Concertiv, Inc., a leading data analytics, decision support and technology-enabled services platform for professional services firms, has received a significant majority investment from Long Arc Capital, LP, a private equity firm which deploys capital to growing, technology-focused companies.
Founded in 2014 to serve the needs of six preeminent boutique investment banks as key anchor customers, Concertiv has grown to serve over 50 of the world’s most prestigious professional services firms in four main spend management categories: market data and research, technology, risk management, and corporate travel.
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Corporate purchasing for many key operating categories is often impeded by a lack of market transparency, forcing executives to coordinate with multiple parties to piece together fragmented information. Concertiv was launched to change how organizations can run, and to help them make critical operating decisions quickly within this new paradigm.
Through a combination of managed services and proprietary decision-support software, Concertiv simplifies the important and complex spend decisions businesses must make by identifying the best-in-class vendor offerings, creating market transparency, and providing expert recommendations regarding contract structure and terms.
The Concertiv platform helps clients:
- Manage suppliers, products and contracts
- Understand and improve usage and spend behaviors
- Project and plan future spend
- Gain insight into vendor landscapes and product offerings.
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Concertiv will use the growth capital to rapidly build product and engineering capabilities, accelerate sales and marketing initiatives, and strengthen its customer execution teams. In this new phase of growth, Concertiv’s Series A investors will remain shareholders and long-standing partners.
Concertiv President & COO Josh Webman said: “For us, Long Arc Capital is the ideal strategic partner to further accelerate Concertiv’s significant growth. With this investment, we are primed to expand our platform capabilities to serve a growing range of professional services verticals and significantly expand upon Concertiv’s powerful product offerings, helping to enable executives worldwide to tackle the most challenging C-suite operations.”
Kipp Nelson, Partner and President of Long Arc Capital, said: “Long Arc’s goal is to build ‘breakthrough’ businesses enabled by technology that are poised to redefine their respective marketplace. With Concertiv, we see an entrepreneurial force with the potential to cut through market opacity, unlock new insights, and build an infrastructure for professional services firms on a much bigger scale. This is a significant investment in a rising industry leader that has tapped into a unique customer base.”
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