Category Archives: News

Our investment in Mimo: Simplifying global payments and financial management for SMBs

Northzone

We are thrilled to announce our investment in Mimo, the platform simplifying global payments, cash flow, and financial management for SMBs and accountants. We’ve led this €18m round with participation from Cocoa Ventures, Seedcamp, Upfin VC, Fost Capital, and various angel investors including founders and early operators from Stripe, GoCardless, Wayflyer, and Anyfin.

Despite the fintech innovation of the past decades, when it comes to SMBs, payments and cashflow management continue to be a pain point. The processes are usually handled by a director on top of other duties or by a fractional CFO and involve a lot of manual work. Cashflow management is a timing problem and payments management a workflow problem. Beyond that, companies often fly blind, lacking real insights on their actual cash positions and future cashflows, which hampers their ability to properly plan ahead.

Over the years, we have spoken to multiple founders and fractional CFOs and repeatedly come across the time-consuming and fragmented processes SMBs face when managing money. The payer wants to pay as late as possible, while the payee wants to receive money as fast as possible. Without much negotiating power, small businesses are generally tight on cash; their options are to either take out expensive SME loans or pay their suppliers late to preserve and collect cash.

Today, SMBs often rely on a disjointed network of applications, including house banks, SaaS tools, and FX brokers, to manage their finances. Workflows are clunky and companies often keep track of their invoices in their email inbox, spreadsheets, or tools such as Xero. Furthermore, approvals between individuals go through a variety of touchpoints that are not purpose-built, creating unnecessary back-and-forths.

Over the past decade, we’ve seen a wave of neobanks and banks catered to SMB needs (including FINOM, also a Northzone portfolio company). While these banks replace old and unadapted incumbents, the administrative and cashflow challenges remain. In the UK, the average SME is owed a staggering estimated £22,000 in late payments every year.

Enter: Mimo. Founded by Henrik, Alexander, and Andreas, Mimo is solving this problem with their holistic platform that simplifies global payments, cash flow management, and financial management for SMBs and accountants.

By providing a suite of financial tools that bundles the features needed for SMBs to better understand and control their cash flow, Mimo enables businesses, accountants, and bookkeepers to manage finances through a single platform. The platform allows SMBs to pay suppliers with a click, access working capital, and get paid faster by customers, in any currency. Mimo’s credit offering minimises risk and optimises working capital, empowering businesses to send and receive payments on their own terms.

Our Partner, Jessica Schultz, adds, “Having known Henrik for years, we are very excited to partner up with him and his co-founders Alexander and Andreas, who previously worked together at iZettle and know well what it takes to build and win in the financial SMB market. Companies today face a real pain when it comes to coherently managing payments, cash flow, and financing. We believe Mimo’s vision for a true financial management platform aligns well with our thesis. The commercial success Mimo is already seeing today is a testament to the team’s drive and market edge.”

With this new funding, Mimo will accelerate product development, expand its platform, and continue its commercial success. If you’re an SMB or finance professional looking to streamline your financial processes, join the Mimo movement at mimohq.com.

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Clariti Secures US$18M Investment from Vistara Growth to Drive Digital Transformation in Government

Vistara Growth

Vancouver, April 10, 2024 – Vistara Growth, a provider of flexible growth capital to software and technology-enabled services companies, has invested US$18M in Vancouver-based Clariti Cloud Inc. (“Clariti”), the premier SaaS provider for permitting and licensing solutions to state, provincial and local governments in the U.S. and Canada.

The Company’s software allows local governments to improve productivity and service quality to citizens by streamlining and automating processes. Their fully digital end-to-end permitting platform takes an application through to issuance, enforcement, and management. Customers choose Clariti for their cloud capabilities, highly configurable platform with innovative features, and excellent security and scalability. Clariti’s software transforms permitting and licensing from slow, frustrating in-person and paper processes to modern, streamlined digital experiences, generating additional revenue for governments and vastly improving the constituent experience.

“Permitting and licensing are primary revenue drivers for local governments and Clariti ensures that their customers can deliver modern solutions to their citizens,” says Neil Kenley, Principal at Vistara Growth. “We have been able to see first-hand the benefits that Clariti can provide customers through the modernization of legacy systems. Clariti drives significant improvements in speed and ease of use for both government employees and the citizens who use their platform – all while reducing the overall cost of ownership for the provider.”

