How Green Cabbage is Powering Procurement Innovation

Green Cabbage, a global leader in procurement intelligence, has announced a US$40m Series B funding round. 

It comes courtesy of an investment from Sageview Capital, a growth equity firm based in Silicon Valley and New York.

The funding is set to propel the company's international expansion, as well as the continued launch of advanced multi-channel spend cubes, furthering its mission to redefine procurement intelligence.

"We're honoured to welcome Sageview Capital as a partner in our growth journey," says Eric Cunningham, CEO and Founder of Green Cabbage.

"The trust we've earned from some of the world's largest enterprises by delivering billions in savings across technology, third-party labour, marketing and travel & expense has validated our model.

"With Sageview's support and global network, we're expanding the depth of our spend categories and extending our solutions from large enterprises to mid-market organisations worldwide."

Building on momentum

The latest funding comes at a time of real growth and excitement around Green Cabbage, just a year on from its Series A investment from Sorenson Capital.

Green Cabbage is a global leader in procurement and workforce market intelligence, helping organisations optimise spend across indirect technology, contingent workforce, marketing and travel and expense categories.

Through its proprietary OneWorkspace platform and executive relationships, Green Cabbage delivers measurable value, enabling companies to achieve 15-30% savings with a guaranteed minimum 5X ROI.

Jeff Klemens, Partner at Sageview Capital, adds: "We've been following Green Cabbage for over a year and are impressed with their vision, product momentum and consistent execution. With annual growth more than 100% and an exciting technology roadmap, it's clear they are bringing unmatched innovation to procurement & finance.

"The combination of strong customer ties across private equity, consulting and global enterprises, plus an experienced and energised leadership team, positions Green Cabbage for long-term, sustainable success.

"We are excited to partner with Eric and the entire Green Cabbage team to support their growth journey."

Industry veteran joins to drive client success

Earlier this year, Green Cabbage landed procurement expert Michael Van Keulen, known affectionately as 'MVK', as its new Chief Client Officer (CCO).

MVK boasts more than 15 years of experience across procurement and supply chain leadership in a range of roles – most recently as the Chief Procurement Officer and then Practice Leader at Coupa.

This has allowed Michael to obtain a wholly unique skillset when it comes to procurement, from a blend of strategic insight, operational excellence and global perspective, which he will bring to the Green Cabbage executive team.

Speaking at the time of his appointment, he said: "As a practitioner, I have always believed in making fact-based decisions, doing my homework and establishing strong relationships with internal and external stakeholders.

"In the age of AI having reliable, structured, governed and trusted data is critical to understanding the competitive landscape, where there is leverage, while optimising the value of spend requires the right intelligence at your fingertips.

"That is exactly what Green Cabbage has created and this is the perfect time to help scale and grow globally across all verticals. I am truly inspired by the measurable value Eric and the team are delivering to the procurement community and excited about the journey ahead."

Eric concludes: "We've been fortunate to align with the right partners at the right time and we couldn't be more excited to have Sageview join us.

"Our clients have been asking for deeper insights through a multi-channel spend cube platform and we are delivering. We've also built a world-class leadership team across the globe and our clients' results speak for themselves."