PeakEquity Partners’ fourth software investment; over $250 million of fund & co-investor equity invested since inception
Radnor, PA – Xeeva, Inc. (“Xeeva” or the “Company”), a global provider of intelligent procurement and sourcing software, announced today an investment of more than $40 million led by PeakEquity Partners I, L.P.
“It’s an exciting time to be at Xeeva! We’ve come a long way,” said Dilip Dubey, CEO and Founder of Xeeva. “This investment is both a testament to our team members and all the hard work it’s taken to get the company to where it is today, as well as a confirmation of our bright future ahead. This is an amazing milestone for us! I truly look forward to everything the next chapter has to offer.”
Since its inception in 2014, Xeeva has remained focused on providing sustainable results and massive savings to its customers through its procurement and sourcing software. It does this with the help of the patented artificial intelligence that powers its full suite software. With solution offerings for visibility, sourcing, procurement, and supplier results, the software simplifies the source-to-settle process. It assists its users by cleansing and categorizing spend data, automating buying tasks, picking the best supplier, and identifying opportunities to save.
This funding comes at a key time to accelerate Xeeva’s growth and open new doors for the company. It amplifies their ability to disrupt how organizations manage spend. Xeeva is excited to partner with a firm that is equally as passionate about changing the future of procurement.
“Xeeva has developed a differentiated solution that delivers hard ROI to its customers through quick spend visibility and real savings to the bottom line,” said Paul Winn, Co-Founder and Partner of PeakEquity Partners. “This investment will enable the Company to accelerate their growth in the attractive e-procurement market.”
Justin Reger, Principal of PeakEquity Partners, added “Our key investment focus is to partner with management teams who have developed products with sustainable differentiation in growing markets and we believe the Xeeva team has established an attractive competitive position that our investment and operating network can accelerate. Xeeva is led by an experienced and visionary Founder and CEO whom we are excited to support in the company’s next stage of growth.”
Xeeva plans to utilize the significant funds raised to grow their company in multiple areas, including further enhancing their product suite, accelerating sales and marketing efforts, and elevating the Xeeva brand to new levels.
“Partnering with PeakEquity Partners will help us on the journey to achieve our goals,” stated Xeeva CEO, Dilip. “I am enthusiastic and motivated about working with them as I believe they offer experience that will be greatly valuable. Their market-tested combination of strategic, operational, and financial background in scaling software companies, along with their best practices programs and operating executive network, will be useful as we continue to build Xeeva.”
The Xeeva transaction represents PeakEquity Partner’s fourth subscription-based, recurring revenue software investment. Since inception, PeakEquity Partners has invested over $250 million on behalf of PeakEquity Partners I, L.P. and its co-investors.