Procurement Partners Announces Growth Investment from Serent Capital

Procurement Partners Announces Growth Investment from Serent Capital

Bringing Procurement Automation to More Buyers and Vendors

December 3, 2020

Procurement Partners, a leading provider of procure-to-pay (P2P) solutions for healthcare providers, announced a significant growth investment from Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies.

Procurement Partners drives meaningful procurement savings for its customers through its eProcurement platform, which provides an automated end-to-end purchasing solution, encompassing the full purchasing cycle – from product selection to vendor payment. The Procurement Partners platform improves savings through their 100% invoice integration, removing the need for manual and paper keying. The platform also offers a compliance audit feature, which can help reduce bottom-line vendor spend for its customers.

“When we met the Serent team, we found a true partner who shares our values, has deep healthcare and technology experience, and supports Procurement Partners with the tools and resources to accelerate our growth while still allowing us to deliver best in class service to our buyer customers and vendor partners.”

“We’re delighted to partner with Serent,” said Rusty Zosel, CEO of Procurement Partners. He continued, “When we met the Serent team, we found a true partner who shares our values, has deep healthcare and technology experience, and supports Procurement Partners with the tools and resources to accelerate our growth while still allowing us to deliver best in class service to our buyer customers and vendor partners. With Serent’s partnership, we look forward to delivering efficient procurement automation solutions and cost savings to even more customers.”

“Rusty and the Procurement Partners team have built a solution that is well-loved and delivers tremendous value to its customers,” stated Kevin Frick, Co-Founder, and Partner at Serent Capital. He continued, “We’re excited to bring our healthcare experience and resources, including our Growth and Human Capital Teams, to help them scale their reach and grow their team.”

The Procurement Partners team is comprised of P2P and technology experts with decades of experience working for healthcare, vendor, contracting, and software organizations. Procurement Partners serves over 100 healthcare organizations and over 200 integrated vendors who provide equipment to nearly 2,000 healthcare facilities across the United States.

Procurement Partners represents the 9th investment in the healthcare market for Serent Capital. Previous investments include Axiom Medical, Cardon Outreach, Employer Healthcare Direct, Equinox Healthcare, Pondera, Professional Health Care Network, Senior Dental Care, and United Allergy Services.

TripleTree LLC served as the exclusive financial advisor to Procurement Partners.

 

About Procurement Partners 

Since 2010, Procurement Partners has been leading the business commerce evolution with its procure-to-pay (P2P) solution. The complete procurement and transaction automation portal, built and supported by Procurement Partners, reduces off-contract spending, and drives efficiency to purchase processes while automatically auditing every invoice. The significant amount of flexibility of the Portal, the ability to capture 100% of invoices, and the capability to service customers and vendors of all sizes have made Procurement Partners one of the fastest-growing P2P solutions in multiple markets. Learn more at http://www.procurementpartners.com.

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

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Nothing presented herein is intended to constitute investment advice, nor sales material, and no investment decision should be made based on any information provided herein. Information provided reflects Serent's views as of a particular time and are subject to change without notice. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. While Serent has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Past performance is not indicative of future results. There can be no guarantee that any investment strategy employed by Serent will be successful. A full list of portfolio holdings is available on Serent's website.