KKR Completes Acquisition of MYOB

KKR

SYDNEY–(BUSINESS WIRE)–May 8, 2019– Global investment firm KKR and leading Australian online business management company MYOB Group Limited (“MYOB” or the “Company”) today announced the completion of the previously announced acquisition of MYOB by KKR.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190507006190/en/

David Lang, Member at KKR, said, “MYOB is a true leader in the growing and innovative business solutions software segment. We are excited to partner with and support MYOB as it accelerates the company’s growth plans in Australia and New Zealand while also exploring the significant opportunities it has to offer its customers new products and solutions.”

Tim Reed, CEO of MYOB, said, “The past year has been an eventful one for MYOB in which we accelerated our investment in the MYOB Platform and fast-tracked its delivery to our customers. This rollout helped us to achieve even greater online subscriber growth and propelled us to a leading position in Australia and New Zealand’s online accounting market. Now with KKR’s support and expertise, we are even better positioned for future growth. I am confident the business will continue to thrive well into the future, and am excited to embark on MYOB’s next chapter.”

MYOB entered into a Scheme Implementation Agreement with KKR on December 23, 2018, under which KKR proposed to acquire all the MYOB shares it did not already own. MYOB shareholders voted in favour of the Scheme on April 17, 2019, and implementation took effect today.

KKR’s investment in MYOB was made from its flagship Asian Fund III.

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About MYOB

MYOB Group Ltd is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media:
For KKR
KKR Asia
Anita Davis
+852 3602-7335
Anita.Davis@KKR.com

KKR Americas
Kristi Huller / Cara Major
+1 212-750-8300
Media@KKR.com

Newgate Communications (For KKR Australia)
Miche Paterson
+61 400 353 762
miche.paterson@newgatecomms.com.au

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Hg invests in Litera Microsystems

HG Capital

Transaction will be Hg’s sixth legal and compliance business in the current portfolio

7 May 2019. Hg announces today that it will invest in Litera Microsystems (“Litera”), a leading provider of end-to-end document lifecycle solutions to the legal and life sciences industries worldwide, headquartered in Chicago. Terms of the transaction are not disclosed.

Based in London, Munich and New York, Hg is a specialist private equity investor focused on software and service businesses, committed to building businesses that change the way we all do business, through deep sector specialisation and dedicated operational support.

Litera has developed a leading suite of legal document productivity applications, delivered as an end-to-end platform to more than 1,300 organisations across the globe. Based in Chicago, New York and London, Litera provides a suite of best-in-class productivity tools that help customers to focus on what matters: creating the highest quality documents.

The investment in Litera follows one of Hg’s core investment theses, focused on the secular growth of software suppliers for business-critical functions in the legal and regulatory compliance sector. Hg has been actively following this theme for over 15 years, with Litera representing the sixth legal and compliance business currently in Hg’s portfolio, with others including STP, a leading provider of insolvency and law practice software in Germany; and Mitratech, a leading global provider of Enterprise Legal Management (‘ELM’) software to corporate legal departments, based in Austin, Texas.

Hg’s team has known Litera for several years, recognising it as a business solving mission-critical workflows for its customers, leading to strong recurring revenues and displaying the same growth characteristics as many others in the Hg portfolio. The investment will be made from Hg’s Genesis 8 Fund which, following the completion of this transaction, will be 54% invested across 7 software and service businesses.

Ben Meyer, Jean Baptiste Brian and Hector Guinness at Hg, said: “We have been very impressed with Litera’s great track record of delivering innovative products that change the way legal professionals work, with an unmatched record of excellent customer support and satisfaction. We look forward to working closely with Avaneesh and his team to continue the success of this company”.

Avaneesh Marwaha, CEO of Litera, said: “Over the last few years, Litera has experienced great success in creating a platform for long term growth.  As we looked for the next partner to align the business with, Hg stood out.  Leveraging Hg’s support and their experience in software, legal, life sciences and global expansion will enable Litera to reach new levels of success with confidence, whilst also allowing us to further invest in our people and culture. We look forward to partnering with Hg and developing new products and capabilities to continue to meet the evolving needs of our customers.”

Hg were advised by Evercore (M&A), EY (Financial & Tax), Deloitte (Financing), PWC (Commercial) and Skadden (Legal). Litera were advised by William Blair.

