, and Vendor Finder for market penetration.

Differentiator

Problem solved

Functional benefit

Brands

• Clara: AI Procurement Orchestration - Virtual assistant powered by AI for procurement automation
• E-Auction Pro
• Source to Pay
• Procure to Pay
• Strategic Sourcing
• Vendor Portal
• Vendor Onboarding
• Supplier Management

Products and services

• Source to Pay Comprehensive procurement platform digitizing the entire source-to-pay lifecycle from supplier discovery to payment, integrating AI-powered workflows and real-time spend visibility for enterprise procurement teams.
• Procure to Pay Unified platform for intake-to-pay operations featuring AI-guided buying, automated approval workflows, and AP automation with auto three-way matching for enterprise procurement and finance teams.
• Strategic Sourcing AI-powered sourcing platform enabling autonomous RFX creation, competitive bidding auctions, and multi-level BOQ management with bulk import and custom attributes for procurement teams.
• eAuction Pro Digital auction platform offering 45+ auction strategies for forward and reverse bidding, auto-generated quote comparison sheets, and counter-offer capabilities for enterprise sourcing teams.
• Vendor Portal Self-service portal for vendors to place bids, manage purchase orders, perform three-way matching, and track invoices with complete post-PO and accounts payable visibility.
• Vendor Onboarding Digital vendor onboarding platform with automated due diligence, compliance verification, and supplier discovery powered by AI for procurement and supplier management teams.
• Supplier Management Comprehensive vendor relationship management with real-time performance tracking, predictive risk management, and supplier scorecarding for procurement teams.
• Procurement Orchestration Configurable workflow engine orchestrating approvals, validations, and parallel workflow execution across procurement, finance, and business teams.
• Clara AI Agent AI-powered procurement orchestration agent enabling natural language-driven procurement initiation and autonomous execution across the entire source-to-pay cycle in under 4 days for enterprise procurement teams.
• Intake AI Agent AI agent for kickstarting procurement with smart demand capture, AI-guided request submission, and real-time tracking of procurement requests for enterprise teams.
• Autonomous Sourcing Agent AI agent automating RFX creation, negotiations, and awarding based on configurable criteria for faster sourcing cycles.
• Supplier Ops Agent AI agent automating vendor onboarding, compliance verification, scorecarding, and risk management across supplier operations.
• Spend Analytics Agent AI agent turning raw spend data into real-time insights, benchmarks, and cost control strategies with prompt-based report generation.
• Invoice Resolution Agent AI agent automating PO-to-invoice workflow including approvals, acknowledgements, and dispute resolution for finance and AP teams.
• AI Agent Builder No-code platform for building custom procurement workflows using AI, allowing users to select skills and tasks for deployment of AI agents for procurement.
• Purchase Order Generator Free online tool for generating professional purchase orders with approval-ready formats and customizable templates, available without signup.
• Invoice Generator Free online invoice creation tool with GST compliance, auto-calculations, and downloadable PDF output.
• Bill Generator Free bill creation tool supporting GST and non-GST formats with automated tax calculations and professional templates.
• Receipt Generator Free online receipt maker with multi-currency support, automatic calculations, and GST-ready templates.
• SOW Generator AI-powered free scope of work generator for creating professional SOW documents customized to user requirements.
• Vendor Finder Free supplier discovery tool for finding and comparing verified suppliers across locations and categories.

Quantifiable outcome

• Reduces PR to PO time by 40%
• +6 more outcomes

Named customers44 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability10 records

Feature10 records

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• SAPcoreTechnology or IntegrationIntegration partnership enabling seamless data synchronization between Procol's procurement platform and SAP ERP systems. Customers like Signature Global have integrated Procol with SAP bringing complete transparency to procurement.
• OraclecoreTechnology or IntegrationIntegration partnership for Oracle ERP systems enabling procurement data synchronization and workflow automation.
• ERPNextcoreTechnology or IntegrationIntegration with ERPNext open-source ERP platform for seamless procurement workflow management.
• Microsoft DynamicscoreTechnology or IntegrationIntegration with Microsoft Dynamics ERP for procurement automation and financial controls.
• KearneyflagshipStrategic or Co-development PartnerStrategic research partnership with Kearney for AI in Procurement research. Co-authored Procol X Kearney Report on 'What CFOs think about the role of AI in procurement' and CFO Dinner Circle Report on future of procurement.
• IDCminorStrategic or Co-development PartnerIDC recognition of Procol shaping the post-S2P era with Intelligent Spend OS.

Scale indicators19 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Fairmarkit: AI-driven autonomous sourcing platform for tail spend and indirect procurement. Partial overlap with Procol's autonomous sourcing and spend analytics agents, focused on the SMB/mid-market buyer.
• Keelvar: AI-powered strategic sourcing and supplier optimization platform specializing in autonomous sourcing and tender optimization. Adjacent competitor focused on the sourcing and eAuction sub-categories where Procol's Autonomous Sourcing Agent and eAuction Pro operate.

Direct peers

• SAP Ariba: Market-leading indirect spend and source-to-pay suite from SAP, integrated natively into the world's largest installed ERP base. Directly competes with Procol's S2P/P2P modules at global enterprises and is the incumbent Procol most often displaces.
• Coupa Software: Cloud platform for business spend management (procurement, invoicing, expense, and supplier management), now owned by Thoma Bravo. Direct competitor across source-to-pay, strategic sourcing, and supplier management with comparable AI-driven modules.
• Ivalua: Unified source-to-pay platform with deep configurability and spend analytics. Direct competitor to Procol in source-to-pay, strategic sourcing, and supplier management for large enterprise buyers.
• Zycus: India-headquartered AI-driven source-to-pay suite and one of the most direct peers to Procol in the Indian enterprise procurement market. Competes head-to-head on the same modules (sourcing, eAuction, supplier management) and similar buyer profile (TATA, Reliance-class conglomerates).
• GEP: Procurement and supply-chain software plus managed services provider offering SMART by GEP for source-to-pay. Directly competes with Procol's enterprise procurement suite and shares the same mid-market-to-Fortune 500 buyer profile.
• Jaggaer: End-to-end procurement platform covering sourcing, supplier management, contract management, and spend analytics. Directly competes with Procol across the same S2P modules, especially with manufacturers and large enterprises.

Broad incumbents

• Oracle Procurement Cloud: Procurement module within Oracle Fusion Cloud Applications ERP suite. Indirect competitor that competes by bundling procurement with broader ERP, finance, and supply-chain capabilities — overlapping with Procol on ERP-integrated S2P use cases.
• Zoho (Zoho Books / Inventory): Broad India-rooted business software suite (CRM, finance, inventory, procurement) with overlapping PO, vendor, and invoice modules to Procol's free tools and SMB-grade procurement features; competes in India market on affordability and breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ProcolAI
• LinkedInlinkedin.com/company/procolai

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

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 PROCOL TECH PRIVATE LIMITED