CRANBERRY TOWNSHIP, Pa. , Oct. 8, 2024 — Green Cabbage, the global leader in spend analytics and the only cost-reduction company that offers a subscription-based model with a savings guarantee, today announced its Series A funding by Sorenson Capital. The new funding will bolster Green Cabbage’s continued expansion, supporting its mission to drive innovation in procurement and workforce market intelligence. The partnership strengthens Green Cabbage’s ability to scale its operations and enhance the rapid development of its offerings both domestically and internationally.
“We are excited to bring on outside capital for the first time to supercharge our customer offerings”, said Eric V. Cunningham, CEO of Green Cabbage. “Sorenson’s investment validates our vision and the continuous value we’ve delivered to hundreds of new clients this year alone. With Sorenson Capital’s support, we will continue to expand our footprint and provide groundbreaking solutions that enable clients across the globe to optimize their supplier agreements and maximize savings.”
Technology is one of the largest expenditures for companies, and the cost of technology contracts keeps rising. Companies often lack the skills, time and resources to compare those contracts and negotiate optimally with suppliers. “There is a fast-growing interest from companies of all sectors to seek actionable savings on their technology costs, and Green Cabbage has the unique combination of data, expertise and supplier connections to find the best legal and business terms,” says Cunningham, adding “this investment will fuel Green Cabbage’s growth strategy, allowing the company to drive even more substantial savings for its customers. Both Green Cabbage and Sorenson Capital are committed to pushing the boundaries of procurement excellence.”
“We are very pleased to partner with the Green Cabbage team in providing excellent cost-saving and workflow solutions to procurement executives around the globe,” shares Brady Broadbent, Partner at Sorenson Capital. “Eric and his brilliant team have built an outstanding procurement solution and will lead procurement innovation in the future.”
About Green Cabbage:
Green Cabbage is the global leader in Technology & Contingency Workforce Market Intelligence. Our secure platform ensures swift operations, offering detailed comparisons at the Micro-SKU level, alongside comprehensive business and legal term insights. Green Cabbage enables private equity firms, consulting companies, and B2B enterprises worldwide to achieve savings of 15-30% on supplier agreements. With expertise spanning pricing, licensing, negotiation, audit defense, legal guidance, and training, Green Cabbage empowers clients to secure the best prices and overall agreements, optimizing procurement processes efficiently.
About Sorenson Capital:
Sorenson Capital is a leading venture capital firm focused on investing in early and growth-stage B2B software companies in the application layer, artificial intelligence, cybersecurity, data, and infrastructure sectors. With over $1.4 billion of assets under management, the firm supports entrepreneurs through every stage of their journey to accelerate revenue growth and further their product leadership position.
Media Contact: Alex Fochler, [email protected]
SOURCE Green Cabbage Inc.
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