Across government technology, there’s been a growing need to modernize and upgrade legacy and on-premises systems. A software refresh cycle that picked up speed with the need for cloud deployments during the COVID-19 Pandemic, has continued to accelerate as governments increasingly recognize the power of SaaS solutions that benefit from ongoing development and new features.

Proceeds from the growth financing will primarily be used to expand Clariti’s go-to-market teams, build on relationships with system integrators and support an increased number of implementations as Clariti has continued to see meaningful new opportunities in the market. Additionally, the financing will further enable the development of additional features and support the integration of Camino, an innovative permitting technology provider acquired by Clariti in 2023.

Clariti Co-CEO, Cyrus Symoom commented “We are witnessing accelerated demand for digital government services, underscoring the critical need for innovative solutions to meet evolving citizen needs. In light of this, we are truly excited to partner with Vistara as we embark on the next phase of our company’s growth journey. Their reputation for creativity, thoughtfulness, and emphasis on a relationship-oriented approach seamlessly compliments our organizational values and strategic goals. This partnership marks a significant step forward in our commitment to innovation and client satisfaction, propelling us towards sustained growth and success.”

About Clariti

Clariti’s government software helps North America’s largest and fastest-growing communities deliver exceptional community development, permitting, and licensing experiences online. Founded in 2008, Clariti is built as an alternative to code-heavy, non-configurable systems that create technology barriers for governments to meet their community’s evolving needs. Governments should be able to dictate how their software works. To us, that means providing our customers with a system that’s maintained with clicks, not code, to relieve pressure on technical resources and better support citizens and staff. For further information about Clariti, please visit www.claritisoftware.com.

About Vistara Growth

Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in.  For more information, visit vistaragrowth.com

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Nordstjernan invests in Oden Technologies

Nordstjernan

Nordstjernan has invested in Oden Technologies (“Oden”), a leading data and AI software company servicing the manufacturing industry. Oden, with its main market in the United States, was founded in 2014 by Willem Sundblad and Peter Brand. Recognized as a leading niche player on the market for Industrial Analytics and AI, Oden has experienced high demand and adoption for its recently launched machine learning operator centric product, Process AI. The product creates prescriptive process recommendations to optimize operator runs in real-time.

In a market significantly impacted by digital transformation, Oden has the potential to enhance efficiency, deliver real-time decision making, and mitigate the risks associated with high operator turnover. This is particularly crucial for the manufacturing industry as workforce issues are continuously a primary challenge. The investment will support continued growth via customer expansion, continued investment in Process AI and the roll-out of additional AI products built for use by the machine operators.

 

The Series B investment round, led by Nordstjernan Growth, equals USD 28.5 million. Other new investors are Flat Capital, Recurring Capital Partners as well as Oden customer INX International Inc. Almost all existing investors participated in this round, including Atomico and EQT Ventures.

 

”We look forward to working together with Nordstjernan to continue to develop, grow and accelerate innovation at Oden Technologies as we enter a new phase and stage of maturity”, says Willem Sundblad, CEO and co-founder of Oden Technologies.

 

”Oden is a uniquely positioned and innovative company in a large growing market where we see considerable potential. We look forward to supporting the company in the long term”, says Torbjörn Folkesson, Head of Nordstjernan Growth.

 

The investment is made through Nordstjernan’s growth initiative, Nordstjernan Growth, and is the fifth holding in the Growth portfolio. As part of this round Nordstjernan becomes the largest owner and will be represented in Oden’s board.

 

Torbjörn Folkesson
Head of Nordstjernan Growth

 

Questions handled by:

 

Kajsa Andersson, Communications Manager Nordstjernan
Mobile: +46 72 230 87 65
E-mail: kajsa.andersson@nordstjernan.se

 

 

Nordstjernan is predominantly owned by the Axel and Margaret Ax:son Johnson Foundations. Since its establishment in 1890, Nordstjernan has owned and developed hundreds of companies in a range of industries. Today, Nordstjernan has investments in more than 20 companies in five sectors. Together, these companies have sales of SEK 120 billion and employ more than 50,000 people. Read more on www.nordstjernan.se.

