Halifax-based SupplyStream has recieved $250,000 in funding from Innovacorp. The company is reportedly building a technology management system specifically for manufacturers, distributors and retailers so they can easily access industry data more efficiently. To-date, SupplyStream has raised over $1 million.
The company was founded in 2011 and has signed up over 2,000 users in its first beta testing. SupplyStream notes that its technology “provides a comprehensive online database for resellers who buy wholesale to research products, create proposals and submit purchase orders within their industry.” The early stage investment will assist SupplyStream to further develop its product and also expand into new markets.
“We’re the first to automate the process of aggregating product and supplier information from multiple wholesale sources into a single, online database,” said SupplyStream CEO Kirk Chisholm. “We’re helping to convert aging wholesale industries from paper catalogues to the web. Our platform is the catalyst manufacturers need to make this massive change.”