OneStream Software to Receive Significant Investment from KKR

By: Banking CIO Outlook | Tuesday, July 30, 2019

ROCHESTER, Mich: OneStream Software LLC (“OneStream”), a leading provider of cloud or on-premise Corporate Performance Management (CPM) solutions for mid-sized to large enterprises, announced that it has entered into an agreement to receive a significant investment from KKR, funded through a combination of KKR's private equity and growth equity funds. The capital infusion is OneStream’s first from an external investor, after achieving nearly 500% growth over the last three years while maintaining strong profitability. The investment brings the company’s valuation to over $1.0 billion.

“Since founding this company in 2010, after having been a part of the CPM market for 20-plus years, we set out to create a platform to break down the siloes across different functions within the office of the CFO to not only modernize it, but to revolutionize organizations,” said OneStream CEO Tom Shea. “We have done this in a customer-centric way, in which every customer is a reference and has a platform to accelerate their digital finance transformation at their own pace. We are pleased to have an experienced investor like KKR back our platform and our vision for continued growth.”

OneStream’s platform is uniquely designed to address the complex requirements of corporate finance, local finance and diverse operational business units in a single application. Companies depend on OneStream to streamline multiple financial processes, including financial and operational planning, close and consolidation, compliance and regulatory reporting, and financial and business analytics. The software is architected to support large-scale cloud deployments and can easily extend to address new functional requirements and digital transformation without disruption.

OneStream’s business is expanding rapidly across new geographies, industries, and government agencies that are looking to modernize their finance functions and systems. The capital infusion will be used to accelerate investments in sales, marketing, product development and customer success to capitalize on OneStream’s strong momentum and increasing demand in new and existing markets, following record growth in 2018. Companies such as UPS®, Sagent Pharmaceuticals, Post Holdings, Inc., Fruit of the Loom, The Carlyle Group, Melrose PLC and many others depend on OneStream to streamline their multiple financial processes.

“Based on their more than two decades of experience developing software solutions for the office of the CFO, the OneStream team has taken a modern platform approach to addressing the complex financial structures facing large organizations today. As a result, OneStream’s platform is rapidly gaining mindshare as the high-quality and high-value alternative to maintaining cumbersome legacy applications,” said Dave Welsh, Member and Head of TMT Growth Equity at KKR. “We look forward to supporting the company with our proven capabilities to help our portfolio companies drive international expansion, scale operations, and enable access to a broader range of customers across industries and government.”

Upon closing of the transaction, General (Ret.) David H. Petraeus, Member, KKR, and Chairman of the KKR Global Institute; Dave Welsh, Member, KKR, and Head of TMT Growth Equity at KKR; and Jim Miele, Principal, KKR, will join OneStream’s board of directors.

Wells Fargo Securities served as exclusive financial adviser to OneStream on the transaction.

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