- Conexiom, a leading SaaS provider of order and invoice automation solutions, announced it has raised $ 130 million. These are the details.
Conexiom, a leading SaaS provider of order and invoice automation solutions, recently announced that it has raised a $ 130 million growth investment from Warburg Pincus. Warburg Pincus joins existing investors Luminate Capital, which retains a controlling stake, and ICONIQ Growth.
The company’s platform provides access point and contactless sales order processing capabilities to manufacturers and distributors. And they’re the only vendor that automates these key processes with 100% data accuracy. Each year, more than $ 15 trillion in receivables and procurement payable transactions are processed manually in North America and Europe.
Conexiom eliminates costly and error-prone manual processing, enabling customers to deliver a superior customer experience. Modern businesses use Conexiom to redeploy resources to activities that deliver greater profitability, accelerate the order cycle, and deliver orders on time and in full. More than $ 100 billion of business-to-business transactions are processed each year on the Conexiom platform.
âConexiom customers are facing growing challenges that are accelerating the need for automation solutions. Our platform is essential to our customers’ mission, helping them automate and tailor their order to the cash-in and sourcing-to-payment processes. This investment is a great validation of our people, platform and market leadership and will help us accelerate product investments to meet growing market demand. “
– Ray Grady, President and CEO, Conexiom
âSince Luminate’s investment in 2018, Conexiom has grown six-fold and I sincerely believe that we are just getting started. I am extremely excited about what the future holds.
– President of Conexiom and operational partner of Luminate, Mark Pierce
âAs demand for SaaS systems increases, we continue to see significant growth opportunities for companies like Conexiom. Our investment underscores our long-term commitment to strategically invest in market-leading B2B software companies. ”
– Justin Sadrian, Managing Director, Warburg Pincus
âWe are extremely pleased to partner with Ray and the rest of the Conexiom team to build on their success and help expand their offerings in this dynamic and growing market. ”
– Angel Pu, Vice President Warburg Pincus
âWhen we acquired Conexiom in 2018, we were convinced that we were in the early days of B2B automation. Conexiom solves key issues for customers of all sizes. We are excited to partner with Warburg Pincus as we enter this next phase of growth. ”
– Hollie Haynes, Managing Partner of Luminate Capital
âConexiom’s product has been the foundation of its success and growth to this day and will continue to be so as the company expands its platform to meet additional customer needs.
– Dave Ulrich, partner at Luminate Capital