Globality, a Palo Alto, CA-based company which specializes in AI-driven sourcing and procurement, raised $47M in Series D-1 and Series D-2 funding.
Backers included Rollins Capital, bringing the total capital raised to $356M.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Joel Hyatt, Globality is building an AI-first solution that empowers enterprises to spend smarter, providing domain-specific data, adaptive machine learning models refined for procurement, and Gen AI that guides the user through an intuitive, interactive, experience. Thought it, companies reduce costs by 10% – 20% across all their spend, while capturing 60% – 90% operating efficiencies and achieving better business outcomes.
Its Fortune 500 customers include Fidelity, Santander, British Telecom, Tesco, IQVIA, T. Rowe Price, Invesco, Hewlett Packard, Dropbox, and Allegis Global Solutions.
