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

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

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

Veristat Congratulates Origin Biosciences for FDA Approval of Nulibry During the Week of Rare Disease Day 20218.3.2021 15:25:00 CETPress release

Veristat, a scientific-minded, global clinical research organization (CRO), today congratulated Origin Biosciences for their FDA approval of Nulibry (fosdenopterin) for injection as the first therapy to reduce the risk of mortality in patients with molybdenum cofactor deficiency (MoCD) Type A. This rare disease product received FDA approval on Friday, 26 February 2021, during the week when the world celebrated #RareDiseaseDay2021. Veristat’s biostatisticians, programmers, and medical writers collaborated with Origin Biosciences to support the New Drug Application (NDA) for Nulibry. The entire Veristat team is honored to know that the hard work and perseverance of the combined Origin/Veristat team brought new hope for children whose lives are shortened by the devastating disease MoCD Type A. “We thank the entire Veristat team who worked diligently to help us bring this critical therapy to patients with no other FDA-approved treatment options,” said Dr. Liza Squires, Origin Chief Medical

CBS News “Global Thought Leaders” Series Features Echosens: Video Showcases FibroScan ® as Medical Gold Standard8.3.2021 15:01:00 CETPress release

Echosens, a high-technology company offering the FibroScan® family of products, is pleased to announce that it has been chosen for the “Global Thought Leaders” series broadcast on CBS News. View a short video highlighting the Company’s groundbreaking work in the development of vital medical resources, including FibroScan®, a noninvasive solution for measuring liver elasticity and fat content of the liver at the point of care. “We’re pleased to be selected by CBS News and proud of the video created at our international headquarters in Paris which captures the essence of Echosens, including interviews with some of our top leaders and a clinician performing a FibroScan® exam with her patient,” says Dominique Legros, Group CEO, Echosens. “Reliable, accurate and affordable, FibroScan® is designed to address a growing liver disease epidemic. Nonalcoholic fatty liver disease (NAFLD) affects approximately 25% of the worldwide population and as many as 6% are affected by NASH, which is expected

Infor and C3 AI Form Strategic Partnership to Deliver Scalable Enterprise AI Industry Applications8.3.2021 15:00:00 CETPress release

C3 AI (NYSE: AI), a leading enterprise AI software provider, and Infor, an ERP technology cloud leader, today announced a wide-ranging strategic alliance designed to jointly expand enterprise-class artificial intelligence (AI) solutions across applicable industries to extend Infor’s native machine learning capabilities. This will allow Infor to explore expansion of its industry offerings into edge scenarios and analyze ways to provide deeper capabilities beyond standard Infor offerings. Infor plans to market, license, and deploy C3 AI prebuilt solutions to Infor customers under the Infor brand and to explore new solutions using the C3 AI® Suite. Infor and C3 AI expect to leverage both companies’ existing digital portfolios to collaborate on new integrated enterprise AI applications that can support specific industry needs. The initial focus will be on predictive maintenance surrounding Internet of Things (IoT) systems with the goal of providing a more proactive and accurate maintenance

Zynga Teams up with Girls Who Code to Help Raise Awareness and Support for Women in Tech8.3.2021 15:00:00 CETPress release

Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, today announced that it has teamed up with Girls Who Code in support of International Women’s Day 2021. With a mission to raise awareness and support for women in tech, Zynga has pledged $100,000 from its Social Impact Fund to enable Girls Who Code (GWC) to support girls at all points throughout their educational journey from 3rd grade into the workforce. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210308005082/en/ Zynga Teams up with Girls Who Code to Help Raise Awareness and Support for Women in Tech (Graphic: Business Wire) GWC is an international non-profit organization dedicated to closing the gender gap in technology. The organization has reached more than 300,000 girls in the US, Canada, UK, and India; 50 percent of girls served are Black, Latinx, or from low-income backgrounds. Through its free Clubs program, GWC reaches young women at the mo

NielsenIQ Establishes Independence as a Standalone Company8.3.2021 15:00:00 CETPress release

Today, NielsenIQ begins its next chapter as an independent company with the closing of its acquisition by Advent International in partnership with incoming Executive Chairman and CEO James “Jim” Peck. As a standalone business, NielsenIQ is better positioned to accelerate its transformation and strengthen its market-leading position. To move forward as a definitive leader in the FMCG industry and usher in a new era of technological advancements and innovation, three new leaders will join NielsenIQ. Mohit Kapoor joins as Chief Technology Officer, overseeing all aspects of technology. Steve Matthesen, a Nielsen veteran, joins as Chief Strategy Officer to help develop and execute the corporate strategy and other key initiatives. Curt Miller joins as Chief Transformation Officer to drive organizational alignment that supports NielsenIQ’s growth strategy. “NielsenIQ has a unique opportunity to become a nimble partner with the flexibility to increase strategic investments and innovation in th

Covetrus Announces Vice President of Global Talent Management8.3.2021 14:15:00 CETPress release

Covetrus (NASDAQ: CVET), a global leader in animal-health technology and services, today announced the addition of Stacey M.M. Shirra as vice president of global talent management. The newly created post is a strategic role designed to drive the Company’s acceleration of its three-year plan. Shirra is responsible for Covetrus’ global talent strategy including building a strong talent bench across the organization. As part of her role, she will focus on investing in and developing employees, and helping drive an innovative fast-moving culture. She is also responsible for leading the Company’s Diversity & Inclusion initiatives. “I am pleased to welcome Stacey to our global leadership team,” said Ditte Marstrand Wulf, Covetrus CHRO. “Our employees are our strength and the most important factor for our future success. The role that Stacey is stepping into is critical to the growth and health of our organization and business. We look forward to her contributions and strong leadership within

Abu Dhabi’s Technology Innovation Institute Appoints International Experts to Board of Advisors at Secure Systems Research Centre8.3.2021 14:07:00 CETPress release

Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today announced the appointment of international experts in the field of systems security to the Board of Advisors of its Secure Systems Research Centre (SSRC). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210308005482/en/ Dr Shreekant Thakkar, Chief Researcher, Secure Systems Research Centre (SSRC), Technology Innovation Institute (TII) (Photo: AETOSWire) Secure Systems Research Centre is one of the initial seven dedicated centres at TII and is among the few global centres of its kind to bring together experts to conduct groundbreaking research in the field of secure systems. The distinguished new Board have combined expertise in security and resilience relating to autonomous computing and will guide the efforts of the Centre’s research team in developing end-to-end solutions to protect cyber-phys