HICX raises $30M to give companies visibility into their supply chain
By TechCrunch’s Paul Sawers
HICX, a supplier experience management platform designed to give companies visibility into their supply chain, has raised $30 million in a round of funding led by U.S. private equity firm Wavecrest Growth Partners and Canada’s Espresso Capital. The funding constituted a mixture of $22 million equity and $8 million in debt.
Founded in 2004, London-based HICX serves a SaaS-based low-code platform that gives companies a single channel for onboarding new suppliers, replete with tools for capturing all the information that the various departments and systems within a company need. This also includes integrations with enterprise resource planning (ERP), purchase-to-pay (P2P) and supply chain management (SCM) systems, and serves to ensure that all stakeholders are working from the same information.
HICX also includes a dedicated compliance management toolset that ensures suppliers are compliant with all the tax, business, trade, diversity or sustainability stipulations that a company has.
Today’s announcement represents HICX’s first substantial external funding in its 18-year history, with a spokesperson telling TechCrunch that it was entirely bootstrapped since its inception until 2018, when it received a small “friends and family round” investment amounting to around $1 million. It has also amassed a fairly impressive roster of customers, including Unilever, Lenovo and BAE Systems.
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