- Conexiom, a leading SaaS provider of sales order and invoice automation solutions, announced it raised $130 million. These are the details.
Conexiom — a leading SaaS provider of sales order and invoice automation solutions — announced recently that it raised a $130 million growth investment from Warburg Pincus. Warburg Pincus is joining existing investors Luminate Capital, which retains a majority stake, and ICONIQ Growth.
The company’s platform delivers touchless AP and Sales Order processing capabilities for manufacturers and distributors. And they are the only vendor that automates these key processes with 100% data accuracy. Annually, over $15 trillion dollars of order to cash and procure to pay transactions are manually processed in North America and Europe.
Conexiom eliminates expensive and error-prone manual processing, thus enabling customers to deliver a superior customer experience. Modern businesses use 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