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Herkules sells Puzzel to Marlin Equity Partners

Herkules
Herkules Private Equity Fund III (“HPEF III” or “Herkules”) is pleased to announce the sale of Puzzel AS (“Puzzel”). On 12 April 2019, HPEF III entered into an agreement to sell Puzzel, a leading European provider of cloud-based contact center software solutions, to Marlin Equity Partners.
During the Herkules ownership, Puzzel was transformed into a SaaS business. Significant investments were made into the software platform. Today, the company has a comprehensive multi-channel CCaaS solution that is both scalable and flexible, and designed to support contact centers of all sizes. The company combines its omni-channel technology with artificial intelligence capabilities to provide comprehensive, end-to-end customer interaction solutions in an age of digitization.As part of the Herkules value creation plan, Sales & Marketing was strengthened and Puzzel has experienced strong software growth across Europe that has been fueled by feedback and advocacy from market-leading customers.
In 2018, Puzzel was recognized as a Challenger in the Gartner Magic Quadrant report for Contact Center as a Service in Western Europe for the fourth consecutive year given its strong growth, functional capabilities, strengths in standards and compliance, customer service and support.Puzzel is headquartered in Oslo, Norway, with offices in six European markets including the U.K and the company serves more than 900 customers across 40 countries.“Puzzel’s leading position in the market, knowledgeable employees and pioneering technology platform positions them well to continue to successfully scale their business,” says Gert Munthe, Partner at Herkules Capital.
 

The exit process was advised by Carnegie Investment Bank, Wiersholm, PwC, and BCG. It was strong interest from both Industrial buyers and financial sponsors.

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TID Informatik becomes part of the SCHEMA Group

ik-investment-partners

The SCHEMA Group (SCHEMA) is expanding its previous 27% shareholding in TID Informatik GmbH (TID) to 100%.

TID Informatik GmbH (TID), headquartered in Inning am Ammersee and with a branch in Amberg, Germany, produces the CATALOGcreator® software and specializes in electronic spare parts catalogs and the management of service and spare parts information. With its products SCHEMA ST4 and SCHEMA CDS, SCHEMA is the leading manufacturer of professional software solutions for product and process documentation.

As a new wholly-owned subsidiary of the SCHEMA Group, TID Informatik will continue to operate as an independent company on the market alongside SCHEMA Consulting and SCHEMA Systems. The previous managing directors, founders Robert Schäfer and Rafi Boudjakdjian, will continue to run TID Informatik GmbH as managing directors.

With this acquisition, the SCHEMA Group is expanding its portfolio as a provider of system solutions for content lifecycle management. With more than 300 customers from various industries, TID Informatik is the leading producer of software for the creation of electronic parts catalogs and service information systems. TID has recorded strong and profitable growth in recent years and employs around 50 people at its Inning am Ammersee and Amberg locations. The SCHEMA Group has thus grown to a total of 180 employees.

“I am delighted that TID Informatik and SCHEMA will be working even more closely together in the future. Through integrated software solutions and services, we can offer a unique platform for digitization and automation of product and service information,” explains Robert Schäfer, founder and Managing Director of TID Informatik GmbH.

“We are pursuing the same strategic goals together and complement each other perfectly,” emphasizes Marcus Kesseler, founder and Managing Director of the SCHEMA Group.

“Digitization and Industry 4.0 is based on professionally created, digitized and integrated product and service information. Together, we can offer our customers a unique product and service offering.”

What is SCHEMA?
The SCHEMA Group was founded in Nuremberg in 1995 and is a medium-sized software manufacturer with more than 130 employees. The SCHEMA Group produces component content management and content delivery solutions for editorial offices that create product-related content. Software from SCHEMA helps companies to describe complex products and to produce and distribute these descriptions on different media.

The XML editing system SCHEMA ST4 is one of the most widely used systems for the modular creation of documentation, package inserts and marketing materials. The system covers all areas of creation, versioning, variant control, translation, administration and publication of product-related content – from authoring support during input to the finished layout for the print catalog.
The SCHEMA Content Delivery Server offers companies a standard solution for automatically distributing intelligent information created in editorial systems to end users in a targeted and context-specific manner. This ensures that exactly the right information arrives automatically on mobile devices.

