In 1995, four young friends had a revolutionary idea: let’s throw out physical product catalogs and put the information online.They understood the enormous business potential of technology for procurement.
A group of friends, Scott Andrews, Bobby Feigler, Keith Gunter, and Peyton Anderson, the first two working their day jobs in laboratory supplies, lunch at a Subway in North Carolina. They envision a virtual distributorship that would do away with rooms full of catalogs. SciQuest is born.
SciQuest presents its solution at the PittCon, the annual conference and trade show for analytical chemistry in Chicago. It is the most popular booth at the show with the pitch to visitors, “You’ll never have to deal with another sales rep.” It is the start of a tradition of a passionate commitment to customer focus.
SciQuest presents at trade shows across America and raises $700,000 of investment.
Further $2.5 million round of investment from Boro-Mosley and the Wakefield Group.
The dotcom bubble bursts. SciQuest has little revenue but is cash rich and acquires EMAX with its signature product, Enterprise Reagent Manager, a software solution that delivers immediate value to pharmaceutical clients. BravoSolution starts business in Italy and Pool4Tool near Vienna, Austria.
Software executive Steve Wiehe becomes CEO of SciQuest. BravoSolution changes its business model, moving from marketplace to the delivery of eProcurement and eSourcing solutions managed through vertical sector-focused digital platforms and enlarges its international presence, opening offices in Madrid and Paris.
Global pharmaceutical company GlaxoSmithkline (GSK) becomes a major client. SciQuest acquires HigherMarkets, which opens up the universities market, still a large part of Tejari’s customer base.
SciQuest goes private and transitions HigherMarkets to SciQuest SelectSite technology. BravoSolution celebrates its first € billion in transactions on its platforms and opens a new office in the UK.
BravoSolution acquires Verticalnet, Inc, one of the premier vendors of full-suite supply management software solutions. With this acquisition, BravoSolution extends its international presence to the USA, Mexico, China and the Netherlands.
Pool4Tool opens offices in Detroit and Singapore.
Second IPO for SciQuest. Gartner names BravoSolution a Leader in its “Magic Quadrant for Strategic Sourcing Application Suites” (again in 2013 and 2015).
SciQuest acquires AECsoft, provider of supplier management and sourcing technology.
SciQuest acquires Upside Software Inc., (contract lifecycle management) and Spend Radar LLC (spend analysis). BravoSolution enters the United Arab Emirates with a joint venture branded Tejari.
SciQuest acquires CombineNet, vendor of advanced sourcing software.
SciQuest is acquired by Accel-KKR, a private equity firm headquartered in Menlo Park, CA.
The company rebrands as Tejari and in June acquires Pool4Tool, now a leading provider of direct sourcing and supply chain management software. Tejari enters a joint venture with Tejari Solutions in the United Arab Emirates. In December it acquires BravoSolution.
Gartner names Tejari a Leader in its “Magic Quadrant for Strategic Sourcing Application Suites” and in its 2018 “Magic Quadrant for Procure-to-Pay Suites” (again in 2019 and 2020).
In February, Tejari launches the JAGGAER ONE platform, creating a complete source-to-settle solution for its entire product suite. In June, the UK-based private equity firm Cinven acquires a majority stake in the company and names Jim Bureau CEO.
Tejari assists clients across multiple sectors through the Covid-19 pandemic. Tejari launches the Human Equity Project and celebrates its first 25 years in business.
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