Business Wire

Globality, the World’s First Smart Sourcing Platform Powered by AI, Raises $138.3 Million of Series E Funding From Sienna Capital, a Wholly Owned Subsidiary of Groupe Bruxelles Lambert, and the SoftBank Vision Fund

Share

Globality, the leading AI-powered digital solution for sourcing strategic services, announced today it has closed an investment of $138.3 million from Sienna Capital, a wholly owned subsidiary of Groupe Bruxelles Lambert (GBL), and the SoftBank Vision Fund. This new investment brings Globality’s total funding to $310.3 million since being founded five years ago. As part of the investment, Colin Hall, vice-chairman of Sienna Capital, will join the company’s board of directors.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005308/en/

Joel Hyatt, Co-Founder, Chairman, and CEO of Globality (Photo: Business Wire)

Joel Hyatt, Co-Founder, Chairman, and CEO of Globality (Photo: Business Wire)

The Series E round of funding enables Globality to fuel its rapid growth by investing in additional AI technology capabilities. It also directly supports the company’s efforts to increase its global scale and capacity; add world-class talent to the engineering, product and client teams; and expand its marketing and sales programs for brand awareness so to acquire additional enterprise customers and channel partners.

Sienna Capital is the alternative investments platform of GBL, with a diversified portfolio of asset managers and direct investments and co-investments with strategic partners. GBL is a leading investor in Europe, with over sixty years of stock exchange listing, a net asset value of EUR 18 billion as of September 30, 2020 and a current market cap of EUR 14 billion. GBL has built a diversified high-quality portfolio composed of sector-leading global companies and notably holds significant ownership positions in adidas, SGS and Pernod Ricard.

Sienna Capital joins Softbank and a growing list of significant names backing Globality, including former Vice President Al Gore; Dennis Nally, former global chairman of PwC; Ken Goldman, former chief financial officer of Yahoo; John R. Joyce, former chief financial officer of IBM; Debra Polishook, former CEO of Accenture Operations; Mark Vorsatz, CEO of Andersen Tax; and Scott Belsky, chief product officer and EVP, Adobe Creative Cloud.

Globality’s platform transforms the sourcing of high-value services by automating the demand creation, supplier identification, proposal evaluation and statement of work creation process with a self-serve, consumer-like interface powered by cutting-edge AI technology. With strategic sourcing increasingly viewed as a critical source of transformational innovation for global enterprises, companies are actively seeking ways to improve their bottom line and increase efficiency gains while sourcing the best supplier for every sourcing need.

“Having Sienna Capital join SoftBank as investors in our company is further validation of the momentum we are achieving in the marketplace,” said Joel Hyatt, co-founder, chairman and CEO of Globality. “Enterprise customers are looking for an innovative solution that will deliver the value, cost savings and efficiency they need for their services sourcing. The pandemic this past year has greatly accelerated a shift we have seen evolving for the last few years — turning what was previously important into an imperative — to be able to immediately and effectively source the best supplier for every service.”

Colin Hall, vice-chairman of Sienna Capital, said, “We are impressed by the depth of Globality’s leadership and how the company’s highly innovative platform is utilizing the power of AI to dramatically transform how global enterprises source and procure services. Globality is a unique Silicon Valley startup that is reinventing the multibillion-dollar B2B services market. We are thrilled to be investing in its future and helping fuel the next stage of the company’s growth.”

“GBL’s reputation as a leading European investment holding company focused on long-term value creation benefits Globality and our customers. GBL brings a world-renowned history of building leading companies through long-term engaged and responsible leadership. We are proud to join their impressive portfolio of companies and to gain exposure to new markets, industries, customers and partners in the process,” added Hyatt.

Note to Editors

Globality’s Series D investment round of $100 million was in January 2019. Its Series A investment round of $10 million took place in March 2015, followed by a Series B round of $27.25 million in December 2015, and a Series C round of $35 million in March 2017.

About Globality

Globality is a Silicon Valley-headquartered tech company co-founded by Joel Hyatt and Lior Delgo to connect global companies with the best suppliers at the right price for any sourcing need across every service category. Through its AI-powered Platform and Smart Sourcing technologies, Globality is bringing digital transformation to the sourcing industry. Globality’s AI digital solution replaces the archaic analog request for proposal, efficiently and effectively scoping needs, managing demand, matching companies with outstanding suppliers that meet their specific service needs and cutting the sourcing process from months to hours while delivering savings of 20% or more. In January 2021, Globality raised $138.3 million from Sienna Capital and the SoftBank Vision Fund, bringing the total investment it has raised since its founding five years ago to $310.3 million. For more information, visit Globality’s website.

Contact information

Nardi Media for Globality
Justin Goldstein
justin@nardimedia.com

Globality
Kathy Makranyi
kathy.makranyi@globality.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

PMI Launches Free, Online Course and Tool Kit to Help Changemakers Jumpstart Project Success in Just 45 Minutes2.3.2021 19:00:00 EETPress release

Project Management Institute (PMI), the world's leading association for project professionals and changemakers, today announced the launch of KICKOFF, a new, free online course and tool kit to help introduce anyone doing project-based work to the best practices and tools needed to effectively manage projects from ideation to execution. Much of the working world revolves around projects, which have become more complex than ever due to global Megatrends, including COVID-19, climate change, and more. The need for changemakers, regardless of industry or position level, to be well-versed in the principles of project management in order to help drive results, has never been greater. KICKOFF is the ideal solution for those who are new to doing project-based work and would benefit from learning project management skills to help successfully navigate the process from idea to launch and execution. The course is packed with digestible content, downloadable templates, a glossary of key terms, and

Xendit Raises US$64.6 Million Series B Led by Accel to Scale Its Digital Payments Infrastructure Ushering in a New Era of Economic Security and Reliability in Southeast Asia2.3.2021 18:08:00 EETPress release

Xendit, the fastest growing digital payments infrastructure for Southeast Asia, announces it has raised US$64.6 million in a Series B round led by Accel to deliver more secure and reliable economic success in the region. Altogether, the company has raised $88 million in funding. Amid Southeast Asia’s rapid digital transformation, Xendit is quickly bolstering businesses of all sizes, processing more than 65 million transactions with US$6.5 billion in payment value annually. “Southeast Asia is a massively complex region, with Indonesia having 17,000 different islands alone—not to mention the region’s regulatory and technological challenges. Trying to build the businesses of tomorrow on yesterday's infrastructure is holding Southeast Asia’s businesses back,” said Moses Lo, CEO and Co-Founder. “This latest investment will enable Xendit to scale our digital payments infrastructure quickly and provide millions of small and medium-sized businesses across Southeast Asia with an on-ramp to the

Andersen Global Initiates Expansion Into Bermuda2.3.2021 17:30:00 EETPress release

Andersen Global establishes a presence in Bermuda through a Collaboration Agreement with Hamilton-based law firm Alexanders, Barristers & Attorneys, adding additional coverage to its global platform. Founded in 2005, Alexanders, Barristers & Attorneys is a law firm with a primary focus on corporate and trust laws. The firm provides services to corporate clients and high net worth individuals, which complements the U.S. member firm’s practice and the global organization’s ability to meet clients’ cross-border needs in Australia, Canada, Africa, the United Kingdom and globally through its member firms and collaborating firms. Additionally, the firm specializes in intellectual property registration and law, investment fund formation and law, insurance company formation and law, and admiralty and maritime law. “Our top priority is delivering best-in-class solutions to our clients locally and abroad, and our ability to do that has been and continues to be a key contributor to our firm’s suc

BORN Expands With Alkeon B2B Market Network Platform Transforming Commercial Models, Starting With the Trade Show Industry2.3.2021 17:12:00 EETPress release

BORN, announces the expansion of innovative B2B subsidiary Alkeon, the world's first global SaaS market-network combining content, community, and commerce to connect buyers and sellers through a best-in-class platform, powered by machine learning. The 2020 pandemic generated a tremendous and immediate need for companies of all categories to pivot at a moment’s notice, with over 10,000 global trade shows completely upended due to cancellations of physical events. BORN, a purpose driven lifestyle company dedicated to reimagining the discovery, transaction and connection of the B2B and B2C communities, found an opportune moment to quickly scale and enhance their technology solutions. The company formally established Alkeon, an enterprise dedicated to supporting the needs of companies who are adapting to the current and future landscapes and need the right partner to support them through the process. Combining aesthetic and function to create designed technology, Alkeon is a market-network

South Africa and France Lead the Way in Public and Private Sector Gender Diversity, Latest Research by Kearney Reveals2.3.2021 17:00:00 EETPress release

The latest ‘Gender Equality Report’ from Kearney has revealed progress in the representation of women in both public and private sectors, but the figures still don’t show parity. Ahead of International Women’s Day, the analysis provides insight into the progress of gender diversity in private and public sectors across nine countries – the United States, United Kingdom, Australia, India, France, Spain, Germany, South Africa and Singapore. The annual report revealed that France was number one for representation in the private sector with women comprising nearly 44% (43.8%) of board members on average, however only 2% of these women held top board positions. The UK (36%) and Australia (34%) also scored highly for representation of women on boards. The average for board level representation of women is 29.9% - not even one in three. % Female board level representation by country France 43.8% UK 36.0% Australia 34.0% Germany 32.5% Spain 29.8% US 29.8% South Africa 28.5% Singapore 17.3% Indi

beqom Announces beqom FlexFS, a Compensation Management Solution Dedicated to Financial Services2.3.2021 17:00:00 EETPress release

beqom, provider of cloud-based compensation management software, today announced the launch of beqom FlexFS, a solution designed specifically for the financial services (FS) industry. “Financial services compensation is unique,” says Vismay Gada, Head of North America and Global Financial Services at beqom. “First there is a broad spectrum of financial services companies—retail banking, investment banking, asset management, hedge funds, insurance, private equity, and so on. That means that rewards and deferred compensation structures have many specialized needs across the industry. And, companies in each segment have to deal with different regulations that impact compensation treatment, which has its own unique challenges. Our FS customers have come to us to help them address complex compensation requirements that are beyond the scope of what their core HR systems can handle.” “We usually see a lot of our FS companies use Excel or Access databases to augment the limitations of core HR

Kymeta and Blue Edge Global Strategic Partnership Delivers Real World SATCOM Field Training with Military Trained Specialists2.3.2021 17:00:00 EETPress release

Kymeta (www.kymetacorp.com), the communications company making mobile global, announced today a new premier training partnership with Blue Edge Global, a privately owned and operated, certified Service-Disabled Veteran Owned Small Business. The partnership is designed to provide instructor-led responsive training solutions for land, air, sea, and space domains where uninterrupted communications are required to enable high risk missions, first responder arrive-ready solutions and where natural or other disasters require immediate logistical support. Together, Kymeta and Blue Edge Global will offer downrange training with a team of military SATCOM specialists to the Department of Defense (DoD), Ministry of Defense (MoD) and Emergency Services teams globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210302005134/en/ Military specialist attends advanced SATCOM training. (Photo: Business Wire) The collaboration with Blue Ed

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom