BRM has raised a total of $21.6 million in funding to date. The company closed a $15 million Series A round led by Caffeinated Capital and previously raised a $6 million seed round led by Base10. 

BRM is an AI-powered vendor management platform designed to automate the tedious and scattered process of managing company spending across different software tools and vendors.

At its core, BRM creates a unified "vendor identity" by connecting to all the places where vendor information lives—email, ERP systems like NetSuite, identity platforms like Okta, spend management platforms like Brex, and shared drives. This allows it to build a complete picture of every vendor relationship across a company.

When a company first sets up BRM, the system's "Contract Collector" scans through emails and shared drives to automatically find vendor contracts, extracting key information like renewal dates, pricing, and terms into structured data.

This eliminates the manual process of tracking contracts in spreadsheets—a task that typically consumes 51 minutes per contract or approximately four work weeks annually for a company managing 200 contracts.

The platform's AI "SuperAgents" then handle specific vendor management tasks: the Compliance SuperAgent automatically populates compliance questionnaires by searching both internal documents and public sources (like SOC 2 reports and privacy policies); the Renewal Agent sends alerts before contract deadlines and provides negotiation strategies; and the Pricing Agent analyzes spend to identify opportunities for consolidation or better terms.

Users can interact with BRM through its web interface or directly through Slack, asking questions like "When does our Figma contract renew?" or "Is this vendor GDPR compliant?" and receiving instant answers.

For finance teams at companies like Public, BRM saves about half a day per week by automating vendor lookup tasks. The platform also integrates with payment systems, allowing teams to issue vendor cards and process payments directly from approved purchase requests, creating an end-to-end solution from intake to payment.

BRM operates a unique consumption-based pricing model tied to the volume of vendors under management rather than using traditional SaaS per-seat licensing. The company charges up to $200 per vendor per year, reflecting its philosophy that customers should pay for the work being done rather than just for software access.

This approach differentiates BRM from both traditional procurement platforms with seat-based pricing and newer spend management tools that monetize primarily through interchange fees on transactions.

Unlike competitors Brex and Ramp who initially focused on free products monetized purely through interchange revenue, BRM deliberately charges for its software while positioning its value proposition as replacing human labor—a BRM customer can automate tasks that would otherwise require hiring a dedicated vendor management specialist at $60,000-100,000 annually.

This creates a clear ROI calculation: if BRM can't save at least $200 in time or cost savings per vendor, the company is "doing something wrong," according to CEO James McGillicuddy.

BRM's go-to-market motion centers on providing immediate value extraction through automation rather than requiring lengthy implementation periods typical of legacy procurement platforms.

The company's integration-first approach creates high switching costs once customers have connected BRM to their key systems (ERP, email, identity providers) and onboarded their vendor base. This positions BRM for land-and-expand opportunities where customers might start with specific vendor categories under management before expanding to their entire vendor ecosystem.

The company's core innovation—creating a canonical vendor identity across all enterprise systems—serves as the foundation for both current and future monetization opportunities, potentially allowing BRM to expand beyond its initial consumption-based model into transaction-based or savings-based pricing as the platform matures.

The procurement market has been historically dominated by "Big P" enterprise solutions like SAP Ariba (est. 1996), Coupa (acquired by Thoma Bravo for $8 billion in 2023), Oracle, and Workday Procurement. 

These platforms were designed for top-down, finance-controlled procurement processes, focusing on cost control, compliance, and centralized purchasing. 

Their primary advantage is deep integration with ERP systems and established relationships with large enterprises, but they typically require 9-12 months for implementation compared to BRM's 45-day timeframe. 

These legacy systems were built before the explosion of SaaS tools and struggle with the decentralized nature of modern procurement where individual employees make purchasing decisions outside finance-controlled workflows. 

While comprehensive, they're often described as inflexible, requiring extensive customization and training—Procol's CEO noted that traditional procurement solutions typically require "three to six months of training" versus more intuitive modern platforms.

A new wave of procurement-focused startups has emerged to address the limitations of legacy platforms, including Zip (raised $333M, valued at $2.2B), Oro Labs, LevelPath, and Omnea. 

These companies focus on streamlining procurement workflows with more modern interfaces and faster implementation times. Zip, for instance, specializes in intake-to-procure workflows, helping companies manage purchase requests and approvals. 

Unlike BRM's vendor-centric approach, these platforms typically remain document or workflow-centric. BRM's CEO notes they don't frequently compete directly with Zip, as BRM focuses on the holistic vendor relationship rather than just the purchasing workflow. 

