Private equity major KKR has given OneStream Software a valuation of more than $1bn by investing in the company through its buyout and growth funds.
OneStream provides cloud or on-premise Corporate Performance Management (CPM) products for mid-to-large enterprises, aiming to simplify financial consolidation, planning, reporting, analytics and financial data quality.
The capital infusion is OneStream’s first from an external investor, and comes with the business having achieved nearly 500 per cent growth over the last three years while maintaining strong profitability.
Companies using OneStream’s software to date include private equity giant Carlyle, UPS, Fruit of the Loom and Post Holdings.
KKR head of TMT growth equity Dave Welsh said, “Based on their more than two decades of experience developing software solutions for the office of the CFO, the OneStream team has taken a modern platform approach to addressing the complex financial structures facing large organizations today.
“As a result, OneStream’s platform is rapidly gaining mindshare as the high-quality and high-value alternative to maintaining cumbersome legacy applications.
“We look forward to supporting the company with our proven capabilities to help our portfolio companies drive international expansion, scale operations, and enable access to a broader range of customers across industries and government.”
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