About SpendMend
SpendMend is a Technology company based in Grand Rapids (United States) founded in 1993, and was acquired by Sheridan in January 2018. Audit recovery and transaction management solutions are provided for businesses. SpendMend has completed 6 acquisitions, including Contract Management Strategies, Elevate340B and Rebate Insight. SpendMend offers products and services including Profit Recovery, Vendor Management, and Medical Device Tracking. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Record to Report. Its competitors include APEX Analytix, Technology Insight and Broniec Associates; 1 of its 3 listed competitors has raised funding.
Company details
SpendMend was founded in 1993 and is headquartered in Grand Rapids, United States. Solutions for audit recovery and transaction management are delivered to businesses in the financial sector. Services encompass accounts payable analysis, compliance monitoring, tax analysis, contract management, and spend analysis. Financial leakages are addressed through insights and analytics. Audits of accounts payable and vendor statements are performed, with data analytics algorithms applied to identify irregularities in financial records.
- InvestorsMorgan Stanley
& 5 more
- Investments & AcquisitionsContract Management Strategies
& 5 more
- Acquired bySheridan
(Jan 2018)
Products & Services of SpendMend
SpendMend offers a comprehensive portfolio of products and services, including Profit Recovery, Vendor Management, and Medical Device Tracking.
Service to recover overpaid amounts in healthcare contracts.
Manages vendor contracts to optimize spending and reduce costs.
Tracks medical devices to prevent financial leakages.
Funding Insights of SpendMend
- Total Rounds 4
- Investors Count 5
All 4 funding rounds of SpendMend with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | Series A | – | – | ||
| Mar 2022 | Series A | – | Morgan Stanley | – | |
| Jan 2018 | Private Equity Round | – | – | ||
| Jan 2018 | Debt – Conventional | – | – |
6 investors in total: 6 institutional.
Investors in SpendMend
SpendMend has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include Morgan Stanley, Cadence Bank and Memorial Hermann.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Healthcare sectors are targeted by this venture capital firm. | corewellhealthventures.org | Grand Rapids, United States | ||
PE firm investing in the US | 2007 | fdus.com | Evanston, United States | |
Sheridan Capital Partners is focused on healthcare private equity investments. | sheridancp.com | Chicago, United States | ||
Health system | 1907 | memorialhermann.org | United States | |
Wealth management, investment advisory, and financial services are provided. | 1935 | morganstanley.com | New York, United States | |
Commercial banking services are provided to businesses and individuals. | 1876 | cadencebank.com | Tupelo, United States |
Investor details for SpendMend
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- Complete investor list
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- Investor portfolios
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People of SpendMend
19 people are tracked at SpendMend (14 in leadership, 5 in team).
| Name | Role | Group |
|---|---|---|
Al Brander | Chief Sales Officer | Leadership |
Dan Geelhoed | CEO | Leadership |
Tom Flynn | VP, Marketing | Leadership |
Michael Williams | Managing Director | Leadership |
Roger Meyer | Chief Financial Officer | Leadership |
Rob Heminger | President & COO | Leadership |
Derick Elliott | Chief Commercial Officer (cco) | Leadership |
Curtis McEntire | VP, Trulla Solutions | Leadership |
Jeremy Toth | Chief Information Officer | Leadership |
Jeremy Malin | VP, Operations | Leadership |
Jake Thompson | VP, Pharmacy Services, Optimization & Growth | Leadership |
Alan Brander Rn Fache | Vice President Of Clinical Services | Leadership |
Stephanie Ziara | Regional Vice President | Leadership |
Tony Thornton | Regional Vice President Rebate Insights | Leadership |
Sara Patin | Controller | Team |
Hillary Norfleet | Web Developer & Google Ads Manager | Team |
Gastyn Carraher | Senior Healthcare Consultant | Team |
Rob Nahoopii | SVP, Pharmacy Services | Team |
Lisa Miller | MD, Purchased Services | Team |
Complete people profiles for SpendMend
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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- Board tenure
