Tag Archives: Information technology

Tadaweb, Wendel Growth’s First Direct Investment in Europe

Wendel

Wendel (Euronext: MF.FP), through its investment arm Wendel Growth1, announced today
that it has entered into a definitive agreement to acquire a minority interest of Tadaweb.
Wendel will make an equity investment of €15 million to support Tadaweb’s growth. The
transaction is expected to close in the first quarter of 2023, subject to customary conditions
and regulatory approvals.
Tadaweb delivers open-source intelligence (OSINT) platforms that enable organizations to
generate actionable intelligence by making analysts’ investigative methods hyper-efficient,
reducing time to insight from days to minutes. Tadaweb’s platforms scale analysts’ expertise
across the vast, volatile reaches of the internet. This fast growth company, employing over
120 people, is headquartered in Luxembourg with offices in Paris, London, and Ottawa.
Jérôme Michiels, EVP, CFO and Head of Wendel Growth, said: “I am very pleased to
welcome Tadaweb into Wendel’s portfolio. This first direct investment in Europe by the
Wendel Growth investment team, led by Antoine Izsak, is fully in line with what we want to
target: innovative companies with high growth and leadership potential, led by committed
entrepreneurs.”

Antoine Izsak, Head of Growth Equity said: “We are delighted to make our first investment
in Tadaweb, a leader in the fast-growing OSINT market, where the company offers a unique
set of services and features as well as a world-class team. I’m looking forward to
implementing the partnership that we’re creating with François Gaspard and Genna Elvin
and their teams.”
Genna Elvin, Chief Tada Officer and cofounder stated: “This investment marks another
major milestone in our history. It will accelerate our expansion globally, including our entry
into the United States and additional European markets. We have been a profitable
company for over 5 years, and this represents a pivotal step for the company. Our recently
expanded leadership team, along with this relationship, significantly shifts our ability to scale
our products and the global markets we serve.”
1 Formerly Wendel Lab

François Gaspard, Chief Executive Officer and cofounder, shared: “Becoming part of
the Wendel portfolio, is another step in our long-term growth plans worldwide. We have a
shared history in Luxembourg as well as France and have a shared commitment to building
enduring businesses. At Tadaweb, we continue to be deeply steeped in our European roots.
This opportunity to partner with Antoine and the Wendel Growth team, is truly a special
moment in our story.”

Ted Hickey, Head of Strategy: “Our leadership team is excited to leverage the expertise
and global access Wendel Growth provides to their portfolio companies, which will be
important as we expand into new markets and scale our open-source intelligence platforms.”

About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies.
With close to €170 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense, Wendel Growth is supported by a new team made up of two professionals experienced in this asset class, including Antoine Izsak, who joined Wendel in early February as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds and funds of funds.

About Tadaweb:
Tadaweb reshapes how organizations generate intelligence from publicly available information, helping them detect critical trends and accelerate their investigations, mirroring analysts methods in a hyper-efficient and scalable process, reducing time to actionable insight from weeks to minutes. Learn more at tadaweb.com

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Tredence Raises $175 Mn in Series B Funding from Advent International

Advent International

The funding from Advent International will help Tredence build on growth momentum, strengthen vertical capabilities, and reach a broader customer base

SAN JOSE | BOSTON | BANGALORE | MUMBAI – December 22, 2022 – Tredence, the Data Science and AI Solutions company, today announced it has raised USD 175 million in Series B funding from Advent International (“Advent”) to accelerate data-fueled growth and AI value realization for industries. Advent is one of the largest and most experienced global private equity investors. The full financial terms of the agreement have not been disclosed.

Advent will acquire a minority stake in Tredence with the $175 million investment. Advent has significant investment experience in the technology services and software sectors. Recent IT and information services investments include Encora, CI&T, NielsenIQ, Neoris, Sophos Solutions, Aareon, Canvia, and QuEST Global Services.

The existing investor Chicago Pacific Founders (“CPF”), a leading private equity firm, will continue to be a meaningful shareholder in Tredence. CPF made its initial investment in Tredence in December 2020.

Founded in 2013 by Shub Bhowmick, Sumit Mehra, and Shashank Dubey, Tredence aims to bridge the gap between insight delivery and value realization, providing customers with a differentiated approach to data and analytics through tailor-made solutions.

Advent, alongside Tredence’s co-founders and CPF, will work with the company through continued investment in vertical and domain expertise, IP and accelerator repository, channel partner development, and operational excellence. The partnership will help drive Tredence’s vision to become the world’s most indispensable data and analytics partner. As a part of the transaction, Advent will be joining the Tredence board.

“We are thrilled to welcome Advent as a partner to Tredence,” said Tredence CEO Shub Bhowmick. “Advent’s global reach, deep sector expertise, and vast experience in scaling businesses like ours through organic and inorganic growth will be invaluable to us as we look to drive continued business innovation. Tredence was founded to help clients solve some of the most complex challenges across industries through pragmatic innovation and continuous experimentation. CPF has been a value-added partner over the last few years, and we are excited to be joined by Advent on this journey.”

