Conexiom announces $ 130 million growth investment from Warburg Pincus
CHICAGO and VANCOUVER, September 28, 2021 / PRNewswire / – Conexiom, the leading SaaS provider of order and invoice automation solutions, today announced a $ 130 million growth investment from Warburg Pincus, a leading global growth investor. Warburg Pincus joins existing investors Luminate Capital, which retains a controlling stake, and ICONIQ Growth.
Conexiom’s platform provides access point and contactless customer order processing capabilities to manufacturers and distributors and is the only vendor that automates these key processes with 100% data accuracy. Each year, more than $ 15 trillion collection order and payment authorization transactions are processed manually in North America and European. 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 $ 100 billion in inter-company transactions are processed annually on the Conexiom platform.
“Conexiom 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 adapt their cash ordering and procurement to payment processes, ”said Ray grady, President and CEO, Conexiom. “This investment is a great validation of our leadership in people, platform and market and will help us accelerate investments in products to meet growing market demand. “
Chairman of Conexiom and operational partner of Luminate, Marc Pierce, noted: “Since Luminate’s investment in 2018, Conexiom has grown 6-fold and I truly believe we are just getting started. I am extremely excited about what the future holds.”
“As 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, ”said Justin sadrian, Managing Director, Warburg Pincus. “We are extremely happy 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,” added Angel Pu, Vice President Warburg Pincus.
Hollie haynes, Managing Partner of Luminate Capital, commented: “When we acquired Conexiom in 2018, we were convinced that we were in the early stages of B2B automation. Conexiom solves key issues for customers of all sizes. We are delighted to partner with Warburg Pincus as we enter this next phase of growth. “” Conexiom’s product has been the basis of its success and growth to this day and will continue to be so as we go. as the company expands its platform to meet additional customer needs, ”added Dave ulrich, partner at Luminate Capital.
Blake, Cassels & Graydon LLP and Kirkland & Ellis acted as legal advisers to Conexiom. Goodwin Procter LLP served as legal counsel to ICONIQ Growth. Orrick, Herrington & Sutcliffe LLP and Stikeman Elliott LLP acted as counsel to Warburg Pincus. Guillaume Blair was financial advisor to Conexiom.
Conexiom is the only SaaS platform that delivers automation results in checkout and fund-to-pay processes with 100% accuracy. Manufacturers and distributors around the world, such as Grainger, Genpak, Prysmian, Rexnord, USESI and Compugen trust Conexiom to provide contactless order processing with 100% data accuracy to eliminate unnecessary costs and resource loads, and redeploy human capital to provide the best levels of customer service. Conexiom is based at Vancouver, BC, and has offices at Kitchener, ON, London, England Munich, Germany and Chicago, Illinois. For more information visit www.conexiom.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investments. The company has more than 64 billion dollars in private equity assets under management. The company’s active portfolio of over 205 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner of leadership teams seeking to build sustainable businesses with enduring value. Warburg Pincus has invested more than $ 24 billion in technology companies since its inception and is one of the most active growth investors in enterprise technology and cloud-based platforms. Notable technology investments include Avalara, Assent Compliance, Clearwater Analytics, CrowdStrike, Salsify, and Samsara. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested over $ 94 billion in over 940 companies in over 40 countries. The company is headquartered in new York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Bombay, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com.
About Luminate Capital
Luminate Capital Partners is a private equity firm specializing in investing in growth-oriented enterprise software companies. Luminate partners with leadership teams to provide capital to drive strategy, growth and operational improvements. Luminate’s portfolio of market leaders includes AutoQuotes, Axonify, Compliance & Risks, Fintech, LiquidFrameworks, MSI Data, Oversight Systems, Quantivate, PDI, StarCompliance and Thought Industries. For more information visit www.luminatecapital.com.
About ICONIQ Growth
ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive impact and change globally. We are inspired by visionaries defining the future of their industries by creating corporate cultures that endure. Our unique investment platform harnesses the power of ICONIQ Capital’s vibrant ecosystem of founders, pioneers and business leaders with the goal of delivering tangible value and amplifying the success of our portfolio companies. , from the initial growth stage to the IPO and beyond. ICONIQ Growth’s portfolio of innovators includes Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake , Sprinklr, Truckstop, Uber, Wolt and Zoom, among others. For more information and a full list of portfolio companies, please visit ICONIQGrowth.com.
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