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PunchOut2Go Receives Significant Growth Investment From Susquehanna Growth Equity

PunchOut2Go receives a substantial growth investment to support the global expansion of its B2B eCommerce integration and automation services.

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6-15-Growth.pngWe’re excited to announce that PunchOut2Go has received a substantial growth investment from Susquehanna Growth Equity (SGE), an entrepreneur-focused investment fund. This is PunchOut2Go’s first external investment since we were founded by Brady Behrman and Shawn McKnight a decade ago. The investment furthers our mission to connect B2B suppliers and buyers while supporting our global expansion amid growing demand for procurement automation solutions.

Following the investment, Troy Lynch has transitioned from President and Chief Strategy Officer to CEO and Steve Shaffer has assumed the role of President and Chief Operations Officer, while co-founder Brady Behrman takes up a new role as Chief Strategy Officer. 

"We are humbled by what Brady and the team have built, and incredibly excited to partner with the Susquehanna Growth Equity team," said Troy Lynch. "SGE’s investment will be used to extend our platform, support deeper connections with our customers and their trading partners, and expand our team’s global footprint so we can better serve PunchOut2Go’s global network of customers and partners."

PunchOut2Go’s core mission to connect supplier eCommerce platforms to buyer eProcurement systems is more vital than ever. Our Integration Platform as a Service (iPaaS) empowers PunchOut2Go customers with increased automation and reduced processing costs while eliminating manual work associated with ordering, order approval, and invoicing. We have facilitated over $200 billion in transaction volume and over 30 million transactions in the last year alone. 

The COVID-19 pandemic saw a worldwide acceleration of digital transformation and eCommerce adoption among B2B businesses. More B2B suppliers and buyers than ever before require the universal integration and automation enabled by PunchOut2Go’s technology and expertise. The investment and new leadership team will allow PunchOut2Go to grow its global presence and provide deeper connections with a richer automation experience to its customers. 

“Since our inception, we’ve been at the center of reducing transaction friction between buyers and sellers,” said Brady Behrman, Co-Founder and Chief Strategy Officer of PunchOut2Go.  “We now have the leadership team and resources in place to grow our business to extend the value we deliver to current and new customers. Moreover, the COVID-19 pandemic has dramatically accelerated the shift to online in B2B commerce. I could not be more excited for what’s to come for PunchOut2Go.”

PunchOut2Go facilitates integration that supports powerful B2B transaction automation features, including PunchOut catalogs, purchase order automation, electronic invoicing, eQuotes, and advanced shipping notifications. As eCommerce becomes ever more critical to B2B sales, suppliers face increasing demand for integration—many buyers won’t transact with suppliers who can’t integrate with their eProcurement and ERP systems. 

Before PunchOut2Go, integration required expensive custom development work to connect eCommerce stores with the hundreds of incompatible systems used by buyers. PunchOut2Go's key innovation is universal integration. Our iPaaS can connect any eCommerce store to any buyer system, translating data as it flows between platforms and enabling a wide range of digital procurement capabilities. 

"We are thrilled to partner with PunchOut2Go,” said Ben Weinberg, Managing Director at SGE. “B2B commerce is moving online at an incredibly rapid pace. At the same time, it’s difficult for buyers and suppliers to connect their systems. PunchOut2Go makes these connections easy, which is why thousands of suppliers and buyers use PunchOut2Go to connect with their trading partners. We look forward to supporting Troy, Steve, Brady and the rest of the PunchOut2Go team in the next phase of the company’s growth.”

To learn more about the PunchOut2Go iPaaS, PunchOut catalogs, purchase order automation, and eProcurement integration, complete the form below and an integration expert will contact you soon. 

Find the complete press release here.

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