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Procurement performance vendor Per Angusta raises $3.8 million

09/17/2020 By

Cloud-based digital procurement platform Per Angusta announced a new $3.8 million investment on Thursday from Hi Inov Dentressangle, which includes Kreaxi and Pleiade Venture and financial support from Business Angels.

With the Series A investment, Per Angusta — headquartered in Lyon, France — will enter into a new developmental phase. The company said it will use the funds to accelerate its international deployment functions, expand its standing in the procurement performance management (PPM) technology category, and increase R&D to expand the solution’s functionality. It also plans to expand its workforce.

“Our solution is widely adopted because it provides functional depth while remaining very simple to use, connecting easily to our customers’ environment and complimenting their existing procurement solutions,” Per Angusta CEO Pierre Laprée said in a press release. “With more than 50% of our business already being conducted abroad, the additional funds will enable us to recruit additional talent, strengthen our product development efforts, and offer our customers a sustainable and scalable solution to support them in the development of their procurement organizations.”

In its press release, Per Angusta said it hopes to strengthen its international sales and customer support teams with the investment. The company already has teams in Northern Europe, the UK, Germany and North America, and it can leverage the funding to continue developing its partner network.

While many providers focus on transactional processes in procurement, Per Angusta tries to position procurement as a key player in companies’ profitability.

The platform aims to bridge the gap between finance and procurement departments. The solution centralizes its users’ contracts and supplier data to easily connect existing tools like e-sourcing or spend analysis, among others.

“We are thrilled to support Per Angusta in its development and new stage of growth,” Valère Rames, a partner at Hi Inov Dentressangle, said in the press release. “We were particularly impressed by the procurement expertise of the entire team. The other benefit is the strong customer buy-in for the software, which increases the performance and visibility of procurement activity within their organization.”

Per Angusta has over 100 global customers. The solution is used by SMEs, public sector players and large international groups. Its customers include Accor, Air France KLM, LVHM and Imperial Brands.

This year, Spend Matters recognized Per Angusta as a “50 to Know” company for its ability to work across systems. 

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