Suplari co-founders Jeff Gerber, Brian White and Nikesh Parekh. (Suplari photo)
Microsoft has acquired Suplari, a Seattle-based startup that uses artificial intelligence to help companies understand and manage their spending.
Suplari was founded in 2016 and analyzes procurement and expenditure data that flow into various company systems. It can provide recommendations for cost savings, risks, and other efficiency gaps. The software serves as an alternative to compiling data in an app such as Excel or Tableau and allowing a team of analysts to comb through it themselves.
Microsoft announced that it will couple Suplari with Microsoft Dynamics 365 “to help customers maximize financial transparency by using AI to automate the analysis of current data and historical patterns from multiple data sources.”
“Today’s announcement also signals our ongoing commitment to enable companies to move beyond transactional financial management to proactive processes that improve decision-making, mitigate risk and lower supplier costs through our data-first approach,” wrote Microsoft Vice President Frank Weigel in a blog post.
The terms of the deal were not disclosed.
Suplari is one of a bevy of startups using AI and machine learning to automate manual processes with tons of data and make recommendations based on computerized number crunching. There are several companies in Seattle using similar technologies in different industries, such as Attunely, Lexion, Sigma IQ, and others.
Suplari had raised $ 18 million to date, according to PitchBook. Investors include Amplify Partners, Madrona Venture Group, Shasta Ventures, Two Sigma Ventures, and Workday Ventures.
The company was co-founded by Jeff Gerber, Brian White and Nikesh Parekh, CEO of Suplari.
Parekh is a real estate technology veteran who previously held executive positions at Market Leader and Trulia. Gerber is a longtime engineering leader who co-founded startups like iConclude (acquired by Opsware and later acquired by HP) and helped lead Apptio for machine learning and intelligent app development. White previously worked with Gerber at iConclude and worked for Amazon Web Services and Skytap.
The deal is the latest in a series of IPOs, financings, and acquisitions across the Seattle startup ecosystem. DataRobot acquired the Seattle startup Algorithmia earlier this week.