San Diego software startup Capture2, which aims to become like Salesforce for government contractors, has raised $4 million in a first round of funding led by Peter Thiel’s Mithril Capital Management.
Founded in 2015, Capture2 has developed software to make it easier for businesses, particularly small and midsize companies, to penetrate the government contracting market – where long sales cycles, complicated procedures and entrenched incumbents can create barriers.
“In this market there is a significant information disadvantage that the non-incumbent small business often faces,” said Chief Executive Douglas Gourlay. “Twenty-five percent of all procurement dollars go to 10 companies, 50 percent goes to 100 companies.”
Read more at The San Diego Union-Tribune