“Data analytics is an exciting segment within digital IT services with secular growth. The practice is fueled by the rise in data created and captured globally, the reduced cost of compute and storage, and the opportunity for enterprises to tap into valuable insights to drive competitive advantage,” said Shweta Jalan, Managing Partner at Advent International in India. “Tredence has built the business with deep domain expertise that positions it well to become a category-defining leader in the space. We are very excited to partner with Tredence in the next chapter of growth as they build a $500M revenue organization.”

“Tredence is leading the way in designing data analytics strategies, uncovering actionable insights, and implementing outcomes-based AI engagement models for clients,” said Mary Tolan, Founder & Managing Partner, Chicago Pacific Founders. “Through its portfolio of AI/ML solutions, the company has led the charge for world-class data transformation initiatives for enterprises across industries. We remain confident in Tredence’s ability to deliver long-term financial results for its shareholders.”

In 2021, the company devised a vertical AI go-to-market strategy that combines deep data science expertise with business context to solve daunting industry problems. The company’s vertical AI strategy will focus on ATOM.AI, an integrated accelerator ecosystem that guides enterprises from design to experience to value.

About Tredence Inc.

Tredence is a global data science solutions provider focused on solving the last mile problem in AI. The ‘last mile’ is the gap between insight creation and value realization. Headquartered in San Jose, the company embraces a vertical-first approach and an outcome-driven mindset to help clients win and accelerate value realization from their analytics investments. Tredence is 1,800-plus employees strong with offices in San Jose, Foster City, Chicago, London, Toronto, and Bangalore, with the largest companies in retail, CPG, hi-tech, telecom, healthcare, travel, and industrials as clients.

For more information, please visit www.tredence.com and follow us on LinkedIn.

 

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 400 private equity investments across 41 countries, and as of September 30, 2022, had $89 billion in assets under management. With 14 offices in 12 countries, Advent has established a globally integrated team of over 285 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology.

For more information, please visit www.adventinternational.com and follow Advent on LinkedIn.

 

About Chicago Pacific Founders

Based in Chicago and San Francisco, Chicago Pacific Founders (“CPF”) is a leading healthcare private equity firm focused on investing in growth companies within value-based care, healthcare services, AI and tech enabled services, and providing for aging populations. CPF’s leadership team is made up of former healthcare founders, entrepreneurs, and investment professionals with a passion and track record of building high quality businesses.

For more information, please visit http://www.cpfounders.com and follow CPF on LinkedIn

 

Media contacts

India
Sivaram K
Tredence Inc.
Tel: +91 99860 70780
Sivaram.k@tredence.com

US
Sophia Templin
FGS Global
US PR Contact for Advent
Tel: +1 646 805 2000
Adventinternational-US@fgsglobal.com

Joanne Hogue
Smart Connections PR
US PR Contact for Tredence
Tel: +1 860 941 7065
joanne@smartconnectionspr.com

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Hexagon invests 100 MUSD in autonomous and sustainable manufacturing through Divergent

Hexagon AB, a global leader in digital reality solutions combining sensor, software and autonomous technologies, today announced a 100 MUSD investment in Divergent Technologies Inc., a pioneer of green manufacturing technologies with the first modular digital factory for the automotive industry.

Divergent has developed an alternative production process to traditional vehicle manufacturing called DAPS® (Divergent Adaptive Production System) that addresses economic and environmental challenges head-on. DAPS is a fully integrated software and hardware solution, creating a complete modular digital factory for complex structures. The patented process combines AI-optimised generative design software, additive manufacturing (3D printing) and automated assembly to build lightweight automotive parts and frames.

The design software optimises the weight, strength and cost of vehicle models. Parts are 3D printed and assembled autonomously, reducing manufacturing time and human intervention. Regardless of the design, part manufacturing and assembly can be carried out using the same hardware infrastructure, enabling quick design iterations or seamless switches between different vehicle models without downtime. The design-agnostic process is less energy- and resource-intensive, delivers more efficient structures faster and achieves weight reductions between 20% and 70% leading to dramatic improvements in vehicle efficiency.

“Manufacturing a car’s parts has a much greater impact on the environment than the car’s exhaust emissions, which is why new manufacturing concepts will win,” says Hexagon President and CEO Ola Rollén. “We must find ways to empower car makers with more efficient and environmentally friendly manufacturing processes that minimise material usage and total system cost. Incremental steps are simply not enough to save the planet.”

“In my keynote speech at HxGN LIVE Global 2022, I delivered a message of hope for a sustainable future by naming the culprit aloud: all of us,” continued Rollén. “While the steep climb in emissions over the last 30 years happened on our watch, none of us want to go down in history as the CO2 Generation – the one that polluted and warmed this planet. For that reason, Hexagon continues to invest in disruptive and unconventional technologies that make giant leaps forward. We are the perfect partner to ensure quality is delivered throughout this new, innovative manufacturing process. Together, Hexagon and Divergent will deliver the smart manufacturing concepts of the 21st Century.”

