On Industrifonden’s investment in Logical Clocks- transforming the machine learning workflow

Industriefonden
September 24, 2021

It was recently announced that Logical Clocks raised 5 million euros from Industrifonden and Inventure to accelerate international growth. Logical Clocks offers Hopsworks, a state of the art platform that includes the industry’s leading Feature Store for machine learning, and a data science platform for the design and operation of machine learning workflows. They already have several large international clients such as AGL Australia, Wildlife Studios and SparkNZ. Logical Clocks is experiencing fast growth that will increase further with the recent investment.

At Industrifonden, we believe in the transformational power of AI and that the hype cycle we have seen will turn into a new era of machine learning actually being applied on a much broader scale, in everything from solutions to global challenges such as the climate crisis to improving everyday business decisions (see our AI-investment thesis here). Logical Clocks’ platform, called Hopsworks, solves many of the problems ML initiatives face today. Therefore, supporting Logical Clocks journey in enabling the operationalization of AI will radically accelerate the use of AI in many industries.

In 2011, Marc Andressen coined the expression “Software is eating the world”. Ten years later, we believe it is time for AI to eat software. However, so far what we are seeing is that too many companies are failing in their early machine learning initiatives, especially in getting models into production and generating value or reducing costs for the business1. Problems in managing data for training and serving models, disconnected teams, as well as not having a complete solution for automated machine learning workflows, are some of the issues leading to the slow and, often unsuccessful, adoption of machine learning.

Companies are investing large amounts of money into trying to resolve some of these issues and deal with the ongoing explosion in data. Typically, before tackling AI, companies first build a foundation for a modern data infrastructure, with support for scalable and often real-time analysis. This investment in data infrastructure is expected to accelerate coming years2. As the market for data infrastructure and AI technologies matures and grows, companies need more and better access to innovative AI models, applications and platforms. Unless AI models are in production, there is no return on investment.

Meet Logical Clocks and their platform, Hopsworks

Hopsworks is a platform for the design and operation of AI systems. It is designed to solve many of these challenges and pain points, providing a centralized ML platform with the industry’s most advanced and high performance Feature Store. This enables organizations to manage models with low latency access to data spanning the whole organization. With Hopsworks, companies can easily deploy real-time features (features are the clean, information-rich data used to train and make predictions with models), govern models with custom metadata and built-in data provenance, and increase effectiveness and collaboration across data and ML teams.

In other words, Hopsworks introduces a pivotal technology that streamlines the management of features, making it simpler, faster, and cheaper to move models to production. Hopsworks’ was built on a principle of being an open platform that allows data teams to choose their tools and deployment environment, either on-premises or as a managed platform in the cloud.

Hopsworks is available both on-premises and as a managed service on AWS and Azure today. It supports Python and Spark environments for feature engineering and model training, and it connects with the largest number of data storage and data science tools. The platform offers two product tiers: the open-source Community version that targets individuals or small organizations that want to try the Hopsworks Feature Store, and the Enterprise version that provides security and integrations to support organizations in building production machine learning applications at scale.

With this funding round, Logical Clocks will accelerate its international mission to help enterprises implement and manage AI-models at scale. We are extremely impressed with the team’s grit, strong research background, and technical skills. We could not be more excited and honored to partner with Jim, Theo, Fabio and the other eight founders on the next stage of the company’s journey!

/ Rebecka Löthman Rydå, Investment Director

  1. https://www.forbes.com/sites/gilpress/2020/01/13/ai-stats-news-only-146-of-firms-have-deployed-ai-capabilities-in-production/?sh=12b869282650
  2. https://www.slideshare.net/delphixdecks/90-of-enterprises-are-using-dataops-why-arent-you

Categories: News

Tags:

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

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

Categories: News

Tags:

Trackunit and ZTR come together to connect construction

HG Capital

LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.

“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”

Soeren Brogaard, CEO of Trackunit

“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”

Sam Hassan, President & CEO of ZTR

Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.

“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.

“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.

Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.

After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.

“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.

Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.

“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.

A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.

“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.

About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.

Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.

From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more

About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.

Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.

ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.

