Vistex, a Chicago-based software company, announced that it has raised $65 million in the form of a minority equity investment and up to an additional $40 million for future strategic acquisitions from Accel-KKR (AKKR). Vistex has grown significantly over the past 20 years as the company now has 20 offices and 1,500 employees. And last year, Vistex hit nearly $250 million in revenue.
“This is the first equity capital raise in the history of the company. It is unprecedented for an enterprise software company to grow to a size and scale like Vistex without any external capital,” said Vistex Chief Architect and CEO Sanjay Shah. Shah founded Vistex in 1999 and has been leading the company since then.
Photo: Sanjay Shah / Credit: Vistex
“And this partnership with Accel-KKR is designed to leverage the strength of the Vistex footprint and intellectual property with the capabilities of a leading tech-focused private equity investor to conquer new frontiers,” Shah added.
Vistex currently serves businesses of all sizes and enables mission-critical processes for managing trade, channel, pricing, performance incentives, rights and royalties, and vendor programs. Plus Vistex complements its software platforms with implementation, business advisor, and analytics services.
Vistex plans to use the funding to support a variety of company priorities such as talent acquisitions in sales, engineering, and marketing from universities and colleges in the area.
“We are excited about partnering with Vistex to build on their past success and deliver more value to their customers, partners and employees,” explained Accel-KKR managing director Greg Williams.