The key differentiation is that while these platforms help companies buy things, BRM helps them understand and optimize what they've already bought by creating a canonical vendor identity across systems—a fundamental architectural difference that positions BRM as potentially complementary rather than directly competitive to intake-focused solutions.

Fintech platforms initially focused on corporate cards and expense management have expanded into procurement territory, creating a third competitive segment. 

Companies like Ramp ($648M revenue in 2024) and Brex ($319M revenue in 2023) started with interchange-driven business models offering free software monetized through card transactions, but have been adding procurement capabilities through acquisitions and product expansion. Tipalti, a business payments company, entered procurement by acquiring Approve.com in 2021. 

Unlike BRM's software-first, consumption-based pricing model, these platforms typically monetize through interchange fees and transaction revenue. They benefit from already having deep integration with company spending data but may lack BRM's focus on the complete vendor lifecycle and compliance workflows. The spend management platforms have also historically targeted SMBs rather than mid-market and enterprise customers, though they are increasingly moving upmarket with more robust features.

BRM's primary market expansion opportunity comes from addressing what CEO James McGillicuddy calls the "massive buying market that until the advent of AI was not addressable." 

Traditionally, companies managed vendor relationships through fragmented, manual processes across spreadsheets, emails, and shared drives. BRM estimates that organizations spend an average of 51 minutes per contract on manual collection, equivalent to 163 man-hours annually for a company managing 200 contracts. 

By automating these tasks, BRM can tap into a vast market of companies that previously couldn't justify dedicated procurement systems but can achieve compelling ROI through AI-driven automation. 

This brings enterprise-grade vendor management capabilities downmarket to smaller organizations like Santa Barbara Asset Management (a three-person company) while also serving larger enterprises with 7,000+ employees—a much broader addressable market than traditional procurement solutions that required significant scale to justify implementation.

BRM has significant opportunity to expand its product suite vertically across the procurement workflow. While initially focused on vendor relationship management and contract intelligence, 

BRM's platform architecture enables expansion into adjacent areas like guided purchasing, strategic sourcing, and advanced analytics. 

For example, BRM could integrate AI-driven negotiation capabilities to automate renewal conversations with vendors, potentially capturing a portion of the cost savings achieved.

The company could also expand deeper into compliance workflows, automating more of the vendor risk assessment process by leveraging its existing data foundation. 

Each vertical expansion increases BRM's value proposition and potential revenue per vendor, allowing the company to charge premium pricing for specialized workflows while maintaining its core consumption-based model.

BRM's unique advantage in collecting and structuring vendor data across its customer base creates opportunities for marketplace-based TAM expansion. As noted by CEO McGillicuddy, BRM is "building a really interesting dataset from the first journal entry in your ERP to really everything around who your customers are, who you are, what tools you have." 

This data foundation could enable BRM to create a "market clearing" function that connects buyers with relevant vendors based on their profile and needs—potentially monetizing through transaction fees or lead generation. BRM could tell sellers, "This person is looking for a CRM. They're squarely in your ICP. We know that because we're now connected to your systems. Do you want an introduction to them?" 

This marketplace opportunity represents a significant TAM expansion beyond BRM's current vendor management SaaS offering, potentially inserting the company into the $42.9 billion that top SaaS companies currently spend on sales and marketing (approximately 42% of customer lifetime value).

AI dependency limitations: BRM's core value proposition relies heavily on AI "SuperAgents" accurately extracting, analyzing, and actioning vendor-related data across disparate systems—creating significant technical risk if these agents fail to perform as promised. While BRM employs a "human-computer symbiosis" with humans confirming agent-generated insights, the company must maintain high accuracy rates when handling sensitive contract terms, compliance data, and renewal notifications to avoid eroding trust with customers who are entrusting critical business operations to automation.

Competitive convergence pressure: The procurement software space is experiencing rapid convergence as legacy players like SAP and ServiceNow prioritize modernization, newer procurement platforms like Zip expand their capabilities, and spend management companies like Ramp and Brex move into procurement. BRM's vendor-centric approach provides differentiation today, but the company risks being squeezed between well-funded competitors approaching the market from different angles with substantially more resources—like Zip's recent $190 million Series D or Ramp's $648 million in annual revenue—potentially forcing BRM to accelerate its roadmap beyond sustainable growth rates or accept diminished margins through competitive pricing pressure.