NOCTURNE

Nocturne

YieldRisk 22

After-hours procurement copilot that sits on existing ERPs and captures the 18:00–06:00 RFQ window manufacturers currently lose to distributors.

Year-1 ARR

$4.12M

TAM

$6.4B

Daily yield

$11,280

Market

Mid-market discrete manufacturers, 200–2,000 employees, Midwest and South. They already buy; they just buy badly after the office closes.

Architecture

Inbound email and EDI land on an event bus. A bid composer drafts responses with human-in-the-loop above $40k. Settles against the plant’s existing vendor master — no new buying entity.

Execution

47 plants live, 12 in onboarding. Expansion is a playbook: connector, two weeks of shadow bidding, then overnight autonomy with a 07:00 exception queue.

Stress-test

31% of GMV still sits with four accounts — scale is gated on logos, not product.
Epicor connector p95 latency 4.8s; bid composer times out on multiline kits.
1.8% GMV take-rate is sticky; raising to 2.1% churned a single plant in trial.

Gates

SOC 2 Type IPass
UCC Article 2Pass
GDPR / UK GDPRPass
FTC endorsementsPass

Risk vector

Market

Ops

Legal

Counterparty

Concentration

Liquidity

Swarm trail

scoutDetected 14% week-over-week lift in after-hours RFQs across Midwest manufacturers.
auditorNOCTURNE concentration: 31% of GMV from four accounts. Hold on the next scale tranche.