Track tenders, win bids – British startup Stotles just raised €11.5 million to do exactly that

London-based Stotles, a platform helping private sector suppliers grow their revenue in the public sector, has raised a €11.5 million Series A funding round to expand into the US market and further develop its platform.

The round was led by Headline and Acton, with participation from Form Ventures and Seedcamp.

“Governments everywhere are thinking differently about what and how they buy,” says John Witt, CEO & Co-Founder of Stotles. 

“We’re seeing changes in the UK and US public sector markets towards efficiency and cost cutting; with both the Labour government’s policies to cut the cost of government operations, and the creation of the Department of Government Efficiency (DOGE) respectively. The market is evolving, and businesses who stand still are being left behind. This is why Stotles exists, because our customers increasingly need a single place to manage the complexity of this market to grow their public sector revenue,” Witt adds.

Founded in 2020, Stotles is a single platform to grow public sector business. It is an end-to-end tool where users can: create strategy, build pipeline, track tenders and win bids. Stotles is used and trusted by public sector teams at Amazon Business, Salesforce, Snowflake, Civica, SAP, Palo Alto Networks, Appian, Vodafone, AtkinsRéalis, CGI, Moody’s, Genesys, Splunk, NEC Software, UiPath, Zscaler, Zoom and more.

The platform uses AI to enhance decision-making in the stages of the sales cycle, keeping its customers focused only on serious revenue opportunities. Stotles AI reportedly analyses millions of government data points and uses a bespoke algorithm to size suppliers’ total addressable markets (TAM), build their target account lists, identify early buying signals, and only show businesses the most relevant contracts in the public sector.

Suppliers can find connections between opportunities, buyers’ procurement histories, competitor relationships, and potential partners, to enrich them with additional information that would have taken hours to find across thousands of portals – according to Stotles.

Stotles AI also analyses live tenders to qualify whether companies should bid on them. This stops suppliers wasting time on opportunities they won’t win, and saves time by using AI to generate drafts of bids companies choose to pursue.

According to data provided by Stotles, public sector spending is over €477 billion annually in the UK alone, and over €11.5 trillion worldwide, positioning Stotles to meet demand for a platform that helps businesses navigate the increasing complexity of selling to the public sector. 

Christian Miele, General Partner at Headline, says: “For Europe to meet the demands of the future, procurement must evolve. We thrive only if the public and private sectors work in sync. Procurement is the beating heart of that relationship. Yet it remains massive, under-optimised, and lacking transparency. With Stotles, we’re continuing to back a team that is building the tools to modernise how trillions in public funds are accessed, giving more businesses the opportunity to participate. This is what real government efficiency can look like.”

The Series A funding follows a period of rapid growth for Stotles. Since its Seed round raise, the company has:

• Multiplied its customer base, gaining clients such as Amazon Business, Salesforce, Vodafone, NEC Software, Palo Alto Networks, and Snowflake

• Grown its freemium user base by over 700%

• Launched an AI powered version of the platform, which covers every stage of the public sector commercial process

• Generated 4x qualified pipeline growth for its customers

• More than doubled its customers’ public sector contract win rate

Julius Lühr, Partner at Acton, added: “B2G transactions are massive in terms of volume and affect all of us. However, the sector’s special requirements often create friction and complexity. Stotles’ team obsesses about the nuances of the industry and has created the definitive suite of products to help companies sell effectively to the public sector.”

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