GTreasury Announces $42 Million Growth Investment from Mainsail Partners

Mainsail partners

Investment to Accelerate Product Development and Fund International Expansion

LAKE ZURICH, IL, October 24, 2017 – GTreasury, a leading provider of Treasury Management Systems (TMS), today announced a $42 million investment from Mainsail Partners, a growth equity firm that exclusively invests in profitable, fast growing technology companies.  GTreasury will use the new capital and Mainsail’s extensive resources to accelerate product development, expand internationally, and enhance GTreasury’s customer service.

GTreasury was co-founded over thirty-one years ago by Orazio Pater, CEO, and his wife Peg, General Manager, and offers the longest tenured and holistically developed TMS in the industry. The company’s software suite includes its industry-leading Cash Management and Funds Transfer solutions which provide essential insights, automation, and tools to help large enterprises manage global liquidity.  The company also offers Accounting, Banking, and Financial Instruments solutions to help treasury departments automate accounting procedures, manage banking relationships, analyze bank fees, and manage investment and debt activity.  To facilitate these services, the company has direct connections with over 2,000 banks globally, and integrations with hundreds of ERP and 3rd party systems.

“We built our company by creating mission critical products and providing top tier service to our customers and partners,” said Mr. Pater.  “This partnership with Mainsail will allow us to double down on those efforts by accelerating innovation and delivering even greater value to treasury departments,” added Pater.  “We chose Mainsail for their experience scaling technology companies and because they share our vision for building a global business with a focused mission – build powerful software that provides greater visibility and control for corporate treasuries while never outgrowing the intimate client service experience that is necessary for companies to maximize value.  In Mainsail we were looking not just for additional financial resources, but also for a true long term partnership.”

“We see an opportunity to take an even greater leadership role in the market through innovation and expansion of our products and services,” adds Ashley Pater, Senior Vice President of Product Marketing.  “Our goal is to stay one step ahead of the needs of our clients and this investment will help us achieve that goal.”

Vinay Kashyap, Principal at Mainsail Partners, said, “Due to a number of factors, the role of the treasury department at enterprise corporations has become increasingly difficult and more important than ever.  Rapid globalization, economic volatility and changing regulations have added complexity for Treasurers, putting more pressure on their organizations” added Kashyap.  “The GTreasury team has built a suite of products that reduces the complexity and workload for treasury departments and allows them to focus on more strategic priorities.  Combined with a deep set of best practices and intellectual property from over 31 years in this business, the consultative and high-touch approach to their clients is second to none. We are excited to invest behind this high-quality management team and a company that is so well positioned in this rapidly evolving market.”

In connection with the growth equity investment from Mainsail, GTreasury recently announced the opening of its first international office, in London, to support global expansion and its existing multinational customer base.


About GTreasury

Originated in 1986, GTreasury is the global leader of treasury management solutions for organizations spanning the world. GTreasury’s solution illuminates a treasury’s liquidity by centralizing all incoming and outgoing banking activities, along with tracking all financial instrument activities. This gives GTreasury practitioners real-time insight and access into their global liquidity. GTreasury is the only company that offers both an installed and a SaaS solution using the same version of the system.  Our modular platform and infrastructure allow any size treasury operation the ability to customize a solution that is best suited to their needs. For more information please contact or visit


About Mainsail Partners
Mainsail Partners is a growth equity firm that invests exclusively in bootstrapped software companies. The San Francisco-based firm has a team of experienced operating professionals to help entrepreneurs scale their businesses and accelerate growth. The firm has raised more than $750 million in committed capital. For further information, please visit

Categories: News


Latour acquires NODA, a leading Swedish software company in energy efficiency

Latour logo

Investment AB Latour (publ) has, through its subsidiary Bemsiq, signed an agreement to acquire all shares in NODA Intelligent Systems AB, a leading Swedish software company in system-wide energy optimization for district heating grids and intelligent heat control for residential buildings. Bemsiq made its first investment in NODA in October 2015, and owned 29 per cent of the shares in the company prior to today’s transaction. The sellers are, among others, the Sixth Swedish National Pension Fund and the founders. Closing will take place immediately.

NODA has its head office in Karlshamn, Sweden, and is active in the European market, with focus on Sweden, Poland, Germany, France and the United Kingdom. The company develops and provides the product Smart Heat Grid, which is an advanced system to reduce peak loads and balance the load profile in district heating networks. The company’s second product, Smart Heat Building, employs a self-learning and adaptive model to reduce both energy consumption and power need in buildings. NODA has 15 employees and net sales in 2016 amounted to SEK 5 m, where a majority is recurring license fees.

“I am very happy that NODA will become a wholly owned company in Bemsiq and Latour. It opens new and exciting opportunities for deepened collaboration with the other Bemsiq companies, especially in product development and international sales”, says Patrick Isacson, CEO of NODA. “NODA will now have a long-term owner and better possibilities to expand our business in the European market.”

“NODA is an exciting company with a high technology level and a market leading position in digitalization of district heating grids. We are especially impressed by their leading role in three projects within Horizon 2020, the EU Framework Programme for Research and Innovation”, says Pär Arvidsson, CEO of Bemsiq.

Göteborg, October 11, 2017


Jan Svensson, CEO

For further information, please contact:
Pär Arvidsson, CEO, Bemsiq AB, +46 70 324 72 53

Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 49 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 8 billion in 2016.


ALMI Invest in Videquus monitoring system for horses

Almi Invest

Almi Invest invests one million crowns in Skovde based Videquus, developing an intelligent monitoring system for horses.

The company has since last spring brought in a total of 3.5 million, also from Nudie founder Palle Stenberg and Skaraborg Invest. The money will go to the final development and market launch of the service.

There are now about 360,000 horses in Sweden, where the horse industry has sales of over 47 billion. Horses standing unattended in the stall 8-10 hours a night, and if the horse gets sick or injured, it can cause unnecessary suffering and great expense if not detected in time.

Videquus vision is to bring the latest technology to the stables to make horse ownership safer, more fun and more economically by offering an intelligent monitoring system for unattended horses. The system is based on a surveillance camera as the image recognition, machine learning and sensors can detect abnormal behavior and health of the horse, and sound the alarm if something happens.

– Videquus create the smart stables by combining IoT technology with machine learning for a practical application where there is a great need, says Christian Björkman, Investment Manager at Almi Invest. Videquus technology is at the forefront when it comes to monitoring the horses and we see good opportunities to expand in several areas.

The company was founded in 2016 in Flyinge and presented a first version of its solution to the Gothenburg Horse Show for more than a year ago.

– With the capital and the expertise we received from our investors, we are now positioned to further develop our platform so that we can launch it on the market fully, says Videquus CEO Linus Jernbom.

Launch of Videquus platform takes place on two occasions in February 2018, and at the Gothenburg Horse Show, and at Axevalla trotting.

Categories: News


Almi Invest invests in Crossers real-time analysis

Almi Invest

Almi Invest invests SEK 3.5 million in Sundsvall company Crosser Technologies, which is developing a Fog Computing software for real-time data analysis.

The total financing round of EUR 13.5 million, which also Spintop, Norrland Fund and ALMI involved. The money will be used to further the development and launch of the product.

As more objects are connected to the Internet, Internet of Things (IoT) requires large infrastructures to handle all the data and then it is not rational to store everything in the cloud. The solution to this is Fog Computing, which serves as an intermediate layer between the sensors and cloud services.

Crossers software analyze streaming data in real time and determine what should be analyzed, filtered and passed on, for example, for storage and calculations in the cloud. This results in dramatically reduced costs for cloud services and bandwidth.

– Crosser is early in a hot industry. They have, thanks to a forward-looking technology and the right team chance to define a new market, says Mats Håkansson, Investment Manager at Almi Invest.

The target group for Crosser’s manufacturing industries as machine and equipment manufacturers, vehicle manufacturers and energy companies where IoT is becoming increasingly common.

Crossers technology provides an easy management of sensor-generated data and creates the opportunity to act within milliseconds of business-critical events world över.Crosser can be used in many different areas such as industrial IoT, distribution and logistics management, health care, smart homes and smart cities.

