Gowling WLG advises PeakSpan Capital on $15 million Series B investment in Simfoni

2 minute read
16 August 2021

Gowling WLG's global tech sector team has advised PeakSpan Capital, a US based growth stage investor focusing exclusively on B2B software businesses, on its $15 million Series B investment in Simfoni, a procurement and spend automation platform powered by AI.

The funding will be used by Simfoni to significantly expand its sales and marketing to meet increasing demand for its analytics-driven, turn-key Spend Automation platform, powered by Artificial Intelligence (AI)

The Simfoni Spend Automation platform is a full digital procurement suite that provides more control for CFOs. It utilises Machine Learning (ML) and AI to leverage data to automate and streamline key aspects of the procurement process, while reducing third-party expenditures across the entire organisation. In comparison with more traditional Procure-to-Pay solutions, Simfoni's Spend Automation solution offers a one-stop-shop digital procurement capability for chief financial officers and procurement professionals, with implementation and procurement execution, delivered within the world's most accessible platform.

Gowling WLG's London team advising PeakSpan Capital was led by principal associate Stephen Bowman, supported by corporate lawyers Roisin Bergin and Maya Thompson, Megan Dudley (commercial), James Hall (employment) and Charlie Bond (IP). Dubai support was led by Simon Elliot and Beena Escritt (both corporate).

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