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Investments & Acquisitions by SpendMend
SpendMend has strategically engaged in corporate development activities, having acquired 6 companies. Notable acquisitions include Contract Management Strategies, Elevate340B and Rebate Insight.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Cloud based platform for supply chain analytics and management | rebateinsight.com | Los Angeles, United States | 2018 | Jun 2023 | •••• | |
Cloud-based software for pharmacy supply chain management is provided. | trullarx.com | Draper, United States | 2018 | Aug 2022 | •••• | |
Provider of hospital supply chain, contract management, and healthcare analytics services | viehealthcare.com | Wall Township, United States | 1999 | Aug 2022 | •••• | |
340B compliance solutions are provided for pharmacy operations. | elevate340b.com | Draper, United States | 2016 | Aug 2020 | •••• | |
Pharmaceutical distributors | turnkeyrxsolutions.com | Salt Lake, United States | 2012 | Aug 2020 | •••• | |
Healthcare tax consulting and recovery auditing services are provided. | contractmgmt.com | Irvine, United States | 2002 | Aug 2018 | •••• |
Complete acquisition details for SpendMend
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- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of SpendMend
10 dated milestones of SpendMend across 30 years, from founding to its latest funding, stage changes and deals.
- Founded SpendMend is founded.
- Funding First funding round.
- Exit Acquired by Sheridan.
- Acquisition Acquires Contract Management Strategies.
- Acquisition Acquires Elevate340B.
- Acquisition Acquires Turnkey Pharmacy Solutions.
- Acquisition Acquires VIE Healthcare.
- Acquisition Acquires Trulla.
- Funding Latest funding round, Series A,.
- Acquisition Acquires Rebate Insight.
Competitors of SpendMend
SpendMend has 3 listed competitors in our database, 1 of them funded. They include APEX Analytix, Technology Insight and Broniec Associates.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| apexanalytix.com | 1988 | Greensboro, United States | $7M | 316 | Audit and supplier management solutions are offered to businesses. | |
| technology-insight.com | 1999 | Boston, United States | 16 | Software for auditing accounts payable and detecting irregularities is provided. | ||
| broniec.com | 1972 | Atlanta, United States | 75 | Conducts accounts payable audits and recovers overpayments for businesses worldwide. |
Detailed competitors of SpendMend
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- Full competitor set
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Web traffic of SpendMend
The website of SpendMend (spendmend.com) receives about 4.8K visits a month.
- Monthly visits4.8K
▲ 1.9% vs previous month
Top companies in Finance & Accounting Applications
3 companies that operate in the same segment as SpendMend (Finance & Accounting Applications) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 |
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Related news about Spendmend
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Frequently Asked Questions about SpendMend
SpendMend was founded in 1993 and raised its 1st funding round 25 years after it was founded.
SpendMend is headquartered in Grand Rapids, United States. It is registered at Grand Rapids, Michigan, United States.
SpendMend was founded in 1993 and is headquartered in Grand Rapids, United States. Solutions for audit recovery and transaction management are delivered to businesses in the financial sector. Services encompass accounts payable analysis, compliance monitoring, tax analysis, contract management, and spend analysis. Financial leakages are addressed through insights and analytics. Audits of accounts payable and vendor statements are performed, with data analytics algorithms applied to identify irregularities in financial records.
SpendMend's top competitors include APEX Analytix, Technology Insight and Broniec Associates.
SpendMend offers Profit Recovery, Vendor Management, and Medical Device Tracking.
SpendMend has made 6 acquisitions, including Contract Management Strategies, Elevate340B, and Rebate Insight.
SpendMend has 6 investors. Key investors include Morgan Stanley, Cadence Bank, Memorial Hermann, Fidus Investment, and Corewell Health Ventures.
Yes. SpendMend was acquired by Sheridan in January 2018.