– The core of our real-time server has been developed since 2009, says Crossers CEO Martin Thunman. So when we started Crosser was basically already finished, which enabled us to go to market very quickly. This funding will allow us to build on the team and invest in sales and marketing.

Categories: News


Crosser Technologies AB secures €1.4 million in seed funding

Spintop Ventures

Pioneers in real-time technologies raises capital to launch its Intelligent Edge Computing software for Industrial IoT.

Sundsvall/Stockholm, Sweden, October 9, 2017 — Crosser Technologies AB, a leader in Intelligent Edge Computing software (or “Fog Computing”) for industrial and enterprise IoT, announces today that it has raised €1.4 million in Seed capital led by Spintop Ventures with Almi Invest and Norrlandsfonden as co-investors in the round.

Crosser’s software acts as an on-site middle-layer between sensors and cloud services, analysing the streaming data in real-time and enabling large cost savings and real-time local actions for time-sensitive applications. It is designed to collect all the data from sensors
or operational technology (OT) machine data in real-time, analyse the data in milliseconds, aggregate, lter, enhance and take actions on the data in a distributed way. It is typically installed on a factory oor server or IoT Gateways and can also be embedded in equipment, machines or vehicles.

”The core real-time engine has been in development for several years by Ulf Björklund, our Head of R&D and co-founder”, said Crosser CEO and co-founder Martin Thunman. ”When we started Crosser we had the foundation already built which has enabled us to bring a product to market in a very short time. The funding will allow us to expand the team and to invest in sales and marketing”.

”The opportunities for industrial companies to embrace IoT to leverage data analytics for competitive advantages are huge.In many scenarios it will require distributed and intelligent edge computing” said Finn Persson, Partner at Spintop Ventures.
“The combination of a very large market opportunity, Crosser’s technology and the expertise and track-record of the founders make us very excited to lead the seed round in the company”.

Crosser’s solution includes a cloud-based management platform with a drag ‘n drop Flow Studio for easy set-up and over-the-air con guration and software updates. It also comes with a library of pre-built adapters and connectors for sensor data, industrial protocols, enterprise data sources and applications, cloud apps and cloud services.

Crosser has several deployments in various industries. As an example can be mentioned the data coordination for a supply and eet management system for Sweden’s largest forestry industry. Which was implemented and customized in partnership with one of Europe’s leading software integrators. Crosser’s partnership model has gained great traction, and there are s”ome major industry projects in the pipeline.

”An Industrial IoT project is not a stand-alone initiative. Besides collecting the sensor data it is also an integration project. It is when the sensor data is combined with other enterprise data that the full value is extracted.” said Martin Thunman. “Our objective is to make it very simple to collect, analyze and integrate the streaming data. All in the edge, managed by a cloud-based platform.”

About Crosser Technologies
Crosser designs and develops intelligent edge computing software for industrial and enterprise IoT applications.
The Crosser Fog Computing solution o oads the Cloud services, provides real-time analytic and decision making capabilities close to IoT sensors and IoT devices. This sub- stantially reduces Cloud services cost and bandwidth costs and gives a sub millisecond response time on data streams for real-time local actions. The software is ideally suited for Enterprise customers in a variety of industries and applications including Industrial IoT, Supply Chain, Healthcare, Smart Building and Smart Cities.

About Spintop Ventures
Founded in 2009, Spintop Ventures is a venture capital rm with a senior team backed by a network of successful tech entrepreneurs who have invested in Spintop alongside institutional investors family o ces and experienced private investors.

About Almi Invest
Almi Invest is Sweden’s most active startup investor. Almi Invest manages a total equity of SEK 3 billion and has since start invested in about 600 startups. Our best holdings have been divested to major industry players such as Google, Apple, Microsoft and Qlik or through successful IPOs such as Tobii and MIPS. Almi Invest is a Venture Capital company within the Almi Group.

About Norrlandsfonden

Norrlandsfonden is a trust fund that works to promote the development of companies with ambitions for growth in the counties of Norrbotten, Vasterbotten, Vasternorrland, Jamtland and Gavleborg in northern Sweden.

Crosser Media Folder (DropBox)
Contains resent pressreleases, team images, logos and product images.