“We are humbled and honoured to be partnering with Hexagon” said Kevin Czinger, Divergent’s Founder and CEO. “Having their vote of confidence in what we’ve built and our vision for the future of manufacturing brings new energy and enthusiasm to our team.”

“This significant investment will allow us to accelerate our plans to build a global network of DAPS factories, each serving multiple OEM clients,” said Lukas Czinger, Divergent’s SVP of Operations and Czinger Vehicles Co-Founder. “We look forward to a long-term relationship with Hexagon as Divergent and Czinger Vehicles scale.”

Founded in 2014 and headquartered in Torrance, California, USA, Divergent transforms car manufacturers into agile, design-driven organisations free from capex constraints. A tier-one supplier, its proprietary end-to-end solution is widely applicable to any structure-based, discrete manufacturing process and has already proven to meet the most demanding automotive and aerospace applications.

Protected by more than 500 patents, Divergent’s digital, modular, flexible, and automated production solution produces significantly fewer lifecycle emissions than traditional manufacturing. The company not only leads the automotive industry in breaking down capital, geographic, and environmental barriers, but it also has its own portfolio of hypercars, Czinger Vehicles, which produces the fastest production vehicle in the world – the 21C. Learn more about Divergent at www.divergent3d.com.

Note: A portion of Hexagon’s investment of up to 100 MUSD is subject to certain regulatory approvals.

For further information, please contact:
Anton Heikenström, Investor Relations and Business Analyst, Hexagon AB, +46 8 601 26 26, ir@hexagon.com
Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, media@hexagon.com

Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.

Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 23,000 employees in 50 countries and net sales of approximately 4.3bn EUR. Learn more at hexagon.com and follow us @HexagonAB. 

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Strata Identity Partners With HYPR to Accelerate Elimination of Passwords

.406 Venture

BOULDER, CO and New YORK, NY – December 15, 2022 — Strata Identity, the Identity Orchestration Company, and HYPR, the Passwordless CompanyTM, today announced a partnership that enables phishing-resistant MFA to be added to any modern, legacy, or custom application without rewriting the source code. This unique capability is made possible via an abstraction layer that decouples identity and authentication from the identity system and applications to deliver the strongest levels of authentication security.

According to a 2022 Forrester survey, 67 percent of respondents are in the process of adopting passwordless security in their organizations. Passwordless protection is needed across all access points, including legacy applications that may have been neglected or overlooked in the past. Now, through this integration with HYPR and Strata, organizations with older, outdated systems will be able to get the benefits of passwordless authentication security assurance and a frictionless, password-free user experience. This agreement brings together Strata’s specialization in Identity and Policy Orchestration with HYPR’s proven True Passwordless™ authentication expertise. Together, Strata and Hypr customers can overcome the traditionally challenging hurdle of adding MFA to legacy applications — even those tied to directory-based passwords.

Passwordless authentication has been identified as the gold standard for authentication. The Cybersecurity and Infrastructure Security Agency (CISA) released a new “Phishing Resistant MFA Fact Sheet” that calls out the immediate need for fully passwordless protection of every app in critical risk sector organizations, regardless of app type. It also recommended this level of authentication security for organizations in every sector and every application in their organization’s environment, regardless of whether it speaks modern authentication protocols.

“Legacy MFA technologies are failing, at scale, and leaving serious security gaps due to insecure authentication methods costing organizations an average of $2.19M per year as detailed in the latest State of Authentication report, ” said Bojan Simic, CEO and CTO at HYPR. “To get the highest levels of authentication security, organizations need to adopt passwordless MFA. HYPR’s integration with Strata technology is exciting because it now enables customers to extend HYPR’s passwordless authentication solution to legacy applications without coding, radically simplifying and accelerating an organization’s passwordless deployment.”

As part of the joint integration, Strata’s Maverics identity orchestration platform enables HYPR’s True Passwordless security platform to function as the passwordless authenticator with any combination of IdPs and support both on-premises and cloud identity systems. In addition, HYPR can be used with any app, including modern, legacy, and custom-developed programs, without making any modifications to its source code. Maverics also provides transparent journey-time orchestration that allows HYPR registration and user onboarding to be inserted within existing application access workflows.

“Forward-looking organizations are moving to passwordless authentication to protect their web applications in the cloud, but what about their legacy and custom applications? They must be modernized first, which traditionally means manually re-coding each app one by one,” said Eric Olden, CEO of Strata Identity. “This partnership with HYPR removes the need to rewrite legacy applications and systems to support passwordless simplifying the process for deploying modern authentication across a company’s entire environment.”

Availability

The integrated Strata Identity and HYPR passwordless solution is available immediately from both Strata and HYPR.

