Procurement Sciences AI (PSci.AI), a veteran-founded company specializing in generative AI tools for government contracting, announced a successful $10M Series A funding round today.
The investment was spearheaded by Battery Ventures, with additional contributions from Tower Research Capital, K Street Capital, and Blu Ventures.
The funding will enhance PSci.AI’s platform, which promises to revolutionize the government contracting process by enabling businesses to identify and respond to bid opportunities ten times faster.
The company’s innovative tools integrate with existing data sources like SharePoint and Google Drive, reducing the time spent on bidding tasks by over 90%.
PSci.AI’s board will be joined by Brandon Gleklen of Battery Ventures and Jared Young of Tower Research, bolstering its leadership as it aims to democratize access to government contracts.
The firm offers discounted rates to veteran, women, and minority-owned businesses, as well as non-profits, aligning with its mission to promote equity in government procurement.
Christian Ferreira, CEO and founder, emphasized the transformative potential of generative AI in addressing the industry’s challenges, stating, “We’re not just improving the process; we’re redefining it.”