Category Archives: News

ChannelEngine raises €5M Series A funding round to expand its marketplace integration platform across key global markets

Inkef Capital

Amsterdam – January 19, 2021 – ChannelEngine, the marketplace integration platform for distributed e-commerce, enabling brands and retailers to manage and optimize their product listings and orders across online sales channels, announces €5 million in Series A funding led by INKEF Capital, with participation from existing investor Airbridge Equity Partners.

ChannelEngine is on a mission to bridge the gap between the backend systems of its customers and online sales channels such as Amazon, Zalando, Google, eBay and many more, on a global scale. The current need for new solutions in the market, combined with the rapid speed at which companies are moving to direct-to-consumer (D2C) marketplace sales, makes it the ideal time for companies to leverage ChannelEngine’s innovative e-commerce platform, to scale up faster and more efficiently.

Having more than tripled its revenue in 2020 with limited funding, ChannelEngine has raised this €5 million Series A round to accelerate its global rollout and continue the development of their product and channels. The funding round will be used to continue the rollout in Europe, and to expand into APAC, Russia, the Middle East as well as both North and South America. In addition, the company plans to hire 70 new employees worldwide in 2021 across various levels and roles.

Kyang Yung, Junior Partner at INKEF comments that “It goes without saying that the company has grown like a rocket ship off the back of COVID, although pre-COVID rates were already more than impressive. And, as brands across the globe are finally taking the leap to go direct-to-consumer, ChannelEngine’s customer roster now also boasts some pretty impressive global brands. For us, it was the interesting market position, the traction, and last but not least, the team’s deep domain knowledge of e-commerce which made us decide to make this strong, conviction-based investment.”

With e-commerce currently driving more than 18% of global retail, a number increasing rapidly since the dawn of the pandemic, and marketplaces generating more than 50% of this revenue, growing towards 75%, it is clear that the market is heading in one direction. With new marketplaces being launched globally, this shift further underlines the importance of connecting to, managing and integrating with a range of sales channels through one central platform. Trusted by global brands such as JBL, Bugaboo and Staples, amongst hundreds of others, ChannelEngine is ready to claim its position as a global market leader within the e-commerce marketplace space.

Jorrit Steinz, CEO & Founder of ChannelEngine adds, “On a global scale, e-commerce is becoming a driving force of all retail sales. Customers have shifted their search behavior for products from search engines to marketplaces. Large e-commerce players, as well as search engines, social media platforms and comparison sites are turning into marketplaces themselves. While this creates more sales opportunities for brands and retailers, they are faced with the challenge of managing all these different channels at the same time. That’s why we’ve built ChannelEngine, a powerful Software as a Service platform that enables Brands, Retailers and Distributors to connect, automate and manage their sales on all these international sales channels.”

About ChannelEngine
With a single powerful Software as a Service integration, ChannelEngine.com connects a sellers systems to international marketplaces and sales channels while optimizing sales, minimizing time, and maximizing profit and reach. It offers brands, distributors, and retailers automated order and return systems, an advanced management suite and rich partner ecosystem, to bring their sales to the next level.
ChannelEngine empowers companies by creating a seamless integration between businesses and marketplaces. Learn more: www.channelengine.com.

About InkefINKEF Capital is a leading venture capital firm based in Amsterdam with a proven history in backing promising early stage companies in Europe. INKEF takes pride in being a patient, long-term investor with the ability to support companies through several rounds of funding. From the early stages of being a technology or life science venture, INKEF Capital supports entrepreneurs building their ideas into successful international businesses. Learn more: www.inkef

Media Contact
Vanessa Stroet
PRLab
vanessa@prlab.co

Categories: News

Crafting a modern insurance brand

Felix Capital

At Felix, our core thesis is that digital technologies are shaping consumer lifestyles, giving rise to a new generation of loved and trusted brands and platforms that offer a better customer experience (and the enabling software that helps companies do this). While these changes are deeply evident in the way we now discover and buy products (see Farfetch, Goop, Mejuri, HighSnobiety, etc.), eat (see Deliveroo, HungryPanda, Frichti etc.), travel and get around (see Heetch, Dott, VanMoof etc.), and improve wellness & fitness (see Peloton, Urban, Unmind etc.) it’s becoming increasingly obvious that consumers also want this from one of the most important parts of their life — their personal finances.

