Globality offers an AI-first sourcing and procurement platform that combines domain-specific data, adaptive machine-learning models refined for procurement, and Gen AI to guide users through an intuitive, interactive experience. The company says customers reduce costs by 10%–20% across all spend while capturing 60%–90% operating efficiencies and achieving better business outcomes. Its platform is used by Fortune 500 customers including Fidelity, Santander, British Telecom, Tesco, IQVIA, T. Rowe Price, Invesco, Hewlett Packard, Dropbox, and Allegis Global Solutions. Led by CEO Joel Hyatt, Globality intends to use recent funds to expand operations and accelerate development efforts. The company raised additional capital in 2024, bringing its total capital raised to $356M. Headquartered in Palo Alto, California, Globality focuses on enterprise procurement modernization through AI. Globality is a Menlo Park, Silicon Valley–headquartered company co-founded by Joel Hyatt and Lior Delgo that provides an AI-powered digital solution for sourcing strategic services. Its platform automates demand creation, supplier identification, proposal evaluation and statement-of-work creation via a self-serve, consumer‑like interface. The company says the platform cuts the sourcing process from months to hours and delivers savings of 20% or more. Globality plans to use new funding to invest in additional AI capabilities, increase global scale and capacity, add engineering, product and client talent, and expand marketing and sales to acquire enterprise customers and channel partners. The business has raised $310.3 million in total since being founded five years ago. Globality positions its product as a digital replacement for the archaic RFP process to transform the multibillion-dollar B2B services sourcing market. Globality operates an AI-powered sourcing platform whose AI bot, Glo, uses natural language processing to create and analyze client Smart Briefs and match projects to providers. The platform searches a database of more than 17,000 potential providers across 100 countries and over 600,000 professionals, analyzing millions of data points to recommend matches. Globality says its approach cuts the sourcing/RFP cycle from months to hours and routinely delivers savings of 20% or more, including a cited project for a Fortune 100 financial institution that reduced cost by over 50%. The company plans to use the new capital to accelerate investment in its AI technology, hire additional engineering, product, and client teams, and expand marketing and sales to acquire enterprise customers. Founders named in the article are Joel Hyatt and Lior Delgo, and the company highlights a two-sided, international marketplace that aims to capture network effects as it scales. Globality operates a business-services marketplace that connects small and mid-sized service providers with large multinational buyers. Its platform uses machine-learning tools to process provider applications and match customers with vetted candidates, accelerating a traditional RFP process from months to two or three days. Access to the marketplace is invite-only and Globality vets providers for regulatory and professional capability, financial stability, employee count (fewer than 500 employees), and reporting/auditing standards. The company has onboarded roughly 1,000 small and mid-sized businesses from more than 70 countries. Globality plans to expand into global Fortune 1000 companies and is launching a European office in London; it is also launching a new consulting business led by Yuval Atsmon. The company raised $35 million in new financing backed by an international consortium of individual and institutional investors. Globality is a stealth-mode Menlo Park startup advancing a platform to facilitate cross-border trade. Co-founded in March 2015 by Joel Hyatt and Lior Delgo, the company combines artificial intelligence and human curation to enable small and midsize companies to participate in the global economy. Globality secured $27.25M in Series B funding. The company intends to use the funds to continue hiring talent to build and bring its new platform to market. Investors named in the round include Al Gore, Ron Johnson, John Joyce, Michael Marks and Ken Goldman. Following the raise, Globality added three new board members: Juliet de Baubigny (Kleiner Perkins), Mark Hurd (Oracle CEO) and Mark Vorsatz (Andersen Tax).

Total raised

$358M

Funding rounds

6

Latest round

Series D

Latest activity

Oct 2024