Bloom Procurement Services to raise £14 million from BGF.

Bloom Procurement Services, a Gateshead (Newcastle), UK-based operator of a B2B marketplace for public services in England, announced the completion of a capital funding round of £14 million ($19.4M).

The money was raised from the British growth investors from BGF.

Bloom Procurement Services, founded in 2011 by Adam Jacobs and led by CEO Amabel Grant, developed an open access marketplace for the provision of professional services to the UK Public Sector.

Bloom's managed service enables public sector buyers to compliantly and transparently award public sector contracts and achieve significant savings. Buyers have access to a dynamic supplier base across a wide range of professional service categories. For suppliers of professional services, Bloom offers an efficient and effective route to market.

The Bloom marketplace is open access allowing all suppliers to register on the platform at no cost. It enables SMEs access to a market on a 'level playing field' alongside more established organisations.