Glantus

Glantus is an Irish company that offers an accounts payable (AP) automation and analytics platform. Through its “Intelligent AP Automation” solution, users can automate the invoice data capturing, approval, reporting and reconciliation processes. Users can also leverage “Advanced AP Analytics” to gain spend insights and track KPIs by connecting several financial data sources within the business. Glantus’ “Active AP Discovery” lets users monetize on APs by auditing them to identify vendor credit recoveries and detect AP anomalies. 

Glantus can be integrated with a range of ERP and financial softwares, including SAP, Microsoft Dynamics, Sage, NetSuite, and Xero. The company also launched the “DataShark AP” automation solution, which it claims can audit APs better than third-party ERP systems in spotting duplicate payments. DataShark was designed for mid-to-high volume environments, where more than 100,000 invoices are handled annually. 

The company has a global presence, with offices in London and California, complementing its Dublin headquarters. 

Key customers and partnerships

Glantus has over 300 customers in more than 50 countries as of May 2022 and handled over USD 1 trillion in spending. Its customers include several global enterprises such as Aramak, easyJet, Abbott, and Tata. 

The company has expanded its presence through several acquisitions. It acquired Technology Insights, an American company providing tools to identify duplicate payments, for USD 9.3 million in July 2021. The move was to support Glantus’ expansion in the US, and it brought Glantus over 35 global customers including Fortune 500 and Fortune 1000 companies. The company then acquired Meridian, a British AP management solution provider for the telecom and utility sector, in November 2021, to access 45 customers including some from the UK government and semi-state sectors.      

Glantus also partnered with supplier data foundation Tealbook, in April 2022, to enable Glantus customers to expand their supplier network. 

Funding and financials

Glantus was listed on the London Stock Exchange in May 2021, where it raised GBP 10 million through the IPO (USD 12 million), at a GBP 37 million (USD 45 million) valuation. The company generated EUR 8.2 million (USD 8.7 million) in revenue in 2020, while operating profit amounted to EUR 0.47 million (a 5.7% operating margin).

In August 2023, Finnish AP automation and invoice processing solutions provider Basware's wholly-owned subsidiary, Genesis Bidco Limited, announced its intention to acquire Glantus for GBP 17.8 million (USD 22.6 million). The deal was completed in October 2023.