- Conexiom — a leading SaaS provider of sales order and invoice automation solutions — announced a $130 million growth investment from Warburg Pincus. These are the details.
Conexiom — a leading SaaS provider of sales order and invoice automation solutions — announced a $130 million growth investment from Warburg Pincus. Warburg Pincus is joining existing investors Luminate Capital (who retains a majority stake) and ICONIQ Growth.
Conexiom’s platform delivers touchless AP and Sales Order processing capabilities to manufacturers and distributors. Ever year, more than $15 trillion dollars of order to cash and procure to pay transactions are manually processed in North America and Europe. And Conexiom eliminates expensive and error-prone manual processing, enabling customers to deliver a superior customer experience. Modern businesses utilize Conexiom to redeploy resources to activities that deliver greater profitability, expedite order cycle time, and deliver orders on time and in full. Over $100 billion in business-to-business transactions are processed on the Conexiom platform annually.
KEY QUOTES
“Conexiom’s customers face growing challenges that are accelerating the need for automation solutions. Our platform is mission-critical to our customers, helping them automate and scale their order to cash and procure to pay processes. This investment is great validation of our people, platform, and market leadership and will help us accelerate product investment to meet growing market demand.”
— Ray Grady, President and CEO, Conexiom
“Since Luminate’s investment in 2018, Conexiom has grown over 6x and I truly believe we are just getting started. I’m tremendously excited about what the future holds.”
— Conexiom Chairman and Luminate Operating Partner Mark Pierce
“As the demand for SaaS-based systems grows, we continue to see significant growth opportunity for companies like Conexiom. Our investment underscores our long-term commitment to investing strategically in market-leading, B2B software businesses.” — Justin Sadrian, Managing Director, Warburg Pincus
“We are incredibly excited to partner with Ray and the rest of the Conexiom team to build upon their success and help expand their offerings in this dynamic and growing market.”
— Angel Pu, Vice President Warburg Pincus
“When we acquired Conexiom in 2018 we had real conviction that we were in the early innings of B2B automation. Conexiom solves key problems 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
“Conexiom’s product has been the foundation of its success and growth to date and will continue to be as the company expands its platform to address additional customer requirements.”
— Dave Ulrich, Partner at Luminate Capital
