Xeeva Raises Over $40M in Funding

Xeeva, Inc., a Madison Haights, Mich.-based global provider of intelligent procurement and sourcing software, raised over $40M in funding.The round was led by PeakEquity Partners I, L.P.The company intends to use the funds to grow in multiple areas, including further enhancing their product suite, accelerating sales and marketing efforts, and elevating the brand to new levels.Founded in 2014 by Dilip Dubey, CEO, Xeeva is a global provider of intelligent cloud-based procurement software and financial solutions for indirect spend and MRO.Used in over 45 countries and available in 18 languages, the software suite automates the source-to-pay process with open communication for e-invoicing, procurement, and sourcing.