The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com

Media contacts

Trackunit Aps
Laerke Ullerup
Chief Marketing Officer

Gasværksvej 24, 4.sal,
DK-9000 Aalborg

Tel: +45 53703033
LUL@trackunit.com

ZTR
Colleen Burghardt
Marketing Communications Manager

Industrial IoT Division
955 Green Valley Road
London, Ontario Canada
N6N 1E4

Tel: 1-519-452-1233 Ext.337
cburghardt@ztr.com

Trackunit and ZTR come together to connect construction

HG Capital

LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.

“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”

Soeren Brogaard, CEO of Trackunit

“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”

Sam Hassan, President & CEO of ZTR

Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.

“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.

“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.

Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.

After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.

“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.

Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.

“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.

A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.

“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.

About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.

Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.

From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more

About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.

Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.

ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.

The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com

Media contacts

Trackunit Aps
Laerke Ullerup
Chief Marketing Officer

Gasværksvej 24, 4.sal,
DK-9000 Aalborg

Tel: +45 53703033
LUL@trackunit.com

ZTR
Colleen Burghardt
Marketing Communications Manager

Industrial IoT Division
955 Green Valley Road
London, Ontario Canada
N6N 1E4

Tel: 1-519-452-1233 Ext.337
cburghardt@ztr.com

Apax Partners to sell a majority shareholding in Marlink to Providence Equity Partners

Ardian

13 September 2021 Co-Investment United-KIngdom, London

London and Paris, September 13, 2021 –  Apax Partners SAS (“Apax”), the leading European private equity firm based in Paris, announces that it has sold a majority stake in Marlink (the “Company”) to Providence Equity Partners (“Providence”), a leading private equity firm specializing in media, communications, education, software and services. The transaction values the Marlink Group at $1.4 billion. No further information on the terms of the transaction is disclosed.

  • The transaction values Marlink at $1.4 billion.
  • Marlink’s management team is significantly reinvesting in the transaction.
  • Ardian is also taking an equity stake.
  • The objective: to accelerate Marlink’s growth in the face of increasing broadband demand and the accelerating digitalization of its customers.

Convinced of the group’s growth prospects, Apax retains a significant minority stake in Marlink. Ardian and Marlink’s management team are also investing alongside Apax and Providence.

Based in Paris and Oslo, Marlink is the leading independent provider of communications services and solutions in the most remote areas of the world. The group serves the largest companies in the maritime and land-based sectors.

“Marlink offers a comprehensive set of smart grid solutions, combining terrestrial and satellite connectivity, computing, cloud, cybersecurity and IoT managed services,” said Karim Tabet, President and CEO of Providence. “We are thrilled to partner with such an outstanding company as Marlink. Along with Apax and Ardian, we look forward to supporting Erik Ceuppens and his team. As a leader in its market, Marlink wants to capitalize on the growing demand for digital solutions and broadband connectivity.”

Michael Vervisch, Managing Director of Providence, added: “We have been impressed with Marlink’s transformation into a leading broadband provider, able to operate its own network and generate economies of scale to become a leader within its industry. By offering digital solutions with real added value, among other things, we will be able to create real growth opportunities in the future.”

Bertrand Pivin, Partner at Apax, said: “Apax first invested in Marlink 15 years ago. Under the leadership of Erik Ceuppens, the company has completely transformed its value proposition, tripling its revenues and increasing its EBITDA by a factor of 10. It has become the world’s leading operator of satellite services, first in the maritime sector and more recently in the enterprise sector with the acquisition of ITC Global. The 10,000 broadband terminals installed around the world are a true lever for the design and delivery of critical digital services sought by Marlink’s direct customers in their strategic operations. We are convinced that Providence is a partner of choice to lead the next steps in the group’s development and are happy to continue the adventure with them.”

Erik Ceuppens, CEO of Marlink, said: “This major transaction demonstrates the confidence of our investors in the strength of our company and its development potential. Through significant organic growth and several targeted strategic acquisitions, Marlink has established itself as a leader in B2B satellite communication solutions. In line with its Smart Network strategy, Marlink is working hard to rapidly digitize its customers’ remote operations and support their sustainability. We are delighted to partner with leading private equity investors Providence and Ardian as our new majority shareholders, and to have the full support of our first ever investor Apax. With their support, our management team and our employees, we have all the keys in hand to take Marlink to the next level.”

Alexandre Motte, Head of Ardian Co-Investment, said: “Whether it is the company’s unique positioning in the B2B satellite communications industry or the various achievements of Erik and his team, we have been particularly impressed with Marlink. With new opportunities for growth – including significant acquisitions – and the increasing need for services and connectivity, we are excited to be a part of writing this new chapter in Marlink’s development. Many thanks to Marlink, Providence and Apax for their confidence. We look forward to contributing to this collaboration!”