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Guesty Raises $130M To Accelerate Global Expansion

KKR

Global investment firm KKR leading Series F funding round, with participation from Inovia Capital
–  Investment to drive continued global expansion through both acquisitions and organic growth, including broadening the enterprise-level offering to accommodate medium-term rentals, corporate housing, and fully-serviced stays

NEW YORK, April 10, 2024 /PRNewswire/ — Guesty, the leading property management software platform for the short-term rental (“STR”) and hospitality industry, today announced a $130M Series F funding round led by leading global investment firm KKR. Inovia Capital, together with existing investors Apax Funds, BDT & MSD Partners and Sixth Street, also joined the round, extending their support following Guesty’s significant expansion and sustained growth. This new round of funding will support continued development of Guesty’s best-in-class enterprise-level platform for property managers and drive market consolidation to grow the company’s global footprint. Stephen Shanley, Partner at KKR and Head of Tech Growth in Europe; Lauriane Requena, Principal at KKR Tech Growth, and Dennis Kavelman, Inovia Capital Partner, join Guesty’s Board of Directors following this investment.

The STR industry is growing rapidly and is currently valued at $277B. The significant shift in the way customers choose to live, work, socialize and travel, has led to growth in demand for STRs outpacing hotels in every quarter since 2022. To meet these consumer demands and the growth and complexity in the number of properties offered as short-term rentals, property managers increasingly utilize end-to-end property management systems, like Guesty.

Operating in over 80 countries, Guesty is the most comprehensive and easy-to-use platform on the market today. Guesty’s platform provides both enterprise and SMB property managers as well as individual hosts with the necessary tools to manage the entire rental journey, solving some of their biggest pain points. The company’s best-in-class software platform helps property managers advertise and manage their vacation or short-term rental properties, delivering unrivaled guest experiences through a highly intuitive user experience and open API capabilities.

Guesty’s new funding will be used for expansion across the US, enhancing vacation rental offerings with innovative features. Jonah Mandel joins as VP of Sales to lead the expansion. Additionally, Guesty will invest in catering to the European market, focusing on France, Germany, and Spain, while reinforcing its presence in Australia with customer tailored developments.

“Guesty is a best-in-class operator and one of the clear leaders in the property management sector. There has been a significant shift towards the short- term rental market and this investment will support the company as it continues to meet that growing customer need,” said Stephen Shanley, Partner and Head of Europe Tech Growth at KKR. Lauriane Requena, Principal with KKR Tech Growth added. “Guesty’s product is unique in its ability to offer the tools customers require throughout the management process, giving them an incredible platform to continue to expand. We’re pleased to have invested in the business to support this next phase of growth, as they look to the significant opportunity to grow the business internationally.

‘We have been thoroughly impressed with Guesty’s track record in consolidating the STR segment,” says Inovia Partner Dennis Kavelman. ”We are excited to further invest in this category as its importance in the travel sector continues to grow, and we are confident in Guesty’s position as one of the clear software leaders in this area.”

“Guesty has enjoyed astonishing five-fold growth during the last three years. We’re delighted that this has been recognized by top-tier investors KKR and Inovia, and we’re excited to have them onboard alongside our other investors as we enter our next growth period,” says Amiad Soto, Guesty’s CEO & Co-Founder. “The surge in those seeking short-term rentals continues and our platform remains at the vanguard of the industry. As we embark on creating the industry’s first intelligent property management platform, we’ll continue to develop its functionality and AI capabilities to deliver first-to-market features and best-in-class support for our customers.”

KKR is making the investment in Guesty primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise. The firm has executed several transactions as part of its tech growth strategy, including DarkTrace, KnowBe4, o9 Solutions, Onestream, OutSystems, NetSPI and Restaurant365.

About Guesty

Guesty is the all-in-one platform for short-term rental businesses to automate and optimize every aspect of their operations. With purpose-built technology, industry-wide expertise, and an R&D team of 250+ engineers, Guesty ensures that hospitality businesses can streamline and achieve growth while delivering the best value to guests. With a complete suite of features and 200+ industry partners, including major booking OTAs like Airbnb, Vrbo, booking.com, Tripadvisor, Expedia, Hopper, Google Travel, Home & Villas by Marriot, and many more, Guesty is transforming the short-term rental industry with innovative solutions. Today, Guesty has 15 offices and 750+ team members across the globe. For more information, visit guesty.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Inovia Capital

Inovia Capital is a venture capital firm that partners with founders to build impactful and enduring global companies. The team leverages an operator-led mindset to provide founders with multi-stage support, mentorship, and access to a worldwide network. Inovia manages over US$2.2B with operations in Montreal, Toronto, Calgary, Bay Area, and London. For more information, visit inovia.vc.

