Vancouver-headquartered Conexiom has landed a $130 million growth investment from Warburg Pincus, a leading global growth investor.
Warburg Pincus is joining existing investors Luminate Capital, who retains a majority stake, and ICONIQ Growth, who invested $40 million into Conexiom in 2020.
Conexiom is focused on eliminating manual order processes and helping customers deliver a superior customer experience. Conexiom is the only vendor in the market that delivers touchless order processing with 100 percent data accuracy.
“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,” said Ray Grady, President and CEO, Conexiom.
“This investment is great validation of our people, platform and market leadership and will help us accelerate product investment to meet growing market demand.”
Conexiom Chairman and Luminate Operating Partner, Mark Pierce, noted, “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.”
“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,” said 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,” added Angel Pu, Vice President Warburg Pincus.
Luminate acquired control of ecMarket (dba Conexiom) in February 2018. Conexiom is based in Vancouver and has offices in Kitchener, Chicago, and London, England.
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