We're excited to announce that Provalido has been acquired by Sievo, a Finnish company that provides actionable procurement analytics with offices in Helsinki, Chicago and Bucharest.

This acquisition marks a new chapter for Procurement Performance Management. It’s great news for our customers, as it will accelerate the development of the procurement performance management solution aswell as bringing integrated access to Sievo’s market-leading spend & ESG analytics as well as financial planning & analysis tools.  

In addition, being a company more than 40x bigger than before brings obvious resilience to our support, account management, and all facets of customer care.

Our goal as an organisation has long been to move beyond traditional savings tracking towards a procurement performance model that better aligns with true business impact, where insights generated by the tooldrive the targets and activity by which performance is then measured. It wouldhave taken a long time for Provalido to achieve this on its own, but with Sievo, much of this model already exists. Sievo already manages over 2% of theglobal GDP equivalent of enterprise spend annually. With a larger combined customer base, the scale and richness of processed data,and the resulting data products, will become increasingly valuable to our customers.

As part of the acquisition, Sievo will establish a permanent office in the United Kingdom, with Paul Gurr, Provalido's founder, continuing as Managing Director of Sievo UK. This will provide continuity and stability for Provalido’s existing customers, as well as a new local presence for Sievo’s customers in the UK.

We'd like to thank our all our customers over the last 13 years for being part of our journey and helping us to evolve the tool into what it is today. Provalido’s and Sievo’s values and vision are very much aligned and we are now in a really strong position to continue our journey for the benefit of all our current and future customers.

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