Houlihan Lokey Advises Insight Partners on its Investment in Xelix
Houlihan Lokey is pleased to announce that Insight Partners, a global software investor partnering with high-growth companies, has made an investment in Xelix, a leading provider of agentic AI accounts payable software.
Xelix provides agentic AI software in the accounts payable audit and controls space. Its AI-powered platform bolts onto existing ERP and finance systems to detect payment errors and fraud, automate supplier statement reconciliations, and streamline accounts payable helpdesk operations.
Trusted by global enterprises, including AstraZeneca, BAT, GSK, and Virgin Atlantic, Xelix helps finance teams reduce risk, unlock cost savings, and drive greater efficiency across accounts payable—achieving millions in cost savings while transforming costly, manual accounts payable processes into automated, intelligent workflows. The Xelix platform processes over 115 million invoices annually and audits more than $750 billion in spend across 130+ global customers. Xelix was founded in 2018 and is headquartered in London.
Following a period of significant, capital-efficient growth—driven by a differentiated product offering, massive customer ROI, and a deep commitment to client support and value realisation—Xelix has secured a $160 million Series B funding round, led by Insight Partners with follow-on investments from Passion Capital and LocalGlobe, to advance agentic AI innovation in accounts payable. This funding will enable Xelix to accelerate platform development and support more organisations in adopting AI for their finance operations.
Insight Partners is a global software investor partnering with high-growth technology, software, and internet startups and scaleup companies that are driving transformative change in their industries. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. As of 31 December 2024, the firm has more than $90 billion in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO.
Houlihan Lokey served as the exclusive financial advisor to Insight Partners. This transaction highlights Houlihan Lokey’s strength in business management software, office of the CFO software, and spend management software.
RELATED: Business Management Software, Mergers & Acquisitions