# CombineNet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/combinenet

- Industry: Business Support Services
- Headquarters: Pittsburgh, US
- Website: www.combinenet.com
- Total disclosed funding: $18M
- Latest round: Series C (Feb 23, 2004)
- Investors on record: 4

## About

CombineNet Inc. specializes in procurement solutions, providing organizations with advanced tools to optimize sourcing processes through AI-driven technology that enhances efficiency and transparency across supply chains.CombineNet Inc. is a Pittsburgh, US-based company founded in 2000, focusing on innovative procurement solutions. In September 2013, the company was acquired by SciQuest for USD 43.00 mn. The acquisition marked a pivotal moment in its business strategy, integrating CombineNet's technology into SciQuest's broader offerings. The total number of deals the company has engaged in amounts to 8.JAGGAER One for Financial Services Procurement offers a comprehensive suite of AI-powered source-to-pay solutions designed to enhance procurement efficiency for banking, financial services, and insurance sectors. The platform integrates risk management and strategic sourcing tools, enabling users to identify cost savings and best value across multiple suppliers and regions. With advanced analytics and embedded intelligence, it provides a unified system that allows organizations to track supplier activities, ensure compliance with regulatory standards, and establish risk mitigation strategies. The product is tailored for a variety of clients, including large financial institutions and insurance companies that require stringent security and transparency in their procurement processes. JAGGAER’s solutions cater to markets in North America, Europe, and Asia, providing essential tools for procurement teams looking to adapt to shifting market dynamics and customer expectations.JAGGAER generates revenue through a subscription-based model that encompasses its suite of source-to-pay solutions, allowing clients to streamline their procurement processes while managing risks effectively. The transactions typically involve annual or multi-year contracts where clients pay for access to the JAGGAER platform, which includes features for supplier management, spend analysis, and compliance tracking. These partnerships are predominantly B2B, with financial institutions utilizing the platform to optimize their sourcing and procurement strategies. The revenue structure is supported by various product offerings, with flagship services such as JAGGAER’s Supplier Intelligence and ESG Intelligence tools, enhancing the value proposition for clients. Given the nature of the financial services industry, the platform is designed to adapt to evolving client needs, ensuring that organizations can efficiently manage their procurement activities in a competitive environment.Following its acquisition by SciQuest, CombineNet Inc. is focusing on enhancing its product offerings and expanding into new markets. The company plans to launch new features within its JAGGAER One platform and aims to strengthen its presence in the North American and European markets by the end of 2025. The funding from the acquisition valued at USD 43.00 mn is expected to support these initiatives by enabling further product development and market penetration efforts.

## Funding rounds

- Series C, Feb 23, 2004, $12M — Advanced Technology Ventures, Apex Venture Partners, ECentury Capital Partners, Revolution Ventures
- Series B, May 28, 2002, $6M — Apex Venture Partners, ECentury Capital Partners

## Investors

- Apex Venture Partners (https://capitalatlas.ai/funds/apex-venture-partners) — Series B, Series C
- ECentury Capital Partners (https://capitalatlas.ai/funds/ecentury-capital-partners) — Series B, Series C
- Advanced Technology Ventures (https://capitalatlas.ai/funds/advanced-technology-ventures) — Series C
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Series C