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A key player in digital procurement transformation, Per Angusta, headquartered in Lyon, France, has just completed a new $3.8 million financing round with Hi Inov Dentressangle, which includes historical shareholders Kreaxi and Pleiade Venture and financial support from Business Angels. Supported by this Series A fundraising, Per Angusta is entering a new phase of development.
The main objectives include accelerating international deployment, legitimizing leadership in the Procurement Performance Management (PPM) segment, and intensifying R&D to broaden the functionality of the solution. Procurement digitalization has been underway for several years. Most solutions in this space are dedicated software that focus on transactional processes. However, while the majority of sales departments pilot their activity in their CRM, Sourcing & Procurement departments still use Excel to manage their negotiation activities and measure their performance. As a Procurement Performance Management SaaS solution, Per Angusta positions Procurement as a key player in the company's profitability.
Commercialized since 2014, Per Angusta has become a reference for finance teams to track procurement activities and performance, bridging the gap between finance and procurement departments. As a true open platform, the Per Angusta solution enables its users to centralize their contracts and supplier data, and easily connect their existing tools (e-sourcing, spend analysis, etc.), all available in one convenient solution. With a portfolio of more than 100 customers operating all over the world, the Per Angusta solution addresses the needs of all types of organizations, including SMEs, public sector players, and large international groups. Leading international companies such as Accor, Air France KLM, LVMH and Imperial Brands utilize Per Angusta every day to structure their activities and increase collaboration and transparency with their stakeholders and finance departments.
Pierre Laprée, Per Angusta CEO and Founder says: “Our solution is widely adopted because it provides functional depth while remaining very simple to use, connecting easily to our customers' environment, and complementing their existing procurement solutions. With more than 50 % of our business already being conducted abroad, the additional funds will enable us to recruit additional talent, strengthen our product development efforts, and offer our customers a sustainable and scalable solution to support them in the development of their procurement organizations”.
Valère Rames, Partner at HI INOV DENTRESSANGLE adds: “We are thrilled to support Per Angusta in its development and new stage of growth. We were particularly impressed by the procurement expertise of the entire team. The other benefit is the strong customer buy-in for the software, which increases the performance and visibility of procurement activity within their organization”.
In order to accelerate its growth and legitimize its position as the primary platform for buyers, Per Angusta wants to strengthen its international sales and customer support teams. With dedicated teams in Northern Europe, the United Kingdom, Germany and North America, Per Angusta will be closer to its existing customers located in these regions and will continue to develop its partner network. The company aims to double its workforce by the end of 2021. Per Angusta was advised by JMGA and Ascentum Consulting. Hi Inov Dentressangle has been advised by Jone's Day and D'Ornano and Associates.