Total amount raised
$320.6 Millions
Latest funding date
1/1/2021
Location
Globality has successfully raised $47 million in its latest funding round, bringing its total funding to an undisclosed amount. The company specializes in AI-driven solutions for enterprise spend management and procurement.
Keep reading to explore the intricacies of Globality's fundraising journey and the investors backing this innovative platform.
What Is Globality?
Founded in 2015, Globality is headquartered in Palo Alto, California. The company was established by Joel Hyatt and Lior Delgo.
Globality specializes in AI-powered spend management and sourcing solutions, transforming how enterprises source and spend. Their platform helps companies cut costs, move faster, and achieve significant savings through autonomous sourcing.
With a team of 251-500 employees, Globality connects global companies with the best suppliers, ensuring efficient and effective sourcing across every service category.
How Much Funding Has Globality Raised?
- Series A
- Amount Raised: $10M
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundational operations and initial product development.
- Series B
- Amount Raised: $27.3M
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series C
- Amount Raised: $35M
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the AI capabilities of the platform.
- Series D
- Amount Raised: $100M
- Date: January 2019
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and further develop AI-driven solutions.
- Series E
- Amount Raised: $138.3M
- Date: January 2021
- Lead Investors: Sienna Capital, SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support global expansion.
- Venture Round
- Amount Raised: $47M
- Date: October 2024
- Lead Investors: Rollins Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the growth of its AI-powered autonomous sourcing software.
Globality has raised a total of $357.6M. The current valuation is not publicly disclosed.
Key Investors
- Rollins Capital
- Details: Rollins Capital is a venture capital firm that participated in Globality's Series D-1 and D-2 funding rounds. They are known for investing in high-growth potential companies.
- Investment Focus Areas: Technology, AI-driven solutions, enterprise software.
- Notable Investments: Globality.
- Sienna Capital
- Details: Sienna Capital is a global investment platform that is part of Groupe Bruxelles Lambert (GBL). They focus on alternative investments.
- Investment Focus Areas: Private equity, private debt, real assets.
- Notable Investments: Globality.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund under the SoftBank Group, known for its significant investments in technology companies.
- Investment Focus Areas: AI, robotics, advanced technologies.
- Notable Investments: Uber, WeWork, ARM Holdings.
- Existing Preferred Shareholders
- Details: These are previous investors who have continued their support in Globality's latest funding rounds. Specific names are not publicly disclosed.
- Investment Focus Areas: Likely focused on AI and procurement technologies.
- Notable Investments: Globality.
- Dennis Nally
- Details: Dennis Nally is an individual investor who has invested in Globality. He is known for his expertise and interest in high-growth companies.
- Investment Focus Areas: Not explicitly mentioned, but individual investors often invest in companies within their areas of expertise or interest.
- Notable Investments: Globality.
What's Next for Globality?
Globality stands at the cusp of significant opportunities, driven by the increasing adoption of AI in procurement. With $47 million recently raised, the company is poised to expand its AI-powered autonomous sourcing software, potentially attracting more Fortune 500 clients. The market for AI-driven procurement solutions is vast, offering substantial cost reductions and operational efficiencies.
Future fundraising seems likely as Globality continues to scale and innovate. The company may explore additional funding rounds to support its growth and technological advancements. However, challenges such as competition from other AI solutions and the need for continuous innovation could pose hurdles. Ensuring seamless integration with enterprise systems and maintaining data security will be crucial as they navigate this dynamic landscape.
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