New York-based KKR Invests in Rochester’s OneStream Software

KKR in New York has invested in Rochester’s OneStream Software, a corporate performance management solutions company. // Image Courtesy of OneStream Software

Rochester’s OneStream Software, a provider of cloud or on-premise corporate performance management (CPM) solutions for medium to large enterprises, Thursday announced it will receive an investment from New York’s KKR, funded through KKR’s private equity and growth equity funds. Details of the transaction were not disclosed.

KKR is OneStream’s first capital infusion from an external investor and comes after OneStream achieved nearly 500 percent growth over the last three years. The investment brings the company’s valuation to more than $1 billion.

“Since founding this company in 2010, after having been a part of the CPM market for 20-plus years, we set out to create a platform to break down the siloes across different functions within the office of the CFO to not only modernize it, but to revolutionize organizations,” says Tom Shea, CEO of OneStream.

“We have done this in a customer-centric way, in which every customer is a reference and has a platform to accelerate their digital finance transformation at their own pace. We are pleased to have an experienced investor like KKR back our platform and our vision for continued growth.”

OneStream’s platform consolidates corporate finance, local finance, and diverse operational business units in a single application. It streamlines processes including financial and operational planning, close and consolidation, compliance and regulatory reporting, and financial and business analytics.

The software is designed to support large-scale cloud deployments and can easily extend to address new functional requirements and digital transformation without disruption.

Upon closing of the transaction, Welsh; General David H. Petraeus, member of KKR and chairman of the KKR Global Institute; and Jim Miele, principal of KKR; will join OneStream’s board of directors.

Wells Fargo Securities served as exclusive financial adviser to OneStream on the transaction.