Copley Equity Partners has made an investment in Spend Matters, a data platform. No financial terms were disclosed. JEGI Clarity was financial advisor to Spend Matters on the deal.
Boston, MA (December 9, 2021) — Copley Equity Partners, LLC (“Copley”), a private investment firm focused on lower middle-market companies with strong growth opportunities, today announced that it has made an investment in Spend Matters, a proprietary tech-enabled data platform that drives and optimizes the strategic technology procurement decisions across the global procurement, finance, and supply chain technology ecosystem.
Spend Matters Founder and CEO Jason Busch will continue to lead the firm and remains a substantial equity holder. All Spend Matters analysts and employees will remain with the firm, which is based in Chicago, IL.
Proceeds from the investment will optimize and expand Spend Matters’ offerings for private and public sector organizations, consultants, private equity, and services/solution providers.
“Copley Equity Partners’ investment in Spend Matters sets the stage for our next phase of growth by allowing us to scale within procurement while expanding into adjacent technology markets,” says Spend Matters Founder and CEO Jason Busch. “Copley’s resources and expertise will allow us to market and deploy our proprietary data platform into an array of technology markets, including accounts payable, B2B payments, supply chain analytics, ESG, and CSR.”
Spend Matters brings a unique data-driven approach to analyzing technology and solutions. The firm pioneered SolutionMap, a technology benchmarking methodology based equally on granular analyst technology assessments and customer reference inputs. In 2021, they launched TechMatch, the only SaaS application in the market that maps business requirements to technology vendor capability to drive accurate, data-based technology decision-making. TechMatch is used by Fortune 500 and Global 2000 firms, public sector organizations, and global consultancies to drive technology decision-making for procurement, accounts payable, contract management, and third-party management.
“Procurement technology has rapidly become a dominant area of SaaS investment for organizations of all sizes. Supply chain challenges, commodity inflation, and price volatility continue to elevate procurement into the boardroom and headlines,” says Peter Trovato, co-Founder and Managing Director, Copley Equity Partners. “Spend Matters’ market leadership and high growth combined with its unique data-driven, tech-enabled approach to analyzing technology are disrupting the existing analyst and market intelligence ecosystem. We are thrilled to partner with management to infuse capital and strategic knowledge to accelerate the growth of the business.”
“No competitor has the amount of actionable data and intelligence that Spend Matters has in this space across such a sphere of influence,” says Eleanor Bennett, Senior Associate, Copley Equity Partners. “Copley was especially impressed by Spend Matters’ ability to influence purchasing decisions at multiple levels in multiple markets, from day-to-day procurement all the way through an enterprise’s digital transformation. Whether it’s for sales and marketing, or product teams building best of breed solutions and go-to-market strategies, consulting firms that need fast answers to client questions, or for private equity firms in need of data-driven due diligence and benchmarking, Spend Matters can meet that need through a unique asset with global scalability.”
Spend Matters was advised by JEGI CLARITY (exclusive financial advisor) and Neal, Gerber & Eisenberg LLP (legal advisor). Copley Equity Partners was advised by David Graham & Stubbs LLP (legal advisor).