Subject to customary and regulatory approvals, the transaction is expected to close in the first half of 2022.

Parties to the transaction

  • Providence

    • Providence : Karim Tabet, Michael Vervisch, Stefano Bosio, Tarik Ben Brahim
    • Conseils M&A : UBS (Christian Lesueur, Abhishek Dhacholia)
    • Conseils Capital Markets : DC Advisory (Ciara O’Neill)
    • Due Diligence commerciale : Arthur D. Little (Guillaume Picq, Matteo Ainardi)
    • Due Diligence financière : FTI Consulting (Aneesh Maloo, Thomas Rawlinson)
    • Juridique : Paul Hastings (Arthur de Baudry d’Asson), Allen & Overy (Vanessa Xu)
    • Fiscal : KPMG (Saul Russo)
  • Apax Partners

    • Apax : Bertrand Pivin, Vincent Colomb, Arnaud Vigier
    • Conseils M&A : Goldman Sachs (Céline Méchain, Thomas Gagnez), BNP Paribas (Sylvina Mayer, Marc Walbaum, Claire Ramaharobandro)
    • Due Diligence commerciale : BCG (Franck Luisada, Benjamin Sarfati)
    • Due Diligence financière : Deloitte (Leonardo Clavijo, Lisa Lauv, Christele Fraisse)
    • Corporate : Weil, Gotshal & Manges (Alexandre Duguay, Guillaume Bonnard)
    • Juridique / social : Mazars (Jérôme Gertler)
    • Fiscal : Taj (Olivier Venzal)

 

ABOUT PROVIDENCE EQUITY PARTNERS

Providence Equity Partners is a leading global private equity firm with nearly $45 billion in committed capital. Providence is a pioneer in the industry approach to private equity, cultivating the idea that a dedicated team of industry experts can build exceptional companies with enduring value. Since its founding in 1989, Providence has invested in more than 170 companies. It is a leading private equity firm focused on the media, telecommunications, education, software solutions and services sectors. Providence has a strong track record of investing in a variety of European TMT companies, including (between 2001 and 2021) Node4, MasMovil, Mach, MobilServ, M7 Group, Ono, Comhem, TDC, Eircom, Bite, Kabel Deutschland and Casema. Providence is headquartered in its namesake metropolis (in the U.S. state of Rhodes Island) and has a branch office in New York and another in London.

 

ABOUT D’APAX PARTNERS

Apax Partners is one of the leading private equity firms in Europe. With over 45 years of experience, Apax Partners supports companies over the long term to make them leaders in their sector. The funds managed and advised by Apax Partners amount to over €4.5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialization: Tech & Telecom, Services, Healthcare and Consumer Goods.

 

ABOUT MARLINK

Marlink Group, the leading independent provider of transmission services and solutions and a pioneer in its field, has been serving the world’s largest maritime and land-based businesses for 75 years. With expertise in the design, installation and operation of intelligent network solutions that combine hybrid connectivity with satellite and terrestrial links, Marlink enables businesses to stay connected at all times, while optimizing the performance of their operations wherever they are, in an increasingly intelligent, efficient and secure manner.

In addition to a range of unparalleled satellite and terrestrial connection services, Marlink offers a range of digital solutions such as network management, cloud access and cybersecurity. Marlink brings unique tailor-made fixed and mobile solutions to each project thanks to its expert teams, its powerful network, and its technology partners. More than 1,000 Marlink employees serve major global customers worldwide, with over 1,500 land-based VSAT installations and over 6,000 maritime VSATs.

More than 200,000 end-users rely on Marlink’s services, including the shipping, transportation, oil and mining industries, media, NGOs, and government institutions.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 780 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Press contact

PROVIDENCE EQUITY PARTNERS

Sard Verbinnen & Co CHARLIE CHICHESTER / RORY KING

Prov-SVC@sardverb.com

APAX PARTNERS

LAUREN BARDET Head of communication

Lauren.bardet@apax.com

MARLINK

JESSIKA DAMMERT Head of marketing and communication

Jessica.dammert@marlink.com +49 (0)175 581 541 3

ARDIAN – Image 7

FLORE LARGER/ ANNE-CHARLOTTE CREACH

ardian@image7.fr

Categories: News

Tags:

Nordic Capital invests in and partners with Qred – one of Europe’s fastest growing fintech companies

Nordic Capital

Nordic Capital Evolution has signed an agreement to invest in the fast-growing fintech company Qred. The investment will be made in partnership with Qred’s management and founders, with the goal of together continuing to significantly expand the business across Europe.

Since its inception in 2015, Qred has become a leading provider of financing and payment services to small businesses in the Nordics and the Netherlands, with its fully automated credit system, digital platform and easy, innovative solutions for entrepreneurs seeking financing. Nordic Capital will support the company in driving growth, investing in new products for responsible and inclusive lending, and increasing its international presence.

Nordic Capital invests in and partners with Qred – one of Europe’s fastest growing fintech companies Image

“Qred has shown that there is a large and growing demand for small business loans that the big banks fail to address. We are now ready to take the next step in the expansion of our digital product offerings by developing Qred into the leading financial platform for small businesses in Europe. I am thrilled to have Nordic Capital on board. They are the best possible partner for us on this journey, and we look forward to drawing on their expertise within technology and financial services and benefitting from their large international network,” says Emil Sunvisson, CEO and co-founder of Qred.

Qred has recently launched the first credit card aimed for small businesses, that have historically had difficulty gaining access to credit. The credit card offering will allow small businesses to take advantage of a credit facility to grow their business and to use a range of smart features including digital expense management. The broadened product range is an important part of helping small businesses to access better, automated credit services and is part of Qred’s growth strategy.

Nordic Capital will become a significant shareholder in the company, while the current founder and management will remain as majority owners. As an active partner, Nordic Capital will support Qred’s future growth journey with its extensive expertise in financial services and its broad international network and will provide capital for innovative investments in technology and new product development.

“We are very impressed by Qred’s strong development and innovative model. By identifying a new market segment and combining it with leading technology, the company has opened the door for many small businesses to grow and realise their dreams. Studies show that lack of financing is one of the biggest challenges for small businesses, while funds lent to small businesses can considerably increase GDP growth, the creation of new jobs and significant extra tax revenues. Together with Qred’s management and founders, Nordic Capital sees great potential to further accelerate growth, expansion into new geographies and the development of new solutions for small businesses,” says David Samuelson, Principal, Nordic Capital Advisors.

Qred’s leading technology and automated data processing give companies a quick and easy credit assessment combined with access to personal customer service. Qred has to date served over 25,000 small businesses in Sweden, Finland, Denmark, the Netherlands and Belgium. In 2020, Qred entered the Brazilian market through a joint venture. Today, Qred has around 12,000 monthly active users of their financing solutions and other credit services.

In 2020, Qred was ranked by the Financial Times as the eighth fastest growing company in Europe. The company enjoys high levels of customer satisfaction with many repeat customers and a Trustpilot score of 4.8 out of 5. Qred has approximately 130 employees and is headquartered in Stockholm with regional offices in Helsinki and Malmö.

Nordic Capital is one of Europe’s leading private equity investors with significant value-add expertise in its focus sectors (including Technology & Payments and Financial Services), combined with extensive experience of developing companies through organic growth and add-on acquisitions

The partnership with Qred is consistent with Nordic Capital’s strategy of investing in innovative companies with the potential to be the leaders of the future. The investment is also fully in line with the firm’s ambition to broaden its successful value creation model to include mid-market companies.

The transaction is subject to customary regulatory approvals. The terms of the transaction were not disclosed.

Media contacts:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Qred
Andrea Romander, Head of Communications
Tel: +46 (0)730 92 66 07
e-mail: andrea.romander@qred.com

About Qred

Founded in 2015 by entrepreneurs for entrepreneurs, Qred is now Sweden’s fastest growing fintech company according to the Financial Times. Qred is the market leader in the Nordic region and has Sweden’s most satisfied customers according to Trustpilot. With operations in Sweden, Finland, Denmark, the Netherlands, Brazil and Belgium, Qred has helped more than 25,000 companies. Qred’s fully automated, proprietary credit scoring system allows Qred to quickly and competitively provide business owners with the power they need to grow. For further information about Qred please visit www.qred.com/en-se.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested close to EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners and/or delegated portfolio manager of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

Categories: News

Tags:

