Procur | About to Affect Trade Markets in A BIG Way

Procur is a tech and analytics company in the wholesale product space. They are in the midst of rolling out a platform to meet the needs of suppliers and buyers who are selling and sourcing goods. This platform “connects international sourcing partners, while reducing market noise and increasing transaction frequency.” Procur is unique because it crosses multiple product verticals and focuses on consumer durables/consumables that are typically “finished” and branded. They released their Early Access phase last week and will be launching their full platform this fall!

 

We recently caught up with Founder/CEO Chadd Evans to get the inside scoop.

Year/Date Founded:
August 2013

Number of Employees:
16

Founders/Execs :
2

Funding or bootstrapped?
Self funded and Convertible Notes.

How’d You Get The Idea For It:
I’ve been interested in wholesale product trade for a long time and specifically the logistics and challenges of moving a physical good.  There are frictions that naturally occur when there is physicality; including the geopolitics of international trade, complications of delivery process, and scarcity of “shelf space.”  This is all very intriguing to me and we identified a void in the market for our product that was aching for a new offering.

Who are your customers and what do they get?
Small and medium sized wholesale product suppliers – most often branded products (and the buyers they want to get accounts with).

Who are your competitors and how do you stand out?
Alibaba.com and Ariba.com are indirectly competitive with us. Our typical supplier profile is a branded product company that could be categorized as a small or medium size business, which is unique.

Revenue Model?
In the early stages we will be utilizing a subscription-based membership model in which suppliers pay for monthly access to our managed service platform.

How does ATL weave into your story?
Atlanta has a history of building successful companies in the B2B product space.  Also, there is a lot of human capital that surrounds data and logistics that we can draw upon – not to mention the benefit of having Georgia Tech as a feeder.

Do you use any tools & services to manage your day-to-day?
Slack for inter-office communications, Basecamp for general office project management, InVision for mockups, and Jira for project tracking.

How do you stay informed & on top of emerging trends?
Our team is great and is always on top of what’s going on in our space. Specifically, our Press & Media Manager stays dialed in to what’s happening.

If you could have one mulligan (do-over) in the process of launching and running this startup what would it be?
Hire good talent earlier.

Is there anything you need (that money can’t buy)?
Enthusiasm. The ability to develop a team and culture that is cohesively focused on a single goal is the most valuable asset we have.

[Photo Credit: Screen shot of site]