Mohammed Ibrahim
- Co-Founder and CTO at Penny Software
GetLatka interview
How Penny Software Reached $5M in Fresh Capital and Tens of Paying Customers in Procurement SaaS (Interview with CTO Mohammed Ibrahim)
Mohammed Ibrahim (Co-Founder and CTO of Penny Software) spoke to Nathan Latka on March 7, 2022.
Penny Software figures from the interview
- Latest Funding Round (January 2022)
- $5,000,000
- Team Size (2022)
- 25
- Engineers (2022)
- 13
- Pricing per User (2022)
- $1,000 per year
- Paying Customers (2021)
- 1
“Our main goal is basically help companies or firms streamline their procurement processes through different offerings of ours. The goal, the main goal is basically for the companies to have or oversee their spendings and their procurement processes in general.”
“What we're doing uniquely and what differentiates us from competitors is how we basically positioned our software offerings as well as services. We combined different arms. First is basically the software offering that we're doing. Second is the logistics and ability to reach out to multiple our different suppliers on the ground.”
“It ranges from sometimes, some cases, actually 0.5 to all the way to 15% by just employing our software technology stack, as well as best industry practices in terms of procurement processes.”