Oakley Capital agrees sale of Contabo and follow-on investment

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Oakley Capital Fund IV (“Fund IV”) has reached an agreement to sell its stake in Contabo, a leading cloud hosting platform offering easy-to-use and cost-effective cloud services used by SMEs, entrepreneurs and developers. The exit will generate a gross return in excess of 10x MM and over 100% IRR to Fund IV. As part of the transaction, Oakley Capital Fund V (“Fund V”) will acquire a minority stake in Contabo alongside majority investor KKR, to benefit from the anticipated future growth of the business.

Fund IV first invested in Contabo in 2019 alongside proven hosting entrepreneurs Thomas Strohe, Jochen Berger and Thomas Vollrath who introduced the opportunity to Oakley. Under Oakley’s ownership, Contabo has generated strong revenue and EBITDA growth to become a leading SME cloud hosting provider with 24 lean and highly efficient data centres across four continents serving a diversified mix of more than 250,000 customers. In 2020, Czech hosting business VSHosting was acquired to expand Contabo’s international footprint, followed by GPORTAL in 2021, a rapidly growing ‘platform-as-a-service’ provider in the gaming space.

The strategic partnership with KKR and fresh investment from Oakley will support the next stage of Contabo’s growth plan including acquisitions, and enable Contabo to continue its successful growth journey to become a global leader in SME cloud hosting. The company is well positioned in a market that has shown very strong and resilient growth in recent years, driven by structural trends and market dynamics, including increasing data traffic, the ongoing digitisation of small businesses as well as the increasing use of cloud applications.

Arma Partners and DH Capital acted as financial advisors to Contabo, and Kirkland & Ellis International LLP acted as legal advisor to Contabo in connection with this transaction.

Contabo CEO, Thomas Noglik, commented:

“When we first invested in Contabo three years ago, the business was very much a relatively unknown, subscale player in the domestic German web-hosting market. In partnership with Oakley, we leveraged our combined experience in cloud hosting and our track record in successfully professionalising businesses to transform Contabo into the market-leader it is today. We’re pleased to be continuing our collaboration with Oakley and now with KKR’s support and sector expertise as we proceed with the next stage of the company’s growth plan.”

Jean-Pierre Saad, Partner and Head of Technology for Private Equity in EMEA and Laura Schröder, Director at KKR, commented:

“The demand for cloud infrastructure and hosting services has accelerated considerably over recent years, and is set to further increase due to the ongoing digitalization of small businesses and secular growth of the developer community. With its differentiated positioning in the market based on price-performance leadership and strong customer satisfaction, Contabo benefits from these market trends. We are excited by the opportunity to work with the management team and Oakley to unlock the significant potential in Contabo, drawing on our extensive expertise from investing in the cloud and hosting industry globally.”

Oakley Capital Managing Partner, Peter Dubens, commented:

“For over a decade, Oakley has built significant expertise investing in the attractive web-hosting sector. We are pleased to sustain our strong track record with Contabo, and look forward to continuing our partnership with management to deliver on our ambition for the company. We also welcome KKR as co-investors with their deep experience in technology investing and the DACH region.”

Oakley Capital

When we first invested in Contabo three years ago, the business was very much a relatively unknown, subscale player in the domestic German web-hosting market. In partnership with Oakley, we leveraged our combined experience in cloud hosting and our track record in successfully professionalising businesses to transform Contabo into the market-leader it is today.
Thomas Noglik
CEO of Contabo

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KKR to acquire majority stake in global cloud infrastructure and hosting provider Contabo

KKR
  • KKR has agreed to acquire a majority stake in the leading cloud infrastructure and hosting provider for small-sized enterprises (SMEs), developers and tech-savvy prosumers
  • Contabo operates in a market that is characterized by strong and resilient growth benefiting from structural trends of SME digitalization, migration to cloud based infrastructure and increasing popularity of community-based gaming
  • Strategic partnership with KKR will support Contabo in its next phase of international expansion

Frankfurt, Germany, 8 June 2022 – KKR, a leading global investment firm, announced today that KKR has agreed to acquire a majority stake in Contabo, a global cloud infrastructure and hosting provider based in Germany. As part of the transaction, existing investor Oakley Capital will retain a minority stake in the business, alongside management and hosting entrepreneurs Thomas Strohe, Jochen Berger and Thomas Vollrath.

Contabo is a fast-growing cloud infrastructure and hosting provider, offering SMEs, developers, prosumers, and gamers simple, easy-to-use cloud services with a best-in-class price-performance proposition. With a global network of 23 data centres in Europe, the US and Asia, Contabo is serving a diversified mix of more than 250,000 customers in different industries across approximately 150 countries.

The strategic partnership with KKR will help enable Contabo to further invest in its infrastructure and pursue its organic growth ambitions by expanding its product and technology portfolio as well as the company’s international footprint. The company is excellently positioned in a market that has shown strong and resilient growth in recent years, driven by structural trends and market dynamics, including SME digitalization, migration to cloud based infrastructure and increasing popularity of community-based gaming.

Thomas Noglik, CEO of Contabo, said: “I am delighted to enter this strategic partnership, which will allow us to unlock the next phase of Contabo’s global ambitions. With our platform, we want to provide developers, prosumers and small businesses around the world access to simple, user-friendly and cost-effective cloud infrastructure and hosting services and we strongly believe that with KKR we have found the ideal partner with the right expertise to support us in our next phase of growth.”

