Total amount raised
$26 Million
Latest funding date
03/01/2022
Location
Pavilion has successfully navigated four funding rounds, attracting investment from ten different investors, including notable names like Forerunner and Neo. The platform is designed to simplify government purchasing processes, offering features such as vendor search, compliance assurance, and streamlined connections with qualified vendors.
Keep reading to explore the intricacies of Pavilion's fundraising journey and the investors backing this innovative platform.
What Is Pavilion?
Pavilion is an IT company based in San Francisco, California, specializing in government procurement and purchasing solutions. The platform is designed to help public agencies streamline their purchasing processes, ensuring compliance and efficiency.
With a team of 11-50 employees, Pavilion offers features like vendor search, guided workflows, and smart intake tools. The company operates within multiple industry categories, including government, information services, information technology, marketplace, and procurement.
How Much Funding Has Pavilion Raised?
- Pre-Seed Round
- Amount Raised: USD 100,000
- Date: July 2018
- Lead Investors: Forum Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Pavilion's platform and initial market entry.
- Seed Round
- Amount Raised: USD 1,500,000
- Date: May 2019
- Lead Investors: Leadout Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build a marketplace for shareable contracts and optimize public procurement.
- Seed Round
- Amount Raised: USD 2,400,000
- Date: May 2020
- Lead Investors: Neo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market penetration.
- Series A Round
- Amount Raised: USD 22,000,000
- Date: March 2022
- Lead Investors: Forerunner
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features for broader adoption.
Total Amount Raised: USD 26,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Forerunner
- Details: Forerunner is a venture capital firm that led Pavilion's Series A funding round. They are known for their focus on early-stage investments in consumer and enterprise technology companies.
- Investment Focus Areas: Consumer technology, enterprise technology, early-stage investments
- Notable Investments: Warby Parker, Glossier, Dollar Shave Club
- Neo
- Details: Neo is a venture capital firm that participated in Pavilion's seed funding rounds. They focus on early-stage investments, particularly in technology startups.
- Investment Focus Areas: Technology startups, early-stage investments, innovation
- Notable Investments: Figma, Notion, Loom
- Leadout Capital
- Details: Leadout Capital led Pavilion's seed funding round in 2019. They focus on early-stage investments in companies that aim to solve significant problems and have the potential for large-scale impact.
- Investment Focus Areas: Early-stage investments, technology, innovation
- Notable Investments: Not publicly disclosed
- Forum Ventures
- Details: Forum Ventures participated in Pavilion's pre-seed funding round. They focus on early-stage investments, particularly in technology and innovation sectors.
- Investment Focus Areas: Early-stage investments, technology, innovation
- Notable Investments: Not publicly disclosed
What's Next for Pavilion?
Pavilion stands at the cusp of a significant opportunity to revolutionize public procurement. By creating a marketplace for shareable contracts, the company aims to address the $300 billion wasted annually on inefficient local government purchasing. Currently piloted in Kansas City, MO, and Portland, OR, the platform has the potential to expand to other metro areas, increasing the number of contracts and suppliers available.
As Pavilion scales, future fundraising rounds seem likely, given the initial success and the vast market opportunity. However, challenges such as convincing more local governments to adopt the platform and ensuring legal compliance of shared contracts remain. Overcoming these hurdles will be crucial for Pavilion's continued growth and success.
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