About Strata

Strata Identity is the leader in Identity Orchestration for hybrid and multi-cloud environments. The orchestration recipe-powered Maverics platform enables organizations to connect and control incompatible identity systems without changing the user access experience. By decoupling applications from identity, Maverics makes it possible to implement modern authentication like passwordless and enforce consistent access policies without refactoring source code. The company’s founders created the IDQL (Identity Query Language) standard and Hexa open-source software for multi-cloud policy orchestration and are co-authors of the SAML standard for SSO federation. For more information, visit us on the Web and follow us on LinkedIn and Twitter.

About HYPR

HYPR fixes the way the world logs in. HYPR’s True Passwordless™ MFA platform decouples authentication from the organization’s identity providers and eliminates the traditional trade-off between security and user experience by providing uncompromising assurance and consumer-grade experience. By eliminating the password and deployments taking hours rather than weeks or months, organizations decrease the risk of a cyber attack, increase positive user experience, and lower operational costs.

Welcome to The Passwordless Company®. Additional information is available at https://www.hypr.com

Contact

Marc Gendron
Marc Gendron PR for Strata
+1-617-877-7480
marc@mgpr.net

HYPR
Carol Dullmeyer
Vice President, Brand and Corporate Communications
carol.dullmeyer@hypr.com

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GBC Gruppe acquires IT system software integrator Maxxys

GBC Gruppe entered into an agreement to acquire Maxxys. The acquisition is the third in GBC’s buy and build story and added a managed services provider with a focus on infrastructure and security managed services to the group.

Pride Capital Partners continues to support GBC’s buy and build strategy. The investment will enable GBC on its path to building a leading IT managed services group in the market with a clear focus on added customer value and the creation of a preferred place to work for talents.

Maxxys is founded in 2002 and is located in Butzbach, Germany. The company offers services and consulting for endpoint management, service management, security, operation and automation. The product portfolio consists of well-known software solutions such as USU, DriveLock and invanti, thereby serving large blue chip customer base.

According to Pascal Bechtel (CEO GBC Gruppe) , this acquisition fits in the ambitions of the organization: “We are pleased to embark on this joint path with Maxxys, as we will be able to significantly expand our expertise in the area of security and operations and provide our customers with a broader portfolio.”

Bernhard Bock, CEO of Maxxys, will stay on board to support future growth: “We want to take Maxxys AG to the next level to support SMEs even better with the expert team of the entire GBC Group. The merger allows us to expand and broaden our business. We look forward to leveraging synergies for the benefit of our customers.”

Lars van ‘t Hoenderdaal, Managing Partner Pride Capital Partners, likes to emphasize that “GBC management is able to build a strong managed service group in the DACH region with a profitable and recurring business model. We are enthusiastic in supporting GBC in this strategic acquisition, as well as future acquisitions”.

Pride Capital Partners

Pride Capital Partners invests into growing companies in Software and IT services. By combining private debt and equity, Pride Capital Partners enables entrepreneurs to realize growth ambitions with a flexible capital solution. Typical scenarios include growth, acquisitions, and management buyout transactions. The focus is on companies in the Benelux, DACH region and Nordics. Pride Capital Partners has offices in Amsterdam, Cologne, Frankfurt and per 2023 also in Copenhagen.

Pride Capital Partners’ resources have been made available by shareholders, institutional investors, wealthy individuals, family offices and (former)entrepreneurs. The current portfolio includes Benelux companies Blue Field Agency, Spotzer Digital, Fivespark, Fairbanks, Netaxis, ScanmarQED, Archipel, Matrixian and Dileoz, as well as DACH companies Wagawin, GBC Gruppe, Architrave, Kendox, moveXM, eKomi, Talentsconnect and Link11.

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retrain.ai Named to Globes’ Most Promising Israeli Startups and Reaches Total Funding of $34M

.406 Venture

NYC / December 14, 2022 – retrain.ai, a leading AI-driven Talent Intelligence Platform, has been honored as one of the top 10 most promising startups for 2022 by Globes, as designated by Israel’s premier venture capital firms. The company is also reporting today it has closed an additional $14 million investment round led by AI-focused Radical Ventures, bringing their total funding raised to $34M.

“We are incredibly honored to be recognized by Globes as a standout among the thousands of other tech companies surveyed. Our position as a startup primed for global impact is the reason we’re able to attract forward-thinking investors like Radical Ventures,” said retrain.ai Co-founder and CEO Dr. Shay David. “Radical’s investment will help accelerate immediate value, with proceeds fueling retrain.ai’s growth into international markets where we will continue to pursue our vision of helping millions of people find their place in the job market by gaining 21st century skills.”

Radical Ventures is an early-stage venture capital firm investing in entrepreneurs applying deep technology to transform massive industries. They focus their investments on people who are using Artificial Intelligence to disrupt different market segments.

“retrain.ai is helping businesses navigate an economy and workforce in the midst of a generational transition,” said Jordan Jacobs, Managing Partner of Radical Ventures who also joins the retrain.ai board. “By leveraging powerful AI models, retrain.ai is reducing both the time-to-hire and increasing employee performance and retention.”