Gimv-backed Luciad acquired by Hexagon


Luciad, a leading provider of high performance geospatial situational awareness technology that powers the world’s mission critical operations, today announces that it has been acquired by Hexagon AB, a global provider of information technologies that drives productivity and quality across geospatial and industrial enterprise applications.

Luciad ( was founded in 1999 as a spin-off from the University KU Leuven. Luciad’s applications simplify the lives of developers and end users with advanced visual analytics that allow them to unlock the potential of real time location intelligence and create the foundation for next generation geospatial systems. From safeguarding critical assets to creating the digital infrastructure for smart cities, Luciad helps users implement intuitive command and control systems. Its customers depend on the company for high performance visualization that allows them to implement scalable solutions. Today, the company serves clients worldwide through a network of subsidiaries and resellers in Europe, Asia and the Americas. In addition, major systems integrators incorporate Luciad’s software in their own products. Airbus Defence & Space, Boeing, Dassault, Lufthansa Systems, NATO and Unifly belong to the company’s customers.

Gimv, together with co-investor Gimv Arkiv Tech Fund II and the other shareholders today sold their stake in Luciad to the Swedish-headquartered Hexagon (Nasdaq Stockholm: HEXA B), which generates revenues of EUR 3.2 billion with 18.000 employees. Luciad will become a fully owned subsidiary of Hexagon and will operate under its Geospatial division. The company’s products perfectly combine with the offering from Hexagon. Therefore, we see Hexagon as the right partner to unlock the full potential of Luciad’s technology.

Since Gimv’s initial investment in spring 2013, the company’s references and proof concepts for big data applications have contributed to the strategic value of the technology. Over the past years, the company’s products evolved significantly, being from desktop only to web based, into 3D. Moreover, server capacity was added to its offering.

Gimv has given us the platform we needed to evolve from startup to scale-up. During the 4 years that we were part of Gimv’s portfolio, the organization has grown significantly without experiencing the growth pains that characterize this coming into adulthood for companies,” said Marc Melviez, CEO of Luciad.

Tom Van de Voorde, Head of Gimv‘s Smart Industries platform and board member of Luciad comments: “We are delighted to have found a harbor for Luciad that will be stimulating and synergetic beyond the current standalone potential. Hexagon’s clients will benefit from Luciad’s world class geospatial software allowing them to use geospatial data in making excellent business decisions. During our investment period within Luciad, we have seen Luciad evolve from a timid software player to the leading player in its field thanks to excellent new product releases and hard work of the Luciad employees to establish Luciad as a brand of excellence in some of its verticals. Hexagon understood and experienced Luciad’s power resulting in this transaction.”

Luciad was the first investment of the Smart Industries team after the lauch of Gimv’s platform strategy back in late 2012. Over the entire holding period, the investment in Luciad generated a return well above Gimv’s long-term average return, with a positive impact on the equity value at 30 June 2017 of about EUR 0.75 per Gimv-share. No further details about this transaction will be disclosed.

Categories: News


Funds advised by Apax Partners complete acquisition of 3M’s Electronic Monitoring Business

3 October 2017

New York and London, 3 October 2017 – Further to the announcement on 1 June 2017, funds advised by Apax Partners (“Apax Funds”) have today announced that the acquisition of 3M’s electronic monitoring business (the “Company”) has been completed.

The Company will be rebranded as Attenti and has appointed Boaz Raviv as its new CEO. Mr. Raviv, the former CEO of Radvision, is an experienced executive of global businesses in the technology industry.

The Company will continue to be a provider of reliable, innovative and scalable electronic people-monitoring technologies, serving hundreds of correctional and law enforcement agencies in 34 countries. Attenti offers a differentiated full range of Global Positioning Systems (“GPS”), Radio Frequency (“RF”), alcohol verification monitoring and tracking solutions, supported by an integrated software monitoring platform.

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 30-year history, Apax Partners has raised and advised funds with aggregate commitments in excess of $48 billion*. The Apax Funds invest in companies across four global sectors of Tech and Telco, Services, Healthcare, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies.