SCHEMA’s software solutions are used by more than 500 customers in the mechanical engineering, automotive, information technology, electronics, medical technology and pharmaceutical industries. Customers such as ABB, Agilent, Andritz, Bentley, Bombardier, Bosch, Bundesanzeiger, Carl Zeiss, Caterpillar, Daimler, Datev, Doppelmayr, General Electric, KSB, MAN, Miele, Österreichische Bundesbahnen, Philips, Porsche, Roche, Schaeffler Group, SEW Eurodrive, Siemens, SMA, Toyota, TüV, Voith and Wincor Nixdorf and many others rely on SCHEMA systems.

SCHEMA. Complex documents easy. www.schema.de

Translated with www.DeepL.com/Translator

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Industrifonden leads Series A round in IIoT pioneer Crosser

Industriefonden

We are glad to welcome the team at Crosser to the portfolio, as the company has closed a EUR 3 million financing round to support international expansion.

Together with German early stage tech VC 42CAP, we led the round, with participation from existing investors Spintop Ventures, Almi Invest and Norrlandsfonden.

With the IoT market growing in a rapid pace, we spend a lot of time thinking about industrial IoT and the next paradigm shift for the industry: industry 4.0. Crosser stands out because they understand the big picture, and has built a platform that complements and improves the customers’ existing technology. We are really excited about this partnership and what it will bring, says Martin Gemvik, Senior Investment Manager at Industrifonden.

Factory/Asset owners and machine builders are looking into digital solutions to increase uptime, optimize processes and find new business models. The Crosser real-time analytics platform helps enterprises to integrate the machine world with the rest of their business and accelerate their digital transformation.

We are very pleased to have two new investors with a strong interest in industrial technologies, says Martin Thunman, CEO and co-founder of Crosser. This round of funding enables us to expand internationally, build out our partner ecosystem and to invest further in the development of our platform. The first step will be to expand into Germany, the leading industrial country in Europe.

Crosser recently announced its “Bring Your Own AI” strategy with support for a variety of third-party machine learning frameworks and an open ecosystem approach for machine learning algorithms in the Edge. The Crosser platform offers a unique simplicity to deploy and orchestrate advanced machine learning algorithms, data processing, analytics and data integration in the Edge at scale.

More on Crosser

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Dynamo Software Acquires Preqin Solutions

Franciso Partners

Dynamo expands private equity monitoring and valuation capabilities with the acquisition of leading cloud software provider Preqin Solutions, a subsidiary of London-based Preqin Limited

Dynamo Software, the premier provider of comprehensive cloud software and data solutions for the alternative investment industry, announced today that it has acquired Preqin Solutions, formerly Baxon Solutions. Based in London, Preqin Solutions provides cloud-based software for private equity portfolio monitoring, valuation, performance analysis, and ESG impact design and measurement. The acquisition adds significant value across Dynamo’s existing client base of over 500 private fund managers and allocators that use Dynamo’s CRM, deal management, portfolio monitoring, and investor reporting capabilities.

Preqin Solutions’ software enables a broad range of functionality that speeds the collection, transfer, and analysis of data across a private equity portfolio. Key components include the automation of monthly and quarterly performance data collection from underlying portfolio companies; the ability to seamlessly feed data into valuation, cap table and waterfall models; and the inclusion of key market and performance data from Preqin and other third-party data sources. Preqin Solutions’ market-leading features add a new dimension to the Dynamo platform and are clear differentiators in the marketplace. Importantly, the addition of Preqin Solutions’ global customer footprint and employee base brings unique reach and expertise to Dynamo’s product development and client success teams, significantly expanding Dynamo’s existing London and APAC presence.

Dynamo Software and Preqin Limited maintain a long-standing relationship under which Dynamo has utilized Preqin’s data in its core CRM platform, offering customers the ability to access market participant data easily via browser or mobile device. As part of the acquisition, Dynamo and Preqin Limited are strengthening their partnership to facilitate a seamless transition for Preqin Solutions customers and staff and to ensure that existing and new customers can continue to benefit from the Dynamo platform, Preqin Solutions portfolio tools and Preqin data.

“We are excited to welcome the Preqin Solutions team to the Dynamo family and expand our platform with the unique capabilities their system offers.”, commented Hank Boughner, Dynamo’s CEO. “Preqin Solutions’ cloud software is a perfect complement to Dynamo’s deal management, middle, back office, and LP reporting features and will extend the functionality and services we are able to provide to our clients investing in private assets. We look forward to a long-term partnership with Preqin Limited as we continue meeting the needs of sophisticated customers in the alternative investment space.”

Mark O’Hare, founder and Chief Executive of Preqin, added: “We are very pleased to combine the Preqin Solutions business with the Dynamo cloud platform, and we know that Preqin Solutions clients and employees will be in great hands as part of the global Dynamo family. We look forward to continuing our mutually beneficial partnership by ensuring a seamless transition for all Preqin Solutions customers, and by providing Preqin’s high-quality data for use across the Dynamo client base.”

Chris Ferguson, the current CEO of Preqin Solutions, added, “We are thrilled about what Dynamo can offer the business – this move will be of great benefit to both Preqin Solutions’ employees and customers. Going forward, the business will have the best of both worlds: operating as part of a specialist, best-in-class software house while maintaining close ties and data integrations with a market-leading data provider.”

Specific terms of the deal were not disclosed.

Marlin & Associates acted as exclusive strategic and financial advisor to Preqin.

About Dynamo Software

Dynamo Software has provided industry-tailored, highly configurable investment management, reporting and data management cloud software solutions to the global alternative investment industry since 1998. Dynamo provides SaaS solutions across the private investment landscape including: private equity and venture capital funds, real estate investment firms, hedge funds, endowments, pensions, foundations, prime brokers, funds of funds, family offices, and fund administrators. The Dynamo™ platform has improved the productivity of fundraising, deal, management, research, investor servicing, portfolio management, and compliance teams worldwide. Collectively, Dynamo’s 500+ clients manage over $3 trillion in assets.

For more information about Dynamo Software, please visit www.DynamoSoftware.com.

About Preqin

Preqin is the home of alternative assets, providing industry-leading intelligence on the market and cutting-edge tools to support participants at every stage of the investment cycle. More than 73,000 industry participants in over 90 countries rely on Preqin as their indispensable source of data, solutions, and insights. Preqin’s data and analyses are frequently presented at industry conferences, and is used in the global financial press and academic journals & white papers. Preqin is always happy to support journalists by providing reports, custom data, and one-on-one interviews.

For more information about Preqin, please visit www.preqin.com.

 

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PayScale Announces Majority Growth Investment from Francisco Partners at an Enterprise Value of $325 Million

Franciso Partners

nvestment Will Help the Cloud Compensation Software Provider Accelerate Growth and Innovation

Seattle, WA and San Francisco, CA – PayScale, Inc., the leading provider of SaaS-based compensation data, analytics and software, announced today a majority investment from Francisco Partners, a global technology-focused private equity fund. This investment will provide PayScale with a new financial partner to build upon the company’s strong momentum and help continue to drive product innovation.

PayScale has grown substantially in recent years as employees and employers alike increasingly demand modern compensation software that enables more data-driven compensation decisions, leading to greater pay transparency and equity. The company’s growth has coincided with the emergence of social movements demanding greater gender and racial equality (both broadly and with respect to the pay gaps that still exist), as well as the increasing scrutiny organizations are under to make their business operations match their recruiting rhetoric. The Seattle-based company pioneered the use of big data and unique matching and prediction algorithms to create the industry’s most advanced compensation platform, which has propelled PayScale to market leadership.

“We have made tremendous progress in delivering our promise to Bring Pay Forward and in the process have established PayScale as the clear market and technology leader in SaaS compensation management solutions,” commented Mike Metzger, Chief Executive Officer of PayScale. “This could not have been possible without the tireless efforts of our employees to drive superior customer outcomes and their dedication to contributing to the PayScale culture. The future of PayScale is bright and we look forward to welcoming Francisco Partners into the shareholder base.”

“Compensation-related friction continues to affect employers and employees globally,” said Adam Solomon, Principal at Francisco Partners. “The changing dynamics of the workforce, including the shift from Boomers to Millennials as the dominant cohort in today’s workplace and the entrance of Gen Z, has made it impossible for CEOs to leave compensation to chance. PayScale helps bridge the disconnect by enabling its more than 8,000 customers to make compensation decisions that are more rooted in data and aligned to business goals than ever before. With this compelling value proposition, PayScale is well-positioned to capitalize on the large market opportunity ahead of the company.”

Peter Christodoulo, Partner at Francisco Partners, added, “We are extremely excited to be partnering with PayScale as the company enters the next chapter of its growth story. The team is focused on its mission of helping companies align their compensation practices with their business goals and of easing the burden of communicating well about compensation to employees, and we look forward to supporting and furthering that vision.”

Warburg Pincus will be exiting its investment in PayScale in this transaction. “We are proud of PayScale’s significant growth over the past five years to become the leading cloud compensation data and SaaS provider in the space,” said Ashutosh Somani, Managing Director, Warburg Pincus. “As growth investors, we feel privileged to have partnered with Mike and the PayScale team and we wish the company continued success in the future,” added Justin Sadrian, Managing Director, Warburg Pincus.

Raymond James & Associates, Inc. acted as exclusive financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to PayScale and its Board of Directors. Kirkland & Ellis LLP acted as legal advisor to Francisco Partners. The transaction is subject to customary closing conditions and is expected to close within the next 15 days.

About PayScale

PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Encana, Patagonia, The New York Times, Sunsweet, T-Mobile, United Health Group, Wendy’s and Perry Ellis. For more information, please visit: www.payscale.com or follow PayScale on Twitter: twitter.com/payscale.

About Francisco Partners

Francisco Partners is an investment firm that specializes in technology and technology-enabled services businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information, please visit www.franciscopartners.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm’s active portfolio of more than 180 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 18 private equity funds, which have invested more than $74 billion in over 860 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com..

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K1 Sells Public Safety Software Leader Rave Mobile Safety

K1

LOS ANGELES, April 25, 2019 (GLOBE NEWSWIRE) — K1 Investment Management (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced the sale of its portfolio company, Rave Mobile Safety, to funds affiliated with TCV. As a K1 portfolio company, Rave became the category leader in public safety software sold to the higher education, government, K-12 and corporate markets.

During its ownership, K1 expanded the Rave management team, refined its go-to-market strategy, and strengthened its product portfolio on key solutions for pressing safety needs, including addressing the growing need for improved school safety with Rave Panic Button. Additionally, Rave consolidated a fragmented industry landscape through strategic acquisitions, bringing together three additional companies under the platform’s umbrella, broadening its market reach and delivering a comprehensive product suite to its customers.

Representative clients of Rave include the City of Chicago, Washington D.C. Schools, the City of Cincinnati, Iowa State University and the City of Virginia Beach.

“K1 was instrumental in guiding us toward furthering our mission of better connecting organizations with those they protect through innovative software that enhances public safety and helps save lives,” says Todd Piett, CEO of Rave. “The team’s operational and strategic guidance allowed us to drive organizational health, accelerate product innovation and strengthen our go-to-market. Without K1’s involvement, we would not have been able to achieve such rapid growth. I am incredibly optimistic about the future of Rave and couldn’t be happier with the effort and results achieved by the Rave and K1 teams.”

“It has been a pleasure working with Todd and the Rave team over the last three years on tripling revenue and building the preeminent provider of emergency notification and safety solutions for education, government and corporate customers,” says Taylor Beaupain, Managing Partner at K1. “We have high confidence that Rave will continue delivering outstanding value to customers and wish them continued success.”

Raymond James & Associates acted as exclusive financial advisor to Rave Mobile Safety.

About Rave Mobile Safety

Rave Mobile Safety provides the leading critical communication and data platform trusted to help save lives. Used by leading education and healthcare institutions, enterprises and state and local public safety agencies, the award-winning Rave platform including Rave Alert™, Rave 911 Suite™, Rave Panic Button™, Rave Guardian™, Rave Prepare™, Rave Eyewitness™ and Swift911™ and SwiftK12™ protects millions of individuals. Rave Mobile Safety is headquartered in Framingham, MA. For more information, please visit https://www.ravemobilesafety.com.

About K1

K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1’s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Checkmarx, ChiroTouch, Chrome River, Clarizen, Granicus, IronScales, Jobvite, Litera Microsystems, Onit, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit www.k1capital.com or www.linkedin.com/company/k1im.

Media contact:
Kevin Wolf
TGPR
(650) 483-1552
kevin@tgprllc.com

Source: https://www.globenewswire.com/news-release/2019/04/25/1809876/0/en/K1-Sells-Public-Safety-Software-Leader-Rave-Mobile-Safety.html

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ChurnZero Raises $7M in Series A Funding Round to Build the Customer Success System of Record

Baird Capital

ChurnZero, a real-time Customer Success platform, has announced that it secured $7 million in Series A funding led by Baird Capital. Returning investors in the round include Grotech Ventures, Middleland Capital, Charlottesville Angel Network and Center for Innovative Technology. The latest investment round will be used to support all of ChurnZero’s efforts. The team will invest in growing the Customer Success ecosystem, accelerate and deepen product development in the award-winning ChurnZero platform, and support customer facing teams in delivering the best Customer Success and Support among their peers.

