Data Platform Spend Matters Closes Investment Deal from Copley

Proprietary tech-enabled data platform Spend Matters closed an investment deal with private investment firm Copley Equity Partners for an unspecified amount, according to a press release on Friday (Dec. 10).

Copley Equity Partners, which focuses on lower middle-market companies with strong growth opportunities, backed Spend Matters in part due to its ability to affect purchasing decisions at multiple levels and markets, as well as its ability to optimize the strategic technology procurement decisions across the global procurement, finance and supply chain technology ecosystem.

See also: Widening Procurement’s Scope Of Vendor Risk Management

“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,” said 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,” Busch added.

Spend Matters uses a data-driven approach to analyzing technology and solutions. It pioneered SolutionMap, a “technology benchmarking methodology based equally on granular analyst technology assessments and customer reference inputs.”

Read more: Reducing Supply Chain ‘Fragmentation’ Helps Businesses Battle Payments Fraud

TechMatch, launched earlier this year, is the only software-as-a-service (SaaS) application in the market that coordinates business requirements and technology vendor capability. It is used by Fortune 500 and Global 2000 firms, public sector organizations and global consultancies.

The solution drives technology decision making for procurement, accounts payable, contract management and more, according to the release.

“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 at Copley Equity Partners.

Trovato added that Spend Matters is a market leader that is “disrupting the existing analyst and market intelligence ecosystem” with its one-of-a-kind “data-driven, tech-enabled approach to analyzing technology.”