Crowdfox

Crowdfox is a German technology company specializing in purchasing optimization for large and medium-sized enterprises. Founded in 2014 by Andre M Aslund and Wolfgang Lang, the Cologne-based firm initially operated as a B2C and B2B e-commerce marketplace. After Dirk Schäfer took over as CEO in 2020, the company pivoted to focus exclusively on its B2B software solution for indirect procurement, shutting down its public marketplaces in 2022. Schäfer brought over two decades of experience in procurement consulting to steer the company's new direction.

The company's core offering is a SaaS platform designed to streamline the purchasing of C-parts and other non-strategic goods. It addresses the inefficiency and lack of transparency common in indirect procurement by providing a centralized, user-friendly interface. Crowdfox's business model is subscription-based, serving corporations and large SMEs. By integrating with existing Supplier Relationship Management (SRM) systems, the platform provides significant cost and time savings, reporting an average of 12% savings in indirect procurement costs.

At the heart of its technology is the proprietary UTIN® (Unique Trade Item Number) matching system. This technology assigns a unique identifier to each item by consolidating data from various supplier catalogs and marketplaces, enabling direct, apple-to-apple comparisons of price, delivery time, and ESG criteria. Building on its extensive database of over 50 million items, the company recently introduced ChatCFX, an AI-powered chatbot that further automates the procurement process, allowing users to find and order items through conversational dialogue. Crowdfox has raised a total of $11.1 million over three funding rounds, with its latest round in February 2024.

Keywords: indirect procurement, purchasing optimization, eProcurement, SaaS, C-parts management, supplier relationship management, spend analysis, matching technology, AI procurement, Chatbot