Xeeva

About Xeeva

Xeeva, founded in 2014 by Dilip Dubey, operates as a specialized provider of cloud-based procurement and spend management software. The company was established to address critical issues in indirect spend, focusing on data visibility and intelligence. Dubey, an experienced entrepreneur with multiple ventures in the AI and technology sectors, including Netlink Software Group America, Inc., brought his extensive background in AI-driven transformation to shape Xeeva's direction. His work has been recognized with honors such as Ernst & Young's Entrepreneur of the Year. A significant milestone in the company's history was a Series B funding round on April 12, 2018, where it raised over $40 million, led by PeakEquity Partners, to fuel growth and enhance its product suite. In a strategic move to expand its market presence, Xeeva was acquired by Simfoni, a digital procurement solutions provider, on November 28, 2022.

The firm's business model centers on providing a suite of software-as-a-service (SaaS) solutions to midsize and large enterprises, helping them optimize the entire procurement process for indirect spend—goods and services not directly used in production. Revenue is generated through these software solutions that automate the source-to-pay process. Xeeva's core offering is its patented XVA Platform, which utilizes artificial intelligence and machine learning to cleanse, categorize, and enrich clients' spend data, providing detailed visibility and actionable insights. This data-driven approach allows clients to identify savings opportunities, improve compliance, and increase operational efficiency.

Xeeva's product portfolio is designed to manage the full source-to-settle lifecycle. Key products include Spend Analytics for actionable insights from a consolidated data view; Data Enrichment to enhance imperfect spend data down to the part-number level; Sourcing to identify optimal suppliers and reduce contracting time; and a Procure-to-Pay solution for managing all goods and services procurement. A notable feature is the Xeeva Marketplace, which provides access to a large network of vetted suppliers, often with preferential pricing, to streamline the purchasing process and reduce the need for extensive sourcing events. By consolidating spend-related activities into a single platform, Xeeva enables clients to manage maverick spend, tail spend, and spot buys more effectively.