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- Ivalua
Ivalua Acquisition, Valuation, Funding & Investors
Ivalua was acquired by Hg in December 2024.
Ivalua acquisition price
Undisclosed
Acquired by Hg · Dec 2024
Ivalua revenue
$100M
Undisclosed stage · May 2019
Cumulative funding Ivalua raised
$130M
across 2 funding rounds
Key investors in Ivalua
Tiger Global
KKR
Ardian
About Ivalua
Ivalua is a French and US provider of cloud-based source-to-pay and spend-management software, offering a unified platform covering sourcing, procurement, supplier management, and accounts payable. The company serves several hundred large enterprises, including Volkswagen, Booking.com, and Credit Agricole, managing hundreds of billions of dollars in direct and indirect spend. Ivalua has grown its capabilities through acquisitions such as Directworks, a supplier-management and direct-materials specialist for manufacturers, and maintains offices in Redwood City, California and Paris, France.
Founded
2000
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (May 2019)
Valuation
$1B (May 2019)
Ivalua Acquisition
Ivalua was acquired by Hg for an undisclosed price on 1 December 2024.
Before the acquisition Ivalua had raised $130M across 2 funding rounds.
Hg completed an investment in Ivalua, the French and US provider of cloud source-to-pay and spend management software, through its Genesis 10 fund. Ivalua's unified platform serves several hundred large enterprises including Volkswagen, Booking.com and Credit Agricole across sourcing, procurement, supplier management and accounts payable. Terms of the transaction were not disclosed.
| Acquirer | Date | Type |
|---|---|---|
| 1 Dec 2024 | PE buyout |
Sources: hgcapital.com, mccapitalpartners.net
Ivalua Valuation
Ivalua is currently valued at $1B, based on its undisclosed-stage round in May 2019.
The $60M round was led by Ardian and Tiger Global.
Ivalua valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2019 | Undisclosed stage | $1B | 10.0x |
Ivalua Revenue
Ivalua's latest recorded revenue is $100M, as of its undisclosed-stage round in May 2019. At a $1B valuation, that implies a 10.0x revenue multiple.
Ivalua revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2019 | $100M | $1B | 10.0x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Ivalua Funding History
Ivalua has raised a total of $130M across 2 funding rounds.
Ivalua's first fundraising round was a $70M undisclosed-stage round in April 2017. The most recent completed round was a $60M undisclosed-stage round in May 2019.
Ivalua funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2019 | Undisclosed stage | Ardian (lead); Tiger Global (lead) | $60M | $1B | Ivalua, a leading provider of global Spend Management cloud solutions and source-to-pay procurement suite, raised $60 million in growth equity funding on May 21, 2019, from Tiger Global Management (new investor) and Ardian Growth (early investor increasing stake), achieving unicorn status with a $1 billion valuation. Existing shareholders include founders, KKR, and Ardian, with management retaining majority control for long-term focus. The funding supports product innovation, global expansion, and potential strategic acquisitions. Ivalua was on pace to exceed $100 million in annual revenue in 2019, while maintaining profitability, and manages over $500 billion in direct and indirect spend for more than 300 leading companies worldwide. Positioned in the $20 billion+ spend management market, Ivalua is noted for rapid growth, 161 product upgrades, and capabilities warranting greater global recognition. Ardian has backed Ivalua since 2011, viewing it as a future leader; the round established U.S.-style governance. |
| Apr 2017 | Undisclosed stage | KKR (lead) | $70M | - | Ivalua, a spend management software company with headquarters in Redwood City, California, and Paris, France, raised $70 million in growth equity minority funding from KKR on April 26, 2017. The investment, one of France's largest growth equity rounds at the time, was led by KKR's Next Generation Technology fund and positioned KKR as a new shareholder alongside founders and existing investor Ardian, which had invested €3 million in 2011. The funding aimed to accelerate Ivalua's expansion in the $24.5 billion spend management software market, supporting software development, international growth in Europe, the US, and Asia, and leveraging KKR's portfolio of over 120 companies for business connections. Ivalua's cloud-based Source-to-Pay (S2P) platform provides integrated modules for procurement, sourcing, spend analysis, supplier management, contracts, and analytics to streamline corporate spending, prevent rogue expenditures, and ensure compliance. The company served over 250 blue-chip clients including Honeywell, City of New York, Deutsche Telekom, Orange, and Michelin, managing more than $500 billion in spend. Recognized as a Leader in Gartner's 2017 Magic Quadrant for Strategic Sourcing Application Suites and a Value and Customer Leader in Spend Matters' eProcurement SolutionMap, Ivalua emphasized its out-of-the-box deep functionality, configurability, fast deployment, high adoption rates, and top client retention. The market was shifting from niche on-premise ERP-linked solutions to flexible full-suite cloud providers like Ivalua, amid transformation in spend management software. KKR highlighted Ivalua's strong product differentiation and global ambitions, drawing parallels to prior French tech investments like Fotolia, OVH, and Captain Train. |
Who has invested in Ivalua?
