HICX secures £26.5m Series B funding from Wavecrest Growth Partners and Espresso Capital
The Series B round was co-led by Wavecrest Growth Partners and Espresso Capital to support ongoing corporate expansion.
HICX provides a low-code software platform that helps large enterprises manage supplier data and relationships. Major global brands utilise the system to build resilient supply chains.
HICX has secured £26.5m in Series B funding to support its growth in the enterprise supplier management sector. The investment was co-led by Wavecrest Growth Partners and Espresso Capital. The capital will enable the firm to further develop its low-code platform, which is deployed by global brands to streamline procurement and supply chain interactions.
The financing follows a period of heightened supply chain volatility that has underlined the need for better supplier data visibility. With backing from Boston-based Wavecrest and Toronto-headquartered Espresso Capital, HICX plans to expand its market presence and extend the capabilities of its supplier experience software.
From the founder
"At the most basic level, companies deliver value to customers through the combined effort of their internal teams and suppliers. Companies often under-invest in the supplier experience – in making it easy for suppliers to deliver their best work. However, we’ve seen a significant shift recently and many of the world’s leading brands are investing in technology to address this and to become ‘customer of choice’ for as many of their suppliers as possible."
Costas Xyloyiannis
CEO and co-founder at HICX
Investor perspective
"The last three years of global turmoil have highlighted the importance of the mutually beneficial customer-supplier relationship and yet the incumbent procurement and supply chain tech stacks often actually add friction and complexity. We have been super-impressed by the combination of HICX’s vision and the team’s ability to deliver large-scale solutions to the biggest and best global brands. HICX’s customers speak very highly of the company’s domain expertise and its solutions"
Vaibhav Nalwaya
co-founder and managing partner, Wavecrest Growth Partners
