Jaggaer

Jaggaer

Jaggaer

American software company


JAGGAER, formerly SciQuest, is a provider of cloud-based business automation technology for Business Spend Management. Its headquarters is in Morrisville, North Carolina and it has offices around the world.[1] The company's tagline is Procurement Simplified.

Quick Facts Industry, Founded ...

Company history

SciQuest was established in 1995 as a B2B eCommerce exchange.The company went public with an IPO in 1999.[2] In 2001, SciQuest transitioned from a B2B exchange company into eProcurement software and supplier enablement platforms. SciQuest was taken private in 2004 and continued to move into eProcurement, inventory management and accounts payable automation. SciQuest completed an IPO in September 2010 raising approximately $57 million.[3][4][5] SciQuest, and its 510 person workforce, was taken private in June 2016 as part of a $509 million acquisition by Accel-KKR, a private equity firm headquartered in Menlo Park, CA.[6][7]

In 2017 SciQuest was rebranded as JAGGAER and announced increased focus on offering a complete, integrated source-to-pay suite.[8][9] Along with the name change, the company expanded its market focus to manufacturing, healthcare, consumer packaged goods, retail, education, life sciences, logistics and the public sector.[10]

JAGGAER acquired the European direct materials procurement specialist Pool4Tool in June 2017 giving it end-to-end direct as well as indirect materials procurement coverage.[11]

JAGGAER acquired spend management company BravoSolution in 2017,[12] and entered into a joint venture with United Arab Emirates-based Tejari. Gartner, Inc. named JAGGAER (Advantage) highest for Ability to Execute in its 2018 “Magic Quadrant for Strategic Sourcing Application Suites.”[13] JAGGAER was named as a Leader in Gartner, Inc's 2018 “Magic Quadrant for Procure-to-Pay Suites” in early 2018 and again in 2019.[14][15]

In February 2019 JAGGAER launched JAGGAER ONE, which unifies its full product suite on a single platform.[16]

In 2019 the UK-based private equity firm Cinven acquired a majority holding in the company.[17] Jim Bureau was subsequently named JAGGAER's Chief Executive Officer. Bureau joined JAGGAER in 2018 and had been responsible for the company's sales and commercial operations.[18] Bureau left the firm in March 2023, and Andy Hovancik was announced as the company's CEO in June.[19]

Product Categories

The JAGGAER ONE platform supports the following products:

Acquisitions

SciQuest acquired the following companies:[20]

  • AECsoft - January 2011. Provider of supplier management and sourcing technology.[21]
  • Upside Software, Inc. - August 2012. Provider of contract lifecycle management (CLM) solutions.[buzzword][22]
  • Spend Radar, LLC - October 2012, Provider of spend analysis software.[23]
  • CombineNet - September 2013, Provider of advanced sourcing software[24]

JAGGAER acquired the following companies:

  • POOL4TOOL - June 2017, Provider of direct sourcing and supply chain management software[25]
  • BravoSolution - December 2017, Provider of global platform spend management solutions[26]

References

  1. "Research Triangle: The New Silicon Valley of the Smart Grid?". Retrieved 11 February 2014.
  2. "Exploring e-Procurement Market Trends: No Winner Here". 13 January 2014. Retrieved 11 February 2014.
  3. "SciQuest Shares Surge After $57 Million Software IPO - Bloomberg". Bloomberg. bloomberg.com. 24 September 2010. Retrieved 2014-02-11.
  4. Cowan, Lynn (24 September 2010). "SciQuest Gains 29% in IPO Debut". Wall Street Journal. Retrieved 11 February 2014.
  5. "SciQuest". Business North Carolina. Vol. 36, no. 7. July 2016. p. 29. ISSN 0279-4276. Retrieved 1 July 2023 via Gale General OneFile (Wikipedia Library).
  6. Bracken, David (June 1, 2016). "Private equity firm buying SciQuest". Business. The News and Observer. pp. A10. Retrieved July 1, 2023.
  7. "SciQuest Rebrands as JAGGAER". Retrieved 20 February 2017.
  8. "SciQuest changes name to JAGGAER". Retrieved 20 February 2017.
  9. "JAGGAER About Us". Retrieved 20 February 2017.
  10. "JAGGAER Named a Leader in Gartner's Magic Quadrant for Procure-to-Pay Suites" (Press release). June 2018. Retrieved 10 September 2018.
  11. "Gartner Procure-to-Pay Suites Market". Retrieved 25 October 2018.
  12. "JAGGAER names new CEO, creates COO position". 16 October 2019. Retrieved 25 October 2019.
  13. "JAGGAER Announces New Chief Executive Officer, Andy Hovancik". JAGGAER. 6 June 2023. Retrieved 7 June 2023.
  14. "SciQuest Acquires Assets of Upside Software |". paystreamadvisors.com. Retrieved 2014-02-11.
  15. "JAGGAER Acquires BravoSolution Creating a Powerhouse in Spend Management". Archived from the original on 10 September 2018. Retrieved 10 September 2018.

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