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Vancouver based Olive Raises $1 Million Because Buying Technology Sucks

Olive Team Collaboration on Olive platform

Vancouver company to double down on engineering and product advancements, helping customers transform their software buying process.

Vancouver – Olive, the vendor selection software company, announced a new $1 million round in seed funding to empower businesses to streamline digital transformation. The round is led by Active Capital with participation from  Techstars, and Novator.

Buying enterprise software is difficult, risky, and frustrating. Most companies spend months evaluating two or three technology vendors, only to end up with the wrong solution. Whether they run into snowballing customization costs, have difficulty driving adoption, or discover the most important features are missing, every company is exposed to the very real consequences of a bad software decision. Even for companies that take vendor selection seriously, spreadsheets, word documents, and in person meetings are their only tools in what is an extremely manual and tedious process today.

“We see a huge opportunity for companies to save big and move faster just by improving their buying process,” said Christopher Heard, CEO of Olive. “In today’s environment, every industry, even the traditionally more laggard ones are forced to fast forward their digital transformation. They don’t have time to evaluate solutions for months and still risk falling further behind by getting it wrong.”

Olive transforms the buying process by easily moving customers away from the archaic RFP/RFI processes to a fully agile evaluation. This leads to a much faster, far more effective decision while also increasing collaboration across stakeholders, providing assurance that 100% of solutions are evaluated, and assuring a robust and objective selection process.

“Today, buying enterprise software is full of bias & misaligned Incentives. Olive is unique in their approach & commitment to making the process more collaborative and free of bias,” lead investor Pat Matthews, Active Capital.

Olive also provides tools for software vendors to demonstrate their benefits to buyers and gain valuable insights into the needs of their prospects. By streamlining the experience for buyers, Olive is able to shorten sales cycles for vendors as well as foster stronger, longer lasting partnerships. Taking the best practices of the world’s leading technology decision makers and consultants, the company plans to become the real world olive branch between buyers and sellers.

“Balancing stakeholder requirements when evaluating technology options is an eternal pain point.” Says Sean Thompson, IT Director of Freddy’s Steakburgers. “Olive have really built a solution that I can count on to help me deliver value to our teams. No industry is untouched by digital transformation. Immediately and in the future, Olive have an opportunity to become an indispensable product for anyone tasked with IT procurement.”

To learn more about Olive and book a demo, please visit www.olive.app or email info@olive.app

About Olive

Olive is an end-to-end technology sourcing platform. Olive can enhance the output from your existing technology partners. Olive’s platform simplifies the software evaluation process, getting you to a solution faster than a traditional RFP. Founders Chris Heard and Dan Harrison have spent many years on the vendor side of the equation, seeing first hand the bias and inefficiencies of the process. They decided to help buyers by improving the process for everyone. Olive is headquartered in Vancouver, Canada.

Learn more about Olive.

CIO, Digital Transformation, Evaluations, Transparency

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