Recently we surveyed our community asking what type of content you want to learn about and the top response was news from the local startup community. That’s why we’re excited to begin sharing more happenings from in and around Detroit, starting with a new funding announcement from Madison Heights-based startup, Xeeva.
The company, which provides intelligent procurement and sourcing software (with the help of their patented artificial intelligence), announced yesterday that they raised an investment of more than $40 million led by PeakEquity Partners.
According to CEO and founder, Dilip Dubey, the investment will enable the company to accelerate their growth in the e-procurement market, specifically by enhancing their product suite, increasing sales and marketing efforts, and elevating the Xeeva brand to new levels.
What impressed us even more than the huge amount of funding Xeeva raised is founder, Dilip Dubey. The company’s energetic leader is a subject matter expert in using exponential technologies like Artificial Intelligence, Machine Learning, Blockchain, Drones, and Cloud to improve businesses and communities.
In addition to winning various awards, he has multiple patented and patent-pending inventions in this field. Prior to founding Xeeva, he co-founded NetLink, a provider of information technology and cloud based business solutions, which grew into a $100+ million company. To learn more, check out their official announcement.