Proactis secures significant investment from AshGrove Capital (“AshGrove”) to support ongoing growth and product innovation
- Proactis, a leading Source-to-Pay software solution provider, announces it has secured investment from AshGrove with continued support from its existing shareholders Pollen Street Capital and DBay Advisors.
The new funding supports plans to grow the UK, European, North American and APAC businesses both organically and via acquisition, with this endorsement affirming the strength and robustness of Proactis’ solutions and clear growth potential. During this process, Proactis were advised and supported by Atlantra.
Proactis Rego is an intelligent Source-to-Pay software platform specifically designed to manage public sector, private sector and not-for-profit service based spend. Proactis will continue to enhance its platform with AI and machine learning capabilities, increasing user productivity as well as supporting customers with meeting the evolving compliance landscape such as the Procurement Bill and eInvoicing regulations.
“We are excited to partner with AshGrove, and thrilled by the potential this investment brings. It will strengthen our position to continue supporting our customers in a dynamic and changing market,” says Proactis CEO, Stephen Line.
AshGrove, a London-based investor focused on supporting high-growth companies in the European software and services sectors, said: “AshGrove is pleased to announce our investment in Proactis, a leading Source-to-Pay software solution. Proactis' Rego platform enables organisations to control spend, manage supply-chain risk and improve compliance and governance of purchasing activities through process digitisation and automation.”
Read more about Proactis here
Read more about AshGrove here