Jean-Pierre Saad, Partner and Head of Technology for Private Equity in EMEA and Laura Schröder, Director at KKR, commented: “The demand for reliable cloud infrastructure services offered at leading price-performance ratios has considerably accelerated over the recent years, and is set to continue to increase in the foreseeable future. With its differentiated value proposition in this market and its strong customer satisfaction, Contabo is well positioned to benefit from those market trends. We are excited by the opportunity to work with Thomas, the rest of the management team and Oakley Capital to further realize the full potential of Contabo,drawing on our experience from investing in the cloud infrastructure and hosting markets globally.”

Peter Dubens, Managing Partner at Oakley Capital, added: “After almost three years working closely with Contabo, we are excited to continue this partnership and welcome KKR as co-investor who will lend their deep technology investing experience and a track record of successfully helping European businesses scale internationally.”

KKR is one of the most active investors focused on building leading global technology enterprises, with global tech investments including Körber Supply Chain Software, Cegid, Exact Software, Darktrace, Onestream and Box among others. The investment in Contabo builds on KKR’s experience investing in the cloud infrastructure industry globally, with investments including OVHcloud, Cloudera, Ensono and GoDaddy, among others.

KKR will invest in Contabo through its European Private Equity Strategy.

 

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 and on Twitter @KKR_Co.

Media Contacts KKR

Germany

Finsbury Glover Hering
Thea Bichmann
Mobile: +49 172 13 99 761
Email: kkr_germany@fgh.com

Emily Lagemann
Mobile: +49 160 992 713 35
Email: kkr_germany@fgh.com

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Paddle raises $200m to supercharge SaaS companies’ global growth

KKR
  • The investment, at a valuation of $1.4bn, follows a period of rapid growth for the payments infrastructure company
  • The round is led by KKR with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, with additional financing from Silicon Valley Bank 
  • Founded in the UK, Paddle will use the investment to accelerate its global expansion amid rapidly growing demand from scaling Software-as-a-Service (SaaS) companies

London, Tuesday 10th May: Paddle, the provider of a complete payments infrastructure for SaaS companies, today announces it has raised $200m in Series D equity and debt financing at a valuation of $1.4bn, making it the UK’s latest unicorn. Led by KKR, a leading global investment firm, with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, and debt financing from Silicon Valley Bank, the investment brings the total Paddle has raised to date to $293m.

Paddle will use this investment to strengthen the growth of its platform and to meet the market opportunity that exists for a complete payment infrastructure provider for software companies globally, which will assist in enabling them to scale and sell their products faster, with less risk and lower costs.

SaaS companies are experiencing a period of sustained growth, a trend that was accelerated by the surge in digital transformation during the Covid-19 pandemic and is set to continue as businesses and consumers become ever more used to using digital tools like Zoom to communicate, Miro to collaborate, or Canva to create. The SaaS sector, which was worth $397 billion in 2021, is expected to grow to $692 billion in 2025.*

SaaS companies now have an incredible opportunity to compete and sell their products in any market in the world, but to do so they must also manage payments and operations across multiple geographies and navigate an increasingly complex web of local and international tax and data regulations.

By integrating checkout, payment, subscription management, invoicing, international taxes and financial compliance processes, Paddle offers SaaS companies a completely different approach to payments infrastructure. Instead of assembling and maintaining a complex stack of payments-related apps and services, Paddle acts as a merchant of record for its customers. This enables sellers to activate new business models and enter new markets faster, more easily and with fewer operational and compliance issues.

Paddle’s complete payments infrastructure is used by over 3,000 software companies in more than 200 markets worldwide. With a suite of new platform features and integrations – including the announcement of an alternative In-App Purchasing (IAP) system for iOS developers – as well as rapid international expansion, Paddle has more than doubled its revenue growth since November 2020, contributing to an impressive average annual revenue growth of over 175% over the last four years. It has also scaled its team from 140 to 275 across offices in London and New York, with more hires expected to match its acceleration as a business.

Christian Owens, CEO and co-founder of Paddle, said: “The opportunity in software is enormous, with tens of thousands of incredibly innovative businesses bringing great products to market every year. Unfortunately, many SaaS companies still find their growth hindered by the operational challenges that arise when scaling; from handling subscriptions management or tax compliance to localizing payment options in every market. Paddle was created to remove these invisible barriers so that SaaS companies can just focus on building and selling software. 2021 was a fantastic year for us, but we are only just getting started. We have big plans for 2022 and beyond and we’re delighted to have the backing of so many fantastic investors who all share our vision.”

Patrick Devine, Director at KKR, added: “Paddle is solving a significant pain point for thousands of SaaS companies by reducing the friction and costs associated with managing payments infrastructure and tax compliance. By simplifying the payments stack, Paddle enables faster, more sustainable growth for SaaS businesses. Christian and the team have done a phenomenal job building a category-defining business in this space, and we are excited to be supporting them as they embark on the next phase of growth.”

KKR’s investment was made through its growth equity fund, Next Generation Technology Growth Fund II.

About Paddle:
Paddle helps SaaS companies grow faster with fewer distractions. Instead of wasting time, money, and resources assembling, maintaining, securing, and constantly updating a ‘best of breed’ payments stack, Paddle does it all.

