Luminate Capital Partners acquires ecMarket/Conexiom

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By Ted Liu

Luminate Capital Partners has acquired ecMarket Inc., dba Conexiom, a Vancouver based provider of cloud-based supply chain document automation software solutions. The transaction closed in February 2018. Financial terms were not disclosed.

In connection with the investment, Hollie Haynes, Mark Pierce, Scott Kingsfield, David Ulrich, and Sanjay Palakshappa from Luminate have joined Conexiom’s board of directors.

San Francisco, California based Luminate Capital Partners is a private equity firm focused on making investments in enterprise software companies. Founded by former Silver Lake Managing Director Hollie Haynes, Luminate Capital Partners currently is investing its US $265 million debut private equity fund, Luminate Capital Partners, LP.

ecMarket was controlled by family office Sojecci Ltée which led a US $11.25 million investment in 2000 along with Viventures and a Hong Kong based investment group.

Kirkland & Ellis, LLP and Blake, Cassels & Graydon LLP acted as legal advisors to Luminate. Conexiom was advised by DCS Advisory and Harper Grey LLP.

Conexiom’s software automates the processing of supply chain documents with 100% accuracy. Customer service and inside sales teams rely on Conexiom to capture purchase orders, pricing agreements, invoices and other key documents, and transform them into an electronic format that can be delivered directly into their organization’s ERP system, eliminating manual entry. Leading enterprises, including 10 of the top 25 distributors in North America, have chosen Conexiom to optimize their supply chain processes, enabling them to provide industry leading customer service and focus internal resources on value generating activities.

“We have driven our success to date by focusing on the North American wholesale distribution and manufacturing markets,” says Brent Halverson, CEO of Conexiom. “With a partner like Luminate Capital, we can now more quickly drive customer adoption in the manufacturing and distribution markets, expand geographically, and move into other verticals with similar business profiles. Luminate’s deep experience partnering with leading software companies to drive growth will be invaluable as we continue to scale.”

“We are delighted to partner with Brent and the Conexiom team to support their continued growth and product innovation. Conexiom provides a mission critical solution used by industry leading organizations to eliminate labor intensive and error prone supply chain processes. We believe there is an immense market opportunity for this solution,” says Hollie Haynes, Founder and Managing Partner at Luminate.

photo credit: ecMarket