Professional Services Platform Concertiv Announces Growth Equity Investment from Long Arc Capital
Majority Stake Marks New Partnership to Drive Transformation of Procurement, Decision Support and Analytics
23 Mar, 2021, 12:02 ET
NEW YORK, March 23, 2021 /PRNewswire/ -- 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.
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.
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."
About Concertiv, Inc.
Founded in 2014, Concertiv is a NYC-based company that simplifies the decisions businesses must make by providing the best deals, expert recommendations, and market transparency. Concertiv serves over 50 distinguished professional services companies, with over $300 million total spend under management. Thanks to its unparalleled team of industry experts, unique pan-market position and network, and next-generation software, Concertiv gives leaders everything they need to feel confident that they are making the best operating decisions for their business. For more information, please visit https://www.concertiv.com/.
About Long Arc Capital, LP
Long Arc Capital is a private equity firm based in New York City dedicated to building and scaling breakthrough technology and technology-enabled businesses. Founded in 2016, Long Arc has six Partners collectively with over 150 years of investing and operating experience. The firm has a philosophy of "active ownership," partnering with entrepreneurs and management teams bringing to bear a comprehensive suite of resources that advance the human capital, strategic, product development, technology, and financial strengths of its portfolio companies, successfully driving their profitable growth. For more information about Long Arc Capital, visit https://www.longarc.com.
Zach Allegretti, JConnelly
SOURCE Long Arc Capital, LP; Concertiv, Inc.
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