ZeroPoint Technologies raises €2.5 M, led by Industrifonden

Industriefonden
September 8, 2021

The Deep Tech landscape of today offers a lot of investment opportunities and Industrifonden’s strength is to spot and research the best innovations. Therefor we’re very proud to announce that we have led a EUR 2.5 million seed round in ZeroPoint Technologies to finance the company into 2021 and beyond. ZeroPoint Technologies provides the world’s only available real-time Memory Compression IP block for System on Chips (SoCs), effectively doubling a computer’s main memory capacity and memory bandwidth; providing significantly more performance per watt. The new capital will be used to grow and expand the company’s international presence and take several products to market.

The most challenging bottlenecks in computing typically stem from memory capacity and bandwidth. ZeroPoint Technologies’ Ziptilion™ overcomes these bottlenecks: it is the world’s first general-purpose memory compression technology for high performance SoC processor subsystems, such as servers, smart mobiles, and embedded systems. Ziptilion’s™ hardware IP block compresses main memory in real-time by a factor oftwo to four. The solutiondoubles memory capacity and memory bandwidth, resulting in significantly faster systems, more performance per watt, and lower energy use.

“The impact of ZeroPoint Technologies’ product is extremely interesting as it deals with critical bottlenecks in memory capacity and bandwidth. The research that the company builds on comes from Chalmers University. This research, together with the existing owners, Chalmers Invest and a prominent Family Office, signals the promise of this investment opportunity”, says Anna Ljungdahl, Investment Director and Head of Sustainability at Industrifonden.

This investment will support ZeroPoint as they grow their customer base in North America and Asia Pacific, and their development of new innovative products. The company is also set to expand its engineering team in Sweden.

“ZeroPoint Technologies’ ambition is to become the de facto standard for main memory compression in high performance SoC processor subsystems, and this funding gives us muscles to make it happen. Memory bottlenecks are a tremendous challenge for SoC developers, and we mitigate this challenge by doubling main memory capacity and memory bandwidth. Systems with memory compression are environmentally friendly and financially effective. We reduce hardware waste, reduce power consumption, and reduce operating expenses. In short: We deliver more performance per watt”, says ZeroPoint Technologies CEO Klas Moreau.

ZeroPoint Technologies’ IP block is easy to integrate with existing industry standard on-chip-bus-protocols. The IP-block is placed on the memory access path and is invisible to the operating system and applications. Thanks to the ultra-tuned compression/decompression accelerators and that data is compressed when fetched from memory, the memory access latency is often shorter with Ziptilion™ than without.

ZeroPoint Technologies is a spinout from Chalmers University of Technology in Gothenburg, Sweden, and has over the years developed an impressive IP Portfolio in the memory compression domain. Their patented compression technology is based on 15 years of research. Today the company works with industry leaders on product implementation projects and technical evaluations.

Read more in Breakit today.

Welcome to the family ZeroPoint Technologies!

Categories: News

Tags:

AnaCap invests in WebID, a leading German Digital Identity Verification-as-a-Service Provider

Anacap
AnaCap invests in WebID, a leading German Digital Identity Verification-as-a-Service Provider

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announces a majority investment in WebID, a leading German digital identification provider. AnaCap will provide significant growth capital and partner with the founders and existing management team to extend WebID’s product offering to other industries outside of the core financial services and telecoms space where it has a market leading position, such as eGovernment, eHealth, eCommerce and eMobility as well as support inorganic growth through future acquisitions.

WebID provides a range of digital identification solutions for Know Your Customer (“KYC”) purposes, such as identification via video call, online banking, artificial intelligence, as well as qualified electronic signature (“QES”) solutions for E-Signing to leading financial institutions and large corporates across Germany, via its modular IT platform, Global Trust Technology Platform (“GTTP”). WebID is an enabler of the increasingly important offline-to-online channel shift being witnessed globally and holds several patents across Europe, US and China. The company identifies over 15,000 users per day with Video Ident alone and more with their fully automated products, on a 24/7 basis, and has collected and stored over 8 million verified identities. WebID continuously looks to develop new innovative and secure solutions which help make the daily lives of customers, industries, and public authorities more digital, eco-friendly and convenient.

