OneStream Software LLC, a Rochester, MI-based provider of cloud or on-premise Corporate Performance Management (CPM) solutions for mid-sized to large enterprises, entered into an agreement to receive a significant investment from KKR.
The deal, funded through a combination of KKR’s private equity and growth equity funds, was OneStream’s first from an external investor, after achieving nearly 500% growth over the last three years while maintaining strong profitability.
The investment brought the company’s valuation to over $1.0 billion.
The company intends to use the funds to accelerate investments in sales, marketing, product development and customer success.
Led by CEO Tom Shea, OneStream provides a platform designed to address the complex requirements of corporate finance, local finance and diverse operational business units in a single application. such as UPS®, Sagent Pharmaceuticals, Post Holdings, Inc., Fruit of the Loom, The Carlyle Group, Melrose PLC and many others use OneStream to streamline multiple financial processes, including financial and operational planning, close and consolidation, compliance and regulatory reporting, and financial and business analytics.
The software is architected to support large-scale cloud deployments and can extend to address new functional requirements and digital transformation. The company is now expanding rapidly across new geographies, industries, and government agencies that are looking to modernize their finance functions and systems.
Upon closing of the transaction, General (Ret.) David H. Petraeus, Member, KKR, and Chairman of the KKR Global Institute; Dave Welsh, Member, KKR, and Head of TMT Growth Equity at KKR; and Jim Miele, Principal, KKR, will join OneStream’s board of directors.