Total amount raised
$320.6 Millions
Latest funding date
01/01/2021
Location
Title
Globality has successfully raised significant funding over multiple rounds, positioning itself as a key player in AI-driven enterprise procurement solutions. The platform leverages advanced AI to transform enterprise spending, offering features like autonomous sourcing and guaranteed savings.
Keep reading to explore the intricacies of Globality's fundraising journey and the investors backing this innovative platform.
What Is Globality?
Globality, founded in 2015 in Palo Alto, California, leverages AI to transform enterprise spending and procurement processes. The company integrates AI into spending workflows to drive down costs, enhance decision-making, and manage risk.
Globality offers solutions for sourcing, tail spend, and integrations with enterprise systems, ensuring guaranteed savings for its clients. The company is trusted by the Global 2000 to improve business outcomes.
While the exact number of employees is not specified, Globality's innovative approach and strategic location in Silicon Valley position it as a significant player in the AI-driven procurement space.
How Much Funding Has Globality Raised?
- Series A - Globality
- Amount Raised: $10 million
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the team.
- Series B - Globality
- Amount Raised: $35 million
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance AI capabilities.
- Series C - Globality
- Amount Raised: $50 million
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate market penetration and product development.
- Series D - Globality
- Amount Raised: $100 million
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global reach and invest in advanced AI research.
- Series E - Globality
- Amount Raised: $138 million
- Date: February 2021
- Lead Investors: John R. Joyce, Mark Vorsatz, Sienna Capital (Colin Hall)
- Valuation at Round: $1 billion
- Motivation Behind the Round: To solidify market leadership and enhance platform capabilities.
Total Amount Raised: $333 million
Current Valuation: $1 billion
Key Investors
- Rollins Capital
- Details: Rollins Capital is a private equity firm known for its strategic investments in technology and innovation. The firm has a history of backing companies that drive significant market changes.
- Investment Focus Areas: Technology, Innovation, Enterprise Solutions
- Notable Investments: Not publicly disclosed
- Dennis Nally
- Details: Dennis Nally is a prominent investor and former Chairman of PricewaterhouseCoopers (PwC). He brings extensive experience in financial services and corporate governance.
- Investment Focus Areas: Financial Services, Corporate Governance, Technology
- Notable Investments: Not publicly disclosed
- John R. Joyce
- Details: John R. Joyce is a seasoned investor with a background in technology and finance. He has been involved in multiple funding rounds for Globality, particularly Series E.
- Investment Focus Areas: Technology, Finance, AI
- Notable Investments: Not publicly disclosed
- Mark Vorsatz
- Details: Mark Vorsatz is a key investor in Globality's Series E funding round. He is known for his leadership in the financial sector and strategic investments.
- Investment Focus Areas: Financial Services, Technology, AI
- Notable Investments: Not publicly disclosed
- Sienna Capital
- Details: Sienna Capital, represented by Colin Hall, is a leading investment firm that participated in Globality's Series E round. The firm focuses on long-term value creation.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Not publicly disclosed
What's Next for Globality?
Globality stands at the cusp of significant opportunities, driven by its robust AI-driven procurement solutions. With a post-money valuation ranging from $1 billion to $10 billion, the company is well-positioned to capitalize on the growing demand for efficient enterprise spending management. The backing of 24 investors underscores the strong market confidence in Globality's potential for expansion and innovation.
Future fundraising appears promising, as evidenced by the recent Venture - Series Unknown round in October 2024. This continuous influx of capital will likely fuel further advancements in AI capabilities and market penetration. However, challenges such as maintaining growth momentum and navigating competitive pressures remain. Balancing these dynamics will be crucial for Globality's sustained success.
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