WebID was founded in 2012 and is headquartered in Berlin, other main sites are Hamburg, Kiel, and Solingen. It has ~300 customers including a blue-chip roster of large corporates and financial institutions. WebID is a pioneer of Bafin[1] -approved, AML-compliant video identification solution and is highly respected among its clients and regulators alike. Currently, major lenders such as Deutsche Bank, BNP Paribas and Santander are established core clients and rely on WebID’s KYC solutions to boost their online channel activities.

The DACH region is well known to AnaCap and the investment in WebID follows portfolio company MRH Trowe’s (“MRHT”) continued strong expansion with nine bolt-on growth acquisitions as part of an accelerated buy-and-build strategy in the large and fragmented German corporate insurance broking market, for which AnaCap is leveraging experience from its successful buy-and-build strategy of payments company heidelpay across the region and subsequent successful exit to KKR.

Tassilo Arnhold, Partner at AnaCap, commented:
“WebID is a very impressive company and one we have been tracking for some time, given its footing in the high growth digital identification market in Germany. The banking landscape there is witnessing sustained growth from increasing channel shifts of online vs. offline and the penetration of KYC in online processes that we believe will ultimately lead to a fully online customer journey. WebID is extremely well placed to enable, facilitate and capitalise on this trend, particularly for large banks who are keen adopters for security, operational efficiency and cost management purposes. There is also significant further upside potential through the possible deployment of digital identification solutions in additional verticals going forward via the likes of eGov and eHealth, fuelled by actual real use cases and existing favourable legislation. We look forward to supporting management in the next stage of growth for WebID.”

Frank S. Jorga, Founder of WebID, commented:
“We have had numerous inquiries over the past few years and have been pleased with the interest we have received from prestigious investment companies. For us it was important to have a partner matching the founding spirit of WebID. Now with AnaCap, we have found the right investor to consistently expand our leading position in the market and as an industry pioneer and to significantly accelerate our growth, which has so far been organic. After the company’s formative years, 2020 was an exceptional year for WebID. Sales from 2019 of more than 13 million euros rose to 20 million in 2020 and this year we are heading for 30 million. All this confirms our strategy, which is now supported by AnaCap. Products, such as our invention WebID Video Ident, are of interest to numerous, especially regulated, sectors worldwide due to their high level of security. Our IT platform provides a comprehensive global ecosystem for E-KYC and related services. A first-class portfolio for a strong growth trajectory via new business development and international expansion. AnaCap’s experience and success in the fintech space are ideal to further realize our strategy of ambitious growth. Together, we are taking WebID’s success story to the next level.”

For this transaction, AnaCap received corporate finance advice from GCA Altium and legal advice from Proskauer Rose (London) and Norton Rose Fulbright (Munich). The transaction is subject to the usual closing conditions.

 

 

[1] The German financial regulator

Sep 07 2021

Categories: News

Tags:

Ohpen secures new financing for expansion

NPM Capital

NPM participation Ohpen, provider of a software-as-a-service (saas) platform for banks, insurers, investment companies, real estate investors and pension funds, has recently secured thirty million euros of new financing from Deutsche Bank. The growth capital will be used to continue expanding in markets such as the United Kingdom and to further develop the platform’s functionalities.

According to CFO Douwe Bijl, the new financing allows Ohpen to realise its strategic goal of becoming a prominent international player in the digitalisation of financial services. He notes that the global market for banking IT is estimated at some 300 billion dollars, and that existing financial institutions are investing heavily into the modernisation of their IT systems to meet the demands of clients, shareholders and regulators. “Thanks to this new round of financing, we will be able to push forward with our internationalisation, accelerate our innovation roadmap and conquer a larger share of this lucrative market”, Bijl said.

Ohpen previously strengthened its position through the acquisition of fintech company Davinci, the nomination of Leni Boeren as new Supervisory Board member, and by recruiting banking veteran Jerry Mulle as Ohpen UK’s Managing Director.

Read more: Digital banking services provider Ohpen selects Aspire Systems as implementation partner

Categories: News

Tags:

ProData Consult to acquire French emagine Group to create the leading European provider of high-end business and IT consultants

Axcel

Axcel has signed an agreement whereby ProData Consult partners with Paris-based emagine Group, gaining a strong foothold in France, Germany, and the United Kingdom.

