Founder: Jack Macfarlane
Business: A cloud-based procurement platform that allows buyers and suppliers to communicate seamlessly.
Founded in London in 2016, DeepStream currently helps over 6,000 individual users and 3,500 companies, including industry titans such as Maersk, Britishvolt, and Xos Trucks, go from sourcing information to signing contracts all within one secure digital workspace.
The biggest challenge for DeepStream to date has been changing traditional and outdated procurement practices. Many companies tend to be conservative and stuck in their ways in their approach to procurement, so attracting them and building trust can be challenging. However, DeepStream has overcome this by showing that the RFx (Request For Anything) communication system is broken and that there’s another way to manage procurement.
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Employing a team of 15 people, DeepStream has raised $7 million since its launch and is currently experiencing 800% year-on-year customer growth. Though the company focuses on sectors such as cleantech, renewable energy, logistics, gigafactories, green steel, electric vehicles, and construction, DeepStream has shown to users that there is an easier and more efficient way to create and build an RFx system, reflecting not just the versatility of the platform, but also its suitability for everything within the fundamental concept of buying and selling.
As DeepStream moves into 2022, it plans to use its latest funding to assist in making the procurement world a more efficient and transparent place. The business is constantly looking to provide customers with new and innovative ways to procure and is gearing up to develop a number of DeepStream features in order to be the best product on the market solving B2B communication problems.
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