The sale comes simply 14 months after the 11-year-old procurement tech enterprise raised $4 million in VC funding after a decade of bootstrapping. The funds had been to sort out slavery dangers in firm provide chains as Fashionable Slavery legal guidelines got here into impact globally.
Portt has been working in partnership with Superior within the UK private and non-private sectors throughout a 12 months of fast enlargement for the enterprise. The acquisition is Superior’s tenth since 2020.
The British software program and providers supplier stated Portt is the quickest rising supplier of SaaS procurement, contract and provider administration options in Australia and New Zealand. It manages greater than 63,000 personal and public sector suppliers throughout ANZ for greater than 9,000 purchasers, together with the NSW Well being, NSW Schooling Division and Tremendous Retail Group.
Co-founded by co-CEOs Chris Holmes and Andre Pinkowski, the corporate has places of work in Sydney and Ho Chi Minh Metropolis, Vietnam.
Holmes stated they had been pleased with what Portt achieved over the last decade.
“As a quickly rising sourcing, contract, and provider administration platform, Portt believes closely within the energy of innovation to drive worth for the client,” he stated.
“Being a part of the Superior Household permits us to be part of a best-of-breed monetary and spend administration software program organisation, with our world class procurement expertise, delivering a power multiplier to clients.”
His co-founder Pinkowski stated the cultural match between the 2 companies is great.
“The acquisition will amplify what Chris and I’ve already labored arduous to realize, and we’re assured that our folks will soar on the nice alternative that exists being half of a bigger organisation who share our values,” he stated.
“Portt all the time had its eye on increasing outdoors of ANZ and given the commonwealth requirements adopted in our resolution the UK was probably the most logical place for us to focus. The mix of Superior’s sturdy UK presence with ambition to develop in ANZ, and our stable footprint in ANZ with ambition to develop to the UK makes it a win win.”
Superior CEO Gordon Wilson stated Portt’s expertise will ship better efficiencies and productiveness to clients.
“This acquisition represents one other vital step in our progress and worldwide enlargement technique, constructing on our already profitable footprint in Australia,” he stated.
“That is a particularly complementary acquisition strategically as we concentrate on constructing out our full ERP providing comprising Monetary, Spend and Folks Administration in each the UK and ANZ and one other vital addition of world class revolutionary expertise for our clients.”