Radical Ventures joins other retrain.ai investors including Square Peg, Hetz Ventures, TechAviv, .406 Ventures, Schusterman Family Investments and Splunk Ventures.

“AI has the potential to dramatically improve how businesses manage their most essential resource, their talent,” says retrain.ai Co-founder and COO Isabelle Bichler-Eliasaf.  “Our Talent Acquisition and Talent Management modules are powered by Responsible AI helping unveil skills and capabilities for job candidates and employees alike, revealing maximum potential and new career opportunities so HR leaders can make data-driven decisions. Being named to the Globes Top Ten list is further recognition of the impact our technology is having on the future of work.”

Globes, Israel’s number one economic newspaper, publishes a list of the ten most promising start-ups annually based on selection by leading global investment funds in the Israeli high-tech market. VC participants were asked to name startups that have demonstrated proven impact and who may be the next unicorns. Past awardees included companies like Monday.com and Fivver, who have gone on to do multi-billion dollar IPOs.

Out of the 4,000 tech firms analyzed by Globes, retrain.ai was recognized for its cutting-edge AI and its potential impact in helping millions of people gain in-demand, emerging skills for a more productive, fulfilling and lasting career.

 

About retrain.ai

retrain.ai is a leading Talent Intelligence Platform designed to help enterprises hire, retain, and develop their workforce, intelligently. Leveraging Responsible AI and the industry’s largest skills architecture, enterprises unlock talent insights and optimize their workforce effectively with retrain.ai’s Talent Acquisition and Talent Management modules in order to lower attrition, win the war for talent and the great resignation in one, data-driven solution. To learn more, visit www.retrain.ai

 

About Radical Ventures

Radical Ventures is an early-stage venture capital firm investing in people applying artificial intelligence to shape the future of how we live, work and play. From healthcare and financial services to infrastructure and manufacturing, Radical partners with entrepreneurs who understand the transformational power of AI. Learn more at www.radical.vc.

Press Contact:
Karen Sackowitz
E: karen.sackowitz@retrain.ai
P: +1 978.697.3845

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Trilio Raises $17M and Appoints Massood Zarrabian as CEO

.406 Venture
FRAMINGHAM, Mass.—December 12, 2022—Trilio, a leading provider of cloud-native data protection, announced today that it has secured $17 million in funding to drive further innovation and growth in the cloud-native application resiliency market. The company also announced the appointment of enterprise software executive Massood Zarrabian as CEO. Zarrabian was formerly Chairman and CEO of BA Insight.
“Trilio is a trusted partner for organizations that are driving digital transformation leveraging cloud-native technologies,” said Massood Zarrabian, CEO of Trilio. “The company has established a leading position in the new growth category of Kubernetes with unique application resiliency technology, strong partnerships and a passionate team. Our goal is to leverage those resources to help customers meet their mandates for multi-cloud application mobility, ransomware protection and compliance with disaster recovery protocols. We’re pleased to have the continued confidence of SKK Ventures and added support from leading innovators such as Telefonica and T-Mobile, who are also valued customers.”The company will leverage the capital to increase focus on product development, engineering and customer operations. The additional funding is part of the company’s Series B round and was led by SKK Ventures with participation from T-Mobile Ventures, Wayra Telefónica Innovation, Raiven Capital, Genesis Accel, .406 Ventures and Jack Egan. This brings Trilio’s total capital raised to $36M million.

In his most recent role, Zarrabian led BA Insight’s transformation and growth into a multi-platform enterprise search software company leading to its acquisition by Upland in 2022. Prior to BA Insight, Zarrabian was President and CEO of OutStart where he established the company as a market leader with hundreds of customers. He also served as President of the eService Division of Broadbase Software, a leading provider of eCRM solutions.

David Safaii, who has been CEO since 2014, has transitioned to the role of Executive Chairman of the Board, focusing on the strategic needs of the organization, including corporate and business development.

“Trilio has earned notable success under David’s leadership, including building brand awareness, a strong team of dedicated professionals, and a roster of Tier 1 enterprise-class customers from around the world. His expertise will play a vital role going forward as the executive chairman,” said Rob Scott, Member of the Trilio Board of Directors.

Scott continued, “We’re equally excited to bring on Massood Zarrabian as CEO. Massood is a seasoned operator with experience in driving and scaling software companies like Trilio to the next level. Massood’s track record of building teams, culture, and outcomes makes him a great fit for our organization as we move forward into this next chapter.”

Additionally, the company announced Christina Lattuca as CFO and VP of Operations. Lattuca joins Trilio to lead the company’s finance, accounting, business intelligence, legal and human resources functions. She was most recently CFO of Cygilant, a leading provider of cybersecurity-as-a-service, prior to its acquisition by SilverSky. She has more than 25 years of financial management expertise developing and implementing financial planning, controls, and reporting for international high-tech companies.