Because Paddle is a SaaS merchant of record, it takes away 100% of the payments complexity—handling all payment routing, tax collection, compliance, invoicing, subscription management, renewals, reporting, and fraud protection.

Paddle has 275 employees serving over 3,000 software sellers in 245 countries and territories globally. Backed by investors including KKR, FTV Capital, Kindred, Notion, and 83North, Paddle aims to define the next wave of B2B SaaS leaders. Visit www.paddle.com or www.twitter.com/PaddleHQ for more information.

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 and on Twitter @KKR_Co.

Press contact:

Paddle
Ed Jones-Davies / Cameron Morrissey
Outcast
paddle@thisisoutcast.com

KKR
Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
+44 20 7251 3801
KKR_LON@finsbury.com

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CapMan Growth to accelerate growth of multi-cloud company Cloud2

Capman

CapMan Growth Press Release
May 2nd 2022 at 9:30 AM EEST

CapMan Growth to accelerate growth of multi-cloud company Cloud2

CapMan Growth invests in and becomes minority owner of multi-cloud service provider Cloud2, a company focused on developing and managing cloud environments. The ongoing cloud transformation trend has accelerated the growth of Helsinki-based Cloud2, which holds unique competencies in Amazon AWS, Microsoft Azure and Google Cloud, cloud environments.

Multi-cloud expertise has spearheaded Cloud2’s offering since the beginning. Most larger companies today use a minimum of two public clouds.  CapMan Growth banks on the growth of the public cloud market and Cloud2’s broad expertise.

“Cloud2 has a one-of-a-kind multi-cloud offering. Early on, the company understood the needs and benefits of cloud transformation and has built exceptional consulting, service, and technology competence in Finland. The company has very strong partnerships with all the biggest players: Amazon, Google and Microsoft. We are excited to support the growth of the leading multi-cloud house in Finland and support them on their growth journey,” comments Heikki Juntti, Partner at CapMan Growth.

All the owners of Cloud2, founded in 2017, remain with the company and all stay on as owners.

“It is fantastic to have a player such as CapMan Growth join to support and speed up the growth journey of Cloud2 and our clients. Since the beginning, our dream has been to help our clients access the cloud and to better succeed there. At the same time, we are building the most satisfied IT-clients in Finland by taking care of our employees. Now we can continue building this dream as an independent player, but with an even stronger base,” shares Henri Grönlund, CEO and one of the founders at Cloud2.

Top-talent and an exceptional culture form the biggest strengths at Cloud2

Since its foundation, Cloud2 has built a strong company culture, which is visible in both employee well-being and customer satisfaction.

“Cloud2’s unique culture is visible in everything the company does throughout the organisation. The best cloud architects have joined each other at Cloud2 and formed a tight and competent community with a strong team spirit. The company’s CEO Henri Grönlund on the other hand was selected as CEO of the year by the Helsinki Region Chamber of Commerce in 2020. We want to play our part in making sure that Cloud2 is the best place to work for cloud specialists in Finland also in the future,” continues Juntti.

Targeting versatile growth

Cloud2 employs around 60 people and has about 100 clients. The company’s goal is to double both figures during the next 1-2 years. The estimated turnover for this year lies at 11–12 million euros.

In addition to its service business Cloud2 recently published a software tool meant for managing cloud environments called Spotter. The tool aims to solve the multifaceted challenges companies face as cloud environment usage grows.

For more information:

Heikki Juntti, Partner, CapMan Growth, +358 40 556 8899, heikki.juntti@capman.com

Henri Grönlund, CEO, Cloud2, +358 40 733 0163, henri.gronlund@cloud2.fi

Cloud2 is a Helsinki-based cloud company that challenges traditional public cloud players with a straightforward and rebel approach. At the core of the company’s operations lie a strong culture built on investing in its personnel and culture, and a broad hybrid and multi-cloud knowledge. The company works equally with AWS, Azure and Google. Its services include designing cloud services, their management, maintenance, and development.

CapMan Growth is a leading Nordic growth investor making significant minority investments in companies targeting strong growth and internationalisation. CapMan Growth is part of CapMan, a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over to €4.7 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Read more at www.capman.com.

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Genies Raises $150 Million Series C Led By Silver Lake At A $1 Billion Valuation To Build Avatar Ecosystem Tools For Web3

Silverlake

The Company Will Continue to Roll Out Mass “Avatar Creator Tools” Empowering Anyone to Create Their Own Avatars, Avatar Fashion Collections, Avatar Homes & Experiences

Genies, the avatar technology company shaping the leading edge of Web3 culture by empowering individuals to create their own avatar ecosystems, today announced it has raised a $150 million Series C round led by Silver Lake, a global leader in technology investing. The investment values the company at $1 billion and includes participation from existing investors BOND, NEA, and Tamarack Global.

“We believe avatar ecosystems are going to shape Web3 the same way that mobile apps defined Web2,” said Akash Nigam, CEO of Genies. “With every advancement of the internet, an expansive new region of entrepreneurial skill sets is born. In Web3, Gen Z avatar ecosystem builders are going to be the leaders of innovation and, through our creator tools, we strive to empower their wildest imaginations, ideas, and experiences as avatar creations.”

