Can you imagine how many startup business ideas Mark Cuban must get pitched on the daily? It must take an insider connection or an insanely brilliant, new concept to win his interest, right?
This is how you impress a billionaire entrepreneur…
By sending him an email.
Aman Man, Eugene Dong, and Kenneth Loi first came up with Procurify, cloud-based purchase management software, as part of a school project at the British Columbia Institute of Technology. While they were developing their company (eventually graduating from the Vancouver-based accelerator GrowLab), their now VP of Business Development, Amarinder Sandhu, came across Cuban’s email in his book, “How to Win at the Sport of Business.”
Sandhu wrote Cuban telling him about Procurify. And… Cuban wrote back!
What made Procurify stand out from the legions of startups hoping for financial backing?
For starters, Procurify interested Cuban not just as a potential investment but as a product that could help his own businesses run more efficiently, saving him money. The combination of team and technology kept the email exchange going, contributing to the recent completion of a $1.2 million dollar seed round led by Cuban, Nexus Ventures, and the Business Development Bank of Canada.
The Procurify purchase management system eliminates administrative headaches by simplifying the purchasing process. It cuts down on paperwork, automates purchase orders, and streamlines communication between employees and management.
As far as the evolution of procurement goes, Procurify offers a scalable solution for small and medium-sized enterprises – not only simplifying purchase orders, but also helping companies improve efficiency with budgeting tools and analytic reporting.
Though business software, Procurify has clearly worked to create a friendly consumer-like interface, achieved through a straightforward and elegant design. Efforts have been rewarded in the form of numerous clients, including Hootsuite, tumblr, American Airlines and several other big brands. The young company has already stretched its user base to over 45 countries.
Matt Lim, Director of Marketing, adds:
“Procurify is disrupting the enterprise market. The established competition in the market mostly focus on providing enterprise solutions that target large corporations. The mid-sized market is largely underserved, with most solutions being too complicated to use and setup, too expensive, or lacking in key features; in most cases, the largest competitors are Ad hoc paper or excel-based systems.
Procurify can be implemented within one week and is easily integrated with any accounting software. Procurify is priced at a very affordable rate respective to other solutions and is extremely easy to use, making the solution a great fit for the mid-size market.
There are NO hidden fees or contracts!
Procurify is fully scaleable, and can scale up to meet the needs of larger clients or scale down to provide a solution to smaller organizations, without sacrificing the usability or functionality of the software.”
Keep the faith and stay the course – attending to the basics and pressing forward. Surround yourself with hard working people and build a useful, function product, and like Procurify, you too could be on your way to scoring the support of entrepreneurs with Cuban-sized bankrolls.