Spikes Cavell & Co
Public Sector Procurement Managment.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Spikes Cavell & Co. was established in 1991 by Luke Spikes and Roger England, positioning itself as a data analytics and business intelligence provider. The firm specialized in delivering spend analytics solutions, primarily catering to public sector institutions in the United Kingdom and higher education authorities in the United States.
The company's core offering was 'The Observatory', a proprietary online software platform that provided clients with detailed insights into their expenditure data. This tool served as a crucial diagnostic instrument for identifying potential cost savings, managing supply chain risks, and ensuring compliance with various diversity programs. The business model operated on a Software-as-a-Service (SaaS) basis, offering its analytics platform as a standalone product, which allowed for a low-priced entry point for new customers. Over its history, the company secured $4.6 million in funding over two rounds, with a notable Series A round in November 2009 raising $3.3 million.
A significant milestone in the company's trajectory was its acquisition by Xchanging plc, a business process and technology services provider, in February 2015. The deal was valued at up to $11.5 million and was a strategic move for Xchanging to enhance its procurement technology offerings. The acquisition integrated Spikes Cavell's analytics capabilities into Xchanging's existing platforms, aiming to provide a full-suite sourcing technology solution. At the time of the acquisition, Spikes Cavell served approximately 60 lead customers from its offices in Newbury, UK, and Herndon, Virginia, in the US. Subsequently, Xchanging, including Spikes Cavell, was acquired by CSC in May 2016.
Keywords: spend analytics, data analytics, public sector procurement, business intelligence, expenditure analysis, SaaS, procurement technology, supply chain risk management, government data, higher education analytics, The Observatory, data intelligence, cost savings analysis, compliance reporting, UK public sector, US higher education, government spending, financial analytics, procurement software