For the past few years, we’ve proactively started deep-diving into the consumer finance and insurance sectors, building our conviction in the opportunity to create a modern, better insurance brand and customer proposition. The market presents an exciting opportunity — large in size, a necessary purchase, dominated by legacy practices and almost entirely lacking in customer love. In fact, the industry has one of the lowest average Net Promoter Scores and customer churn has been growing.

However, it’s not an easy industry to disrupt, and transforming it requires founders that are passionate to change the standard ways of working, able to navigate the regulatory and operational complexity of the industry, and deliver product innovation and a truly better customer experience. We believe we have found such a company in France with Leocare, and are excited to share our investment as we lead their Series A!

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Leocare’s founders Christophe and Noureddine started the company with the mission to provide “services to protect all the most important moments in your life” offering insurance for your car, home, smartphone, motorbike (and soon other areas too). They built a digital platform where consumers can easily buy, customise and manage their personal insurance — all from their mobile app. The founders have the ambition for Leocare to become a new type of insurance, not only providing comprehensive coverage but also superior service and ease of use, and over time providing preventative assistance and becoming a highly trusted brand.

We first met Christophe and Noureddine over a year ago and have been consistently impressed by their passion and focus (some would even say obsession) with creating a great customer experience and clear product vision. Despite — or perhaps because — neither of the founders come from an insurance background, they were able to tackle the problem with a fresh pair of eyes. Tired of the lengthy process they’ve experienced themselves in getting an accurate quote for insurance, and the “black box” nature of the pricing, they built one of easiest and more seamless customer experiences with 4 steps to a quote and a live, dynamic pricing calculator that shows potential customers exactly what goes into it. Customers can manage all their insurance policies from the same app and easily make changes or updates to their policies (for example, if they’ve moved to a new house, or had a baby, or to pause or cancel a policy) as well as purchase additional policies

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Being mobile-first isn’t just a gimmick, but is actually one of the keys to Leocare creating a service that customers love. While most other insurance providers fervently hope customers never contact them, Leocare makes it as easy as possible for customers to get ongoing support, from providing thoughtful reminders and notifications in the app (for example, the company updated its customers on changing confinement rules in their location during the recent Coronavirus lockdowns), to personalised driving suggestions for car owners. Customers can also chat with customer support in the app and file claims digitally, without traditionally lengthy paperwork. As a result, instead of the industry standard of engaging with customers once a year, Leocare’s customers often interact with their insurer monthly, deepening their sense of loyalty.

And this approach of simplicity, transparency, flexibility (as the insurance is charged as a monthly subscription), and superior customer service is clearly resonating well with consumers! To date, the Leocare app has been downloaded 160k times and is trending on the French app store, growing 40% month over month and having now reached over 10,000 French households. Impressively, the company continues to earn its customer love and loyalty with increasing customers choosing to buy a second or even third policy line from Leocare.

Christophe and Noureddine won’t rest on their laurels though. They have an ambitious plan to continue improving and evolving their product and service. The roadmap includes exciting plans such as:

  • Developing a bot to automate and facilitate the management of claims, and keep Leocare customers informed in real-time of the processing of their claims, via push notifications and a dedicated timeline in the app
  • TakeCare — a brand new road safety service for car insurance customers
  • An in-app marketplace to connect customers with licensed and vetted professionals to help with home and car maintenance and repair

Where most insurers hardly know their customers at all, Leocare is building its brand on the trust of customers who love the service and winning that customer love by putting them first. We are thrilled to be partnering with the team today (alongside our friends at Ventech and Daphni) and look forward to the journey ahead!