Media Contact:

Diane McKaye, Si14 Global Communications
GuestyPR@si14global.com

KKR
FGS Global
Alastair Elwen/ Jack Shelley
KKR-Lon@FGSGlobal.com

 

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Dawn Capital and Insight Partners back Spain’s data startup Onum with a $28m Series A

Dawn

The startup will use the money to expand to the US

Zosia Wanat

2 min read

Madrid-based Onum has raised a $28m Series A led by Dawn Capital — just seven months after its launch. The startup, which helps companies manage and monitor big datasets, will use the money to expand globally, mostly to the US.

What does Onum do? 

Onum’s mission is to help companies isolate and observe valuable information within large datasets in real-time.

According to the company, only about 15% of a typical organisation’s data is business-critical, requiring immediate analysis. Since most businesses have no way of discerning the valuable information from the noise, however, many organisations send all of their data to analytics platforms for analysis, resulting in higher costs and longer processing times.

Onum gives the example of a large bank that’s trying to enhance its IT network security capabilities and meet strict compliance requirements. The startup says it allows the bank to focus exclusively on the data that matters, so they can more accurately and cost-effectively detect security threats based on warning signs in their data across their whole network.

Unlike some of its competitors, Onum says it doesn’t only reduce the amount of data that a client needs to process, but can also tailor the service to individual business needs, such as risk reduction, compliance, customer usage, and network efficiency.

The startup was cofounded in October 2023 by Lucas Varela, Pedro Tortosa and Pedro Castillo, the latter of whom also founded cloud analytics and security platform Devo, valued at more than $2bn. It says it’s already won several enterprise customers including major financial institutions, global consulting firms and large telecommunications companies, mostly in Spain.

Where will the money go? 

Onum employs nearly 50 employees, and plans to use the fresh funding to accelerate product development and hire more people this year, opening a new office in Boston.

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Who has invested? 

  • Dawn Capital, London-based B2B software VC venture capital;
  • Kibo Ventures, Madrid-based VC;
  • Insight Partners, New York-based VC.

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Triton signs agreements to sell Norstat

Triton

Stockholm (Sweden) / Oslo (Norway), 10 April 2024 – The Triton Smaller Mid-Cap Fund I advised by Triton (“Triton”) has signed an agreement to sell Nemas Holdco AS (“Norstat” or “the company”), a leading data collector for market research, to Nalka Invest (“Nalka”), partnered with Kirk Kapital. Terms and conditions of the transaction are not disclosed. Closing is subject to customary regulatory approvals.

Since Norstat was acquired by Triton in 2019, it has been developed into a market-leading consumer data collection platform across Europe. Triton has, among other things, supported the company through strengthening its commercial capabilities, internationalising its business through acquisitions, improving its operations (including automation of processes), and adding new digital products and solutions such as Norstat Express and TestingTime. A total of seven strategic add-ons were completed by Norstat in Switzerland, Denmark, the Netherlands, Norway, and the UK from 2021 to 2023.

Today, Norstat serves more than 2,000 market research firms, private and public end-clients, media & advertising agencies, publishers, and consultancies across different industries. It delivers real data collected from real people across Europe that can be trusted to drive decision making.

Daniel Björklund, Investment Advisory Professional at Triton, said: “The team at Norstat have achieved great results and we are happy to conclude a very successful journey together. We have been able to drive significant growth, expanding Norstat’s offering and geographical reach, while continuously building on its strong commitment to quality and client service. We believe Nalka is the right partner to continue Norstat’s positive development and we wish them every success together.”

Erling Eriksen, CEO of Norstat, said: “Norstat and Triton have created and implemented a business strategy that has seen Norstat double in size the last years. Together we have built a bigger, stronger, and more professional company. During the years of Triton’s ownership, we have sought out new routes and opportunities; undertaken a rapid technological shift, launched several digital products and completed seven successful acquisitions and integrations. It’s been a great journey, made possible by fantastic employees dedicated to high-quality data and client service. In Nalka, we have found a new partner that is able to support us from the strong position we have achieved today, and we are very much looking forward to the co-operation”.

Martin Lagerblad, Managing Director, Nalka Invest said: “Norstat is truly a leading company within its market, that we have followed over time. We are impressed by the team and its position as the go-to provider of high-quality data and insights in Europe. The deal is pending regulatory approval, but we are looking forward to our future cooperation with Norstat and to contribute to the company’s development. We are also glad to partner with Kirk Kapital as a large minority shareholder, a strong partner sharing our values and long-term perspective on business development”.  

Norstat and Triton were advised by William Blair as lead financial advisor.

About Norstat
Norstat is one of the leading data collectors for market research and insight in Europe. We use well-grounded research methods to collect reliable data about any desired topic or target group. This information helps you to make the right decisions and become better in what you do. We don’t confine ourselves to a specific method of data collection – we do whatever works best: scientifically proven, fair to the respondents and sustainable for the industry.

The company was established in Norway in 1997 and has since grown its geographical presence to include Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Germany, the United Kingdom, France, Switzerland, the Netherlands, Austria and Italy.

For further information: www.norstat.co

About Triton 
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

For further information: www.triton-partners.com


About Nalka Invest
Nalka is an investment firm investing in market-leading small and medium-sized businesses based in the Nordic and DACH regions. Nalka has offices in Stockholm and Munich and develops independent, competitive, sustainable and long-term profitable companies, through commitment and cooperation.
Read more at www.nalka.com

Press Contacts

Triton

Fredrik Hazén

Phone: +46 709 483 810

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Ascend acquires GMP manufacturing capacity in Alachua, Florida from Beacon Therapeutics

Abingworth

London, United Kingdom, 9 April 2024 – Ascend Advanced Therapies (Ascend), an end-to-end gene therapy development partner, has acquired the Chemistry, Manufacturing and Controls (CMC) team and site in Alachua, Florida from Beacon Therapeutics (Beacon). The transaction brings an operational good manufacturing practice (GMP) facility, process and analytical development capabilities, and additional experts to the Ascend team. It also includes a long-term partnership with Beacon to continue manufacturing its products for clinical and commercial use, securing product supply for Beacon, and enabling it to focus on clinical development.

“Ascend was founded with a unique science and technology-driven strategy. As we continue building the most flexible adeno-associated virus (AAV) platform across serotypes on the market, we also understand the critical value of our experienced employees,” Mike Stella, CEO at Ascend offered. “This acquisition allows us to now support customers from research through to commercialization and adds to one of the most experienced gene therapy teams in the market. Every day we are working together to grow the company with a long-term mindset of quality first to appropriately balance quality and yield for the life of each product.”

“We are excited to enter this strategic arrangement with Ascend to advance our sight saving therapies toward approval. This alignment is critical to securing GMP drug product supply for our late-stage clinical asset AGTC-501 for the treatment of X-Linked Retinitis Pigmentosa,” David Fellows, CEO at Beacon Therapeutics continued. “The Ascend team brings significant experience in gene therapy manufacturing and a strong commitment to building capabilities to support future Beacon pipeline programs.”

The Beacon Therapeutics portfolio currently includes three ocular gene therapy products utilizing AAV to deliver gene constructs that address retinal disorders. The proteins expressed from the transduced constructs compensate for deficiencies in the patient cells, or otherwise intervene in pathological processes, potentially restoring vision or preventing disease progression.

Alachua is a leading biotech hub in Florida and continues to attract investments in advanced therapeutic programs. The facility is highly synergistic to a growing global network of Ascend sites that has been built via critical acquisitions. From early-stage R&D at the San Francisco Bay Area site, to process development, optimisation and forthcoming GMP QC release capabilities at the Munich, Germany site and now the GMP facility in Alachua Florida, Ascend has the combined network and product experience to deliver total support for clients at all stages of development.

The transaction was closed on 1st April 2024, and integration efforts began immediately. To learn more about Beacon Therapeutics, please visit: https://www.beacontx.com/. To learn more about Ascend, please visit: www.ascend-adv.com or email business@ascend-adv.com.

About Ascend

Ascend Advanced Therapies (Ascend) is a specialist adeno-associated virus (AAV) development partner working to bring next-generation gene therapy products to market. Using an acqui-building approach, Ascend hit the ground running in 2023 with operational facilities globally, and a team of experts that offer unparalleled insight and collaboration when delivering products from the bench through to commercialization. The flexible platform supports all AAV serotypes across scales with proprietary and partnered technologies and a world-class analytical toolkit. The team continuously aims higher for the long run when collaborating with partners to balance yield and quality of accessible life-saving therapies. Learn more at www.ascend-adv.com.

About Beacon Therapeutics

Beacon Therapeutics is an ophthalmic gene therapy company founded in 2023 to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness. Beacon has an established scientific foundation that combines a late-stage development candidate to treat X-linked retinitis pigmentosa (XLRP), as well as two preclinical programs, one targeting dry age-related macular degeneration (AMD) and another targeting cone-rod dystrophy (CRD), an inherited retinal disease. The Company is supported by funds from Syncona and additional investors including Oxford Science Enterprises. To learn more, please visit www.beacontx.com.

For media inquiries, please contact:Media team: media@ascend-adv.com

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Verdane partners with global regulatory software leader Corlytics

Verdane Capital
  • Verdane has made a majority investment in Corlytics, the global leader in regulatory intelligence, content and automated policy compliance and attestation, following a process managed by investment bank Baird  
  • This partnership will enable Corlytics to cement global category leadership, accelerating organic growth and M&A 
  • Corlytics growth will build on their strong client base which includes 40% of the top 30 Systematically Important Financial Institutions (SIFI)  

John Byrne, Corlytics’ founder and CEO, commented, “Corlytics has successfully progressed in developing new products to further improve our value proposition to Tier 1e clients globally. This investment from Verdane ensures the continued growing market leadership for Corlytics. We look forward to partnering with the Verdane team and with their experience and expertise, we expect to accelerate organic growth and augment that with M&A activity. As well as investing significantly in our ‘intelligent content’ offering, combining data, software and AI, we will continue to lead the RegTech sector consolidation with more complementary acquisitions, following our recent transactions with Clausematch and ING SparQ.”  

Nils Vold, Partner at Verdane, commented, “Verdane is delighted to back John and his impressive team at Corlytics. This is a centrepiece majority investment from our newly raised €1.1 billion Edda III Fund and we are thrilled that John and Corlytics chose to partner with Verdane against very strong market interest in the business. We are an active and experienced investor in the RegTech sector and we identified Corlytics as the global category leader in its field, helping banks and financial services companies manage their compliance obligations in a complex and fast-changing environment.”   

Sebastian Wintgens, Principal at Verdane, added, “We are excited to partner with Corlytics and look forward to leveraging our expertise in helping European software leaders to grow, both organically and through strategic acquisitions, as well as bringing our international industry networks to help Corlytics continue to thrive and succeed as it expands globally.”  

 

As part of the Verdane investment and partnership, Corlytics is pleased to announce an expansion of its board of directors, adding further expertise to support the company’s growth plans.   

Simon Russell joins Corlytics as Chair. He has almost 30 years of software advisory expertise. Over the last 15 years, Simon led technology investment banking at firms including Nomura and Dresdner Kleinwort and he served on banking management committees. He now works as a Chair and Non-Executive Director at various international software companies.  

Simon Russell, new Chair at Corlytics, said, “I have long admired Corlytics as a real RegTech industry leader. I am delighted to be partnering with John and Verdane to create value through an active acquisition agenda, plus providing Corlytics with wider support on delivering its ambitious growth plans.”  

Trintech founder Cyril McGuire will continue to serve on the Corlytics board as a Non-Executive Director and his Infinity Capital Fund has also invested for a minority equity stake in the company.  

The terms of the transaction have not been disclosed.   

Advisors  

For Corlytics: Baird (financial advisor), Dentons (legal counsel), Liberty (management advice), BDO (financial and tax DD)  

For Verdane: Trinity Square (strategic advisor), Burness Paull (legal counsel), McKinsey (commercial due diligence), Deloitte (financial and tax due diligence), PwC (structuring)  

 

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Purple Digital Storytelling Announces Strategic Acquisition of PLANWORX AG

Holland Capital

Amsterdam, Munich,  April 9, 2024 – In a strategic move to transform the landscape of digital experiences, Purple Digital Storytelling (‘Purple’) announces the acquisition of the Munich based agency PLANWORX, thereby initiating The Storytelling Group. This acquisition marks a turning point in the digital storytelling space, offering an expanded portfolio of services that range from the creation of permanent installations to dynamic event-based storytelling.

The Digital Storytelling Universe
Purple, known for designing and delivering world class experience centers powered by their digital storytelling software ‘Hyro’, and PLANWORX, celebrated for their cutting-edge event experiences will jointly deliver unparalleled digital and live experiences, catering to a wide range of global brands and audiences.

The acquisition aims to benefit from the collective expertise of both companies while maintaining their unique identities and strengths. Purple’s design and technological abilities and PLANWORX’s dynamic approach to live marketing and events are expected to create synergistic outcomes, driving innovation, and expanding the industry of digital storytelling.

Joost Rueck, CEO of Purple and Chairman of the Storytelling Group, expressed enthusiasm about the new direction, “This acquisition is a game changer for us. Looking at this from a market perspective, it allows us to serve our customers better because of our increased reach and offerings. It’s a stepping stone to being a global player in digital brand experience solutions.”

Chris Boehm-Tettelbach, founder of PLANWORX: “Joining forces will allow us to establish a full-spectrum storytelling powerhouse capable of addressing every aspect of digital brand experiences from concept to execution. Using the latest technology we bring these narratives to life – in physical spaces, live events or online.”

Ewout Prins, Managing Partner Holland Capital, “The acquisition of PLANWORX is a significant step for Purple in becoming a true global player in digital and immersive experiences. We are happy that we have been able to support this cross-border transaction from our offices in The Netherlands and Germany. We look forward to supporting the team in their growth ambitions and will continue to keep an eye on the market for additional strategic acquisitions”.

Clients of Purple and PLANWORX can look forward to increased capacity, creativity, and services, enhanced by the shared knowledge, technology, and creative drive of both teams. This collaboration is expected to set new benchmarks in the industry, establishing The Storytelling Group’s commitment to be at the forefront of digital storytelling innovation.

About Purple Digital Storytelling

Founded in 2011, Purple Digital Storytelling, based in the Netherlands, specializes in capturing audience’s attention through innovative digital narratives and immersive experiences. Leveraging their Hyro storytelling software, they offer a full suite of services from strategy and design to content production, tailoring each project to its unique client’s and their specific needs. https://www.purplestorytelling.com/

About PLANWORX

PLANWORX, founded in 1987, is a digital creative agency celebrated for their cutting-edge event experiences. By using the latest technology, they bring these narratives to life – in physical spaces, at live events or online. PLANWORX sees itself as an enabler, digital pioneer, and creative catalyst for global corporations as well as medium-sized companies, bridging the communication gap between businesses, employees, and end customers. With a team of 50 people, PLANWORX operates from Munich. https://planworx.de/en/

About The Storytelling Group

The Storytelling Group is home to Purple Digital Storytelling and PLANWORX. With a focus on creating engaging narratives through digital experiences in physical spaces, The Storytelling Group is dedicated to pushing the boundaries of storytelling, serving a roster of renowned global brands, and setting new industry standards. https://thestorytellinggroup.com/

About Holland Capital

Holland Capital has been responsibly and successfully investing in promising Dutch and German SMEs with growth ambitions for over 40 years. The team understands entrepreneurship and fosters an open, sustainable, and professional relationship with the management teams of the invested companies, aiming for mutual growth. With offices in Amsterdam and Düsseldorf, Holland Capital focuses on Healthcare, Technology, and the recently added Agrifood-Tech sector. The firm actively supports Purple Digital Storytelling in both operational and strategic development since becoming a shareholder in December 2020.

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Trellix Collaborates with Google Cloud to Protect Enterprises and Governments

Stg Partners

Trellix, the cybersecurity company delivering the future of extended detection and response (XDR), today announced new collaborations with Google Cloud to simplify customer access to security protections in the cloud. In addition to achieving Google Cloud Partner Advantage Build authorizations for both Google Cloud and Google Workspace, Trellix has joined Google Cloud Ready – Distributed Cloud initiative. Through both, Google Cloud customers are equipped with open, interoperable security solutions from Trellix.

Trellix and Google Distributed Cloud

Google Distributed Cloud’s air-gapped option meets rigorous regulatory, durability, and availability standards for customers requiring air-gapped systems with no connectivity to Google Cloud or the public internet. Trellix is working towards making Trellix Endpoint Security available to Google Cloud customers seeking on-premises protections through the new Google Cloud Ready – Distributed Cloud initiative.

“Joining the Google Distributed Cloud initiative represents a pivotal milestone in safeguarding heavily regulated sectors and securing our customers where they operate,” said John Morgan, XDR General Manager at Trellix. “For customers seeking the security benefits of on-premises infrastructure while leveraging Google Cloud’s state-of-the-art cloud technology, Trellix stands ready to ensure comprehensive protection.”

MORE AT TRELLIX.COM

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