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Proactis secures significant investment from AshGrove Capital

Tuesday 29th August, 2023

Proactis has secured investment from AshGrove with continued support from its existing shareholders Pollen Street Capital and DBay Advisors.

The new funding supports plans to grow the UK, European, North American and APAC businesses both organically and via acquisition, with this endorsement affirming the strength and robustness of Proactis’ solutions and clear growth potential.

Proactis will continue to enhance its platform with AI and machine learning capabilities, increasing user productivity as well as supporting customers with meeting the evolving compliance landscape such as the Procurement Bill and eInvoicing regulations.

“We are excited to partner with AshGrove, and thrilled by the potential this investment brings. It will strengthen our position to continue supporting our customers in a dynamic and changing market,” says Proactis CEO, Stephen Line.

AshGrove, a London-based investor focused on supporting high-growth companies in the European software and services sectors, said: “AshGrove is pleased to announce our investment in Proactis, a leading Source-to-Pay software solution. Proactis' Rego platform enables organisations to control spend, manage supply-chain risk and improve compliance and governance of purchasing activities through process digitisation and automation.”

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Avalara

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, eCommerce and other financial management system providers, Avalara delivers cloudbased compliance solutions for various transactional taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Canada, the U.K., Belgium, Brazil, and India.