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Coller’s eighth fund holds final close at just over US$9bn

Coller Capital

Coller Capital, a leading global investor in private equity secondaries, closed Coller International Partners VIII (CIP VIII) on 18 January 2021, with committed capital (including co-investment vehicles) of just over $9 billion.

Like its seven predecessor funds, CIP VIII will take a flexible approach. Advised by a multinational team based in London, New York and Hong Kong, the fund will target a wide array of secondary transactions, targeting assets and sellers located anywhere in the world, and making individual investments of up to $1 billion or more in size.

CIP VIII has over 200 Limited Partners worldwide. At the end of December 2020, the fund had already committed almost one third of its final committed capital.

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SPINS Announces Growth Investment Led by Warburg Pincus

General Atlantic and Georgian also invest in business; partnership to accelerate SPINS’ strategic initiatives and growth opportunities

January 19, 2021

SPINS, a leading wellness-focused data, analytics and technology provider in the U.S., today announced a significant investment from Warburg Pincus, General Atlantic and Georgian. The growth investment will support future strategic initiatives including sales and marketing expansion, retail partner value expansion, new product development, and new vertical expansion. Terms of the transaction were not disclosed.

For two decades, SPINS has been a passionate advocate for the Natural and Specialty Products Industry. SPINS is committed to laying the foundation for the next generation of growth, providing dynamic data, actionable insights, product attributions, and digital activation solutions. SPINS helped establish a common language across the health and wellness ecosystem for key stakeholders including retailers, brands, distributors and consumers.

“Our mission has always been to increase the presence and accessibility of natural and better-for-you products that help people live their healthiest and best lives and drive sustainable production practices in North America. This mission, combined with our expertise in product intelligence and insights, is leading to more vibrant living for consumers and bigger success of our clients,” said Tony Olson, Founder & CEO, SPINS LLC. “We are beyond thrilled to take our vision to the next level with Warburg Pincus, General Atlantic and Georgian by leveraging their global resources and experience in data and information businesses to enable SPINS to meet the rapidly growing demand for our services.”

“SPINS is the leading provider of omni-channel and retailer-specific product measurement, mission-critical performance data, and unique insights into consumer trends and digital activation. We are incredibly excited to partner with Tony and the rest of the SPINS team,” said Stephanie Geveda, Managing Director, Head of Business Services, Warburg Pincus. “This investment underscores our long-term commitment to strategically investing in market-leading, vertical-specific B2B information services businesses that capture unique data,” added Justin Sadrian, Managing Director, Technology, Warburg Pincus.

“SPINS has developed a highly-differentiated industry platform that serves as a pivotal source for business performance and market information to retail and consumer brands. Supported by Tony’s strategic vision, SPINS continuously innovates on its platform to meet customers’ evolving needs, which has allowed the company to build deep relationships in the wellness retail market,” said Peter Munzig, Managing Director, General Atlantic. “We’re looking forward to working alongside the SPINS team as they continue to expand the reach of their suite of digital solutions to address untapped growth opportunities in the market.”

“SPINS has been on a mission to accelerate the rapidly growing Natural and Specialty Products Industry by providing unique insights to retailers and brands,” said Margaret Wu, Lead Investor at Georgian. “The company’s rich dataset has enabled the team to develop a high-value AI roadmap that will drastically enhance its product intelligence offerings. We are excited to partner with SPINS on this journey and support the team in helping customers realize greater value, faster.”

Jefferies LLC acted as exclusive financial advisor and Reed Smith LLP served as legal advisor for SPINS.

