Contingent

Contingent is a supplier insight and third-party risk management platform that enhances procurement processes for businesses, ensuring reduced operational risks and improved compliance across various industries. Founded in 2019, Contingent operates from London, UK. The company provides a specialized platform for managing supplier risk and third-party relationships. In December 2021, Contingent raised GBP 6.

00 million in a venture funding round led by Octopus Investments. The firm has engaged in two investment deals, with the latest round increasing its total raised funds to GBP 6. 00 million and its current valuation to GBP 33. 879 million.

The company was co-founded by Lorinc Vass and Tai Alegbe, who also serves as CEO. Contingent offers a comprehensive Supplier Insight and Third-Party Risk platform designed to streamline procurement processes for businesses of various sizes and regulatory environments. The platform aims to reduce risks and operational friction associated with managing third-party relationships by providing tailored solutions that cater to differing levels of sophistication in risk management. Key functionalities include real-time monitoring of suppliers, due diligence assessments, ongoing compliance tracking, and operational resilience insights, all consolidated into one platform.

The end users of these services include procurement and supply chain teams across industries such as construction, automotive, financial services, life sciences, and government, among others. Contingent's solutions are marketed to clients primarily in North America and Europe, addressing the needs of both regulated mid-sized businesses and unregulated small to medium enterprises, as well as large enterprises seeking a holistic view of vendor risk. Contingent generates revenue through subscription-based models for its Supplier Insight platform, enabling clients to access various tiers of service based on their needs. Clients typically enter into direct partnerships that allow ongoing access to the platform’s features, including supplier monitoring and risk assessment.

Although specific pricing plans are not disclosed, the services are tailored to meet the requirements of both small businesses and large enterprises. Clients benefit from a streamlined onboarding process and continuous updates, ensuring they maintain a proactive stance on supplier risks while fostering long-term relationships with the firm. Following the GBP 6. 00 million funding raised in December 2021, Contingent plans to develop a suite of SaaS applications and expand internationally.

The company aims to enter new markets, focusing on specific regions that will be defined in its strategic roadmap. The recent funding will support these initiatives, enabling the enhancement of product offerings and the pursuit of expansion into new geographic territories.