Insight Partners led a $40m Series B round in Tropic.

Insight Partners, a global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies, led a $40m Series B round in Tropic, a SaaS software procurement platform. "Technology companies are beginning to understand the procurement imperative, but yesterday's tools were not designed for today's most important category, SaaS. This is creating major frustrations. Today, we are filling an important gap in the market with a procurement platform that is elegant, easy to use, and built for SaaS, finally. In time, Tropic will sit at the center of every software transaction, creating compounding value and efficiency for every new user. We look forward to working with Insight as we launch our new software modules and take the next steps on our journey," David Campbell, Tropic CEO.