Unimarket, a global technology provider of spend management and e-procurement solutions, today announced its merger with VendorPanel, a source-to-contract procurement platform. The merger combines the strengths of both companies to deliver a more robust source-to-pay solution, optimizing business processes and delivering tangible business outcomes for customers worldwide. Unimarket is backed by Accel-KKR, a technology-focused investment firm.
According to Spend Network, global procurement is estimated to be $13 trillion USD annually, highlighting the critical need for optimization. This substantial spending underscores the critical role procurement optimization plays in improving efficiency and cost management for global businesses. Organizations are increasingly turning to digital solutions to improve visibility and control over their procurement processes, underscoring the significance of this merger between Unimarket and VendorPanel.
The combined company now serves nearly 450 customers across the United States, Australia, New Zealand, and Canada, in sectors such as corporate, education, healthcare, government, energy, facility management, transport, and utilities.
“Both companies bring over 15 years of expertise and a proven track record of delivering exceptional results,” said Phil Kenney, CEO of Unimarket. “This merger strengthens Unimarket’s ability to meet the evolving needs of our global customers, offering scalable solutions that capitalize on growing market opportunities.
“Our merger with Unimarket provides an incredible opportunity to deliver even more value to our customers,” said James Leathem, CEO of VendorPanel. “Our combined platform delivers a comprehensive solution that enhances visibility and drives operational performance across the entire source-to-pay process.”
“This strategic merger marks a significant milestone for both Unimarket and VendorPanel, reinforcing their leadership in the procurement technology space,” said Phil Cunningham, Managing Director at Accel-KKR. “With their combined capabilities, these two companies are now poised to capitalize on global growth opportunities, delivering unmatched value to their customers while driving innovation and performance improvements across the source-to-pay ecosystem.”
Marks Baughan acted as exclusive financial advisor to VendorPanel.
For more information on this transaction, please contact:
Chris Rose
+1 610.616.3298
crose@marbau.com
Ashwini Gautam
+1 415.535.4858
agautam@marbau.com
Mike Doulong
+1 610.643.4618
mdoulong@marbau.com
Bryce Mangene
+1 610.365.7283
bmangene@marbau.com
About Marks Baughan Securities
Marks Baughan provides investment banking services to growth companies. Our clients are software, technology-enabled services and data-intensive companies seeking shareholder liquidity or growth capital. We work tirelessly alongside our clients and excel at defensible positioning and disciplined processes that maximize shareholder value. Our professionals come from senior positions at bulge-bracket firms, giving our clients access to the relationships and experience that come from our years of interaction with the top executives and investors in companies in our fields. Our clients receive top-flight advice throughout any advisory relationship, because our boutique approach allows our senior advisors to stay deeply involved with each client on a continuous basis. No handoffs to junior staff. No preferential client relationships. No conflicts of interest.
For additional information on Marks Baughan, see www.marksbaughan.com.
About VendorPanel
VendorPanel is a leading source-to-contract procurement platform. Its cloud-based software is used by hundreds of governments and businesses to simplify procurement, reduce risk, and optimize outcomes at each stage of the procurement lifecycle. For more information, visit VendorPanel.com.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.
About Unimarket
Unimarket is a global provider of source-to-pay and spend management solutions. Turning chaos into clarity, Unimarket’s comprehensive spend management suite significantly improves visibility, enables compliance, and eliminates maverick spending, transforming the source-to-pay processes of global organizations.
Recognized for its industry-leading customer support, Unimarket’s easy-to-use cloud-based solution connects an extensive catalog-driven supplier marketplace with sourcing, purchasing, contracts, invoice management and payments — all in one integrated spend management platform.
Founded in 2005, Unimarket is trusted by organizations from a diverse range of industries, including higher education, healthcare, government, research, and financial services. For more information visit Unimarket.com.