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Oversight has been acquired by TCV

Oversight Systems Profile

  • Oversight Systems, a portfolio company of Luminate Capital, is the global leader in spend management technology for the world’s largest companies and government agencies
  • Oversight’s AI-powered spend management platform monitors and analyzes 100% of spend transactions, reducing audit effort and eliminating data silos
  • Will full visibility into spend, Oversight’s customers find and prioritize spend risk that would go otherwise undetected – reducing out-of-policy spend by 70% while maximizing audit efficiency and eliminating cash leakage
  • Oversight Systems was founded in 2003 and is headquartered in Atlanta, GA

TCV Profile

  • TCV provides capital to growth-stage private and public companies in the technology industry
  • TCV has invested over $13 billion in leading technology and tech-enabled companies through over 120 IPOs and strategic acquisitions
  • TCV was founded in 1995 and is headquartered in Menlo Park, CA, with offices in New York and London

Luminate Capital Profile

  • Luminate Capital is a private equity firm focused on making investments in growth-oriented software companies
  • Luminate partners with management teams to provide capital to drive strategy, growth and operational improvements
  • Luminate Capital was founded in 2014 and is headquartered in San Francisco, CA
TCV brings to the table a rich portfolio of growth-stage companies in the technology industry. Their expertise and track record of taking companies to the next level fits perfectly for our vision for Oversight.

Terrence McCrossan

CEO, Oversight Systems

Oversight’s platform uniquely addresses the spend risk that is inherent in today’s enterprise organizations. We are impressed with the company’s extensive portfolio of enterprise customers and look forward to partnering with Terrence and the entire Oversight team to capitalize on further growth opportunities.

Tim McAdam

General Partner, TCV

Since our initial investment in 2016, Oversight has realized tremendous year-over-year growth, signifying the value automation and AI capabilities inject into finance operations. We are excited to join forces with TCV and Oversight to help more organizations realize the benefits of finance transformation.

Hollie Haynes

Management Partner, Luminate Capital

Transaction Notes

  • TCV’s acquisition of Oversight Systems was announced on September 2, 2020; financial terms were not disclosed
  • Shea & Company served as the exclusive financial advisor to Oversight Systems
Read The Press Release