About SPINS

SPINS is a wellness-focused data company and advocate for the Natural Products Industry. Over the past two decades, SPINS’ investments have led to a common language used across the industry as well as laid the foundation for the next generation of innovation, while providing dynamic data, actionable insights, and digital activation solutions that drive growth for our clients & partners and contribute to a healthier and more vibrant America. Learn more at www.spins.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $56 billion in private equity assets under management. The firm’s active portfolio of more than 190 companies is highly diversified by stage, sector, and geography. Warburg Pincus has been a long-time, active investor in vertical-specific data and information businesses, with investments including, Reorg Research, Intelligent Medical Objects, RS Energy, CAMP Systems, Gordian Group, Interactive Data Corporation, and TurnItIn. Warburg Pincus also has significant experience investing across the food and food retail technology value chain, with investments including, Certified Sciences, GA Foods, and Grubhub Seamless, Salsify, and Trax. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $86 billion in over 910 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Georgian

Georgian is a fintech company investing in high growth software companies that harness the power of data in a trustworthy way. At Georgian, we’re building a platform to provide a better experience of growth capital to software company CEOs and their teams. Georgian’s platform is designed to identify and accelerate the best growth-stage software companies, taking an intelligent, data-first approach to solving the key challenges CEOs face as they grow their businesses. Based in Toronto, Georgian’s team brings together software entrepreneurs, machine learning experts, experienced operators and investment professionals. For more information, visit https://georgian.io/.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Michael Erwin
SPINS merwin@spins.com

Sarah McGrath Bloom
Warburg Pincus Sarah.Bloom@warburgpincus.com

Katie Schiefer
Georgian katie@georgian.io

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Vera Therapeutics Launches with $80 Million Series C Financing to Develop Phase 2b Novel Biologic for Kidney Disease

Abingworth

Potential first-in-class disease-modifying biologic in late-stage clinical studiesExperienced executive development team from Gilead Sciences

 

SOUTH SAN FRANCISCO, Calif., January 19, 2021 – Vera Therapeutics, Inc., a clinical-stage biotechnology company focused on developing treatments for immunological and inflammatory diseases, today announced its launch backed by $80 million Series C financing led by Abingworth LLP. Other investors included Sofinnova Investments, Longitude Capital, Fidelity Management & Research Company LLC, Surveyor Capital (a Citadel company), Octagon Capital, Kleiner Perkins, GV (formerly Google Ventures), and Alexandria Venture Investments.

Proceeds from the financing will support the advancement of Vera’s lead clinical candidate, atacicept, a novel inhibitor of B cells and plasma cells, in patients with IgA nephropathy (IgAN). The proceeds will also be used to scale the company’s manufacturing capabilities and expand Vera’s therapeutic pipeline in immunologic and inflammatory disease.

In-licensed from Merck KGaA, Darmstadt, Germany, atacicept has been studied previously in autoimmune diseases and shown to reduce autoantibodies in a dose-dependent fashion with once-weekly subcutaneous dosing and has a well-established and acceptable clinical safety profile. New clinical trial results in patients with IgAN presented in 2020 showed that atacicept significantly reduces galactose-deficient immunoglobulin A (Gd-IgA1) – the source of immune complexes that cause disease­ – and proteinuria. Vera is on track to start a Phase 2b study in IgAN patients in mid-2021 and is investing in commercial-scale manufacturing capabilities.

“The strong support of our syndicate reflects strong conviction in Vera’s clinical development experience and the potential of our lead asset to target the source of immune complexes in patients with IgAN and change the standard of care,” said founder and CEO Marshall Fordyce, MD. “Unlike other drugs in development to treat IgAN, a rare disease with no approved treatments, atacicept significantly reduces galactose-deficient immunoglobulin A (Gd-IgA1) – the source of immune complexes that cause disease – at doses with a well-established and acceptable safety profile. Therefore, atacicept may be uniquely positioned to be disease-modifying for these patients with no current treatment options.”

Vera has executive and clinical development teams with deep experience in drug development and commercialization from Gilead Sciences. Joanne Curley, previously Vice President of Project and Portfolio Management, joined as Chief Development Officer; Lauren Frenz, who previously led US marketing of GENVOYA, joined as Chief Business Officer; and Tom Doan, previously Executive Director, Clinical Operations and Therapeutic Area Head, Inflammatory/Respiratory, was appointed Senior Vice President, Clinical Operations.

