What is Corcentric?
Founded in 1996 and headquartered in Cherry Hill, New Jersey, Corcentric offers a comprehensive suite of solutions designed to streamline financial operations for businesses. Their offerings encompass capital equipment procurement, indirect and fleet procurement, warehouse management solutions, and advanced accounts payable automation. This integrated approach allows companies to optimize spending, improve efficiency, and gain greater control over their financial workflows, positioning Corcentric as a key player in the financial process automation sector.
How much funding has Corcentric raised?
Corcentric has raised a total of $595M across 3 funding rounds:
Debt
$200M
Private Equity
$80M
Debt
$315M
Debt (2018): $200M with participation from JPMorgan Chase, Bank of America, and TCW Asset Management Company
Private Equity (2020): $80M led by Bregal Sagemount
Debt (2023): $315M supported by JPMorgan Chase, Bank of America, and The TCW Group
Key Investors in Corcentric
JPMorgan Chase
JPMorgan Chase is a leading global financial services firm providing investment banking, commercial banking, and asset management services. Their involvement suggests Corcentric's strong financial footing and access to substantial credit facilities.
Bank of America
Bank of America is a global financial institution offering comprehensive banking and financial services. Their participation highlights Corcentric's significant scale and creditworthiness within the enterprise sector.
The TCW Group
The TCW Group is an investment management firm. Their backing indicates confidence in Corcentric's business model and future revenue generation potential.
What's next for Corcentric?
With a significant enterprise-level funding context, Corcentric is poised for accelerated growth and strategic development. The recent major strategic investment suggests a focus on expanding market reach, enhancing its technology platform, and potentially pursuing acquisitions to broaden its service portfolio. This capital infusion will likely enable Corcentric to further solidify its competitive advantage in the procurement and financial automation space, catering to the evolving needs of large enterprises seeking operational efficiencies.
See full Corcentric company page