ProData Consult, the leading Northern European talent-centric provider of high-end business and IT consultants, today announced that it is to acquire emagine Group that holds a strong market position in France, Germany, and United Kingdom. The transaction, facilitated by Axcel, is a significant milestone for ProData Consult in its aspiration to grow outside of the Nordics and will be the fourth acquisition ProData Consult undertakes in less than two years.

Utilizing its proprietary IT platform, ProData Consult offers its blue-chip clientele scalability and access to quality-assured high-end business consultants and IT professionals, both through its large network of local freelance consultants and its Nearshoring-as-a-Service delivered from three hubs in Poland.

“We are convinced that emagine is a perfect match for us in terms of enlarging our geographical reach, the IT platform synergies to be realized, and our corporate culture. emagine’s prominent positions in their key markets France, Germany, and the UK fits perfectly with our position in the Nordics and Poland. The enlarged reach will enable us to offer major domestic and international clients a fully integrated pan-European range of high-end, coherent IT consultancy services”, says Anders Gratte, CEO, ProData Consult.

ProData Consult, based in Copenhagen, reached EUR 202m in revenue in 2020 and employs 150 people. Servicing clients from 14 office locations in Europe and India, emagine Group achieved EUR 150m in revenue in 2020.

The double-digit organic growth ProData Consult has experienced in recent years is fuelled by the fact that digitalization is a top priority for most companies and their management teams in the Nordics and across Europe, according to Anders Gratte.

“Scalability and access to the most skilled IT resources in flexible, agile, and scalable models are more important than ever in the current unpredictable and fast-moving business environment,” says Anders Gratte.

 

emagine Group, headquartered in Paris, incorporates both consultancy and technical expertise in business, information technology, and engineering, providing clients with professional advice and expert skills to further develop and maintain their business performance.

Jean-François Bodin, CEO of emagine Group, said: “We are thrilled to join the ProData Consult team, a successful, fast-growing company with a strong IT platform, a great network, and impressive client portfolio. We are very similar to ProData Consult, and we share the same ambitions to deliver flawless services for IT and digitalization projects. We see great opportunities and look forward to developing synergies and expanding together”.

 

The private equity company Axcel announced their acquisition of ProData Consult on July 1st, 2021, and has facilitated the acquisition of emagine Group by ProData Consult as an important step in the aspiration to form a European IT consultancy powerhouse.

With an evident track record of growth, the ProData Consult management team has already done a great job of building a company in a prominent position in Northern Europe. We are very pleased to have facilitated this transformative acquisition of emagine Group. We believe that ProData Consult’s proprietary IT platform, competent organization and the continued market growth, driven by digitalization, will create a strong basis for further expansion, and we are excited about the potential we see ahead”, said Christian Bamberger Bro, Partner at Axcel.

 

Anders Gratte will continue as CEO of the combined businesses post-closing. Jean-François Bodin will remain part of management and play an instrumental role in the integration process of ProData Consult and emagine Group.

 

The acquisition of ProData Consult by Axcel closed in August 2021. The acquisition of emagine Group is subject to customary regulatory approvals in relevant jurisdictions and is expected to close in the third quarter of 2021.

 


About ProData Consult

Established in 1994, ProData Consult is a leading Northern European talent-centric provider of business and IT consultants. ProData Consult offers its customers time and material-based consultants through its freelancer network, Nearshoring-as-a-Service, and vendor management services. The company had close to EUR 200m in revenues (2020) and employs around 150 FTEs. In 2020, the company had more than 2,600 individual consultants working for some of the largest and most prestigious clients in Scandinavia and Poland. ProData Consult is headquartered in Copenhagen and has offices in Sweden, Norway, Poland, the Netherlands, and Germany.

About emagine Group

emagine Group provides clients with professional advice and expert skills to further develop and maintain their business performance. The focus is to maintain long-lasting relationships and look for ways to develop and deliver innovative technology and services to clients. The company had a revenue of EUR 150m in 2020, more than 1,150 individual consultants delivered projects in 24 countries. The company is headquartered in Paris and has offices in France, Germany, India, Ireland, and the United Kingdom.

 

About Axcel

Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies, with a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of over EUR 2.8 billion. These funds have made 61 platform investments with well over 100 add-on investments and 43 exits. Axcel currently owns 18 companies.

 

Further information:
Geelmyuden Kiese
Paul Svinth Jensen
Senior advisor
e-mail: paul.svinth.jensen@gknordic.com
Tel: +45 4083 3230

Categories: News

Tags: