Oppex, the world’s largest search engine and database of public bidding contests, announces closing a $2.3 million financing round. Helsinki’s Open Ocean Capital and London-based Initial Capital are joining the group of company’s existing investors.
Oppex provides an online tool for companies to find cross-border sales opportunities in the public bidding contests, and the service is used by the public sector and other organizations buying products and services through a tendering process. The selection of companies using Oppex varies from small export companies to Fortune 500 corporations.
The global value of public tenders is estimated to be at least $10,000 billion according to Oppex. The service launched in 2014 is digging into this huge market and has quickly grown its database that now has close to five million tenders.
“Oppex aggregates tenders from every possible industry. For example the value of fire truck tenders you can find annually on Oppex is close to $600 million. And that’s a tiny fraction of the tenders we have in our database,” says Ville Heinonen, the CEO of Oppex.
Popular searches on Oppex are goods and services related to healthcare, security and construction industries.
“We wanted to simplify the experience of finding new business opportunities into a clean, easy to use interface – finding relevant tenders should be as easy as using Google,” Heinonen continues.
Oppex is also participating at Slush 2015, where the company has been selected as a Top-50 Growth Stage and Top-25 B2B company, out of over 1600 participating startups.