The Apax Funds have been a leading private equity investor in the Tech & Teleco and Services sectors, having invested over $11.8 billion** in equity since 2008. Apax’s deep sector expertise and global resources have helped accelerate organic and inorganic growth within its portfolio and have enabled geographic expansion. Current and past investments include GardaWorld, Epicor, Activant, TriZetto, Aptos, Exact and Sophos. For further information about Apax Partners, please visit

*Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at 30 June 2017.

** Tech & Telco and Services investments, inclusive of investments signed but not yet closed.

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Categories: News


ALMI Invest error handling in automatic

Almi Invest

Almi Invest invests one million crowns in Falun 1TCompany The company, which has developed a cloud-based service for automatic error handling in applications.

In the issue of a total of two million is also participating the privately owned regional venture capital company Dalecarlia Growth. The investment will be used to market the service.

1TCompany, founded in 2017, develops tjänstenCodeRR that automates error handling for applications based on Microsoft’s popular .NET platform.

– With CodeRR increases quality and avoids manual error handling, saving time, resources, and reduces the risk of lost revenue, says Håkan Alfon, investment manager at Almi Invest.Med already thousands of downloads we think CodeRR is ready for the next step, and commercial launch. We look forward to be part of that journey.

Today, corrected errors generated by IT applications manually by the developer goes through the program to try to identify the error, which is a time consuming job. CodeRR detect errors, analyzes and can provide suggestions for actions automatically. The error handling is faster because CodeRR specify where and how it went wrong in the code.

– After many years as a developer, I know that it spends several hours to find and analyze errors that occurred. That’s how I got the idea to create a tool that automates the management of errors so that I can focus on better solution quality, says Jonas Gauffin, founder of 1TCompany.

CodeRR launched as open source by the end of last year and is already available for free download and evaluation. 1TCompany are now ready to launch the service with extended functionality ready for operation environments.

Categories: News


IFS acquires WorkWave


Based in New Jersey, USA, WorkWave’s software seamlessly integrates back office, field operations and front-end marketing solutions, enabling businesses to streamline tasks such as scheduling, planning and billing, productivity, automate marketing and sales activities.

When EQT VII acquired IFS in 2015, the ambition was to further accelerate an already strong growth through selective investments in IFS’ focus verticals. With the acquisition of WorkWave, IFS is increasing its global leadership within Field Service Management and is further expanding its North American footprint, making America IFS’ largest geographical region.

“The management team, led by CEO Alastair Sorbie, does an impressive job strengthening IFS’ leadership positions in the verticals it serves. Following the acquisition of Mxi within the IFS aviation and defense segment, WorkWave is an important milestone in realizing IFS’ global field service management and cloud strategy. The growth path that IFS has embarked on is remarkable and it is another great example of EQT’s ambition to future proof its portfolio companies”, says Per Franzén, Partner at EQT Partners, Investment Advisor to EQT VII.

Read IFS’ full press release here.

Categories: News


Almi Invest invests in Applied Group

Almi Invest

Almi Invest invests SEK 1.6 million in Sundsvall company AppliedGroup Nordic, which develops a cloud-based customer loyalty programs for online merchants.

In the issue of a total of over three million is also participating Savings Bank Foundation and private sector investors. The money will go to the development and marketing for the launch of its service in October.

With AppliedGroups service called Penguin (formerly Applied Loyalty), e-retailers flexibly design their own loyalty programs. The system collects data about customers’ interests and buying habits, in order to offer benefits and discounts specifically tailored for each customer.

The system also rewards e-commerce customer engagement in social media. A customer, such as parts or like Facebook Posts from an e-retailers will be rewarded. What kind of reward given is up to the individual e-retailer.

– Customer loyalty is key to e-retailers, says Mats Håkansson, Investment Manager at Almi Invest. AppliedGroup offers a concept of the end customer’s perspective in mind and we believe that this responds to a wide customer needs.

The underlying need for AppliedGroups service is increased sales and improved margins for e-retailers, primarily through increased frequency of repeat purchases from customers. The service was developed in cooperation with a major e-retailers, with positive results. In October, it’s time for a broader rollout.

– With this investment we will be able to carry a full introduction to the market and get the show in black and white what great benefit traders get out of our service, says Johan Wikström, President of AppliedGroup.

Categories: News