Proprietary data platform based on technology Expenses matter concluded an investment agreement with a private investment company Copley Equity Partners for an undetermined amount, according to a Press release Friday (December 10).
Copley Equity Partners, which focuses on lower-middle market companies with strong growth opportunities, has supported Spend Matters in part because of its ability to affect buying decisions across multiple levels and markets, as well as its ability to Optimize strategic technology sourcing decisions across the global purchasing, finance and supply chain technology ecosystem.
See also: Widening the scope of supplier risk management in procurement
“Copley Equity Partners’ investment in Spend Matters paves the way for our next phase of growth by allowing us to scale within sourcing while expanding into adjacent technology markets,” said Founder and CEO of Spend Matters. Jason busch.
“Copley’s resources and expertise will allow us to market and deploy our proprietary data platform across a range of technology markets, including accounts payable, B2B payments, supply chain analysis, l ‘ESG and CSR,’ added Busch.
Spend Matters uses a data-driven approach to analyze technology and solutions. He pioneered SolutionMap, a “technology benchmarking methodology based both on granular technology assessments from analysts and on customer benchmarks”.
Read more: Reducing Supply Chain ‘Fragmentation’ Helps Businesses Fight Payment Fraud
TechMatch, launched earlier this year, is the only software as a service (SaaS) application on the market that coordinates the business requirements and capabilities of technology vendors. It is used by Fortune 500 and Global 2000 companies, public sector organizations, and global consulting firms.
The solution drives technology decision-making for procurement, accounts payable, contract management and more, the release said.
“Procurement technology has quickly become a dominant area of SaaS investment for organizations of all sizes. Supply chain challenges, commodity inflation and price volatility continue to elevate sourcing in the boardroom and the headlines, ”said Peter Trovato, co-founder and Managing Director of Copley Equity Partners.
Trovato added that Spend Matters is a market leader in “disrupting the existing ecosystem of analysts and market intelligence” with its “unique, data and technology-driven approach to analyzing technology.”