Conexiom, a Vancouver-based provider of document automation software solutions, has secured an investment from Luminate Capital Partners, a U.S. enterprise software private equity firm. No financial terms were released. As a result, Luminate’s Hollie Haynes, Mark Pierce, Scott Kingsfield, David Ulrich and Sanjay Palakshappa will join the board. Founded in 2001, Conexiom’s cloud-based technology automates the processing of purchase orders, supplier invoices and other key business documents. President and CEO Brent Halverson said the deal will help Conexiom continue to grow in manufacturing and distribution, expand geographically, and enter new verticals.
Conexiom and Luminate Capital Partners Announce Strategic Growth Investment
Partnership to Advance Growth Strategy and Further Strengthen Market Position
March 14, 2018
VANCOUVER, British Columbia & SAN FRANCISCO–(BUSINESS WIRE)–Conexiom, the leading provider of cloud-based supply chain document automation software solutions, announced today that Luminate Capital Partners has invested in the company in support of its global growth strategy.
Conexiom’s software automates the processing of supply chain documents with 100% accuracy. Customer service and inside sales teams rely on Conexiom to capture purchase orders, pricing agreements, invoices and other key documents, and transform them into an electronic format that can be delivered directly into their organization’s ERP system, eliminating manual entry. Leading enterprises, including 10 of the top 25 distributors in North America, have chosen Conexiom to optimize their supply chain processes, enabling them to provide industry leading customer service and focus internal resources on value generating activities.
“We have driven our success to date by focusing on the North American wholesale distribution and manufacturing markets,” says Brent Halverson, CEO of Conexiom. “With a partner like Luminate Capital, we can now more quickly drive customer adoption in the manufacturing and distribution markets, expand geographically, and move into other verticals with similar business profiles. Luminate’s deep experience partnering with leading software companies to drive growth will be invaluable as we continue to scale.”
“We are delighted to partner with Brent and the Conexiom team to support their continued growth and product innovation. Conexiom provides a mission critical solution used by industry leading organizations to eliminate labor intensive and error prone supply chain processes. We believe there is an immense market opportunity for this solution,” says Hollie Haynes, Founder and Managing Partner at Luminate.
In connection with the investment, Hollie Haynes, Mark Pierce, Scott Kingsfield, David Ulrich, and Sanjay Palakshappa from Luminate will join Conexiom’s Board of Directors.
Financial terms of the transaction were not disclosed. Kirkland & Ellis, LLP and Blake, Cassels & Graydon LLP served as legal advisors to Luminate. Conexiom was advised by DCS Advisory and Harper Grey LLP.
Conexiom revolutionizes critical sales and accounting business practices by automating manual data entry with 100% accuracy. Conexiom fully automates the processing of purchase orders, supplier invoices and other key documents enabling companies to focus on driving growth, serving customers and managing supplier relationships instead of manually entering data. For more information, visit conexiom.com
About Luminate Capital Partners
Luminate Capital Partners is a private equity firm focused on making investments in enterprise software companies. Luminate partners with management teams to provide flexible capital to drive strategy, growth and operational improvements. For more information, visit www.luminatecapital.com
Angel Huang, 778-968-5798
For Luminate Capital:
Chris Tofalli, 914-834-4334
Chris Tofalli Public Relations
Photo courtesy of Conexiom