Justin Smith, left, and Zach Moore, who work from Betamore in Federal Hill.
This fall has been good to Procurely, the months-old startup founded by Justin Smith, who’s intent on “disrupting” the request-for-proposal process: the company raised an angel round of funding, hired its first employee and emerged from beta to its full release in early December.
As Technically Baltimore reported in July, Procurely’s approach is to take content (mainly words) from different sources (for instance, a Microsoft Word document) and put it into a standardized repository that can be shared among office workers, thereby cutting down on the time it takes people to produce documents (like requests for proposal).
But with the transition to a full release came a new selling angle for Smith: of Procurely’s paying customers, he said, some are marketing departments or human resources companies who use the content library function of Procurely to reduce the time it takes staffers to put together press releases and offer letters, respectively.
“Customers are finding creative ways to use [Procurely] outside of just RFPs … but it doesn’t change the core of the technology,” Smith said.
Procurely has three pricing tiers: a “starter package” for $99 a month, a package for mid-size businesses that goes for $299 a month and a package for large, enterprise companies, which is priced according to a contract rate. Smith said that while he isn’t releasing Procurely’s customer numbers just yet — he did say that many beta customers signed up for the full release — most of his customers have purchased the middle package, and those customers each bring in roughly $3,000 a year in revenue.
Smith’s company is still backed by venture funding, which has allowed him to make a first hire.
Watch Justin Smith present at September’s Baltimore TechBreakfast:
Now working with Smith is Zach Moore of Pasadena, Md., who graduated from UMBC in 2006 with a degree in computer science. Moore, whom Smith has known since college, heads up the development of the Procurely software, and Smith said both he and Moore are taking the next several weeks to design a “more generalized product.”
What does that mean? Simply making sure customers are aware that they can use Procurely outside of putting together requests for proposal.-30-