We’re spotlighting one of the many innovative and forward-thinking companies within our portfolio, Stimulus, and their founder and CEO, Tiffanie Stanard.
The Evolution of Stimulus: Smarter Sourcing, Stronger Relationships
Tiffanie started Stimulus, an AI-powered procurement solution, in 2018 with a vision to provide businesses with economic empowerment (a subtle nod to her logo design). The Stimulus platform uses data, insights, and AI to integrate supplier information to simplify the procurement process and build long-lasting supplier and buyer relationships. Tiffanie’s goal was to digitize and humanize the process to help buyers save time and money — while helping great companies find each other.
During her twenty year tenure in procurement – spanning corporate environments, working as a consultant, and serving as a founder – Tiffanie couldn’t ignore just how clunky and unusable most procurement databases were. Businesses were getting more traction and interaction at events and networking in-person than finding companies online. What changed her perspective was seeing how the human resources industry approached candidate sourcing - applicants were getting answers quickly and efficiently, whereas the RFP process was anything but seamless or quick. She was determined to change this experience within the supply chain.
Since starting Stimulus, Tiffanie has been named one of 10 Business Leaders Transforming Supply Chain by Business Insider and been recognized for her trailblazing work in the procurement industry in Philadelphia's Forty Under 40 list and Supply & Demand Chain Executive's Top Pros to Know.
Building on Success: The Future of Stimulus
Bronze Valley met Tiffanie and learned of Stimulus’ work early on in their company’s growth and in 2022, when they were preparing their Seed Round, we knew it was time to back them. Since inception, the company has raised over $4M from investors that include Bronze Valley, Morgan Stanley, Northwestern Mutual, Darco Capital, and more – with customers that include Penn Medicine, Emblem Health, Philadelphia Soccer 2026, Grand Casino Mille Lacs, among others.
The future looks bright for Stimulus, with plans ahead for product enhancements that will make the RFP process even more comprehensive, creating an experience that’s further enhanced by supplier overviews and comparisons, reporting, and AI-powered insights. Stimulus will also continue expanding partnerships, including those with Microsoft and AWS, and host new programming and speaking engagements with both partners in the year ahead.
Tiffanie believes that investors play an important role in the survival of a business; she says when investors have a good relationship with their portfolio companies and vice versa, it can elevate the success of everyone. Whether in the procurement process or investment, “we’re all people building a business, not a machine,” says Tiffanie, and we couldn’t agree more. The human element of investing will always be a part of who we are, and that means doing our part to provide support – beyond just capital – for our founders.
We look forward to seeing what Stimulus, Tiffanie, and her team accomplish in the year ahead!
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