Investor Quotes

Stephen Brackett, President and Managing Member of SKK

“SKK believes in the Trilio mission, and we are encouraged by the company’s continued progress in the fast-growing market for cloud-native application resiliency. The growth in the company’s technology and partner ecosystem is a strong indicator of how the leadership team has elevated the Trilio brand as both a technology innovator and a trusted go-to-market partner.”

Jeff Pellegrini, VP of Investments, T-Mobile Ventures

“Our enthusiasm for Trilio’s technology, product and customer-centric approach is driven not just by the due diligence of an investor but by the intensive research of a customer. T-Mobile did an extensive investigation of the players in this space before selecting TrilioVault as its cloud-native application resiliency service. As a result, we became convinced that backing the company strategically was the right move. We’re happy to participate in this funding round and support the company’s next phase of innovation and growth.”

TrilioVault for Kubernetes is a leading cloud-native data protection platform helping organizations migrate to new cloud infrastructure, recover quickly from ransomware attacks and comply with disaster recovery mandates. Trilio is well positioned to capitalize on a rapidly growing market for cloud-native management solutions. According to IDC, 70% of all net-new apps in production will be cloud-native by 2024, up from just 10% in 2020. This momentous shift to containerized applications means enterprises need robust and reliable data protection for Kubernetes-based applications.

Recent Milestones

About Trilio

Trilio is a leader in cloud-native data protection and management for applications using Kubernetes and OpenStack. Our TrilioVault technology is trusted by cloud architects and DevOps engineers for backup and recovery, migration, ransomware protection and application mobility. Customers in telecom, defense, automotive and financial services leverage TrilioVault to easily migrate to new cloud infrastructure, recover quickly from ransomware attacks and comply with disaster recovery protocols. Trilio.io, Twitter and LinkedIn.

# # #

Media Contact:
Robert Cathey
Cathey.co for Trilio
robert@cathey.com
+1 865-386-6118

Tags: Cloud Native, Continuous Restore, Data Management, Data Protection, Red Hat,

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Adelis new majority owner in IT services company Aderian

Adelis Equity

Adelis Equity Partners becomes the new majority owner in the fast-growing IT services company Aderian to support continued organic growth and acquisitions. Operating a decentralized model, Aderian consists of a group of locally strong IT specialists who deliver tailored and customer-oriented IT services to SME customers. Following the transaction with Adelis, Aderian is expected to generate revenues of c. SEK 1 billion with the ambition to triple revenues within five years while retaining strong profitability.

Adelis has significant experience from investing in the attractive and fast-growing IT services space, where service delivery is becoming increasingly complex and critical, driven by e.g. migration to cloud and need for IT security. Simultaneously, there is a growing demand – especially in the SME segment – for tailored and customer-centric solutions.

With a strong track record of investing in partnerships with leading entrepreneurs, Adelis becomes new majority owner in the IT services company Aderian, with the ambition to further develop its successful decentralized business model whilst accelerating growth. All entrepreneurs, management and key employees will remain significant shareholders following the transaction.

“We are very excited to welcome Adelis as a new growth partner to Aderian. We have a unique business model where our group companies retain their strong brands and local presence, which is highly appreciated by both customers and employees. At the same time, we cooperate within the group to provide both a broad service offering and specialist competences to always serve our customers in the best possible way”, says Mia Åslander, CEO at Aderian Group.

Following the transaction with Adelis, Aderian is expected to reach revenues of c. SEK 1 billion. With Adelis as a growth partner, the ambition is to triple revenue in five years, driven by both organic growth and an active M&A strategy in the fragmented IT industry.

“We are honored to become new majority owner in Aderian. Mia and the team of strong entrepreneurs have created a unique platform that combines the important qualities of being a local and customer-oriented IT partner, with the benefits and resources of being part of a larger group. We look forward to supporting Aderian’s continued growth and welcoming additional entrepreneurs and employees who want to join our coming growth journey”, say Erik Hallert and Jakob Wedenborn at Adelis.

The transaction is expected to close January 2023, subject to customary regulatory approvals.

For further information:

Mia Åslander, VD Aderian Group

Phone: 076-188 91 77

E-mail: mia.aslander@aderian.se

Erik Hallert, Adelis Equity Partners

Phone: 070-936 80 41

E-mail: erik.hallert@adelisequity.com

Jakob Wedenborn, Adelis Equity Partners

Phone: 073-392 59 26

E-mail: jakob.wedenborn@adelisequity.com

About Aderian Group

Aderian Group consists of leading companies with strong local brands and broad competences that, within Aderian, can find synergies and areas of cooperation to broaden their service offering and provide tailored solutions with a customer-centric approach. The strategy is to gather all the companies’ unique qualities with the goal of becoming a market leader within IT- and application operations, infrastructure, cloud services, security and digitalization. The companies in the group, primarily focused on smaller- and midsized (SME) customers, can leverage this business model to broaden their service offering and continue to grow with existing and new customers. Today, Aderian has over 300 employees and has revenues of c. SEK 800m. For more information, please visit www.aderian.se

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 37 platform investments and more than 160 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com

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Cinven and Ontario Teachers’ to invest in the combination of group.ONE and dogado group

Cinven

The combination of group.ONE and dogado group will create a diversified pan-European champion in the web hosting and domains market, with one-stop-shop solutions to support SMEs with their online presence and success.

