What is Corcentric?
Founded in 1996 and headquartered in Cherry Hill, New Jersey, Corcentric operates as a critical infrastructure provider for enterprise-level procurement, accounts payable, and billing solutions. The firm specializes in optimizing complex supply chain workflows, offering comprehensive services that span capital equipment procurement, indirect and fleet management, and sophisticated warehouse management systems. By integrating accounts payable automation into its core service offering, Corcentric enables organizations to streamline financial operations, reduce overhead, and enhance visibility across their procurement lifecycles. Its market position is defined by a commitment to digital transformation, helping large-scale enterprises navigate the complexities of modern financial management through scalable, technology-driven solutions.
How much funding has Corcentric raised?
Corcentric has raised a total of $595M across 3 funding rounds:
Debt
$200M
Private Equity
$80M
Debt
$315M
Debt (2018): $200M with participation from Bank of America, JPMorgan Chase, and TCW Asset Management Company
Private Equity (2020): $80M led by Bregal Sagemount
Debt (2023): $315M supported by JPMorgan Chase, Bank of America, and The TCW Group
Key Investors in Corcentric
JPMorgan Chase
A leading global financial services firm providing comprehensive investment banking, commercial banking, and asset management solutions to a diverse international client base.
Bank of America
A global financial institution offering a wide range of banking, investment, and risk management services to corporations, governments, and institutional clients.
Bregal Sagemount
A private equity firm specializing in growth capital and middle-market investments, focusing on supporting mature companies through strategic financial backing.
What's next for Corcentric?
With the recent influx of capital, Corcentric is well-positioned to accelerate its product development roadmap and expand its footprint in the competitive B2B fintech market. The strategic focus will likely center on enhancing its automation capabilities and deepening its integration with existing enterprise resource planning systems. As the company moves beyond its established base, the emphasis will remain on scaling its procurement and billing platforms to meet the evolving demands of global supply chains. By maintaining strong relationships with major financial institutions, Corcentric is poised to leverage its current momentum to drive further innovation in financial process optimization, ensuring it remains a preferred partner for enterprises seeking to modernize their back-office operations.
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