Serent Capital has completed a growth investment in Procurement Partners, according to a news release.
Procurement Partners, based in Brookfield, Wis., is a provider of procure-to-pay solutions for healthcare providers. Founded in 2010, the company states that it offers complete procurement automation, including budget tracking, order placement, order processing, shipping and receiving, invoice processing, general ledger entries and reporting capabilities.
Serent Capital, with offices in San Francisco and Austin, Texas, is a lower-middle market private equity firm focused on investing in high-growth service and technology businesses. Founded in 2008, the firm typically commits $10 million to $50 million in equity in an investment in companies generating revenue from $5 million to $100 million.
Procurement Partners represents the ninth investment in the healthcare market for Serent Capital.
Terms of the investment were not disclosed.