# Procol

> Procol is an AI-powered procurement platform that automates the full source-to-pay lifecycle - intake, strategic sourcing, eAuctions, supplier management, and spend analytics - for enterprise procurement and finance teams. Founded in 2018 by Gaurav Baheti and Sumit Mendiratta, the company pairs autonomous AI agents with white-glove service to help large enterprises cut procurement cycle times and unlock cost savings. Procol says it serves 200+ enterprises managing over $20B in spend, including IKEA, Hershey's, Havells, Emami, and the Tata Group.

- **Founded:** 2018
- **Headquarters:** Gurugram, India (with a US office in New York, NY)
- **Founders:** Gaurav Baheti (Founder & CEO), Sumit Mendiratta (Co-Founder)
- **Team size:** ~120-125 employees ('Procolians')
- **Products:** AI Agents (Intake, Autonomous Sourcing, Supplier Ops, Spend Analytics, Invoice Resolution), eAuction Pro, Source to Pay / Procure to Pay, Strategic Sourcing, Supplier Management & Vendor Portal
- **Notable:** Recognized in the Gartner Hype Cycle for Procurement & Sourcing Solutions, 2026, for Multi-Agent Systems / agentic AI capabilities, Grew to 200+ enterprise customers managing $20B+ in procurement spend, Built a supplier network of 25,000+ and reportedly managed Rs 7,500 crore+ of procurement spend

## Products & services

- **AI Agents (Intake, Autonomous Sourcing, Supplier Ops, Spend Analytics, Invoice Resolution)** — Purpose-built agents that automate procurement workflows from purchase request to purchase order and invoice reconciliation.
- **eAuction Pro** — AI-powered eRFX and reverse-auction module that launches RFXs in minutes, converts quotes into live auctions with one click, and detects fraudulent bids. Offers 45+ auction strategies.
- **Source to Pay / Procure to Pay** — Unified platform automating the entire procurement lifecycle - intake, sourcing, contracts, payments, vendor management, and spend analytics.
- **Strategic Sourcing** — Tools for RFQ management, negotiations, supplier discovery, and cost optimization across sourcing events.
- **Supplier Management & Vendor Portal** — Vendor onboarding, compliance tracking, performance scorecards, and an interactive supplier portal.
- **Procurement Orchestration & Spend Analytics** — Real-time, AI-powered dashboards built for CPOs to track spend, savings, cycle times, and team performance.

## Achievements

- Recognized in the Gartner Hype Cycle for Procurement & Sourcing Solutions, 2026, for Multi-Agent Systems / agentic AI capabilities
- Grew to 200+ enterprise customers managing $20B+ in procurement spend
- Built a supplier network of 25,000+ and reportedly managed Rs 7,500 crore+ of procurement spend
- Both founders named to Forbes Asia 30 Under 30
- Named among top procurement and agentic AI software by G2 and Everest Group

## Latest updates

- **2026-01** — Named in the Gartner Hype Cycle for Procurement & Sourcing Solutions, 2026, under Multi-Agent Systems for Procurement.
- **2025-12** — Expanded its AI agent suite - Intake, Autonomous Sourcing, Supplier Ops, Spend Analytics, and Invoice Resolution agents.
- **2025-01** — Deepened international footprint, citing 200+ enterprises and $20B+ in managed spend including IKEA and Hershey's.

## Links

- Website: https://www.procol.ai/
- LinkedIn: https://www.linkedin.com/company/procolai/
- Twitter/X: https://x.com/Procol_
- YouTube: https://www.youtube.com/@procol_
- Instagram: https://www.instagram.com/procolhq/
- Facebook: https://facebook.com/procoltech/

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Profile page: https://yespress.io/procol
Published by YesPress — https://yespress.io
Last updated: 2026-07-18