Ivalua, a Redwood City, California and Paris, France-based spend management software company, raised a $70M growth equity minority funding.
Global investor KKR made the investment and has become a new shareholder alongside the Founders and Ardian, which invested in Ivalua in 2011.
The company will use the funds to further invest in advancing its suite and accelerate business expansion.
Led by David Khuat-Duy, CEO and Founder, Ivalua provides a global spend management cloud solution which enables customers to streamline procurement processes, manage all vendors and contracts.
The solution, which enables large multinational organizations and public sector players to configure it to their complex needs, is used by over 250 blue chip customers globally, including Honeywell, the City of New York, Veolia, Thales, Orange, Michelin, and Deutsche Telekom.