The Company’s Board of Directors includes Kurt von Emster (Managing Partner, Abingworth), Patrick Enright (Managing Director, Longitude Capital), Maha Katabi (General Partner, Sofinnova Investments), Beth Seidenberg (General Partner, Kleiner Perkins), Scott Morrison (former Partner and U.S. Life Sciences Leader, Ernst & Young), Andrew Cheng (President and CEO, Akero Therapeutics), and Marshall Fordyce (President and CEO, Vera Therapeutics).

“Vera has an outstanding team with track records in successful clinical and commercial development,” said Abingworth’s Managing Partner Kurt von Emster. “Dr. Fordyce brings significant leadership and entrepreneurial experience to this unique opportunity, where we have a clear line-of-sight from a well-validated biologic target to a substantially de-risked drug product, in a disease area that is commercially underserved, presenting a near-term opportunity to demonstrate disease modification for patients with limited options.”

 

About Vera Therapeutics

Vera Therapeutics is a clinical-stage biotechnology company focused on developing treatments for immunological and inflammatory diseases. Vera’s mission is to develop and commercialize transformative new therapies that improve patients’ lives. Vera’s lead program is atacicept, a fusion protein that is a dual inhibitor of B lymphocyte stimulator (BLyS) and a proliferation-inducing ligand (APRIL), which is in development for IgA nephropathy (IgAN), also known as Berger’s disease. Longer-term, the Company is building a pipeline of clinical-stage molecules with the potential to substantially improve lives. For more information please visit: www.veratx.com.

 

About Abingworth
Abingworth is a leading transatlantic life sciences investment firm. Abingworth helps transform cutting-edge science into novel medicines by providing capital and expertise to top calibre management teams building world-class companies. Since 1973, Abingworth has invested in 168 life science companies, leading to 44 M&As and 69 IPOs. Our therapeutic focused investments fall into three categories: seed and early-stage, development stage, and clinical co-development. Abingworth supports its portfolio companies with a team of experienced professionals at offices in London, Menlo Park (California), and Boston. For more info, please visit abingworth.com.

 

About Atacicept

Atacicept is a recombinant fusion protein that contains the soluble TACI receptor that binds to the cytokines B lymphocyte stimulator (BLyS) and a proliferation-inducing ligand (APRIL). These cytokines are members of the tumor necrosis factor family that promote B-cell survival and autoantibody production associated with certain autoimmune diseases, including IgA nephropathy, also known as Berger’s disease, and systemic lupus erythematosus (SLE). Unlike other drugs currently in development for IgAN, atacicept is a novel, disease-modifying agent that is a dual inhibitor of BLyS and APRIL, positioned for best-in-class targeting of B-cells and plasma cells, to reduce autoantibodies, and a well-established and acceptable clinical safety profile. Atacicept also has a proven dose-dependent effect on key biomarkers and clinical markers and a well-established safety profile compared to other drugs in development for IgAN.

 

Media Contact:

Greig Communications, Inc.
Kathy Vincent
(310) 403-8951
kathy@greigcommunications.com

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Montagu Private Equity to acquire majority position in ITRS Group from TA Associates

TA associates

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announces it has agreed to acquire a majority position in ITRS Group (“ITRS”), a leading global provider of real-time monitoring and analytics software from TA Associates (“TA”), who will remain a minority holder alongside Montagu and Management.

Completion is expected next month, subject to customary closing requirements. The terms of the transaction were not disclosed.

ITRS’ software portfolio supports the “always on” enterprise, ensuring operational resilience for businesses operating in environments where technology failure means business failure. Headquartered in London, the company has established itself as an innovative and trusted partner, and today has over 3,000 clients across the globe, including nine out of the ten Tier 1 investment banks. In addition, its recent acquisition of Uptrends, a Netherlands-based website and web performance monitoring solution, has further strengthened ITRS’ product suite.