International private equity firm, Cinven, today announces that the Seventh Cinven Fund, in partnership with leading global investor Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), has agreed to acquire and combine group.ONE and dogado group (“dogado”). The combination of group.ONE and dogado will create a leading pan-European one-stop-shop provider of online presence solutions for small- and medium-sized enterprises (“SMEs”) and small-office home-offices (“SOHOs”) including domain, web hosting, cloud hosting, business software and digital marketing services. Financial details of the transaction are not being disclosed.

group.ONE is a leading European provider of online presence solutions via mass hosting and software products to c. 1.6 million customers through brands including one.com, Hostnet and WP Media. Headquartered in Sweden, group.ONE operates across a number of European countries and has strong positions in the Nordic and Benelux mass hosting markets. The company has more than 650 employees.

dogado is a leading provider of online presence solutions in Germany, Austria and Switzerland (the “DACH” region), offering mass and cloud hosting and digital marketing services to more than 380,000 customers through brands including dogado, Metanet and Herold. Headquartered in Germany, the company employs more than 500 people.

Cinven and Ontario Teachers’ believe the combination of group.ONE and dogado represents an attractive investment opportunity based on a number of factors, including:

  • Strong financial performance: group.ONE and dogado have strong financial track records. Both businesses have proven resilient through challenging macro environments, including the COVID-19 pandemic and the more recent economic and geopolitical uncertainty, thanks to their recurring subscription models, their large and highly diversified customer bases, and the mission-critical nature and low absolute cost of their offerings;
  • Structurally growing, resilient end-markets: The Nordic, Benelux and DACH online presence markets are expected to continue to experience growth over the next decade, driven by continued digitalisation across SMEs and a shift to higher value-add products that can help customers succeed in the broad and increasingly complex online ecosystem;
  • Highly complementary businesses that are well positioned in their respective end-markets: The combination of group.ONE and dogado will create a leading pan-European player, with strong positions in the Nordic, Benelux and DACH regions. In addition, group.ONE and dogado benefit from complementary product offerings and capabilities, such that the combined group can become a leading one-stop-shop provider of online presence solutions;
  • Experienced management teams: Both group.ONE and dogado are led by strong management teams with long-standing experience in the web hosting and domains sector. The combined group will benefit from the cumulative experience and complementary skills of the two teams; and
  • Extensive M&A pipeline in a fragmented but consolidating market: Both businesses have a strong track record of successfully identifying, executing and integrating add-on acquisitions. The combined group would represent a leading consolidation platform in the fragmented European hosting market.

Jacob Nordestgaard Jensen, founder and non-executive director of Group.ONE, who has remained a significant minority shareholder in the company, is reinvesting alongside Cinven and Ontario Teachers’ in the new transaction for a significant minority stake in the combined group. Senior managers from both group.ONE and dogado are also reinvesting materially in the business.

Thomas Railhac, Partner at Cinven, said:

“group.ONE has performed very strongly under Cinven’s ownership since its original investment in the business in 2019 and we are delighted to be continuing to support group.ONE’s growth strategy through this transaction. The combination of group.ONE and dogado will create a leading pan-European player in the online presence market, with significant opportunity for further growth, both organically and through buy and build. This is a sector we know well through Cinven’s successful investments in HEG and one.com.”

“We are delighted to be partnering with Ontario Teachers’ in this transaction. They are a committed, long-term investor and we look forward to working closely together with them and the combined group’s management team.”

Jean-Charles Douin, Senior Managing Director, Private Capital for Europe, the Middle East and Africa at Ontario Teachers’ added:

“We are pleased to be partnering with Cinven to acquire group.ONE and dogado group. Both businesses are highly regarded in their markets and provide critical services to their SME customers, enabling them to maintain a vital online presence.”

“We see the combined business as a great fit for our European Private Capital portfolio given group.ONE and dogado’s leading positions in their respective markets and resilient subscription-based business models. We have a strong, long-standing relationship with Cinven and look forward to working together with them and management to support the company in the next stage of its growth.”

Daniel Hagemeier, CEO of dogado group commented:

“Today’s announcement marks an exciting new chapter in our company’s history. By bringing together the highly complementary businesses of group.ONE and dogado, we will create a new European market leader in the web hosting and domain market, with a unique and enhanced offering.”

“We are excited about the partnership with Cinven and Ontario Teachers’, who share our long-term vision for the business and will enable us to further expand our operations to best serve the growing needs of our clients. We look forward to working with the group.ONE team as we enter the next phase of growth.”

