RESEARCH TRIANGLE PARK, N.C., July 08, 2019 (GLOBE NEWSWIRE) -- JAGGAER, the world’s largest independent spend management company, today announces a significant investment by international private equity company Cinven. JAGGAER has nearly tripled in size in the past three years after being taken private by Accel-KKR and plans to continue on its strong growth path. To date, Cinven has raised Funds totaling €37 billion and has invested in 135 companies across Europe and in North America.
Cinven will support JAGGAER’s management and operations with plans to increase assets and capabilities around the industry’s most comprehensive spend management suite: the JAGGAER ONE Platform.
“Cinven is excited to have the opportunity to invest behind the outstanding JAGGAER team. As a growing and profitable spend management software business with a very strong track record, and following a number of successful acquisitions, the business is poised for continued significant growth,” says Chris Good, Partner and Co-Head of Cinven’s TMT team.
“Cinven intends to support JAGGAER management’s ambitions to drive growth through investment in R&D, building on market-leading products, such as the recently launched JAGGAER ONE platform, as well as making further acquisitions in the future,” he adds.
“Cinven is a natural partner to enable JAGGAER’s full potential. Its strategy is fully aligned with our strategic growth plans and the team brings considerable expertise in facilitating our global footprint and propelling our upward progress both organically and through acquisition. We will continue to focus on serving our customers and engaging our staff and partners as we execute the JAGGAER ONE roadmap,” says Robert Bonavito, CEO, JAGGAER.
In three years JAGGAER has rapidly penetrated multiple targeted verticals and has been frequently cited as a leader in several significant analyst rankings for Procure to Pay and Strategic Sourcing capabilities. The company recently launched the industry’s most robust integrated spend management platform, JAGGAER ONE, leveraging Machine Learning and Artificial Intelligence capabilities, built around the world’s most comprehensive network of 4 million suppliers, designed to simplify the procurement process for all existing and potential customers.
JAGGAER’s REV2019 happens October 1-3, 2019 at the Sheraton San Diego Hotel and Marina in San Diego, CA. REV2019’s central theme is “Educate – Innovate – Accelerate,” and is an expression of the company’s vision of enabling customers to achieve their business goals through effective application of tools designed to simplify procurement for any enterprise.
For more information on REV2019
JAGGAER is the world’s largest independent spend management company, with over 2000 customers connected to a network of 4 million suppliers in 70 countries, served by offices located in the Americas, APAC, Asia and EMEA. JAGGAER offers complete SaaS-based Source to Pay eProcurement solutions with advanced Spend Analytics, Sourcing, Supplier Management, Contract Lifecycle Management, Savings Tracking, and intelligent workflow capabilities all on a single platform, JAGGAER ONE. JAGGAER has pioneered spend solutions for over two decades and continues to lead the innovation curve by listening to customers and stakeholders in all industry sectors, public services and academia. Additionally, JAGGAER holds 37 patents–more than any other spend management company.
MEDIA CONTACT: Steve Lundin