Globality, the leading AI-powered digital solution for sourcing strategic services, announced today it has closed an investment of $138.3 million from Sienna Capital, a wholly owned subsidiary of Groupe Bruxelles Lambert (GBL), and the SoftBank Vision Fund. This new investment brings Globality’s total funding to $310.3 million since being founded five years ago. As part of the investment, Colin Hall, vice-chairman of Sienna Capital, will join the company’s board of directors.
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The Series E round of funding enables Globality to fuel its rapid growth by investing in additional AI technology capabilities. It also directly supports the company’s efforts to increase its global scale and capacity; add world-class talent to the engineering, product and client teams; and expand its marketing and sales programs for brand awareness so to acquire additional enterprise customers and channel partners.
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Sienna Capital is the alternative investments platform of GBL, with a diversified portfolio of asset managers and direct investments and co-investments with strategic partners. GBL is a leading investor in Europe, with over sixty years of stock exchange listing, a net asset value of EUR 18 billion as of September 30, 2020 and a current market cap of EUR 14 billion. GBL has built a diversified high-quality portfolio composed of sector-leading global companies and notably holds significant ownership positions in adidas, SGS and Pernod Ricard.
Globality’s platform transforms the sourcing of high-value services by automating the demand creation, supplier identification, proposal evaluation and statement of work creation process with a self-serve, consumer-like interface powered by cutting-edge AI technology. With strategic sourcing increasingly viewed as a critical source of transformational innovation for global enterprises, companies are actively seeking ways to improve their bottom line and increase efficiency gains while sourcing the best supplier for every sourcing need.
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