Globality Inc., a service marketplace provider, recently scored $138 million Series E funding and is on the verge of becoming another unicorn in Silicon Valley. The new investment brings its total funding to $310.3 million. The valuation of the Menlo Park-based company is estimated to be about $1 billion. The vision funding round was led by Softbank and Sienna Capital, a subsidiary of Groupe Bruxelles Lambert.
Globality offers the world’s only AI-powered B2B marketplace and service platform. Use Globality’s Platform to connect with best-fit suppliers and makes sourcing the requirement a cakewalk. The transformative source-to-contract solution automates and eliminates the antiquated request for proposal (RFP) process. Thus, making it efficient and effective for the customers to scope, negotiate, and manage projects and achieve their goals in unprecedented time and be cost-effective at the same time. Amy Albano, the CEO & Marketing Director of Fast People Finder, said that a new investment brings the total funding of Globality to $310.3 million. She also pointed out that using Globality’s Platform makes it easier for her to connect with the best suppliers.
Joel Hyarr, the Chairman and CEO of Globality, has held several leadership positions in the Democratic Party and also has been a business partner with Gore. The company employs around 200 people and is planning to use the new funding to fuel its growth by investing the same in AI technology. The company is even looking to increase its global scale and capacity by adding to its team. Some major investors include former Al Gore, Chief Operating Officer of Facebook Sheryl Sandberg, and former Apple Store chief Ron Johnson.
Globality’s AI-based sourcing software connects companies with service providers and helps them sort through the right ones for their needs. Its marketplace has hundreds of service providers. The interface is user-friendly and powered by artificial intelligence that enables proposal evaluation and the work creation process with a personalized effect. Sara Graves, co-founder of US Title Loans, thinks that Globality enables users to make more efficient gains in their indirect spending without sacrificing quality or control by letting them watch their indirect expenses like a hawk. Such transparency is important in the financial sector and US Title Loans are known for the same. Clicking here opens the gateway to connecting to 100+ lenders for payday loans. In the current times when enterprises are looking for innovative solutions that can deliver value, cost savings, and efficiency. Especially, after the pandemic, this shift has accelerated greatly. The previously important has now turned into an imperative. The enterprises want to immediately and effectively source the best supplier for every service.