Ivalua, a French SaaS (Software as a Service) procurement software publisher, has just raised US$60 million with its historic shareholders Ardian (formerly Axa Private Equity) and KKR, along with American investment fund Tiger Global Management, which acquired a stake in the business.

Valued at more than US$1 billion, Ivalua has joined the French pack of unicorns, which have been growing strongly since the turn of the year.

Founded in 2000 in Orsay by David Khuat-Duy, Ivalua has 400 employees, half of which are based in the United States, and revenues in 2018 approaching US$70 million, due to grow to more than US$100 million in 2019. It makes 60% of its sales internationally, mainly in the United States, and has already acquired major French clients, including Orange, Crédit Agricole, L’Oréal, Valeo, Total, Veolia and Michelin, among others.

This fundraising will enable the company to accelerate its investments in product innovation and international development, and to seize potential new external growth opportunities. Ivalua’s founders and management will retain a majority of the capital to ensure the long-term continuous strategic growth of the business.