Globality Inc.
| Private | |
| ISIN | 🆔 |
| Industry | Software and Services |
| Founded 📆 | 2015 |
| Founder 👔 | Joel Hyatt, Lior Delgo |
| Headquarters 🏙️ | , Palo Alto, California |
Area served 🗺️ | |
| Products 📟 | Procurement Software |
| Members | |
Number of employees | 250 |
| 🌐 Website | www.globality.com |
| 📇 Address | |
| 📞 telephone | |
Globality Inc. is a Silicon Valley technology company, founded by Joel Hyatt and Lior Delgo in 2015, that provides a marketplace to buy and sell services – utilizing artificial intelligence and natural language processing. The types of services companies source include legal, IT, consultancy, marketing, HR and real estate.
Along with its Silicon Valley headquarters, the privately owned company also has offices in London, with more than 250 employees worldwide.
A serial entrepreneur listing Al Gore among his former business partners, Hyatt said that, like his previous ventures, Globality had identified a societal issue and figured out a private sector approach that could address the issue and create positive change. Globality's stated mission is to help enable smaller, more diverse companies compete on a level playing field in the global services sourcing market.[1][2]
History
Globality was founded in 2015 and launched publicly in 2017 with the stated mission of leveling the playing field by matching Fortune Global 500 companies with suppliers around the world, based on their credentials and proven experience.[3]
In November that year it raised US$35 million in early-round funding from a group of investors including Gore and International Chamber of Commerce secretary, John Danilovich.[4]
In January 2019, Globality announced that it had raised US$100 million from the SoftBank Group Vision Fund, the world's largest technology-focused venture capital fund, bringing its total funding raised to US $172 million.[5]
In May 2019, Globality announced that global banking group HSBC had adopted its self-serve procurement platform to enable cost-cutting, accelerate the decision-making process, and have direct access to the industry's best suppliers.[6]
In September 2019, Globality appointed Keith Hausmann, previously of Accenture, as Chief Revenue Officer to drive business development and growth.[7][8]
In February 2020, Globality appointed former Oracle Corporation executive Keith McFarlane as Chief Technology Officer to oversee development of its AI-driven platform.[9]
At the beginning of 2021, Globality raised a further $138 million from Sienna Capital, part of Groupe Bruxelles Lambert, and the SoftBank Vision Fund, bringing the total investment it has raised to US$310 million.[10]
In February 2021, Globality announced its first Chief Product Officer, Matt Malden, previously CPO at DocuSign, to develop and scale its platform.[11]
In March 2021, Globality announced that Aquanima, part of the Banco Santander Group, would be using its platform to source services for Santander and other customers in 14 countries around the world.[12]
The following month, BT Group stated that its new standalone procurement entity, BT Sourced would also be using Globality to source services across the globe.[13]
Products
Globality's intelligent AI-powered advisor Glo guides its customers through the traditionally lengthy and painful procurement process in a simple and intuitive way from defining their specific project requirements to awarding the final contract for complex, high-value services.[14]
The digital 'Smart Sourcing' platform is designed to replace traditional analogue procurement systems which rely on paper-driven requests for proposals and often led to drawn-out negotiations with potential suppliers.[8]
In February 2021, Globality announced that it had partnered with the multinational software company SAP to simplify the process of using Globality's platform for SAP customers worldwide.[15]
Awards
In October 2019, Globality was recognized by leading independent research firm Forrester Research for its eSoftware Sourcing Solution as the "only vendor with a really good solution for these critical services categories".[16]
In April 2020, Globality was named Best Natural Language Processing Platform by the AI Breakthrough Awards.[17]
The company was also named in key industry publication Spend Matters' list of '50 Procurement Providers to Watch for 2020'.[18]
In December 2020, Globality was named one of the Top 50 Companies to work for by Comparably – one of just ten Small and medium-sized enterprises to be recognized in all four categories – Best Company Culture, Best CEO, Best Company for Women and Best Company for Diversity.[19]
In April 2021, Globality was named an HFS Research Hot Vendor by HFS Research for having: "an innovative solution for smart self-sourcing utilizing the combination of automation, AI, and analytics".[20]
References
- ↑ Cave, Kathryn (May 18, 2017). "Globality seeks to tap benefits of globalisation". IDG Connect.
- ↑ Bonasio, Alice (March 2, 2018). "Al Gore-Backed AI Platform Aims To Make Globalization More Equitable". Fast Company.
- ↑ "Al Gore's Former Partner Is Back With Another Web Venture". Fortune.
- ↑ "Globality raises $35 million for its marketplace to connect small companies with big business".
- ↑ "Globality – The World's First Smart Sourcing Platform, Powered By AI – Raises $100 Million from The SoftBank Vision Fund". January 24, 2019.
- ↑ "HSBC taps Globality for its AI Self-Serve Procurement Platform -".
- ↑ "Keith Hausmann leaves Accenture to join Globality". www.consulting.us. September 26, 2019.
- ↑ 8.0 8.1 team, James Montgomerie: 22 11 2019 at 2:47 pm So its not just blurgroup all over again with a better looking management; directors?Also, a MUCH more high powered board of; Sourcing, Complex Services; Reply, tail spend…??? (November 11, 2019). "Q&A: Keith Hausmann on joining Globality: 'This is what I'd been looking for'". Spend Matters.
- ↑ "Globality Appoints Chief Technology Officer to Lead Innovation - IT Supply Chain". itsupplychain.com.
- ↑ "Globality Raises $138.3 Million of Series E Funding From Sienna Capital". Supply and Demand Chain Executive. January 26, 2021.
- ↑ "Globality Appoints Matt Malden as Chief Product Officer to Deliver the World's Best Services Sourcing Experience". Silicon UK.
- ↑ "Globality and Aquanima, a Santander Company, Sign Agreement to Enhance the Digitalization of Its Procurement Processes". uk.news.yahoo.com.
- ↑ "Globality And BT Launch Globality's AI-Powered Smart Sourcing® Platform | Top Business Tech".
- ↑ "AI Comes to Financial Services". Datanami. May 22, 2019.
- ↑ "Globality Again Partners With SAP to Transform How Businesses Source Complex Services Across Strategic Spend Categories". money.yahoo.com.
- ↑ "Globality Recognized in eSourcing Software Report by Independent Research Firm". www.businesswire.com. October 31, 2019.
- ↑ "2020 Winners | AI Breakthrough Awards".
- ↑ "50 Procurement Providers to Watch for 2020". Spend Matters. April 21, 2020.
- ↑ Peart, Natalia. "Meet The Best Company Workplace Culture Awards 2020—According To Comparably". Forbes.
- ↑ "HFS OneOffice Hot Vendors Q1 2021".
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