Slater reinvests $100K in Absolute Commerce

The Slater Technology Fund will invest an additional $100,000 in local e-commerce technology firm Absolute Commerce, bringing Slater’s total investment in the company to $350,000, Slater announced Tuesday. More

To continue reading this article, please do one of the following.



technology

Slater reinvests $100K in Absolute Commerce

PBN FILE PHOTO/RUPERT WHITELEY
THE SLATER TECHNOLOGY FUND will reinvest $100,000 in Absolute Commerce, a Providence-based e-procurement platform that helps large companies purchase goods and services more efficiently. Founder and President Kevin Wilbur, pictured above, founded the company in 2012 after years of experience as a former GE Capital executive in the purchase-to-pay area.
Posted 4/29/14

PROVIDENCE – The Slater Technology Fund will invest an additional $100,000 in local e-commerce technology firm Absolute Commerce, bringing Slater’s total investment in the company to $350,000, Slater announced Tuesday.

Founded in 2012 by Kevin Wilbur, Providence-based Absolute Commerce has developed an e-procurement catalog platform that integrates supplier catalogs with buyer ERP systems to make it easier for large companies to purchase the goods and services they need more efficiently and economically.

Absolute Commerce has already been recognized as a certified partner of Oracle, North America’s leading ERP software provider, and recently launched a partnership with Basware, an e-invoicing and purchase-to-pay solution company, to integrate catalogs into their procurement offerings.

“Having the lowest cost structure is one of the greatest strategic advantages a company can have, but procurement departments routinely shoot themselves in the foot by focusing on heavy procurement software and neglecting their data strategies,” said Thorne Sparkman, managing director of the Slater Technology Fund. “Kevin and his team are using rich data to make existing investments in purchasing infrastructure sing – after all, employees can only act on prices they can see.”

The Absolute Commerce investment is the Slater Fund’s first this year. Slater’s initial $250,000 in Absolute Commerce was made in January 2013. Other 2013 investments included energy firms VCharge, Enhanced Energy Group and VoltServer, as well as the health care mobile messaging platform Care Thread.

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement