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ProcurePoint

480 Gate Five Road #115
Sausalito, CA 94965
USA
(415)-887-9100
Website Company Summary Management Team
Team

Management: Caitlin Kurtz (VP Finance);  Patricia Keaney (CTO);  Joe Garvey (VP Sales);  Mark Handron (VP Sales);  Chris Kane (VP Marketing);  Brian Langer (VP Sales);  Elizabeth A McKenna (VP Sales & Marketing);  Barrett Blank (Director of Sales)
Outside board: Patrick Foley (DHL CEO);  Bill Kimpton (Kimpton Hotels);  Kapil Nanda (Infogain CEO) Scott Smith (Sabre Bus Travel);  Donald T Valentine (Sequoia Capital)
Company

Business description: ProcurePoint is the leader in online sourcing of corporate hotel lodging associated with offsite meetings and transient travel. The company's unique combination of online, process automation tools integrated with their proprietary OpenBid™ reverse auction platform and comprehensive reporting capabilities streamline labor intensive, manual planning processes while enabling open negotiation between corporate travel managers, meeting planners and hoteliers, creating a transparent, efficient marketplace. ProcurePoint provides corporations measurable cost and time savings while delivering new business opportunities to hoteliers. Founded in 1998 and formerly known as EventSource, the company has managed more than two million room nights in more than 500 cities worldwide. Using ProcurePoint Enterprise Transient™ and ProcurePoint Enterprise Meetings™ sourcing solutions, companies report that they compress their planning and negotiation cycles from weeks to days, while experiencing average savings of 10-35 percent in costs of lodging associated with offsite meetings and transient travel.
Customers include: Bank of AmericaBaxter HealthcareCharles SchwabCisco SystemsEli LillyHPLucent TechnologiesMetLifeMicrosoftNetAppNewell RubbermaidNextel CommunicationsOraclePeopleSoftPrudential FinancialSony Pictures EntertainmentVerizonWells Fargo Bank;  Blue Shield;  Fireman's Fund;  Morgan Stanley Dean Witter;  Raymond James;  Roche Biosciences;  Travelers Insurance;  Volkswagon
Partners include: Branders.comExtensity;  beFree;  Event411;  Hickory Travel Systems;  Hyatt;  Passkey.com;  Sabre Holdings;  WorldTravel BTI
Capital

Rounds: 3
Recent fundings: Aug 2003
Capital raised: 26.5M
Last Round: 4.0M
Ownership: Private  
Corporate investors: Needham Asset ManagementYahoo!

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Overview
Record updated: Nov 2003
Sector: Internet
Year Founded: 1998
Rounds: 3
Recent fundings: Aug 2003
Capital raised: 26.5M
Last Round: 4.0M
Ownership: Private