Stephan Wolfram, CEO of group.ONE, added:

“I have worked closely with the Cinven team since 2019, Cinven is now re-investing in our business, alongside Ontario Teachers’ in order to enable us to continue our strong growth trajectory.”

“That investment and the addition of dogado group, means that the combined group will be able to leverage its size and scale to significantly increase our growth opportunities across the Nordic, Benelux and DACH regions. We look forward to working with the dogado team in that journey.”

Completion of the transaction is subject to customary regulatory and antitrust approvals.

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HYPR, the Leader in Phishing-Resistant MFA, Raises $25M

.406 Venture

NEW YORK, NY – December 1, 2022 — HYPR, the Passwordless Company, today announced a $25 million Series C1 led by Advent International through Advent Tech, the firm’s dedicated global technology fund. The investment brings HYPR’s total funds raised to $97 million and includes participation from existing investors including .406 Ventures, RRE Ventures, Top Tier Capital, and Comcast Ventures. The new injection of capital will be used to expand HYPR’s go-to-market strategy and R&D efforts and to accelerate its mission Fix the Way the World Logs In.

Recent HYPR research revealed that 89% of organizations experienced at least one phishing attack within the past year at an average cost of $2.19M. Legacy authentication solutions have failed to keep pace with the industrial-grade tooling easily available to attackers. In response, industry officials, including CISA, have urgently advised organizations to eliminate passwords and adopt phishing-resistant MFA such as HYPR’s passwordless solution.

“Passwords and Legacy MFA solutions that are supposed to keep organizations safe are actually putting them at tremendous risk, “ said Bojan Simic, CEO of HYPR.  “These outdated technologies make organizations an easy target for hackers using readily-available online tools to automate and scale attacks. Furthermore, the user experience with these legacy methods is so frustrating that users bypass the security controls, which gives hackers further vulnerabilities to exploit.  The new investments will advance our efforts to help organizations keep their employees and customers safe while significantly reducing the astronomical costs of passwords.”

HYPR is a pioneer in passwordless authentication and has demonstrated tremendous momentum over the past 24 months.  HYPR’s solution offers a consistent passwordless authentication experience regardless of the heterogeneity of a customer’s infrastructure. Enterprises who have deployed HYPR’s phishing-resistant MFA on a worldwide basis include 2 of the 4 largest US banks, Fortune 500 manufacturing conglomerates, and global insurance providers.

“As a Fintech institution, we face an increasingly complicated threat landscape,” said Dawn Watters, SVP of Identity & Data Protection at Fiserv.  “We selected HYPR for the completeness of their passwordless authentication solution and the overall user experience. Working with HYPR will significantly reduce our exposure to phishing attacks and improve our overall enterprise security while using the latest FIDO standards.”

HYPR is deploying passwordless solutions to hundreds of thousands workforce users per quarter while also rapidly enabling the adoption of passwordless technologies in the consumer identity space.

“The HYPR team has built one of the most significant phishing-resistant MFA solutions that is deployed at scale globally,” said Eric Noeth, Partner at Advent International. “The growing deployment momentum demonstrates HYPR’s ability to give organizations a proven passwordless alternative to replace failing systems based on the password. We continue to be impressed by the pace of HYPR’s innovation and leadership in the passwordless authentication space and we’re excited to continue our partnership with the HYPR team in this next phase of their journey.”

HYPR’s market leadership has grown based on the company’s early adoption of the FIDO (Fast IDentity Online) standard, which has garnered broad industry acceptance.  Earlier this year, platform leaders including Google, Apple and Microsoft committed to expand their support of the FIDO standards to accelerate the availability of passwordless logins.

“HYPR has been a long-time supporter of the FIDO Alliance, and their FIDO Certified products have underpinned some of the industry’s flagship FIDO implementations with leading enterprises around the world,” said Andrew Shikiar, Executive Director and CMO of the FIDO Alliance.  “As a member of FIDO’s Board of Directors for the past five years, HYPR has played a critical role in developing and advancing the FIDO standards – working alongside other leading companies in the Alliance to fulfill our collective mission of reducing reliance on passwords in favor of simpler, stronger user authentication.”

About HYPR

HYPR fixes the way the world logs in. HYPR’s True Passwordless™ MFA platform decouples authentication from the organization’s identity providers and eliminates the traditional trade-off between security and user experience by providing uncompromising assurance and consumer-grade experience. By eliminating the password and deployments taking hours rather than weeks or months, organizations decrease the risk of a cyber attack, increase positive user experience, and lower operational costs.

Welcome to The Passwordless Company®. Additional information is available at https://www.hypr.com

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 400 private equity investments across 41 countries, and as of June 30, 2022, had $96 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 285 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

Contact

Carol Dullmeyer
Vice President, Brand and Corporate Communications
carol.dullmeyer@hypr.com

Sophia Templin or Amanda Muccio
FGS Global for Advent International
AdventInternational-US@fgsglobal.com

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