The ChurnZero solution helps subscription businesses fight customer churn, expand their current accounts, increase product adoption and optimize the overall customer experience.

“At Untappd, we pride ourselves in delivering great Service and Customer Success to our brewery, restaurant and retail customers and we have been blown away with ChurnZero’s level of Customer Success as well as the care and thought they put into their product,” said Jeremy Jeffers, VP of Customer Success, Untappd. “We have seen a large improvement on the level of customer touchpoints our Customer Success Managers are able to do today versus before and we have seen a massive increase in retention for our small and medium-sized accounts.”

“Building a Customer Success platform that integrates data and customer touchpoints from a myriad of sources, generates insights and analytics, and kicks off workflows and communications is a tough technical project and is a proud achievement for our team,” said You Mon Tsang, Co-founder and CEO of ChurnZero. “But our real achievement is creating a happy and successful customer base. Our growth has been testament to our efforts so far and I am thrilled to have Baird Capital as partners to invest further in the company and in the ecosystem.”

In connection with the investment, Joanna Arras of Baird Capital has joined ChurnZero’s board of directors. “Customer Success is a persistent issue for companies in a variety of industries, and we are beginning to see the emergence of best practices to professionalize and scale Customer Success teams,” said Arras. “The market for Customer Success software is relatively nascent; as such we are excited to partner with ChurnZero to create the enterprise’s next great system of record.”

This investment brings the total funding that ChurnZero has raised to date to $10 million.

Since its founding in 2015, ChurnZero has modernized and empowered Customer Success, Account Management, and Customer Marketing teams to proactively engage with customers in an on-going and automated way to work towards their business outcomes. ChurnZero is dedicated to helping their ever-growing customer base fight churn.

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About ChurnZero
ChurnZero helps subscription businesses fight customer churn. Its software solutions allow businesses to understand how their customers use their product, asses their health and their likelihood to renew, and give businesses the means to personalize the customer experience through timely and relevant touchpoints. ChurnZero is headquartered in Arlington, VA and is backed by leading angles and venture capital firms such as Baird Capital, Grotech Ventures and Middleland Capital. For more information, visit churnzero.net.

About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Incorporated. For more information, please visit BairdCapital.com.

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AXA XL teams up with Contguard to launch Connected Cargo

AXA

AXA XL teams up with Contguard to launch Connected Cargo

AXA XL Risk Consulting, in partnership with Contguard, today announced the launch of “Connected Cargo”, a real-time digital cargo tracking solution designed to help French companies optimise their supply chain.

Contguard specialises in Big Data and uses Artificial Intelligence to develop applications and services for companies that need to secure their goods in transit. The company uses data from sensors placed on containers, such as geolocation, temperature and humidity fluctuations, door opening or shock.

Through this partnership, clients will benefit from 24/7 monitoring and the expertise of AXA XL’s risk engineers in order to implement prevention plans.

Maxime Ambourg, Director, Offer & Innovation at AXA Matrix*, now part of AXA XL, comments: “Connected Cargo brings together some of the best tracking and datamining technologies and the experience of our specialised risk engineers. Working with Contguard allows us to augment our consultants’ expertise and to provide more precise and impactful prevention services for the risks associated with transportation and logistics.”

AXA Venture Partners, AXA’s venture capital fund dedicated to technology, invested in Contguard in 2018.

Sébastien Loubry, Partner, Global Head of Business Development at AXA Venture Partners, explains: “We are delighted that Contguard, one of our investments, established a partnership with AXA XL. We are convinced that the technology they developed, which brings a real difference to that market, will provide a lot of value to their clients.”

Follow AXA XL on Twitter and on LinkedIn.

Axa Venture Partners

ABOUT AXA XL[1]

AXA XL1 provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com

 

ABOUT AXA XL[1] RISK CONSULTING

AXA XL[1] Risk Consulting delivers a comprehensive range of risk management solutions and consulting services. Our global network of professionals helps identify current and future risks, while providing practical and realistic solutions to optimize and mitigate them. We empower our clients to improve business results and protect brand value. We partner with those who move the world forward. To learn more, www.axaxl.com

 

ABOUT CONTGUARD

XXX

 

MEDIA RELATIONS:

Alexandre Rizos

alexandre.rizos@axaxl.com

+44 (0) 207 933 7624


1
AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting.

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