Brooklyn Vendor Assurance

Brooklyn Vendor Assurance, established in 2018, offers a specialized SaaS platform focused on automating and improving post-contract vendor and supplier management. The company was founded in London, United Kingdom, by Jesse Lee, Nick Francis, and Colin Woodford. The founding team possesses deep expertise in enterprise technology and financial services; CEO Jesse Lee was a co-founder of Apptio, which was acquired for $1.9B, while COO Colin Woodford and CPO Nick Francis have extensive experience with major financial institutions like Barclays, HSBC, and UBS. This background provides them with a profound understanding of the complexities of IT cost optimization and supplier management in regulated environments.

The firm targets enterprise clients, particularly in regulated industries like financial services, that grapple with significant value leakage and risk in their post-contract management processes. Its business model is based on a SaaS subscription, providing clients with its proprietary "VendorOps" platform. This platform digitizes the entire vendor management lifecycle, from onboarding to performance tracking, enabling businesses to move from static, document-based governance to a more dynamic, automated system. By doing so, Brooklyn helps clients enhance resource efficiency, mitigate regulatory and operational risks, and strengthen supplier relationships.

The core of the offering is an AI-powered platform that extracts contractual obligations and governance policies, converting them into automated workflows and strategic tasks. Key modules include Contract Lifecycle Management, Third-Party Risk Management (TPRM), Relationship Management, and Governance, Risk & Compliance (GRC). Specific features encompass AI-driven metadata extraction, automated obligation tracking, digital risk assessments, and performance scorecards. These capabilities allow organizations to gain real-time visibility into supplier performance, ensure compliance, and identify opportunities for cost savings and value creation, with reported client ROI of up to 10x in the first year. The company has secured $2.2M in a seed funding round led by Blackfinch Ventures and Force Over Mass.

Keywords: vendor management, supplier relationship management, contract lifecycle management, third-party risk management, VendorOps, procurement technology, SaaS, regulatory compliance, supply chain automation, financial services procurement, contract governance, post-contract management, risk mitigation, supplier performance, spend management, commercial value management, obligation tracking, AI in procurement, Jesse Lee, enterprise software