3 investors have backed Ivalua across its funding rounds, including Tiger Global, KKR and Ardian.
Lead investors include Ardian, Tiger Global and KKR.
Ivalua Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Apr 2017 | ||
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Start Free TrialAcquisitions by Ivalua
Ivalua has acquired 1 company to date.
Last acquisition by Ivalua was on October 27th 2017. Ivalua acquired Directworks for undisclosed valuation.
Latest Acquisitions by Ivalua
| Description | Directworks is a Malvern, Pennsylvania-based provider of supply chain management software for global manufacturers. The platform enables secure supplier collaboration on product design documents, streamlined quote analysis, and sourcing decisions for direct materials. It integrates with ERP systems like SAP and Oracle, serving industries such as automotive, aerospace, and consumer goods. Directworks powers sourcing processes for companies including Boeing and Johnson & Johnson, facilitating cost optimization and supplier performance tracking across international networks. |
| HQ Country | |
| HQ City | Pittsburgh, PA |
| Deal Date | 27 Oct 2017 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Ivalua acquisitions and their M&A valuation multiples. Start Free Trial | |
Ivalua Competitors
Ivalua competitors include listed companies like Arab Sea and Infomart, and private ones like Xforceplus, Enable, 51 Credit Card Manager and Altana.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Publicly listed | $14M | ($608K) | $97M | - | ||
| Private | - | - | $1.1B | - | ||
| Private | $15M | - | $1B | 66.7x | ||
| Private | - | $564M | $1B | - | ||
| Publicly listed | $121M | $31M | $1.2B | 8.6x |
Ivalua Public Comps
Ivalua is no longer listed, but its public comps include GuoChuang Software, Fujian Boss Software, Infomart, 74Software, New Trend International Logis-Tech, Teamshares, Freee, Huitongda Network, KSEC Intelligent Technooogy and Miroku Jyoho Service.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $220M | ($17M) | 4.8x | - | (60.4x) | - | |||
| $299M | $40M | 2.8x | 2.9x | 21.1x | 21.0x | |||
| $121M | $31M | 9.3x | 8.6x | 35.9x | 31.7x | |||
| $814M | $112M | 1.9x | 1.8x | 13.7x | 9.8x | |||
| $352M | $42M | 1.4x | - | 11.9x | - | |||
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
| $7.8B | $112M | 0.0x | 0.0x | 0.3x | 0.3x | |||
This data is available for Pro users. Sign up to see all Ivalua competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ivalua
| When was Ivalua founded? | Ivalua was founded in 2000. |
| Where is Ivalua headquartered? | Ivalua is headquartered in France. |
| Is Ivalua publicly listed? | No, Ivalua was acquired by Hg in December 2024. |
| Who acquired Ivalua? | Ivalua was acquired by Hg in December 2024. |
| What is Ivalua's valuation? | Ivalua was last valued at $1B in its undisclosed-stage round in May 2019. |
| How much funding has Ivalua raised? | Ivalua has raised $130M across 2 funding rounds. |
| What was Ivalua's last funding round? | Ivalua's last funding round was a $60M undisclosed-stage round in May 2019, led by Ardian and Tiger Global. |
| Who are Ivalua's investors? | Ivalua's investors include KKR, Ardian and Tiger Global. |
| What is Ivalua's revenue? | Ivalua's latest recorded revenue is $100M (May 2019). |
| What is Ivalua's revenue multiple? | Ivalua's latest valuation implies a 10.0x revenue multiple ($1B valuation on $100M of revenue). |
| Which companies are comparable to Ivalua? | Companies comparable to Ivalua include Xforceplus, Arab Sea, Enable, 51 Credit Card Manager, Altana and Infomart. |
| How many companies has Ivalua acquired? | Ivalua has acquired 1 company, including Directworks. |
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