Since its last funding round in May 2021, Genies, which has a 99% celebrity avatar market share, continued to build on its leadership position by partnering with Universal Music Group and Warner Music Group to serve as each company’s “official avatar and digital goods NFT provider.”

Genies also started to roll out its mass consumer “avatar creator tools” to small groups via a private [invitation-only] beta, allowing users at every level of technical ability to create their own Web3-native avatars and avatar fashion collections, and eventually, avatar homes and social experiences. As a core pillar of Genies’ vision, creators have full ownership and commercialization rights of their Genie avatar creations and can utilize them in any way they choose – ranging from creating a show or movie or starting a new brand– unlocking entirely novel forms of creativity, expression and monetization.

Genies recently launched The Warehouse, an avatar ecosystem NFT marketplace enabling creators to buy, sell, and trade these avatar ecosystem creations. All creations are minted on Dapper Labs’ blockchain network, Flow. To become a Genies avatar fashion seller, or to design and sell your own avatar species, apply here.

“Genies has established its leadership in Web3 with remarkable speed and focus, fueled by a long term vision and clarity of purpose that we have been watching closely and greatly admire,” said Egon Durban, Co-CEO of Silver Lake. “We’re excited to partner with and support Akash, his co-founders Evan and Jake, and the entire Genies team as they make it possible for people to build the avatar ecosystems that we believe will drive the next evolution of human expression, communication and creativity.”

“It takes a very special team to operate and build at the intersection of culture, digital assets, and identity,” said Jamie Lee and John McCormick, Tamarack Global. “From its position as the forefront of creativity and commerce, Genies is creating endless opportunities for self-expression.”

“I’ve had the pleasure of seeing the Genies team pioneer the avatar space since 2016,” said Rick Yang, General Partner and head of consumer investing at NEA. “They uniquely understand what consumers and builders truly want and are enabling the ultimate avatar ecosystem for all.”

The new injection of capital will be used for continuous hiring across engineering and to further invest in the core technology of Genies’ avatar universe.

For more information, please visit https://genies.com/.

ABOUT GENIES, INC.  

Genies is culture’s leading avatar technology company empowering humans to create their own avatar ecosystems. Genies provides tools (Genies Avatar Creator OS) that allows users to create their own avatars, avatar wearable fashion lines, avatar worlds, and avatar interactive experiences in web3. The company has 99% celebrity avatar market share through its partnerships with Universal Music Group and Warner Music Group as their “official avatar and digital goods NFT provider” with thousands of Genie creators including Justin Bieber, Migos, Cardi B, and J Balvin. Bringing the power of NFTs and crypto to culture, Genies’ avatar ecosystem NFT marketplace “The Warehouse” built with Dapper Labs, allows talent, IP, and creators to design and sell their avatar ecosystem creations (i.e. avatar fashion lines) to the masses. Prior to this announcement, Genies has raised $100M from investors such as BOND, NEA, Breyer Capital, Tull Investment Group, and more.

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Blackstone Invests in Mitiga’s Cloud Incident Readiness and Response Solution

Atlantic Bridge

Blackstone Invests in Mitiga's Cloud Incident Readiness and Response Solution

NEW YORKDec. 21, 2021 /PRNewswire/ — Mitiga, the cloud incident response company, today announced that Blackstone Innovations Investments has participated in Mitiga’s Series A financing round, joining ClearSky, Atlantic Bridge and DNX.

Organizations worldwide rely on Mitiga’s solution to reduce the impact of cloud attacks by optimizing their incident readiness and resilience. Today’s harsh reality is that cloud attacks are inevitable. Mitiga’s focus on readiness and resilience enables companies to dramatically increase their response and recovery capabilities when cloud incidents occur.

“Although traditional incident response solutions focus on what happens after a breach, Mitiga’s unique solution combines incident readiness and response, helping companies prepare for a breach before it happens,” said Adam Fletcher, Chief Security Officer at Blackstone. “As an investor and a customer, we know how important it is to be prepared before an incident occurs, especially in cloud infrastructure. We look forward to a successful partnership and to the company’s next phase of growth.”

“Blackstone believes that Mitiga’s solution is truly differentiated in the marketplace and is the first company to build a cloud-centric incident response platform,” said Tal Mozes, Mitiga Chief Executive Officer. “Adam Fletcher has become a trusted partner, and his experience and insights are helping to shape Mitiga’s solutions for tomorrow’s challenges.”

In adopting Mitiga’s dynamic-readiness approach companies can automate the processes of collecting and analyzing cloud forensics data, eliminating time-consuming data acquisition delays before beginning the incident investigation, response, and recovery.

Importantly, Mitiga’s shared-responsibility business model fundamentally changes the economics of incident response. Instead of charging additional fees for incident response and recovery, Mitiga believes its platform-based solution fully prepares customers for all aspects of a cloud incident and therefore their subscribers face no add-on fees for incident response.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Mitiga
Mitiga’s technology and services lower the impact of cyber breaches and optimize readiness for cloud and hybrid incidents and accelerate both response and recovery times when incidents occur. Importantly, Mitiga’s readiness prioritization also increases resiliency for future incidents. Mitiga’s shared-responsibility model is unique. Unlike others, who charge additional fees for incident response and recovery, Mitiga subscribers face no add-on fees. For more information, visit www.mitiga.io.

“Our patented see-through display technology is the key enabler for augmented reality devices such as smart-glasses where weight, display quality and form factor are key attributes. These can be best realized by feather-weight single-layer optics which is our unique forte and we are now gearing to scale these capabilities for mass production for our customers forthcoming consumer offerings” said Antti Sunnari, co-founder and CEO of Dispelix.  “This new investment will allow us to serve more OEM customers better and faster, as their trusted and dedicated waveguide partner.”

“Dispelix’ see-through displays are the lightest and thinnest on the market and maintain vivid colors, image quality and wide field-of-view” commented Juuso Olkkonen, CTO and co-founder of the company.  “Our team of world-class scientists and engineers continue to push the boundaries of what’s possible with our arsenal of unique software and hardware technologies – fundamentally changing the way nanophotonics based waveguides are designed and delivered.

“We invested in Dispelix as they have a unique mix of technologies that delivers a superior end-user experience for mixed reality smart-glasses and other AR devices – offering the lightest, lowest power and highest resolution displays” said Paul Murray, Partner with Atlantic Bridge. “Their ability to scale these benefits for their growing list of OEMs will be a key enabler in the adoption of next generation mixed reality platforms and to help deliver on the promise of the Metaverse”

The Dispelix offerings, with 43 granted or pending patent families currently being integrated into an increasing number of consumer products under development by the company’s OEM customers – these products are expected to hit the market during 2023.

 

About Dispelix

Dispelix is a global leader in waveguide  design technology.  Dispelix designs and manufactures the best diffractive single layer, full color waveguide displays in the world.  Its patented DPX waveguides unlock freedoms in AR design with unmatched image quality, performance and efficiency. Led by the world’s most sought-after experts in optics, photonics and manufacturing, Dispelix powers AR experiences that push boundaries. Dispelix is located in Finland, China, Taiwan with US headquarters in San Francisco.  Learn more at www.dispelix.com

 

About Atlantic Bridge

Atlantic Bridge is a global technology investment firm with over €1.2 billion of assets under management across seven funds, investing in deep tech companies in Europe and the U.S. Atlantic Bridge supports portfolio companies in scaling internationally with a global investment team and offices across London, Palo Alto, Dublin, Munich and Paris. For more information, visit http://www.abven.com

 

About CCB Trust

China Construction Bank Corporation, headquartered in Beijing, is a leading large-scale commercial bank in China. Its predecessor, China Construction Bank, was established in October 1954. It was listed on the Hong Kong Stock Exchange in 2005 and the Shanghai Stock Exchange in 2007. At the end of 2020, the Bank’s market capitalization reached US$191,889 million, ranking fourth among all listed banks in the world. For more information, visit ccb.com

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Matillion Raises $150M Series E Funding at $1.5B Valuation

General Atlantic

Latest funding follows accelerated growth as Matillion platform fuels cloud analytics, AI and machine learning in large global enterprises

Matillion, a leading cloud data integration platform, today announced $150M in Series E funding, led by General Atlantic, a leading global growth equity firm, with participation from Battery Ventures, Sapphire Ventures, Scale Venture Partners, and Lightspeed Venture Partners. This funding marks Matillion’s second triple-digit round of 2021, bringing the total amount raised to $310M at a valuation of $1.5B.

The average enterprise uses more than 1,080 different data sources in its analytics program. Even as cloud data platforms such as Snowflake, Amazon Redshift, and Databricks become central to modern data architectures, enterprises struggle to collect, synchronize and transform their data for analytics, AI and ML programs. Traditional and other methods are primitive and slow, relying heavily on hand-coding and placing the burden of enterprise data preparation on a few workers. This creates information gaps within the organization and limits critical insights. Matillion unlocks the data supply chain, accelerating time to value by delivering a data operating system that integrates and manages data at scale. This allows enterprise data teams to work together to source, enrich and share data, enabling the rapid and data-led decision-making required to compete and win in today’s digital economy.

“Enterprises need to effectively close information gaps by rapidly transforming operational data into analytics-ready datasets that fuel business intelligence, AI, and ML innovation,” said Matthew Scullion, CEO of Matillion. “With Matillion, large organizations are empowered with a data operating system that is purpose-built for the enterprise, enabling a broad spectrum of data users — from data scientists and engineers to marketers and business analysts — to make data useful.”

Coming off of its Series D round in February, Matillion has delivered accelerated growth in 2021, including recognition by Snowflake as its FY2021 Technology Partner of the Year for Data Integration and by Databricks for an ISV Innovation Award, as well as the launch of its new product, Matillion ETL for Delta Lake on Databricks. The company also earned the Great Place to Work Certification, with 94% of its UK employees and 91% of its U.S. employees stating that Matillion is a great place to work.

As organizations look for ways to harness data to make better business decisions, the market for cloud data integration and transformation is expanding,” said Chris Caulkin, Managing Director and Head of Technology for EMEA at General Atlantic. “We believe that Matillion’s low-code ETL platform simplifies the process of constructing data pipelines and preparing data for analysis, enabling citizen data scientists and data engineers alike to play a valuable role in extracting data-based insights. We look forward to supporting the team through its next phase of growth and expansion.”

Hundreds of large enterprises including Western Union, FOX, Sony, Slack, National Grid, Peet’s Coffee and Cisco use Matillion’s cloud-native, low-code/no-code solutions to transform raw data into an analytics-ready asset, ready to power business intelligence, visualization, artificial intelligence, and machine learning projects.

“Global data teams are being tasked to support digital transformation journeys within their organizations and look to low-code, cloud native solutions to accelerate the delivery of business results,” said Frederick Wright, US Director, UK Senior Manager, Enterprise Architect – Integration & Analytics at National Grid. “Matillion enables enterprises like ours to increase our usage of analytics and drive greater understanding within our business.”

For further data transformation industry updates and perspectives, follow Matillion on Twitter @Matillion and LinkedIn at https://www.linkedin.com/company/matillion-limited/. Learn more about the success Matillion customers have achieved at https://www.matillion.com/resources/case-studies/.

About Matillion

Matillion makes the world’s data useful with an easy-to-use cloud-native data integration and transformation platform. Optimized for modern enterprise data teams, only Matillion is built on native integrations to cloud data platforms such as Snowflake, Delta Lake on Databricks, Amazon Redshift, Google BigQuery, and Microsoft Azure Synapse to enable new levels of efficiency and productivity across any organization. Learn how Matillion delivers rapid returns on cloud investments for global enterprise customers at www.matillion.com.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm 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 scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management as of March 31, 2021 and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

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

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TX Group, Ringier, La Mobilière and General Atlantic form joint venture to create leading digital marketplace group

General Atlantic

The merger of TX Markets and Scout24 Schweiz’s online marketplaces will form a leading Swiss group spanning the real estate, vehicle, financial services and general marketplace sectors. The joint venture will create one of the largest digital companies in Switzerland. All involved parties will hold minority interests in the joint venture. The independent group will pursue the medium-term goal of going public.

The TX Group will bring the TX Markets platforms Ricardo, tutti.ch, Homegate and Car For You to the new joint venture. Ringier and La Mobilière will provide the Scout24 Schweiz Group, which operates the platforms ImmoScout24, AutoScout24, MotoScout24, FinanceScout24 and anibis.ch. General Atlantic, a leading global growth equity investor, will serve as the fourth partner in the venture, supporting the group with its many years of international expertise in the field of digital marketplaces.

Lothar Lanz will serve as Chairman of the Board of Directors of the new, independent company. The experienced finance and digital expert is currently Chairman of the Supervisory Board of Home24 SE, Deputy Chairman of the Supervisory Board of TAG Immobilien AG and a member of the Supervisory Board of Dermapharm SE. He has also served on the Supervisory Boards of Zalando SE (Chairman) and Axel Springer SE. Previously, he was the long-time Finance Director of ProSiebenSat 1 Media.

Joern Nikolay, Olivier Rihs, Michèle Rodoni, Pietro Supino and Marc Walder will join the Board of Directors of the new joint venture.

Gilles Despas, currently CEO of the Scout24 Schweiz Group, will serve as CEO of the new joint venture. Despas was previously Chief Digital Officer and Group Chief Marketing Officer of Thomas Cook in London, and formerly served as Managing Director and CEO of Ebookers and HolidayCheck.

TX Group, Ringier and La Mobilière’s respective marketplaces have all posted strong growth in users and services offered in recent years. The platforms operate in an extremely demanding environment. Rising customer requirements and intensified international competition – from global platforms to fast-growing, disruptive start-ups – have created increasingly dynamic market conditions.

Joining forces to create one of the largest digital companies in Switzerland will enable the new joint venture to create a competitive marketplace service and operate as a pioneering leader in the Swiss market.

The new joint venture will also combine the expertise of the existing teams and digital talent to drive the development of innovative digital products and services. This, in turn, will enable the company to better meet user and customer needs. The joint venture will also make a substantial contribution to further digitalisation in Switzerland.

Pietro Supino, Chairman and Publisher of the TX Group: “Our partnership with General Atlantic, La Mobilière and Ringier is the result of a long process. It represents a major step for all participants and demonstrates Switzerland’s positive digital outlook amongst increasing international competition. We strongly believe that this merger will strengthen our successful marketplace platforms and ensure further growth. Increasing our relevance to our users is key, and we believe the merger will immediately improve efficiency for our business customers. Together, we will also be able to expand investment in product development and increase our appeal as an employer.”

Marc Walder, CEO of Ringier: “Ringier, TX Group and La Mobilière have succeeded in merging their leading real estate, vehicle, finance and classifieds platforms. General Atlantic brings complementary qualities as a globally recognised, successful investor in the field of digital marketplaces. The result is a uniquely positioned company in Switzerland. With this group, we will significantly expand our customer focus across all business areas. We will meet our customers’ requirements even more effectively through targeted investment in innovative products and services. This shared vision is the driving force of all the shareholders.”

Michèle Rodoni, CEO of La Mobilière: “As the leading Swiss insurer, we seek solutions that enable us to strike the right long-term balance between the fast-paced world of digital services and our long-standing, successful presence with our local independent general agencies. Through our investment in Scout24 Schweiz five years ago, we gained important knowledge in developing and expanding our products and services for the residential sector and SMEs. So for us, it is logical that we are a part of this now and in future, as one of the leading digital Swiss marketplaces is created.”

Joern Nikolay, Managing Director and head of German operations for General Atlantic: “We are very proud to help shape one of the leading digital companies in Switzerland alongside our new partners. As a global growth equity investor, we bring our many years of expertise in the strategic development of digital business models to the partnership, particularly in the online classified space. We are pleased to be part of this endeavour as we work towards driving its continued, long-term growth.”

TX Group AG will hold a 31% interest in the new joint venture; Ringier AG and La Mobilière will each hold a 29.5% share, and growth equity investor General Atlantic will have a 10% interest. The four shareholders will each have 25% of voting rights.

About TX Group

TX Group forms a network of digital platforms that offer users information, orientation, entertainment and services for everyday needs. Four independent companies operate under the umbrella of TX Group: TX Markets comprises the digital classified platforms and marketplaces in Switzerland; Goldbach handles advertising marketing in Switzerland, Germany and Austria; 20 Minuten is the company for commuter media in Switzerland and abroad; Tamedia leads the paid daily and weekly newspapers and magazines into the future.

About Ringier

Ringier AG is an innovative, digitalised and diversified Swiss media company operating in Europe, Asia and Africa. Its portfolio includes over 110 subsidiaries in the print, digital media, radio, ticketing, entertainment and e-commerce sectors and leading online marketplaces for cars, property and jobs. As a venture capital provider, Ringier supports innovative digital start-ups. Ringier, a family company, founded in 1833 as a publishing house and printing press, has invested consistently in the Group’s digitalisation and global expansion in recent years. In 2020, the company’s approximately 6,800 employees, operating in 18 different countries, generated revenues of CHF 953.7 million. Today, more than 69% of its operating profit already comes from digital, where Ringier is a leader among European media companies. Ringier represents independence, freedom of expression and a pioneering spirit.

About La Mobilière

Every third household and every third company in Switzerland is insured with La Mobilière. As of 31 December 2020, the all-lines insurer had a premium volume of approximately CHF 4.1 billion. Eighty independent general agencies with their own claims services provide cover to some 2.2 million customers at about 160 locations.
In its home markets of Switzerland and Liechtenstein, La Mobilière has about 5,900 employees and 338 apprenticeships. Established as a cooperative in 1826, La Mobilière is the oldest private insurance company in Switzerland. The Board of Directors of Schweizerische Mobiliar Genossenschaft ensure that the cooperative orientation of the group is maintained.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm 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 scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management as of March 31, 2021 and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Susanne Jahrreiss & Ralf Geissler
General Atlantic +49 89 309052950 mail@perfect-game.de

Ursula Nötzli
TX Group AG +41 76 462 52 45 ursula.noetzli@tx.group

Johanna Walser
Ringier AG +41 44 259 61 23 johanna.walser@ringier.ch

Alice Chalupny
La Mobilière +41 31 389 88 44 alice.chalupny@mobiliar.ch

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Managed cloud services group continues growth: Waterland portfolio company Skaylink partners with BTT Cloud

Waterland

With support from Waterland Private Equity (“Waterland”), the cloud service provider Skaylink continues its growth. BTT Cloud, a leading provider of modern cloud infrastructure services, has partnered with the fast-growing Skaylink. The sellers of the majority share in BTT Cloud is its founder and managing director, who will remain with the company in his current position and will reinvest in Skaylink as well. Further financial details of the transaction were not disclosed.

BTT Cloud, based in Vilnius, Lithuania, is one of the leading European providers of modern cloud infrastructure services. The company supports customers throughout Europe during the implementation, operation and maintenance of private and public cloud environments. Due to continuously developing its proprietary solutions, BTT offers a broadly diversified range of services in the field of semi-automated cloud operation. Particularly in the area of Managed AWS (Amazon Web Services), BTT is one of the fastest-growing specialists. In addition, the company has comprehensive expertise in the Microsoft Azure and Google Cloud platforms.

The partnership enables Skaylink to expand its service capacities in the area of management and migration of cloud infrastructures, opening up an additional, highly attractive market for attracting new talent and expertise. Due to BTT’s know-how in the area of Google Cloud, Skaylink will also be able to support its clients in all three leading public cloud environments, thereby completing its service offering. As a result of the partnership, Skaylink will be able to take the next step in its journey towards becoming the leading provider of managed cloud services for enterprise and SME client based in the German-speaking DACH region.

“There are only a few companies able to operate highly complex cloud infrastructures using a platform-agnostic approach, with Skaylink being one of them. That is why we are very happy to have them as a partner on the way towards becoming the leading managed cloud service provider in Europe”, says Donatas Zaveckas, Managing Director at BTT Cloud.

“In the European market for cloud services, BTT is strongly positioned with an experienced team, which both shares our entrepreneurial ideas and aims to embrace a clear ‘Service First’ culture. We are seeing a number of opportunities to leverage this new partnership to expand our joint customer base and greatly improve our service portfolio through expansions”, says Gerald Jenner, Member of the Executive Committee at Skaylink.

“The partnership with BTT Cloud ideally complements the Skaylink service portfolio in the field of Google Cloud, thereby accessing a new, highly attractive market for IT experts. The high-quality standards of BTT’s cloud engineers have convinced us from the very beginning that the company is the ideal strategic expansion for Skaylink”, says Dr. Gregor Hengst, Partner at Waterland.

