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
Summary
MENLO PARK, Calif.--(BUSINESS WIRE)--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. 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. 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. 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’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.