Since its establishment in 1997, ITRS has transformed from a European, single product solution to the capital markets industry, to today providing a comprehensive product suite to customers across a range of industries, including capital markets, telecommunications and healthcare. This has been achieved through impressive organic growth and M&A activity, and Montagu intends to work with the management team and leverage its experience, network and resources to continue to drive growth and further expansion.

Guy Warren, CEO of ITRS, said: “We are delighted to welcome Montagu into ITRS Group. Under TA Associates’ ownership, we have broadened our product suite and significantly expanded our customer base, and we thank them for their continued support. The Montagu team have shown a strong understanding of our business and its potential, and share our ambitions, and we are excited to partner with them for the next stage of growth.”

Christoph Leitner-Dietmaier, Director at Montagu, said: “It is a privilege for Montagu to back Guy and his leadership team, and we look forward to partnering with TA on this investment in ITRS. We are truly impressed by the leading position ITRS has established and are excited to support their vision of becoming the single pane of glass for IT monitoring for the enterprise customer.”

Morgan Seigler, Managing Director at TA, said: “We have greatly enjoyed partnering with Guy and the entire team at ITRS over the last four years to help drive the company’s growth and expansion. We look forward to collaborating with the ITRS team and Montagu to continue this successful journey.”

The sellers were advised by Jefferies International and Travers Smith LLP. Montagu was advised by Arma Partners and Freshfields Bruckhaus Deringer.

About Montagu Private Equity
Montagu Private Equity is one of Europe’s leading private equity firms and has been investing in businesses for over fifty years. Montagu’s investment strategy is focused on partnership with management in buyouts of high-quality companies operating in stable and growing sectors, providing products and services that their customers would badly miss. It develops a shared strategic vision with management and then provides the necessary financial, strategic and operational resources to help realise that vision and support growth. Montagu partners with companies with enterprise values between €200 million and €1 billion and has €8bn assets under management. For additional information on Montagu, visit www.montagu.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, the firm employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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bonify acquires loan brokerage software from Joonko AG

Mouro Capital

Berlin-based fintech bonify, Germany’s leading credit rating platform, has acquired the credit brokerage software of Joonko AG. With this acquisition, bonify optimises the distribution and brokerage of consumer loans on its online platform.

With the acquisition of the credit brokerage software, bonify is taking consumer lending to a new level. “By integrating Joonko’s technology, bonify users can apply for a loan and realise long-held dreams faster and easier than ever before”, commented Dr. Andreas Bermig, co-founder of bonify. “The process, starting with the loan comparison and ending with the signing of the contract, takes place completely digitally in just a few minutes”. The new loan brokerage software is expected to be in place as early as spring 2021.

Lending gets faster, easier and completely digital

Anyone who has ever applied for a loan in Germany knows how inconvenient and lengthy the process can be. Discussions and appointments with the bank, the submission of documents such as proof of salary and creditworthiness, as well as the cumbersome verification on site or via PostIdent procedure unnecessarily drag out the application. With the digital account view, the process is optimised and digitalised. “A large part of the more than one million bonify users have already linked their bank account with their own bonify account. The connection enables us to suggest credit offers to our users that are perfectly tailored to their financial situation”, explains Bermig.

The use of the new technology eliminates the need to upload, print and send in documents. Identification and signing are conveniently carried out online. Thanks to the Videoident and eSign processes, the loan application can be completed in just a few minutes from the comfort of your home. All that is needed is an official identification document, such as an ID card, and a video camera. The loan is paid out a few days after the loan agreement has been processed.

bonify – Forteil GmbH | Reichenberger Straße 124 | Aufgang B-5 | 10999 Berlin presse@bonify.de | +49 30 346 466 709

About bonify

The FinTech start-up bonify enables consumers to gain transparency on both credit score and on financial situation. bonify enables users to check their credit score online at any time and free of charge. In addition, bonify offers various financial management tools for the analysis and optimisation of their financial situation. Based on this, users receive product offers tailored to their own creditworthiness – including loans and offers for gas, electricity, or DSL internet. Other free products include ‘tenant information’ for finding accommodation and ‘FinFitness’ for assessing and actively improving financial health. bonify was founded in Berlin in 2015 and is managed by Dr. Gamal Moukabary (Founder), Dr. Andreas Bermig (Founder), Raj Cheemakurti (CPTO), Frank Stowasser (VP Marketing) and Sarah Schuster (VP Growth & Customer Engagement). The startup currently employs more than 30 people from over 15 nations. Renowned investors such as Experian, Santander InnoVentures, Mosaic Ventures, Ribbit Capital, Index Ventures and DN Capital as well as the founders of Zalando and Raisin have so far invested in bonify. bonify is an account information service approved and supervised by the German Federal Financial Supervisory Authority (BaFin). Learn more at ​www​.bonify.de.

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RAD-x adds Radiologisches Zentrum Lahnstein (RZL) to its group

GIlde Healthcare

Utrecht (the Netherlands) – RAD-x is welcoming Radiologisches Zentrum Lahnstein (“RZL”) in its group.

Radiologisches Zentrum Lahnstein is a provider of diagnostic imaging services in the region Koblenz, Germany. Its three radiologists and almost 30 staff serve the community in and around Lahnstein and provide imaging services to several local hospitals.

RAD-x is pleased to see its Partnership model confirmed by the integration of RZL and expects to further accelerate the growth of its platform structure in 2021.

 

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over $1.5 billion across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, MedTech and therapeutics. The venture & growth companies are based in Europe and North America. For more information, visit the company’s website at www.gildehealthcare.com.

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Gimv sells OTN Systems, a provider of telecommunication solutions for industrial markets, to listed Belden Inc.

GIMV

Gimv, co-shareholders Manuardeo and management, today announce that they are selling OTN Systems to US-based Belden Inc., a global provider of telecommunication transmission and security solutions for corporate and industrial markets. Having expanded significantly after sustained development efforts, OTN Systems is ready to continue growing internationally with Belden Inc.

Gimv acquired the OTN business unit from Nokia Siemens Networks via a carve-out in 2008 and subsequently established OTN Systems (Olen-B, www.otnsystems.com). The company develops and distributes mission-critical telecommunication solutions for industrial markets such as electricity, transport and oil & gas.

OTN Systems successfully launched XTran, a next generation platform tailored for industrial applications. Its underlying network technology choices avoid the complexity of generic solutions developed for Telecom Operators. XTran secures reliable operations in harsh environments, while its management system (TXCare) supports an intuitive and simple handling.

Under the energetic leadership of its CEO, telecom & technology veteran Dirk Van den Berghen (ex-Alcatel and ex-LMS/Siemens), OTN Systems successfully deployed XTran in the global market thanks to a sustained development effort, substantial operational improvements and a significant expansion of the global partner network, including a number of important OEM agreements such as with Belden Inc..
Today OTN Systems operates across the world through its own sales offices and many local partners. The company employs more than 140 people, about 60 of them in R&D. Since its market introduction in 2015, more than 100 customers worldwide have selected XTran as they migrated their legacy telecom networks to a next generation technology.

In the transaction announced today, Gimv along with co-shareholders Manuardeo and management, are selling OTN Systems to US-based Belden Inc. (NYSE: BDC), a global provider of telecommunication transmission and security solutions for corporate and industrial markets. Belden employs approximately 7 000 people worldwide and in 2019 posted consolidated sales of 2.13 billion USD.

