What is Corcentric?
Founded in 1996 and headquartered in Cherry Hill, New Jersey, Corcentric operates as a critical provider of procurement, accounts payable, and billing solutions. The company specializes in optimizing the financial workflows of large enterprises by offering comprehensive tools for capital equipment management, indirect and fleet procurement, and warehouse management. By integrating advanced automation into traditional procurement processes, Corcentric enables organizations to achieve greater visibility and efficiency in their financial operations. Its market position is defined by its ability to bridge the gap between complex procurement needs and modern digital billing requirements, serving as a vital partner for businesses seeking to modernize their back-office functions.
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 JPMorgan Chase, Bank of America, and TCW Asset Management Company
Private Equity (2020): $80M led by Bregal Sagemount
Debt (2023): $315M supported by Bank of America, The TCW Group, and JPMorgan Chase
Key Investors in Corcentric
Bank of America
A global financial institution providing comprehensive banking and financial services, including commercial lending and treasury services for large corporations.
JPMorgan Chase
A leading global financial services firm offering investment banking, asset management, and financial transaction processing for institutional clients.
Bregal Sagemount
A private equity and venture capital firm specializing in growth capital, middle-market financing, and strategic turnarounds.
What's next for Corcentric?
Looking ahead, Corcentric is poised to leverage its recent capital influx to accelerate product innovation and deepen its market penetration. The strategic focus will likely center on enhancing its proprietary automation platforms to meet the evolving demands of global supply chains. As the company transitions through its current lifecycle stage, the emphasis remains on scaling its enterprise-level offerings while maintaining the operational rigor required to support its diverse client base. By prioritizing technological advancement and strategic partnerships, Corcentric is set to solidify its role as a leader in the procurement and financial technology space, ensuring long-term value creation for its stakeholders.
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