DeepStream Technologies Limited

DeepStream Technologies Limited is a London-based company specializing in e-sourcing procurement software that enhances the procurement process for organizations of all sizes, emphasizing efficiency and cost reduction. Founded in 2016, DeepStream Technologies Limited develops software solutions for procurement management. The company is headquartered in London, UK. Jack Macfarlane is both the CEO and founder, having established the firm to address modern procurement challenges.

In October 2021, the company raised GBP 5 million in SERIES A funding led by Beringea Private Equity, with additional investments from Seed X Liechtenstein AG, Conviction Investment Partners Limited, and Portfolio Ventures. This funding round was the culmination of their fundraising efforts, bringing the total amount raised to GBP 5 million, with a current company valuation of GBP 20. 203 million. DeepStream offers a comprehensive suite of e-sourcing procurement software designed to streamline and enhance the procurement process for organizations of varying sizes.

Their products include a robust RFx management system for Requests for Proposals (RFPs), Requests for Quotations (RFQs), and Requests for Information (RFIs). Additional tools for eAuctions, Contract Management, Supplier Discovery, and Reporting and Analytics support procurement teams in saving time and reducing costs. Their client base spans small businesses to large enterprises across North America, Europe, and Asia-Pacific. DeepStream operates on a subscription-based revenue model with various pricing plans, including RFx Basic and RFx Advanced, tailored to meet the needs of different client segments.

Clients typically engage with annual subscriptions to access the platform's features, enhancing their procurement processes. While specific revenue figures are not disclosed, the pricing strategy focuses on delivering cost savings and improving procurement efficiency through data-backed decision-making. DeepStream plans to utilize the GBP 5 million raised in SERIES A funding to double its workforce and further develop its AI applications. The company is also focusing on expanding into new geographic regions to enhance its market presence.

Specific plans for product development include new features aimed at improving procurement efficiency, with anticipated releases that align with their workforce expansion efforts.