What is Corcentric?
Founded in 1996 and headquartered in Cherry Hill, New Jersey, Corcentric specializes in offering comprehensive solutions for procurement, accounts payable automation, and billing. The company's suite of services includes capital equipment procurement, indirect and fleet procurement management, and advanced warehouse management solutions. Corcentric aims to streamline financial operations for its clients, enhancing efficiency and reducing costs through its technology-driven platform. The company's focus on automating critical business processes positions it as a key player in the enterprise software and financial services market.
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
Bank of America
Bank of America is a global financial institution providing comprehensive banking and financial services, including commercial lending and capital markets products, serving diverse clients worldwide.
JPMorgan Chase
JPMorgan Chase is a leading global financial services firm offering investment banking, commercial banking, and financial transaction processing services.
Bregal Sagemount
Bregal Sagemount is a private equity firm specializing in growth capital and middle-market financing for companies.
What's next for Corcentric?
The recent major strategic investment of $315M signals Corcentric's intent to accelerate its growth and potentially expand its market reach. This capital infusion is likely to be directed towards enhancing its product development, scaling its sales and marketing efforts, and possibly pursuing strategic acquisitions. Given the enterprise-level nature of its funding, Corcentric appears poised for significant expansion, aiming to solidify its leadership in procurement and financial process automation. The company's trajectory suggests a focus on further innovation and market penetration within the B2B financial technology landscape.
See full Corcentric company page
