London-based startup Stotles raises €11.5 million in Series A funding round to expand into the US market and enhance its platform.
Stotles is a platform helping private sector suppliers grow their revenue in the public sector by providing tools to track tenders, win bids, and navigate the complexities of selling to the public sector.
Stotles' AI technology analyzes government data to size suppliers' markets, generate drafts of bids, and qualify opportunities, aiming to save time and enhance decision-making.
The funding round was led by Headline and Acton, with participation from Form Ventures and Seedcamp, following Stotles' rapid growth, increase in customer base, and development of AI-powered platform.