FedBid, Inc.

FedBid, Inc. is a government procurement platform that enhances the acquisition process for federal buyers and suppliers through innovative technology, enabling streamlined bidding and compliance with regulatory standards. FedBid, Inc. focuses on providing a digital marketplace for government procurement.

The company is headquartered in Vienna, US. It raised USD 2. 00 mn in a Series A funding round led by Blue Water Capital on January 17, 2012, marking a significant milestone in its financing history. The company has completed a total of 3 deals to date.

Unison Marketplace offers a comprehensive suite of government procurement software solutions designed to streamline the acquisition lifecycle for federal acquisition professionals. The platform facilitates the management of grants, contracts, and subcontracts through a fully integrated digital environment, enhancing workflows and ensuring compliance with federal regulations. It provides tools for producing defendable cost estimates, automating price negotiations, and supervising vendor engagement, effectively addressing the complexities of government sourcing. The primary client base consists of federal program managers and contractors, primarily within the United States, but also extends to governments and contractors worldwide.

The platform incorporates advanced features such as dynamic bidding capabilities, business intelligence dashboards, and a simplified RFx process aimed at improving operational efficiency in procurement activities. Unison Marketplace generates revenue primarily through its subscription-based model, which provides clients access to its procurement platform and associated tools. This model allows federal agencies and contractors to utilize the software for sourcing goods and services, including participation in competitive bidding processes. Customers engage with the platform through various pricing plans tailored to their specific needs, which may encompass features like dedicated account management and support services.

Revenue also stems from the volume of transactions processed within the marketplace, where over 94% of awards are directed to small businesses each year. By leveraging its full-service online platform, Unison Marketplace facilitates transactions between federal entities and contractors, enhancing efficiency and compliance in government procurement while driving consistent usage among its client base. As of January 2012, FedBid, Inc. plans to utilize its recent funding from Revolution Growth to enhance its platform capabilities and expand its market reach.

The company is developing new software features aimed at improving user experience and operational efficiency. Additionally, there are intentions to expand into international markets, with a focus on partnering with foreign governments and contractors to facilitate global procurement. The company aims to implement these strategies in the upcoming years to solidify its presence in the procurement technology landscape.