Procure IT Raises $4.8 Million in Initial Funding for Game-changing IT Procurement Platform

CARROLLTON, Texas,June 13, 2023–ProcureIT, a game-changing data-driven IT procurement and management company,announced today that it raised $3.5 million in a new round of funding, bringingthe total initial funding to $4.8 million. The company promises to combine people, processes andsoftware to create an industry-first platform for IT procurement, spend,performance and risk management.

The latest funding round includes investmentsfrom two proven digital marketing and technology leaders Paul Filsinger and GiancarloManiaci, who also will serve as advisors to Procure IT's leadership team.

"We're thrilled to welcome PaulFilsinger and Giancarlo Maniaci as Procure IT investors and advisors,"said Randy Jeter, Procure IT Managing Partner and former CEO of RapidScale."Both leaders are highly experienced at building and growing forward-lookingtechnology-powered companies by leveraging innovative product strategy and thelatest advances in data-driven digital marketing. Their investments validateour vision to transform how IT is sourced and managed; their active guidancewill help us achieve it."

Procure IT's managing partners, along withcurrent and future investors, plan to raise additional capital before seekingprivate equity funding in 12-24 months, Jeter added.

About Procure IT's Investor-Advisors

Filsinger is a technology leader with 30years of experience in software, IT, media and digital advertising. Over threedecades, he has been an entrepreneur/owner/founder and President of System1, a$1 billion public company. Filsinger sold his business to System1 and thenspent more than five years scaling teams, revenue and profitability,culminating in a public offering on NYSE (SST). As president, he wasresponsible for digital brands, including MapQuest, StartPage, HowStuffWorks,Answers.com, CouponFollow, Info.com, Infospace, WebCrawler, Dogpile and more.

Following a long career as a businessbuilder, Filsinger has become an angel investor in companies aligned with histechnology interests. Recent investments include MadisonAve.ai, a startup usinggenerative AI to create advertising.

Filsinger's investment in Procure IT isgrounded in his experience building technology-enabled companies.

"At System 1, for example, we made hugeinvestments in cloud-based technologies," said Filsinger. "Procure IThelps companies better manage their technology investments by monitoring andanalyzing it to realize and optimize its value. As an entrepreneur, founder andformer public company CEO, I know that's a brilliant idea that's long overdue.Ironically, advancements in technology finally make it possible to achieve. I'mall in on helping Procure IT to get this into the hands of business owners andIT leaders everywhere."

Maniaci is a serial entrepreneur and one ofthe world's foremost experts in digital product marketing. Presently, he is CEOof eJam Inc., a performance-based online advertising and marketing company.Maniaci was the CEO and co-founder of TapIt!, a mobile advertising platform thatsold to Phunware for $23 million in 2013. Earlier in his career, he wasManaging Partner for iDials, a hosted PBX, predictive and autodialing platformthat was sold in 2010.

The entrepreneur actively provides seedinvestment and incubation to technology and digital media startups. Among his presentand past investments are Estimote, creators of the SpaceTimeOS for smartworkplace applications, and PayDivvy, the first and only social bill-payingplatform.

Maniaci's investment in Procure IT willleverage his interests and experience in technology and digital media.

"Procure IT hits the sweet spot for me –using technology to disrupt traditional ways of doing things and creatingincredible value for business customers," said Maniaci. "I'm excitedto back its mission of transforming IT procurement and management. And I'm eagerto help tell the Procure IT story using the latest digital marketing platformsand techniques to ensure every business hears about a better way to source andmanage their critical technology investments."

MoreInformation

To learn more about leveraging the Procure ITplatform to simplify and optimize your company's IT environment, visit www.procureit.com. To speak to aProcure IT sourcing expert, visit  www.procureit.com/contact or contactus@procureit.com.

Suppliers interested in becoming part of theProcure IT platform can connect with the supplier management team by emailing suppliers@procureit.com.

AboutProcure IT

ProcureIT, the data-driven IT procurement and management company, simplifies IT sourcingand expense, performance and risk management for businesses of all sizes – fromsmall and medium businesses (SMBs) to global enterprises. Procure IT leveragesdecades of expertise in technology sourcing, relationships with more than 350 ITsuppliers, proven processes and a proprietary CX software platform to help businessclients save time and money while ensuring they have the technology they needto succeed in a competitive marketplace. Procure IT advises more than 3,000businesses nationwide, speeding sourcing by 5X and reducing spending by 25percent. For more information, visit www.procureit.com or engage with us on LinkedIn.

MediaContact

KhaliHenderson

BuzzTheory(for Procure IT)

480.848.6726

khenderson@buzztheory.com

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