Gatekeeper Accepts First External Capital to Take Advantage of Growing Demand for Unified Vendor, Contract and Third-Party Risk Management Platform Capabilities
LONDON, United Kingdom , Oct. 17, 2023 /PRNewswire-PRWeb/ -- Gatekeeper, the leading Vendor & Contract Lifecycle Management (VCLM) platform, today announced a strategic growth investment from Vista Equity Partners ("Vista"), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. The investment, the Company's first external capital since inception, will accelerate platform innovation and go-to-market functions to expand its global footprint and capitalise on the growing demand for unified Vendor Management, Contract Management and Third-Party Risk Management solutions.
"Our vision is rooted in the convergence of vendor, contract and third-party risk management," said Patrick O'Connor, CEO and Founder of Gatekeeper. "Companies are increasingly looking to manage these disciplines in one place, and we're strongly positioned to capitalise on the opportunity with our long-term focus on unified platform capabilities. With Vista, we have a partner that shares our vision and provides the resources and expertise to define the future of VCLM."
As regulatory-conscious organisations scale and diversify vendor portfolios, procurement teams face increased risk in managing the complexities of contractual relationships. Gatekeeper streamlines this process by consolidating historically disparate vendor, contract and third-party risk management functions. With Gatekeeper, customers are provided visibility across all vendor and contractual relationships and the ability to automate their associated processes. Additionally, organisations can comply with relevant regulations through a range of monitoring tools and bespoke automation. Gatekeeper currently supports more than 300 customers to consolidate costs, allow procurement teams to focus on high-value work and achieve continual audit-readiness.
The investment in Gatekeeper was made by Vista's Endeavor Fund, which provides growth investments and strategic support to market-leading, high-growth enterprise software companies that have achieved at least $10 million in recurring revenue. Endeavor partnerships focus on growth, market strategy, talent and customer success – building enduring businesses designed to scale. Founders and management teams benefit from the expertise and support of Vista and its global ecosystem to deliver unparalleled value to their customers, unlock the potential of their employees and accelerate market leadership.
"Gatekeeper is a unique, founder-led business that's established a leadership position in a large and growing addressable market," said René Yang Stewart, Co-Head of Vista's Endeavor Fund and Senior Managing Director. "This is a testament to the Company's vision and ability to execute. We look forward to partnering with Patrick and the entire Gatekeeper team as they accelerate investments to support increased customer demand and gain further market traction."
Kirkland & Ellis LLP served as legal counsel to Vista. PEAK Technology Partners served as financial advisor and Travers Smith and Foley & Lardner LLP acted as legal counsel to Gatekeeper.
Gatekeeper is a Vendor & Contract Lifecycle Management (VCLM) platform, which helps customers manage their contract documents and vendor relationships through their full lifecycle.
By centralising all contract and vendor information into Gatekeeper, customers benefit from clear visibility of their contract and vendor data; time savings with the ability to securely delegate access to relevant internal and external information; advanced automation tools which can be used for simple tasks such as timely renewal reminders right through to complex, fully digitised business processes; and enhanced compliance and significant resource savings as a result of deploying Gatekeeper's AI and automation tools.
For more information, visit www.gatekeeperhq.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $100 billion in assets under management as of March 31, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.