Bart Diels, Managing Partner at Gimv and Chairman of the Board of OTN Systems, states: “We are particularly proud that OTN Systems has built a top-notch product portfolio. In several recent projects, OTN Systems’ commercial teams and XTran have outperformed larger telecommunications suppliers, resulting in exponential growth. As part of the Belden group, OTN Systems is now ideally placed to continue growing internationally.”

Dirk Van den Berghen, CEO of OTN Systems, adds: “OTN Systems’ commercial success with XTran is the result of clear choices made. Unlike its larger traditional competitors, OTN Systems focuses exclusively on the specific telecommunication needs of industrial networks. It has also chosen to devote almost all its attention and resources to developing and marketing the new technology platform, without neglecting the many existing customers of the more mature OTN legacy product. The acquisition by Belden will further accelerate the sales expansion of the XTran portfolio as an essential part of a broader solution for industrial customers, marketed by a larger, global sales organization.” 

This transaction has a positive impact of about 15 million euro on Gimv’s net asset value as per 30 September 2020. The return over the entire investment period exceeds Gimv’s long-term average. No further financial details will be disclosed.

Read the full press release:

English – French – Dutch
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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Capsule Technologies To Be Acquired by Philips

Franciso Partners

Press Release – January 19 2021

Francisco Partners, a leading global investment firm that specializes in partnering with technology and healthcare businesses, announced today the pending sale of Capsule Technologies, Inc. (“Capsule”) to Royal Philips (“Philips”) for $635 million in cash consideration.

Francisco Partners’ investment in Capsule helped support the company’s growth and expansion across medical device integration, patient monitoring, and clinical surveillance solutions. Founded in 1997, the company has grown to serve over 2,800 hospitals and healthcare organizations in 40 countries, impacting over 20 million patients annually.

“It has been a pleasure to partner with Capsule’s management team to help grow this important business,” said Chris Adams, Partner at Francisco Partners. “Capsule is a key enabler of the digital hospital, and we have been especially proud of how impactful it has been in supporting global healthcare organizations with the challenges of COVID-19. The team has delivered exceptional growth through constant customer focus and high-quality service.”

Justin Chen, Principal at Francisco Partners, added, “We are thrilled to have helped the Capsule team build their business. They have been at the forefront of delivering mission critical and innovative healthcare solutions to liberate medical data and improve patient safety. The company is in a tremendous position, and we wish the team continued success as a part of Philips.”

Hemant Goel, CEO of Capsule, said, “Francisco Partners has been a supportive strategic partner over the past few years. Their team has been invaluable, executing on the carveout, providing thought leadership, and investing into the business to help us grow rapidly and build an enduring and strategic position. We are very proud of what the entire Capsule organization and employees have been able to accomplish together. We are excited to join Philips and continue our mission of empowering clinicians with simplified workflows and timely, actionable insights.”

Philips and Capsule are long-term partners jointly offering solutions to healthcare organizations globally. The companies share similar values and ambition to improve patient outcomes. The pending acquisition by Philips will allow both companies to enhance the value they provide to their customers and patients. The transaction is subject to certain closing conditions, including regulatory clearances in relevant jurisdictions outside of the U.S., and is expected to be completed in the first quarter of 2021. The company with its leadership team and approximately 300 employees will become part of Philips’ Connected Care segment.

Barclays served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Capsule Technologies.

About Capsule Technologies

Capsule Technologies is a leading global provider of medical data technologies for hospitals and healthcare organizations. Our Medical Device Information Platform — comprised of device integration, vital signs monitoring, and clinical surveillance solutions — captures streaming clinical data from connected systems and transforms it into context-rich information for clinical documentation, alarm management, patient surveillance, decision support, predictive analytics, clinical research and more. End-to-end data management and connectivity supports better collaboration and communication between clinicians and departments. More than 2,800 global clients leverage our platform to improve patient safety, simplify workflows and raise overall satisfaction throughout the hospital and across care settings. Learn more at www.capsuletech.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch more than 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 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 on Francisco Partners, please visit www.franciscopartners.com.

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