VANCOUVER, BC and SAN FRANCISCO, CA — Conexiom, a provider of cloud-based supply chain document automation software solutions, has announced 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 percent 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 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,” said 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.”
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.
"We are delighted to partner with Brent and the Conexiom team to support their continued growth and product innovation," said Hollie Hayes, Luminate founder and managing partner. "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."
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.