After $3.5 Million Funding Round, Procure IT Eyes Digital Marketing
Procure IT is poised to market its services in a manner unfamiliar to most agencies, according to its managing partner.
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Procure IT has announced a $3.5 million seed round featuring two private investors who will advise the company on its digital marketing strategy.
Paul Filsinger
The Texas-based technology advisor, which is building a platform to assist businesses with procuring and managing different IT vendors, has now raised $4.8 million. Paul Filsinger and Giancarlo Maniaci, who are fellow members of the YPO executive group with Procure IT managing partner Randy Jeter, took part in the round. They will serve as advisors to Procure IT going forward.
Giancarlo Maniaci
Procure IT went public a little more than a month ago, announcing a four-agent merger. The company is seeking a sale to private equity in the next year or two. Part of their pitch is a platform that uses API integrations to help IT buyers evaluate vendor spend and risk. Moreover, Jeter told Channel Futures that the platform will also give emerging vendors an opportunity to get closer to the end user. He said Procure IT intends to bolster its digital marketing approach in order to strengthen that connection, and Filsinger and Maniaci will use their marketing expertise to advise.
“They’re basically strengthening their investment through advising us and putting time and effort into it,” Jeter told Channel Futures.
Maniaci said he’s excited to use new digital marketing platforms and techniques to promote Procure IT and its portfolio.
“Procure IT hits the sweet spot for me — using technology to disrupt traditional ways of doing things and creating incredible value for business customers,” said Maniaci. “I’m excited to back its mission of transforming IT procurement and management. ”
In addition, ChannelCrowd fractional chief marketing officer Brian Leonard will work with Procure IT on the digital marketing front. Leonard once served as vice president of marketing for RapidScale alongside many of Procure IT’s co-founders.
ChannelCrowd’s Brian Leonard
Backgrounds
Maniaci and Filsinger have been working the entrepreneurship and investment for decades.
Maniaci, for example, has founded advertising companies eJam and TapIt, as well as a hosted PBX platform company. He participates in seed funding for “technology and digital media startups,” Procure IT said.
Jeter’s relationship with Maniaci goes back to before he founded the managed cloud services provider RapidScale in 2008. Jeter at the time was running agency Premiere Worldwide and consulted with Maniaci. They remained close after Jeter went to RapidScale.
Filsinger founded marketing management company Qool Media that became part of marketing acquisition platform System1. He has worked as an angel investor for companies, including generative AI startup MadisonAve.ai. Jeter said Filsinger knows how to build a digital platform.
“Paul comes out of an IT background where he grew up leading IT and also being a buyer of IT,” Jeter said.
Filsinger said funding Procure IT fits with System1’s investments in cloud-based technologies.
“Procure IT helps companies better manage their technology investments by monitoring and analyzing it to realize and optimize its value. As an entrepreneur, founder and former public company CEO, I know that’s a brilliant idea that’s long overdue. Ironically, advancements in technology finally make it possible to achieve. I’m all in on helping Procure IT to get this into the hands of business owners and IT leaders everywhere,” he said.
Digital Marketing and the Channel
Jeter said he and Maniaci conducted an analysis of how …