Force Over Mass Capital backs Brooklyn Vendor Assurance in £1.8m Seed Round
Force Over Mass Capital has invested in Brooklyn Vendor Assurance in a £1.8m Seed round led by Blackfinch Ventures.
Brooklyn Vendor Assurance is the first Enterprise SaaS software platform purpose-built for vendor managers to maximise business value across their 3rd Party Supplier ecosystem. In 2020, our solutions won placement in the Digital Top 50 (per Google, McKinsey & Co., Freshfields, others) and became CIO Magazine 2020 Vendor Management Platform of the Year.
FomCap is a top-tier London venture capital firm focussing on early stage technology companies across the UK and Europe. FomCap invests across Fintech, Artificial Intelligence, SaaS, and Industry 4.0.
Commenting on this investment Lucas Stoops, investment manager at FomCap, said: “We at FomCap have long recognized the potential for digitization and disruption across the Enterprise Procurement space. Brooklyn’s value proposition, their Enterprise SaaS founder-through-IPO experience, and their early market traction made for an attractive addition to the FomCap portfolio. We look forward to a great working relationship with the Brooklyn team.”
Commenting on the investment Jesse Lee, CEO and co-founder of Brooklyn Vendor Assurance, said: “We are delighted to have joined the Force Over Mass portfolio, and we look forward to working with the FomCap team of Procurement domain experts. Our Enterprise Vendor Management platform helps global enterprises govern their supplier contracts and relationships across many areas including performance, risk, compliance, and sustainability. FomCap has identified the procurement domain as ripe for digital disruption, and with a similar go-to-market philosophy and perspective, Brooklyn and FomCap make for a perfect fit.“
Brooklyn’s value proposition, their Enterprise SaaS founder-through-IPO experience, and their early market traction made for an attractive addition to the FomCap portfolio. We look forward to a great working relationship with the Brooklyn team.
About Force Over Mass Capital
Force Over Mass Capital is an FCA regulated venture capital firm focused on early stage technology investments across the UK and Europe. It invests in B2B innovation across four verticals: Fintech, Artificial Intelligence, SaaS and Industry 4.0. Force Over Mass operates both seed and scale-up funds to support early stage businesses through their growth journey.