News & Recognition

Press Release: Sievo Posts Record H1 2020 Revenue

Olli Saksa Sep 16, 2020

Sievo, a leading procurement analytics SaaS company, announces new customers and record revenue in Jan-July, new hires and an incoming CFO from Nokia.

CHICAGO, US, September 16, 2020 / -- Sievo this week reports record revenue in January-July 2020, as well as new customers including Citrix, Delivery Hero and Refresco. They've also strengthened their team with new hires and a new CFO who joins them from Nokia.

The B2B software market is expected to decline by upwards of 3% in the wake of Covid-19 according to Forrester Research, but Sievo is bucking this trend as enterprises seek better spend visibility and ways to accelerate data-driven savings. Sievo’s new sales grew by 59% year-over-year during January-July, with July new sales hitting an all-time record.

Growth came especially from the US market, where Sievo first opened its Chicago office in 2017 and has added new headcount during the summer. New customers come from a variety of industries including manufacturing, pharmaceuticals, consumer packaged goods and professional services. New Sievo customers include online food delivery platform Delivery Hero, CPG leader Refresco and digital workspace platform company Citrix.

“I want to thank all Sievonians for making growth possible during a year like this – it hasn’t been easy, but we have delivered. In addition to our internal efforts, this growth is also a testament to how relevant analytics is in tackling business during periods of high uncertainty, and how relevant procurement is to saving companies in supply crisis.” says Sammeli Sammalkorpi, cofounder and Group CEO.

Sievo also announces a new CFO and management team member, Cristian Arias (CPA, MBA). Arias joins them from Nokia, where he worked in several finance roles, most recently as Head of Transformation, leading financial and operational transformation.

“We’re seeing through this crisis that it isn’t size but agility that matters. Smart money is on the companies that use this period of intense change as a catalyst to reinforce their business models, and Sievo is definitely one of them. I got to know Sievo during my times in Nokia and I was impressed with their value proposition and the way they conduct business. I expect Sievo to be one of the key players in the industry - supporting companies in coming away from this crisis stronger, and focusing much more on how to act in a data-driven way.” says Cristian Arias.

Established in Finland in 2004, Sievo has long been a forerunner in procurement analytics software, offering spend analysis, savings lifecycle, spend forecasting, contract management, procurement benchmarking and 3rd party data enrichment solutions. Their customers base includes such multinational industry leaders as brewery group Carlsberg, telecom giants MTN and Telenor, facilities services provider ISS and elevator manufacturer Schindler Group.

About Sievo: Sievo helps businesses turn procurement data into dollars. By consolidating all procurement related data under one information hub, Sievo uncovers hidden value and provides insights for data-driven decisions. With AI-driven classification and data-driven external benchmarking, Sievo provides the leading procurement analytics solution powering procurement organizations worldwide. More information is available at