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Carlsquare advised spend analytics software technology company Orpheus GmbH on the sale to McKinsey

Carlsquare advised Orpheus GmbH, a VC-funded provider of procurement controlling analytics software, on the sale to McKinsey. Founded in Germany in 2005, Orpheus’ software helps organisations optimise their external expenditure throughout their operations by analysing purchasing data streams for value capture opportunities and measuring realised procurement impact applying artificial intelligence solutions. Orpheus’ managing shareholders and the institutional investors, Unternehmertum Venture Capital Partners GmbH, Senovo Capital Management GmbH and KfW, have now realised the next growth step through the sale to McKinsey.

With this acquisition, McKinsey brings a new offering to clients: Spend Intelligence by McKinsey—a service that will enable spend transparency, spend and cost analytics, and value capture management. The offering is a powerful combination of Orpheus’ advanced platform technology, and McKinsey’s industry expertise and content-rich services in digital procurement.

Based in Nuremberg, and today with a robust set of clientele across industry sectors, Orpheus has a reputation for delivering quality and value in solution areas including automated data extraction; AI enabled spend categorization; and spend and category prescriptive and predictive analytics, including software agents (BOTs) and procurement impact tracking.

By infusing best-in-class technology and AI-based analytics with deep supply-market and category-sourcing expertise, and by innovating with service delivery models including outsourcing, Spend Intelligence by McKinsey helps clients unlock value in their purchasing data: actionable insights that help capture more impact in procurement, sustainably.

Spend Intelligence by McKinsey will be a core element of the digitally-enabled procurement function of the future, involved in all business value chain activities from product development to distribution, and playing a strategic role in managing budgets and costs, anticipating and mitigating supply risk, and driving compliance.

Philipp Radtke, McKinsey Senior Partner and global co-leader of the Operations Practice, said: “We’re delighted to welcome Orpheus GmbH to McKinsey. The new service will offer clients deeper and more consistent insights into opportunities for spend optimization through an innovative combination of data, software, category sourcing expertise, and services.”

Jörg Dittrich, Orpheus CEO, said: “Orpheus is excited about joining forces with McKinsey. Together we can create a much richer solution and service offering that – with a single focus on driving impact for clients – is truly something new and differentiated in the space.”

Carlsquare acted as the exclusive financial advisor to the shareholders of Orpheus GmbH.

Client: Orpheus
Industry: Software
Assignment: Sellside
McKinsey & Company