Thursday, April 18, 2024
HomeFunding GA-based NPI Secures an Investment from Falfurrias Growth Partners

[Funding alert] GA-based NPI Secures an Investment from Falfurrias Growth Partners

GA-based NPI Secures an Investment from Falfurrias Growth Partners. a Charlotte-based private equity fund focused on growth-oriented, middle-market businesses.

GA-based NPI Secures an Investment from Falfurrias Growth Partners. a Charlotte-based private equity fund focused on growth-oriented, middle-market businesses.

This transaction will propel NPI’s continued growth by enabling further investments in new AI-powered technology, enhanced products, and sales and marketing while also bolstering the ongoing innovation of NPI’s proprietary artificial intelligence and machine learning technology platforms.

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IT is one of the largest and most complex cost centers for businesses today, and spend continues to grow as sectors digitize operations and the customer experience.

Worldwide IT spending in 2024 is estimated to be $5 trillion, an increase of almost 7% over 2023. Managing this dynamic spend category, which is characterized by price volatility, inconsistency, and opacity, is a persistent challenge for large enterprises.

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Founder and CEO, Jon Winsett, will continue to lead the company said, “Today, we proudly support some of the world’s most recognized brands in their pursuit of IT cost governance and procurement excellence, In partnership with Falfurrias, our ongoing mission is not just to scale up but to be pioneers in enterprise IT procurement. This year, we’re poised to launch groundbreaking AI-powered technology that is purpose-built for IT procurement practitioners to streamline the IT purchase negotiation process and secure world-class deal outcomes with unparalleled ease, speed, and confidence.”

Michael Clifton and Amy Brandt, Partners at Falfurrias said, “We are excited about partnering with Jon and the NPI team in this next phase of growth. We believe the company’s large and proprietary datasets allow it to deliver unique insights. NPI continues to lead the sector with innovation, including new solutions that leverage generative AI in a way that is truly meaningful for IT procurement practitioners, Kevin Hesselbirg, an Industry First executive with Falfurrias, will serve as NPI’s Chairman, bringing 25+ years of experience leading and growing software and services businesses.

Equity for this investment comes from Falfurrias Growth Partners I, a growth buyout fund strategy launched by Falfurrias Management Partners in 2023, and builds on the firm’s experience in the information services and tech-enabled services sectors.

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BrightTower LLC served as financial advisor to NPI on the transaction, with Morris, Manning & Martin, LLP providing legal counsel. McGuireWoods LLP served as legal advisors to Falfurrias.

About NPI

NPI has distinguished itself as a premier provider of data driven intelligence and tech-enabled services designed specifically to assist large enterprises with IT procurement cost optimization.

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NPI delivers transaction-level price benchmark analysis, license and service optimization analysis, and vendor-specific negotiation intel that enables IT buying teams to drive material savings and measurable ROI. NPI analyzes billions of dollars in spend each year for clients spanning all industries that invest heavily in IT.

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