Conexiom Funding, Investors & Competitors

Conexiom has raised $170M across 2 funding rounds, most recently a $130M undisclosed-stage round in September 2021.

Last Conexiom funding round

$130M

Undisclosed stage · Sep 2021

Cumulative funding Conexiom raised

$170M

across 2 funding rounds

Key investors in Conexiom

  • Warburg Pincus
  • ICONIQ Capital

Conexiom Overview

About Conexiom

Conexiom is a platform automating EDI for sales orders and AP invoices between manufacturers, distributors, and their trading partners. Vancouver-headquartered and founded in 2005, it processes documents in formats like EDI 850 and 810, reducing manual entry errors. The company serves North American supply chains in consumer goods and industrial sectors with cloud-based integration.


Founded

2005

HQ

CanadaVancouver

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Conexiom Funding History

Conexiom has raised a total of $170M across 2 funding rounds.

Conexiom's first fundraising round was a $40M undisclosed-stage round in July 2020. The most recent completed round was a $130M undisclosed-stage round in September 2021.

Conexiom funding rounds

Conexiom funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2021Undisclosed stageWarburg Pincus (lead)$130MConexiom, a SaaS provider of sales order and invoice automation solutions founded in 2005 as ecMarket, announced a $130 million growth investment from Warburg Pincus on September 28, 2021. Warburg Pincus joined existing investors Luminate Capital, which retained a majority stake after acquiring control in February 2018, and ICONIQ Growth, which invested $40 million in 2020. The funding aims to accelerate product development to meet growing market demand for B2B automation, helping customers automate order-to-cash and procure-to-pay processes with touchless order processing and 100% data accuracy. The platform processes over $100 billion in B2B transactions annually. Since Luminate's 2018 investment, Conexiom grew over six times in size, achieving record 65% year-over-year growth through H1 2021 and its best quarter in Q2 2021 with over 50 new customers added. Luminate had conviction in the early stages of B2B automation, positioning Conexiom as a market leader solving key problems for customers of all sizes. The investment underscores Warburg Pincus's commitment to market-leading B2B software businesses amid rising demand for SaaS systems. Conexiom, headquartered in Vancouver with offices in Chicago, Kitchener, and London, England, enables modern businesses to redeploy resources for greater profitability, faster order cycles, and on-time delivery. Leaders like CEO Ray Grady and Chairman Mark Pierce highlighted the platform's mission-critical role and potential for expansion.
Jul 2020Undisclosed stageICONIQ Capital (lead)$40MConexiom, a Vancouver-based SaaS provider of sales order and invoice automation solutions using AI and machine learning, raised $40 million in strategic growth financing on July 28, 2020, from ICONIQ Capital, with existing investor Luminate Capital retaining a majority stake. The funding followed 70% year-over-year growth and aimed to accelerate platform development, invest in machine learning and AI, expand to other business processes, and grow internationally. The company reported processing over $100 billion in annual B2B spend across 22 million transactions at the time. CEO Ray Grady highlighted the role of COVID-19 in accelerating demand for digital business processes, positioning Conexiom to help customers achieve touchless order processing, improve revenue capture, and enhance customer service. ICONIQ Vice President Roy Luo noted customer transformations with rapid ROI, often in 30 days. The round built on prior investments, including Luminate's 2018 majority stake acquisition. Post-round traction included 74% YoY growth reported later, with new customers like Chevron and Bunzl added in 2020. This $40M investment preceded larger rounds, such as a $130M growth investment from Warburg Pincus (with ICONIQ and Luminate participation) and team doubling in 2020.

Who has invested in Conexiom?

2 investors have backed Conexiom across its funding rounds, including Warburg Pincus and ICONIQ Capital.

Lead investors include Warburg Pincus and ICONIQ Capital.


Conexiom Investors

Investors in Conexiom by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 2 Conexiom investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Conexiom Competitors

Conexiom competitors include listed companies like Wuchan Zhongda Group Co, Manhattan Associates, Descartes Systems Group and Ingram Micro, and private ones like Praktis and Meicai.

Public and private companies comparable to Conexiom
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Wuchan Zhongda Group CoChinaChinaPublicly listed$89B$1.5B$3.8B0.1x
PraktisIndonesiaBandungPrivate--$200M-
Manhattan AssociatesUnited StatesUnited StatesPublicly listed$1.1B$288M$12B10.6x
MeicaiChinaBeijingPrivate--$7B-
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$6.8B8.1x
Ingram MicroUnited StatesUnited StatesPublicly listed$53B$1.1B$6.3B0.2x

Conexiom Public Comps

Conexiom is still privately-owned, but its public comps include Aramark, Manhattan Associates, Madison Air, Rentokil Initial, Sodexo, ISS World, Descartes Systems Group, Ingram Micro, Elis and Brookfield Business Corp.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Aramark$19B$1.2B1.1x1.0x16.8x13.4x
Manhattan Associates$1.1B$288M11.2x10.6x42.2x29.7x
Madison Air$3.5B$697M4.2x3.9x21.1x14.6x
Rentokil Initial$6.9B$1.2B2.1x2.1x12.6x9.7x
Sodexo$28B$1.7B0.5x0.5x8.4x9.7x
ISS World$13B$837M0.7x0.7x11.1x9.7x
Descartes Systems Group$729M$305M8.8x8.1x21.1x17.7x
Ingram Micro$53B$1.1B0.2x0.2x8.7x6.6x

This data is available for Pro users. Sign up to see all Conexiom competitors and their valuation data.

Start Free Trial

Common questions about Conexiom

When was Conexiom founded?Conexiom was founded in 2005.
Where is Conexiom headquartered?Conexiom is headquartered in Vancouver, Canada.
Is Conexiom publicly listed?No, Conexiom is a private, VC-backed company.
How much funding has Conexiom raised?Conexiom has raised $170M across 2 funding rounds.
What was Conexiom's last funding round?Conexiom's last funding round was a $130M undisclosed-stage round in September 2021, led by Warburg Pincus.
Who are Conexiom's investors?Conexiom's investors include ICONIQ Capital and Warburg Pincus.
Which companies are comparable to Conexiom?Companies comparable to Conexiom include Wuchan Zhongda Group Co, Praktis, Manhattan Associates, Meicai, Descartes Systems Group and Ingram Micro.

See companies similar to Conexiom

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial