Tag Archives: Information technology

Hg agrees the sale of itm8 to Axcel

HG Capital

Together Hg and itm8 have more than doubled the size of the business, creating a leading SME technology provider in Europe.

Herning, Denmark and London, United Kingdom. 18 May 2022. Hg, a leading software and services investor, today announces that it has agreed the sale of itm8, a leading supplier of IT services for private businesses and the public sector in Europe, to Axcel, a Nordic private equity fund.

Today itm8 has a team of more than 1,100 IT experts, supporting more than 4,200 customers within four business-critical areas: Cloud Services, Digital Transformation, Application Services and Cyber Security.

itm8 (formerly IT Relation) has more than doubled in size since Hg first invested in 2018, as measured by revenues, employees and the size of its customer base.

Hg’s focus and expertise in the SME Technology Services sector in Europe has supported itm8’s growth by identifying and implementing several strategic initiatives. These include supporting the acquisition of 13 businesses to the group, all significantly adding to itm8’s customer offering, enabling itm8 to complete an end-to-end offering to serve larger customers more effectively.

“Hg have been a valued partner who, with their extensive knowledge within IT services, have contributed to the scaling and professionalisation of our fast-growing company. It has been a great pleasure to work with the whole team. We wish the team all the best for the future.”

Henrik Kastbjerg, CEO of itm8

“We wish the itm8 team well after what has been a truly effective and enjoyable partnership. For many years we had seen a clear opportunity to develop a high quality, single scale provider which could deliver a wide set of services to SMEs in the cloud. Henrik and his team had built an exceptional business to do this and there was a clear opportunity to scale. It’s been hugely satisfying to achieve this, and we are delighted that the business will continue to thrive with a new strategic partner.”

Nick Jordan, Partner at Hg

Hg’s investment in itm8 was consistent with Hg’s focus on SME Technology Services in Europe, with other activity in this sector including investments in Zitcom (2015), Register (2017) and team.blue (2019), all providers of online hosting services to SMEs.

The terms of the transaction have not been disclosed and completion is subject to customary closing conditions.

Hg media contact 
Tom.Eckersley@hgcapital.com
+44 208 148 5401

Azadeh Varzi (Brunswick)
hg@brunswickgroup.com
+44 207 404 5959

About itm8
itm8 is a leading Danish supplier of managed IT services for private businesses and the public sector. itm8 is represented at 19 locations in Denmark, Sweden, the Philippines and the Czech Republic. The group focuses on four business areas in Denmark; Cloud Services/IT Operations, Digital Transformation, Application Services and Cyber Security. Following its recent acquisitions, itm8’s annual revenue has grown to DKK 1.6bn and the group employs 1100+ people within the brands IT Relation, Progressive, Mentor IT, Sotea, Cloud Teams, Miracle42, Emineo, Copenhagen Software and Improsec. www.itm8.com

About Hg 
Hg is a platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has funds under management of over $40 billion, with an investment team of over 160 professionals, including a portfolio team of almost 50 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 45 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year.

Visit www.hgcapital.com for more information and sign up to the Hg Newsletter to stay up to date with Hg and portfolio news.

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JAVELO joins forceswith Sympa and Recruittee to lead the way in performance management

Isai

The acquisition of Javelo further strengthens PSG’s HR tech platform already constituted of Sympa and Recruitee. The platform offers leading products in the three key HR software pillars: Recruitment, Core HR and Performance Management

Javelo, a leader in the performance management and employee engagement space based in Paris, announces that it has received growth investment from PSG Equity (“PSG”). PSG is a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth and build scale across Europe and the U.S. Javelo will join forces with PSG-backed Sympa and Recruitee to deliver tools for HR leaders at the forefront of digitizing their teams.

Headquartered in Paris, Javelo, which was founded by Anne-Sophie Vasseur, David Guillermain, Guillaume Berthault and Gautier Machelon, has developed a robust performance management platform to help businesses develop a strong feedback culture. Javelo has since become an innovator in the European performance management space, offering a wide spectrum of tools from evaluation and appraisal to employee engagement, 360-degree feedback, objective tracking, and employee surveys. Today, Javelo has three offices and counts companies such as Transavia, Protectas, Domino’s Pizza, and Manpower among its customers.

Together, Javelo, Sympa, and Recruitee will aim to provide a portfolio of leading software tools for HR teams in small, medium-sized and larger businesses across strategic HR, people management, employee engagement, recruitment, and performance management. With over 6,000 customers collectively across Europe, the UK, and the U.S., and with over 400 employees, each business aspires to develop solutions for innovative HR leaders. Notable brands such as Red Bull Media House, Breitling, BMW, and TNT have engaged Javelo, Sympa, and Recruitee to help them to acquire high quality talent, safeguard employee data, and empower teams to make better strategic decisions.

Anne-Sophie Vasseur, CEO and co-founder of Javelo, commented: “Javelo joining forces with Sympa and Recruitee marks the beginning of an exciting chapter. We believe that PSG’s investment validates the potential of our platform and our team in the market. Additionally, it is our view that the collaboration with Sympa and Recruitee augments our existing geographic reach and product focus, and will allow us to continue delivering top results for our customers through cutting-edge HR tools.”

Edward Hughes, Managing Director of PSG, stated: “Congratulations to the team at Javelo for the product and team they have built. There continues to be tremendous opportunity in the HR software vertical, and we are excited to support Javelo, Sympa, and Recruitee on their journey.”

About Javelo

With offices in Paris, Marseille, and Barcelona, Javelo is a SaaS platform for HR performance management. Javelo supports innovative HR leaders in digitizing appraisal practices, which often make HR management unwieldy and do little to inspire people. The company provides a simple, intuitive platform that aims to help HR departments optimise the evaluation process and involve everyone in more collaborative management milestones that power performance and foster engagement. javelo.io

About Sympa

Headquartered in Finland, Sympa is one of the fast-growing HR vendors in Europe and a leader in the Nordics. With recognized brands such as BMW, Dustin, and Byggmax among its customers, Sympa’s digital solution aims to let HR leaders optimise every step of the employment journey through more streamlined HR processes, nurturing and development paths, and data-driven strategic decision-making. sympa.com

About Recruitee

Headquartered in Amsterdam, Recruitee is a cloud-based ATS solutions provider. The company’s digital software is built for teams to hire better, together. Their solutions cover job board integrations, talent sourcing, applicant tracking, pipeline automation, scheduling automation, and advanced hiring analytics. Since its inception in 2015, Recruitee has grown to service more than 5,000 customers from over 75 countries, a majority of which are from the company’s core markets of Benelux, DACH, the UK and the U.S. www.recruitee.com

About PSG

PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.


Press Contact Javelo : Paul Baratte & Gauthier Chatelain – contact@javelo.io

Press Contact Sympa : Jennifer Bailey – jennifer.bailey@sympa.com

Press Contact Recruitee : Anne Smink – anne.smink@recruitee.com

Press Contact PSG : Prosek Partners – Ryan Smith – rsmith@prosek.com – +44 785 475 0943

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Carlyle to Acquire ManTech in All-Cash Transaction Valued at Approximately $4.2 Billion

Carlyle

ManTech shareholders to receive $96.00 in cash per share

HERNDON, Va., May 16, 2022 – ManTech International Corporation (Nasdaq: MANT) (“ManTech” or the “Company”), a leading provider of innovative technologies and solutions for mission-critical national security programs, today announced that it has entered into a definitive agreement to be acquired by funds managed by global investment firm Carlyle (NASDAQ: CG) in an all-cash transaction with a total enterprise value of approximately $4.2 billion.

Under the terms of the transaction, ManTech shareholders will receive $96.00 per share in cash, which represents a 32% premium to ManTech’s unaffected closing share price of $72.82 on February 2, 2022, the last trading day prior to published media reports regarding a potential strategic process for the Company, and a 17% premium to the closing stock price of $81.97 on May 13, 2022.

“We have always admired ManTech’s unwavering commitment to support national security customers and their critical missions through differentiated capabilities and technology solutions. ManTech’s talented employees and leadership team have built a remarkable Company with strong market positions across the federal government,” said Dayne Baird, a Managing Director on Carlyle’s Aerospace & Government Services team. “Through this partnership, we look forward to leveraging our sector expertise and resources to accelerate growth and innovation and to drive greater value for customers and employees.”

“This announcement is an important milestone for ManTech and a testament to our growth and the leadership position we have built since our founding by George Pedersen more than 50 years ago,” said ManTech Chairman, Chief Executive Officer and President Kevin M. Phillips. “Following a comprehensive review of strategic alternatives, our Board determined that this transaction is in the best interest of our shareholders and provides them with the most compelling value maximization outcome, offering liquidity at a significant premium. We look forward to leveraging Carlyle’s deep knowledge and experience investing in and growing companies, as we deliver stronger outcomes for our customers and increased opportunities for our employees.”

Transaction Details

The transaction was unanimously approved by ManTech’s Board of Directors, which recommends that ManTech shareholders vote in favor of the transaction. The transaction is expected to close in the second half of calendar 2022, subject to approval by ManTech shareholders, receipt of regulatory approvals and other customary closing conditions.

Stockholders holding shares of common stock representing 49.2% of the current outstanding voting power of the ManTech common stock have entered into a voting agreement pursuant to which they have agreed, among other things, to vote their shares of common stock in favor of the transaction, subject to certain conditions.

Advisors
Goldman Sachs & Co. LLC is serving as exclusive financial advisor and King & Spalding LLP is serving as legal counsel to ManTech in connection with the transaction.

Robert W. Baird & Co. is serving as financial advisor and Latham & Watkins LLP is serving as legal advisor to Carlyle in connection with the transaction.

About ManTech International Corporation
ManTech provides mission-focused technology solutions and services for U.S. defense, intelligence and federal civilian agencies. In business for more than 53 years, we excel in full-spectrum cyber, data collection & analytics, enterprise IT, systems engineering and software application development solutions that support national and homeland security. Additional information on ManTech can be found at www.mantech.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $325 billion of assets under management as of March 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,900 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

Additional Information about the Acquisition and Where to Find It
This communication is being made in respect of the proposed transaction involving ManTech International Corporation (“ManTech”) and Carlyle. A meeting of the stockholders of ManTech will be announced as promptly as practicable to seek stockholder approval in connection with the proposed Merger. ManTech expects to file with the Securities and Exchange Commission (“SEC”) a proxy statement and other relevant documents in connection with the proposed Merger. The definitive proxy statement will be sent or given to the stockholders of ManTech and will contain important information about the proposed Merger and related matters. STOCKHOLDERS OF MANTECH ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MANTECH AND THE MERGER. Investors may obtain a free copy of these materials (when they are available) and other documents filed by ManTech with the SEC at the SEC’s website at www.sec.gov.

ManTech and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in soliciting proxies from its stockholders in connection with the Merger. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of ManTech’s stockholders in connection with the proposed transaction will be set forth in ManTech’s definitive proxy statement for its stockholder meeting at which the proposed transaction will be submitted for approval by ManTech’s stockholders. You may also find additional information about ManTech’s directors and executive officers in ManTech’s definitive proxy statement for its 2022 Annual Meeting of Stockholders, which was filed with the SEC on April 29, 2022, and in subsequently filed Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain forward-looking statements concerning ManTech and the proposed transaction between ManTech and Carlyle. All statements other than statements of fact, including information concerning future results, are forward-looking statements. These forward-looking statements are generally identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions. Such forward-looking statements include, but are not limited to, the inability to obtain required regulatory approvals or satisfy other conditions to the closing of the proposed transaction; unexpected costs, liabilities or delays in connection with the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction; the significant transaction costs associated with the proposed transaction and other risks that may imperil the consummation of the proposed transaction, which may result in the transaction not being consummated within the expected time period or at all; negative effects of the announcement, pendency or consummation of the transaction on the market price of ManTech’s common stock or operating results, including as a result of changes in key customer, supplier, employee or other business relationships; the risk of litigation or regulatory actions; the inability of ManTech to retain and hire key personnel; the risk that certain contractual restrictions contained in the business combination agreement during the pendency of the proposed transaction could adversely affect ManTech’s ability to pursue business opportunities or strategic transactions; and failure to maintain ManTech’s relationship with the U.S. government, or the failure to compete effectively for new contract awards or to retain existing U.S. government contracts during the pendency of the transaction.

Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Given these risks and uncertainties, persons reading this communication are cautioned not to place undue reliance on such forward-looking statements. ManTech assumes no obligation to update or revise the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law.

Contacts:

ManTech Investor Relations 
Stephen Vather
VP, M&A and Investor Relations
(703) 218-6093
Stephen.Vather@ManTech.com

ManTech Media
Sheila Blackwell
VP, Enterprise Marketing & Communications
(301) 717-7345
Sheila.Blackwell@ManTech.com

Carlyle
Brittany Berliner
(202) 813-4839
Brittany.Berliner@Carlyle.com

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ARIANEE’S raises €20M series A, led by Tiger Global

Isai

Arianee, the leading web3 solutions platform for brands, today announced that it has raised its €20M Series A funding round led by Tiger Global. BPI, ISAI, Cygni Labs and Noia Capital, Arianee’s existing investors, have renewed their support by participating in this second round. They are joined by Commerce Venture and Motier Ventures.

Web3 is a unique opportunity for companies and individuals to regain control over their digital presence, especially their data. It’s the time for businesses to free themselves from the dependency on big platforms and lead new usage and innovation.

Since 2018, Arianee’s ambition has been to disrupt CRM by leveraging web3 technologies. Its mission is to provide businesses with simple solutions to build direct-to-consumer relationships, respectful of user data, and independent from big tech platforms.

Arianee is an end to end web3 solution built to create, distribute and interact with NFTs. The platform and products enable brands to tokenize, distribute and leverage value through NFTs.

The range of technological solutions developed by Arianee has enabled the startup to become a globally recognized reference. Arianee’s platform, built on its open source protocol, is used in a wide range of industries and by major brands such as Printemps, Breitling, Groupe Casino, Vacheron Constantin, Paris Fashion Week, Panerai and IWC. Its SaaS platform allows brands to create enriched NFTs packed with exclusive and unique features (Airdrop claim, CRM, time-stamping, transparency, AR, metaverse deployment, etc) and distribute them to all kinds of audiences, crypto native or not, with seamless consumer journeys, from physical to digital redeem, from claim to drop, free to auction. Its architecture has been built to fit the integration needs of enterprises’ information systems and its end user interface solutions are designed to be fully embedded within each brand’s user journeys with white label and SDK options.

Since 2000, the retail and distribution sectors have undergone unprecedented changes with new practices emerging. The digitization of customer relations, the circular economy, transparency, traceability and responsible consumption have become key issues for today’s consumers.

The emergence of new distribution channels has reinforced this strong trend: besides the traditional physical and digital channels used by brands to establish and maintain the relationships with their customers, new immersive channels in the metaverse are now added. Web3 is considered one of the biggest opportunities for brands since the creation of the Internet. With Arianee’s solutions, they can build their token and wallet real estate and create paths for their communities to move seamlessly from one world to another, from physical to digital to immersive.

The company, whose staff has tripled since its last funding round in March 2021, currently has more than 50 clients and partners (including IBM and the metaverse The Sandbox) in Europe and North America. With this new round of financing, Arianee is looking to accelerate its international presence by growing its New York office, recruiting new talent and continuing the development of its products and services.

Pierre-Nicolas Hurstel, CEO & co-founder of Arianee adds: “We are thrilled to welcome one of the most influential global investors to our journey and to see our historical partners continue to back us. The structure of the investment in both equity & $ARIA20 token shows how a diverse global range of investors, from BPI to Tiger Global, is willing to invest on open source and SaaS web3 solutions. Web3 is eating the world and we believe brands can leverage this revolution to regain control of their digital presence. We also want to build for each and every user and not just for a minority. This requires robust and seamless tools and interfaces allowing communities to move from one world to another, from physical to digital to immersive.”

Griffin Schroder, Tiger Global said: “As a web3 pioneer, Arianee has developed innovative solutions that are reinventing customer relationship management. We are excited to support Arianee’s development and believe they are well positioned to become a leading global web3 solution for brands.”

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Peak Rock Capital affiliate completes acquisition of Mojix

Peak Rock Capital

Austin, Texas, May 10, 2022 – An affiliate of Peak Rock Capital (“Peak Rock”), a leading middlemarket
private investment firm, announced today that it has completed the acquisition of Mojix Inc.
(“Mojix” or the “Company”), a leading supply chain SaaS platform.
Mojix’s item-level inventory management and traceability solutions are used by leading food &
beverage, luxury brand, manufacturing, industrial, aerospace & defense, and retail clients across the
globe. Founded in 2004 and with offices in the United States, Europe, and South America, Mojix
provides a cloud-based platform for modernizing inventory and asset management to facilitate
omnichannel order fulfillment, increase operational efficiency, improve inventory accuracy, and
enhance the customer experience.

Pete Leibman, Managing Director at Peak Rock, said, “Our investment in Mojix will provide
significant growth capital to accelerate the Company’s product roadmap and pursue organic growth
and strategic acquisitions. Mojix’s track record as a leading item-level inventory management software
platform is impressive and we look forward to partnering with management to expand the Company’s
technology capabilities, geographic footprint, and core industry verticals.”

Dan Doles, CEO of Mojix, commented, “We are excited to partner with Peak Rock as we embark on
our next phase of growth. Peak Rock has a deep understanding of our customers’ use cases and our
technology capabilities, as well as a compelling track record of supporting companies and management
teams in driving innovation and building leading software platforms. We look forward to our
partnership, which will position the Company to accelerate its rapid growth by expanding our team,
supporting our traceability capabilities, and better serving our customers.”
“This transaction exemplifies Peak Rock’s commitment to invest in high growth software platforms.
Our investment in Mojix is also an important example of our broader focus on investing in wellpositioned
technology businesses serving durable, growing end markets. We look forward to
supporting the Mojix team in their next phase of growth.” added Anthony DiSimone, Chief Executive
Officer of Peak Rock.

ABOUT MOJIX
Mojix is a global leader in item-level supply chain intelligence software. The firm is leading the way in
item-level traceability solutions utilizing its high security, globally scalable cloud-hosted SaaS platform.
Mojix builds business intelligence from event-triggered actions tracking billions of unique identities,
following item lifecycles from source to shelf. Companies can leverage the seamlessly integrated data
to increase their sales and operational efficiency, reduce major risks and enhance their customer
experience. With offices across the United States, Europe and South America, Mojix is now a
recognized expert in end-to-end, item-level track and trace, product authentication and automated
inventory management. Learn more at www.mojix.com

ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is a leading middle-market private investment firm that makes equity and debt
investments in companies in North America and Europe. Peak Rock’s equity investment platform
focuses on opportunities where it can support senior management to drive rapid growth and
performance improvement, with expertise in corporate carve-outs and partnering with families and
founders seeking first-time institutional capital. Peak Rock’s credit platform invests across capital
structures, with a broad mandate to provide flexible, tailored capital solutions to middle-market and
growth-oriented businesses. Peak Rock’s real estate platform makes equity and debt investments in
small to mid-sized real estate assets in attractive, growing geographies. For further information about
Peak Rock Capital, please visit www.peakrockcapital.com.

Media Contact:
Daniel Yunger
Kekst CNC
(212) 521-4800
daniel.yunger@kekstcnc.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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Coexya, a company supported by Argos Wityu, is to acquire Aquilab.

argos wityu

The acquisition will enable Coexya to strengthen its leadership position in healthcare and more specifically in oncology.

Lyon (France), 25 April 2022 – Coexya, an independent digital leader in consulting, integration and software development, is to acquire Aquilab, a software company specialised in healthcare. The transaction will be a strategic merger of the two companies, enabling them to pursue their development.

Based in northern France, Aquilab has been a recognised software provider in the field of oncology for more than 20 years. Aquilab’s range of software and services improves the quality of treatment:
• Artiscan ensures the quality of imaging and radiotherapy equipment.
• Artiview improves the preparation and evaluation of radiotherapy treatment.
• Onco Place, evaluates and identifies new therapeutic strategies for its 3,300 users through the analysis of its clinical study database.

Both companies are strong in healthcare and oncology data. The merger will take advantage of their complementary nature and enable them to create multi-centric clinical studies. Coexya will use its Consore solution to create cohorts of patients, while Aquilab will use Onco Place to manage clinical studies.

Coexya will be able to share its expertise with Aquilab’s 350 European customers, and Aquilab will be able to accelerate its product development thanks to Coexya’s recognised expertise in data processing and artificial intelligence.

Formerly the French arm of the Sword group, Coexya was acquired by Argos Wityu in 2021, and has since then implemented an acquisition strategy to develop its product division and its international presence.

Healthcare accounts for 15% of Coexya’s activities. The company provides the sector with its OdyCare software and its integration services. Coexya understands the challenges its customers face and supports them in their digital transition. Their appropriate, ergonomic solutions make it easier to offer coordinated care, to guide patients and get more value from its patient data.

Philippe le Calvé, CEO of Coexya, said, “I am particularly pleased that Coexya is acquiring Aquilab, a company active in the healthcare sector. Our customers will be able to take advantage of an expanded range of services in France and abroad. We are delighted to welcome Aquilab’s employees into our group through a transaction that will also enable us to develop in the region of Lille.

David Gibon, Aquilab’s chief executive, said, “For more than 20 years, we have been providing innovative products devoted to improving the quality of cancer treatment. The merger with Coexya will enable us to strengthen our expertise in data and AI so as to step up our development in predictive medicine. Aquilab and Coexya have customers in common and share the same values. By leveraging these synergies, we will be able to propose new solutions and provide better treatment to people suffering from cancer.”

Karel Kroupa, Argos Wityu Managing Partner, added, “The merger between Aquilab and Coexya is right in line with the group’s business development strategy, as employed by Philippe Le Calvé and his team. Coexya will now be able to use the expertise of the two companies to offer complementary services to its customers.”

Argos Wityu team: Karel Kroupa, Simon Guichard, Afif Chebaro

Argos Wityu

Coralie Cornet
Head of Communications
ccc@argos.fund
+33 6 14 38 33 37

Coexya

Carine Groz
Director of Communications
carine.groz@coexya.eu
+33 6 14 01 15 58

About Argos Wityu / www.argos.wityu.fund Argos Wityu is an independent European investment fund that supports companies in the transfer of business ownership. It has assisted more than 80 entrepreneurs, focusing its investment strategy on complex transactions with emphasis on transformation, growth, and close collaboration with management teams. Argos Wityu seeks to acquire majority interests and invest between €10m and €100m with each transaction. With more than €1bn under management and 30 years of experience, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan and Paris.

About Coexya / www.coexya.eu
Coexya has more than 20 years of experience in consulting, integration and software development and is specialised in digital transformation. In 2020, Coexya changed shareholders and with the support of its executives, operational managers and the European investment fund Argos Wityu, became independent of the Sword Group. Coexya’s mission is to support organisations by developing solutions that address the new ways employees and customers use data. Coexya is active in six areas of expertise: customer experience, digital content, health, legal, location intelligence and smart data.
The group serves more than 370 clients and generated turnover of nearly €70m in 2021. Coexya has more than 700 employees based in Brest, Lyon, Paris and Rennes.

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Mendel Raises $40 Million Series B Round to Expand its Team and Grow Product Offering

Dcm Ventures

SAN JOSE, Calif., April 21, 2022 /PRNewswire/ — Mendel, the leading clinical artificial intelligence and natural language processing platform, today announced it has raised $40 million in Series B funding round led by Oak HC/FT. The round includes participation from existing investor DCM, who led Mendel’s Series A funding round in June 2021.

This funding comes amidst surging customer demand for Mendel’s AI infrastructure. The fresh capital will enable the company to expand its team of AI and engineering teams and scale the commercial organization. It will also help accelerate the release of Mendel’s new, breakthrough product, Resolve, which consolidates clinical information to create a coherent longitudinal view of the patient journey. Traditionally, it takes nearly five years to manually abstract 2 million patient lives. Mendel’s Resolve abstracts the same number in less than 24 hours.

“The capital we have raised is a testament to the strong market fit and demand,” said Karim Galil, Co-Founder and CEO of Mendel. “Our vision it to weave Mendel into the fabric of every healthcare data platform. It’s exciting to partner with Oak HC/FT as we enable the healthcare ecosystem to provide better care for every patient.”

The healthcare industry faces immense challenges in parsing unstructured medical data that is highly valuable, but also extremely difficult and expensive to access. Mendel’s solution unlocks 80% of the world’s clinical data by leveraging contextual understanding to transform unstructured electronic medical record (EMR) data and clinical literature into comprehensive and compliant analytics-ready data. It abstracts data 27,000 times faster than the primarily manual methods most frequently used in clinical settings, and its output is reviewed and validated by a team of clinical experts to guarantee research-grade output.

“We believe Mendel can become a mission-critical infrastructure platform for the healthcare industry,” said Billy Deitch, Partner at Oak HC/FT. “Mendel’s technology sets a new standard in accuracy and scalability for processing unstructured medical data and we are confident that the company will continue to lead the industry with cutting edge solutions [and delivering for their customers].”

“Going as far back as our first investment in 2017, we’ve always known that Mendel’s novel AI technology was going to change the face of healthcare’s information infrastructure,” said Hurst Lin, General Partner at DCM. “We’re proud to continue to support Mendel through its next phase of growth that comes at such a critical time for the entire healthcare industry.”

For more information about Mendel visit Mendel.ai, and to see open positions visit Mendel.ai/careers.

About Mendel
Mendel is a machine that can read and understand medicine. Mendel Health is a for-profit corporation headquartered in San Jose, California that uses novel AI technology to absorb clinical data in medical literature as well as patient health records, to unlock a wide range of Real World Data applications. For more information about Mendel, visit Mendel.ai.

About OAK HC/FT 
Oak HC/FT is a venture and growth equity firm investing in companies driving transformation in healthcare and fintech, two uniquely complementary and high-growth sectors. With deep domain expertise and strategic resources, Oak HC/FT partners with leading entrepreneurs at every stage, from seed to growth, to build businesses that make a measurable, lasting impact on these industries. Founded in 2014, the firm has $3.3 billion in assets under management and is headquartered in Greenwich, CT, with investors in San Francisco and Boston. Follow Oak HC/FT on Twitter and LinkedIn and learn more at oakhcft.com.

About DCM
DCM is a global venture capital firm based in Silicon Valley, Beijing and Tokyo with over $4.2 billion under management and a 25-year track record of top performance. DCM has invested in more than 400 early-stage technology companies globally and provides hands-on operational guidance and a global network of business and financial resources. DCM portfolio companies have an aggregate enterprise value exceeding $250 billion including industry leading companies Bill.com, Careem (UBER), Hims & Hers, Kuaishou, Musically (TikTok) and SoFi. For more information, visit https://www.dcm.com.

Media Contact:
Amalia Lytle
646-818-9271

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Partners Group to acquire Version 1, a leading digital transformation services provider in the UK and Ireland

Partners Group
  • Version 1 has around 450 clients across the private and public sector
  • The digital transformation services sector is experiencing strong tailwinds
  • Partners Group plans to work with Version 1’s best-in-class management team to support its accelerated growth journey and further internationalization

Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire Version 1 (or “the Company”), one of the leading digital transformation services providers in the UK and Ireland, from Volpi Capital and management.

Headquartered in Dublin, Version 1 works with private and public sector clients on complex digital transformation programs. The Company’s services include application modernization, cloud migration services, and cloud-native software engineering, which involves the development of applications in the cloud. Version 1 has approximately 450 clients, including blue-chip companies and central government departments, and 2,100 employees across offices in Ireland, the UK, India, and Spain. In the last ten years, the Company has successfully integrated 13 add-on acquisitions that have expanded its service portfolio and geographic coverage. The digital transformation services sector is experiencing strong tailwinds including increasing company investment in new digital initiatives and solutions and the growing need to migrate technology infrastructure to the cloud.

Partners Group will work with Version 1’s management team in its next phase of growth as a leading digital transformation specialist. Partners Group’s value creation plan aims to achieve double-digit growth by developing the Company’s service offering and technical depth, building its international presence, and pursuing accretive M&A.

Kim Nguyen, Partner, Co-Head Private Equity Services, Partners Group, says: “We have been tracking Version 1 through our thematic focus on digital transformation. Based on our investment and value creation track record related to this theme, we value Version 1’s strong leadership team, differentiated offering, and operations which are reflected by excellent customer and employee satisfaction scores, and impressive organic growth. The Company is well-positioned to capitalize on the tailwinds driving increased digitization across both the private and public sector and we have conviction in its growth prospects. We look forward to working with Version 1’s ambitious management team on our value creation plan.”

Tom O’Connor, Chief Executive Officer, Version 1, comments: “We are extremely pleased to have secured Partners Group as our new partner and majority shareholder. Throughout our process, the firm’s core values, track record and ambition best matched those of Version 1. Partners Group’s sectoral knowledge and international reach will be as important to Version 1 as their investment and endorsement of our growth strategy. We are also pleased for our customers and staff who will benefit as we continue to grow and add more great people to the Version 1 team.”

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Beamy raises US$9 million to govern the explosion of Saas in companies

Beamy, a European pioneer in SaaS management for large companies, has raised more than 9 million dollars in Series A funding. This funding round was led by the ISAI, Aglaé Venturesand Evolem funds, as well as business angels Nicolas Hernandez (360 Learning) and Erwan Keraudy (CybelAngel). The solution has already attracted notable customers including LVMH, Decathlon, Orange, Engie and BNP Paribas to provide a framework for governing the decentralisation and implementation of their SaaS tools across their businesses.

Becoming aware of the explosion of SaaS in business is vital.

Beamy, a scale-up featured in “Future 40” of STATION F, offers companies a unique solution that can detect and control the explosion of SaaS applications used in a decentralised way. The platform thus helps CIOs and other IT leaders to control this parallel IT/digitalisation and strengthen their employees’ technological autonomy while preserving corporate governance.

The days of cumbersome and complex software suites being solely implemented and managed by IT departments are over. For years, SaaS has been exploding uncontrollably in large companies, creating underground digitalization.

In companies with more than 1,000 employees, there are on average several hundred different SaaS solutions in use, representing several million dollars in annual costs. According to a recent study by KPMG, the SaaS budget of companies is set to increase by 90% in the next 10 years, covering several thousand different solutions. A new IT paradigm is emerging.

However, this massive adoption of SaaS is largely outside of the IT department’s control, which leads to a considerable underestimation of the real volume of SaaS applications already used by the business lines. Consequently, these companies become highly vulnerable to the risks of cyber attacks: each uncontrolled SaaS application represents a potential security breach. Finally, SaaS budgets, representing an ever-increasing share of corporate IT, are largely under-optimized. Many SaaS solutions cover the same uses and are thus redundant, while others are underused or even completely unused.

“In general, when we meet a CIO of a large company, they estimate that their organization uses 30 to 40 SaaS tools. However, when we begin working together, our technology detects several hundred active SaaS solutions, often revealing more than 75% of shadow IT,” explains Beamy CEO and co-founder Andréa Jacquemin.

The need to build a framework of technological autonomy for all professionals

There is a change in the way large enterprises procure, implement, use and manage SaaS software applications. It’s more than just an IT phenomenon – the explosion of SaaS has introduced a real change in business organisation:

“The top down vision of IT is over. We are witnessing a true decentralization of technological ownership and empowerment of business units, which are selecting and implementing their own solution,” explains Andrea Jacquemin.

Accepting this trend means allowing employees who consider technology to be vital to the completion of their activities, to be engaged and become the primary actors in their IT landscapes.

“The decentralisation framework must be compatible with the technological autonomy granted. This is a story of balance. If we put too many constraints on employees’ ability to choose their applications and implement lengthy processes, they will still use the applications but won’t go through the proper channels with IT in the implementation,” explained Andrea Jacquemin. “Without a solid structure of decentralisation, the risks will be considerably increased and the budgets won’t be optimised. In any situation, you have to find the proper balance in terms of autonomy that works for your workforce, but keeping the status quo on this subject is the worst solution.”

For this, Beamy has developed powerful scoring algorithms capable of detecting all of the SaaS applications actually implemented in the company. Beamy is then able to follow the evolution of each application over time, provide employees with a catalog of all applications implemented in the company, define an autonomy matrix according to the potential risks of future applications, and navigate an app store of more than 50,000 applications on the market.

Beamy thus guarantees a global approach to SaaS governance necessary to support large companies in the long term to structure their IT decentralisation and establishing synergy between all stakeholders (CEOs, CIOs/other IT leaders, and business teams).

Beamy wants to accelerate its international expansion

With an impressive end to 2021, this fundraising will allow the company to accelerate its international development (Beamy already being present in France and the United Kingdom on the international market), to create global leadership, and to strengthen customer relations by supporting them in their long-term governance efforts. “We are convinced that SaaS issues are major issues for large companies, whether French or international. With this fundraising from major investors including Agaé Ventures and Isai, both of whom are recognized for offering cutting edge expertise in the tech sector, we are setting out to conquer the international market,” explains Andrea Jacquemin.

To do this, Beamy plans to focus its investments on two major areas: recruitment, with plans to hire 40 more team members in the next twelve months, and product development, with the strengthening of detection technology and decentralisation workflows to further streamline collaboration between IT and business lines in the implementation and management of new SaaS solutions.

“As investors, we are familiar with the SaaS model and the benefits that users and business departments can derive from it. For large companies, mastering this deployment, which is often in the ‘shadows’, represents a real challenge,” said Jean-David Chambordeon, CEO of ISAI. “The vision of Beamy’s founders to identify, rationalize, unify, and allow the security of this B2B SaaS stack within organizations quickly convinced us. The excellent customer feedback we have been able to collect shows that Beamy is in the process of becoming the reference platform in this field.”

“Beamy provides an exhaustive view of SaaS tools and provides a governance platform with a real return on investment,” said Léa Verdillon of Aglaé Ventures. “The great feedback we’ve heard from customers convinced us that Andréa and Edouard formed the right team to develop Beamy. The international ambition that drives them is in perfect harmony with the fast-growing market, particularly in the United States, which is one of our areas of investment.”

Press contact
beamy@lagencerp.com
Lucille Lavigne – 06 98 62 07 92
Mélina Dahmane – 06 58 94 47 82

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