TampaBay.Ventures has led a seed investment in Procoto, a Y Combinator graduate and procurement platform based in St. Petersburg, Florida, aiming to support the growth of local tech innovation.

Target Information

Procoto, based in St. Petersburg, Florida, is a procurement and spend analysis platform designed for businesses. Founded by childhood friends Michael Otis and Ryan Muckel, Procoto emerged from the renowned Y Combinator startup accelerator program, becoming the first such graduate in the Tampa Bay area. The company's mission is to democratize access to modern sourcing management tools, making them available to small and medium-sized enterprises (SMEs) at a fraction of the typical costs associated with enterprise solutions.

Procoto aims to service the 28.8 million small and medium-sized businesses in the United States by providing them with essential procurement management tools, addressing the challenges they face in the procurement domain.

Industry Overview

The procurement technology sector is rapidly evolving, particularly in the United States, where businesses recognize the value of efficient procurement mana