# Orpheus

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

- Industry: Software
- Headquarters: Nuremberg, Germany
- Website: www.orpheus-it.com
- Latest round: Series A (Sep 25, 2014)
- Investors on record: 3

## About

Orpheus GmbH specializes in innovative Spend Analytics Software solutions, empowering organizations to optimize procurement strategies and drive sustainability initiatives through advanced data insights and analytics capabilities.Founded in 2005, Orpheus GmbH is based in Nuremberg, Germany, and focuses on providing Spend Analytics Software as a Service (SaaS). In February 2020, McKinsey & Company acquired Orpheus for an undisclosed amount, marking a pivotal change in the company's strategic direction.Spendscape by McKinsey offers comprehensive Spend Analytics Software designed as a Software as a Service (SaaS) solution. The platform enables organizations to gain in-depth insights into their procurement spend, facilitating improved decision-making, innovation, and growth opportunities. The software integrates advanced technologies, including state-of-the-art Extract, Transform, and Load (ETL) processes, to create a reliable single source of truth for procurement data. Key functionalities include data cleansing and categorization, carbon and sustainability tracking, and dedicated analytics modules that cater to specific categories and sourcing needs. Spendscape serves a diverse client base across various industries, supporting organizations globally in their procurement and sustainability initiatives.Spendscape generates revenue primarily through subscription-based models, offering clients access to its suite of Spend Analytics Software. Clients engage with the platform based on tailored service packages that align with their procurement and sustainability goals. Transactions typically involve B2B relationships, where companies subscribe to the software to utilize its analytics capabilities for optimizing procurement strategies. The revenue structure is reinforced by the company's ability to provide comprehensive insights and actionable recommendations through its analytics modules and managed insights services. While specific pricing plans for individual services have not been disclosed, the offerings are designed to cater to a range of organizational needs, making them suitable for both large enterprises and smaller businesses.Following the acquisition by McKinsey & Company, Orpheus GmbH plans to leverage the resources of its parent company to enhance its product offerings and expand its market reach. The company is focusing on developing new features for Spendscape, with an aim to launch an upgraded version in the second half of 2021. Additionally, Orpheus is targeting expansion into the North American and Asian markets by 2023, seeking to establish a stronger presence in these regions. The recent acquisition will support these initiatives by providing the necessary capital and strategic guidance to drive growth and innovation.

## Funding rounds

- Series A, Sep 25, 2014 — Unternehmertum Venture Capital, Senovo
- Series A, Feb 19, 2013 — KfW Banking Group, Unternehmertum Venture Capital
- Series A, Sep 1, 2012 — KfW Banking Group, Unternehmertum Venture Capital

## Investors

- KfW Banking Group — Series A
- Unternehmertum Venture Capital (https://capitalatlas.ai/funds/unternehmertum-venture-capital) — Series A
- Senovo (https://capitalatlas.ai/funds/senovo) — Series A