On January 26, 2021, it was announced that Tealbook completed its US$14.4 million Series A financing led by RTP Global. The startup, which has experienced significant growth in demand for its data products due to COVID-19, plans to use the new capital to invest in product development, data engineering, marketing and sales.
Founded in 2015, Tealbook has two main cloud-based products: its supplier data foundation, which integrates with companies’ existing procurement software and technology stack, and its supplier data intelligence platform, which allows users to evaluate a global network of suppliers. Tealbook’s procurement intelligence platform aims to improve supply chain data with machine learning and artificial intelligence, giving buyers access to increased supplier information to help them make more informed decisions.
Osler, Hoskin & Harcourt LLP advised Tealbook with a team consisting of Chad Bayne, Michael Grantmyre, Alana McElhinney and Shalu Atwal (Emerging and High Growth Companies).