What’s behind the investment in Globality’s services sourcing solution?

Globality provides a procurement technology solution that uses AI to enable organizations to source complex services across multiple categories. At organizations across all industry verticals, services comprise, on average, 50%-60% of external spend. Most of these services categories are not well or comprehensively managed, and purpose-built technology solutions have been scarce.

Globality recently completed a $138 million Series E round from Sienna Capital, a wholly owned subsidiary of Groupe Bruxelles Lambert, and Softbank Vision Fund, bringing the company’s total funding to $310 million since its inception in 2015. This funding will support the company’s continued growth, including go-to-market and client-facing activities and, of course, product development, including user experience design (UX), industry vertical expansion, spend category additions, internationalization, etc.

To understand what is driving this investment, it is helpful to look back and examine Globality’s development as a business and its strategic momentum over the past 1-2 years. We were able to catch-up with Globality’s Chief Revenue Officer, Keith Hausmann and review what’s been happening at Globality and where it is headed.