In 2020, the private equity investment group acquired a majority share in Skaylink. Since, Waterland has supported Skaylink and its managed cloud services platform in their organic and inorganic growth ambitions. In July 2021, the acquisition of root360, a leading German provider of Managed AWS, formed another important aspect of the long-term buy-&-build strategy for Skaylink, which today employs a staff of more than 500 at locations in Germany, Romania, Brazil, with about 70 more now in Lithuania.

Waterland has extensive experience in the fields of digitalization and modern IT infrastructure through its investments in several European countries. In the German-speaking region, Waterland has already invested in companies such as netgo (IT provider), Serrala (payment software), Netrics (cloud and ICT services) and GOD (enterprise IT and software solutions) as well as in Enreach (unified communications solutions), amongst others.

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The world needs a new technology for the hybrid cloud

OpenOcean

Why we invested in Sunlight.io by Ekaterina Almasque

When I was an investor for EMC and then Samsung from 2014 to 2019, there was already a clear focus on resolving major bottlenecks in the cloud. Data center architectures traditionally rely on storage and network infrastructure with high unpredictable latencies and low performance. In general, these architectures are complex, slow, expensive and difficult to manage, and this cannot be easily resolved by continuing to disaggregate server resources using traditional virtualisation methods.

Since then, the world has evolved. Today, new workloads such as Artificial Intelligence (AI) and High-Performance Computing (HPC) are driving ever-accelerating growth in volumes of data, and overwhelmingly dominating cloud resource consumption. The HPC-as-a-Service market alone is projected to reach $10B by 2023, according to MarketsandMarkets — growth largely driven by Healthtech and Life Science applications, which we have seen the importance of in the current healthcare crisis.

Furthermore, trends like connected cars, autonomous driving, and Industry 4.0 will continue to push workloads like AI to the edge. One of the major challenges in deploying edge infrastructure is that it is not possible to take a “traditional cloud” technology stack and deploy it in an edge architecture; there are very different resource limitations, including processing power, form factor and bandwidth. At the ‘far edge’, for example, there are devices on the factory floor which need to work in harsh environmental conditions, in small enclosures and with low power. Existing approaches, some of which were developed even before the “cloud era”, are extremely inefficient or unusable in such circumstances.

Last but not least, for much of the last 15 years “cloud versus on-premise” has been a recurring theme. The discussion has now morphed into “data everywhere”, as we witness a tectonic shift to a hybrid cloud. Many traditional technologies were architected for the era of the single cloud and do not natively support hybrid, let alone edge, thus creating siloes. As a result, a one-size-fits-all enterprise strategy is not viable.

Hyperconverged infrastructure (HCI) was developed to bring simplicity and software control to the deployment of enterprise applications. However, many of the early players in that space were created before the advent of edge and hybrid requirements. Even though they are racing to adapt, it is often hard to change the underlying architecture. As per Gigaom’s newest report, choosing the right HCI infrastructure remains challenging. Although HCI is becoming good at managing more applications, there is still a balancing act today for supporting both capacity-driven and latency-sensitive workloads.

What if there were no need to sacrifice high capacity for low latency and vice versa, especially when data and computation are all in a hybrid cloud environment? This is where Sunlight.io comes into play. Sunlight’s low footprint, high-throughput HCI stack provides distributed storage with equal to bare-metal performance for large amounts of data, with all the benefits of virtualisation and hyperconvergence. It is based on a unique Hypervisor technology, which is disrupting decades of homogenous, one-size-fits-all storage and compute in the datacentre, and its breakthrough can be captured in one word: “Efficiency.”

This gives Sunlight a distinctive advantage in the emerging market of micro-datacentres, colocation and hybrid cloud. In addition, it is second to none when it comes to running workloads at the edge. Sunlight’s ability to optimise resource usage is also vital to software-as-a-service players’ profitability when facing soaring infrastructure costs as they try to minimise the ‘infrastructure costs as a percentage of revenues’ metric.

At its core, the real breakthrough of Sunlight is in efficient handling of Input/Output, the very core of the cloud bottleneck. With targeted support of NVMe storage in several layers of the stack, Sunlight can achieve more consistent performance overall. The approach was developed by Julian Chesterfield, a co-founder of Sunlight and one of the top global minds in virtualisation, having been previously an architect of Xen, the original foundation of the Amazon cloud (XenSource was acquired by Citrix). Julian was inspired in his collaboration work with ARM in a previous venture, where he researched ways to remove inefficiencies in performance of workloads running on ARM-based servers. Luckily for Sunlight, it looks like the world is now moving towards ARM (and other hardware accelerators such as GPUs), with both Apple and Amazon announcing their move to ARM processors.

A series of performance benchmarks have been conducted to compare the performance of MariaDB’s database (OpenOcean’s portfolio company) running on Sunlight in AWS vs natively on an AWS instance. The tests demonstrate that with 8 cores allocated to the instance, Sunlight can achieve ​65% higher performance at ​40%​ of the cost. Access latency is measured at ​68%​ lower than the standard AWS instances. The resulting IOPS (input/output operations per second) in Sunlight’s case are astonishing.

Although our first reaction when we met Sunlight was “why would we need another virtualisation player?”, we are now convinced that Sunlight is the platform enabler we were looking for to finally make a cloud strategy more viable for both data centres and enterprises. We already see benefits for Splunk and other analytics workloads and we look forward to seeing more customers enjoying the benefits of Sunlight, both for delivering highly performant services and maximising Return on Investment.

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