Relish empowers businesses to maximize the value of their existing enterprise software investments by providing solutions that protect against third-party risk, validate supplier data, and automate invoicing.
Relish empowers businesses to maximize the value of their existing enterprise software investments by providing solutions that protect against third-party risk, validate supplier data, and automate invoicing.
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About Relish
Background
Relish was founded in 2020 in Cleveland, OH after being incubated within Nitor Consulting – one of the top boutique procurement firms – for several years. The Company is looking to benefit from the rapidly growing procurement software industry which expected to scale from $6.67 billion in 2022 to $13.80 billion by 2029. The sheer scale of the industry means that the needs of its constituents are quite broad and diverse, a dynamic which has in recent years pushed leading vendors like SAP Ariba and Coupa to start following in the footsteps of other enterprise software players like Salesforce and Shopify in creating 3rd party app stores to serve a wider range of use cases and pain points. As has been the case in other large, enterprise ecosystems, open enterprise procurement platforms like SAP Ariba, Coupa and others are poised to help launch a wave of valuable SaaS businesses that are helping extending the value of their offerings.
Why We Invested
Over the past several years, the Company has grown to be a key player in the procurement software, 3rd party ecosystem. The Company offers supplier data validation capabilities in over 110 countries, offering its Invoice AI capabilities in over 200 languages, while providing additional solutions such as automated contract / price verification, and AI procurement assistant product among others.
We are looking forward to partnering with Relish co-founders Ryan Walicki and Alex Lopez, and the entire team, who have deep domain expertise in procurement technology. After establishing clear product-market fit and strong traction with customers and stakeholders, we see a meaningful opportunity for the Company to continue to innovate and help customers get the most out of their enterprise procurement systems. We feel that the trend of enterprise procurement software platforms leveraging third-party developer ecosystems to fill gaps is only getting started. The leadership team understands the industry pain points and has a strong vision for how AI and intelligent process automation can fundamentally transform procurement, and we are proud to be partnering with the Company.
Click here to visit the Relish website.
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