18 November, 2020

Sandbäckens continues its profitable growth journey and strengthens its position in the Östergötland area through an additional acquisition, Trisec AB. The acquired company offers energy-efficient automation solutions for properties and industrial premises.

Trisec is based in Norrköping and employs 14 people, generating a turnover of c. SEK 25m. The company has a broad customer base consisting of property owners, real estate managers and industrial companies with a geographic footprint spread across Östergötland.

“I am very pleased to welcome Jonas Stenbäck and all co-workers to Sandbäckens. Trisec is a successful company with significant competence and experience of meeting customer demand for energy efficient solutions in different types of properties”, says André Roos, Head of Business Development and Head of region East.

For further information, please visit www.sandbackens.se or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

André Roos, Head of Business Development and Head of region East, Sandbäckens
+46 76 000 26 01, andre.roos@sandbackens.se

Paris, 18 November 2020

GP Bullhound acted as exclusive financial advisor to talent experience platform Easyrecrue, on its sale to iCIMS.

Easyrecrue, founded in 2013, is a European leader in video interviewing and digital assessment. Easyrecrue provides a talent experience platform to optimise the candidate and employee experience, from recruitment to internal mobility.

This acquisition triples iCIMS’ global footprint, now with more than 100 employees in EMEA, and extends the capabilities of the Talent Cloud, providing its user community of more than 330 million candidates and hiring professionals with an opportunity to leverage cutting-edge video interviewing technology and assessment capabilities.

“We’ve been really impressed by iCIMS’ market leadership, innovation, and ambition, and are very excited to join forces in our shared mission to bring to the world a simplified and improved candidate experience,” said Mickaël Cabrol, Founder and CEO of Easyrecrue, and now Managing Director of EMEA at iCIMS.

“Together, we’re providing global employers with the ability to quickly and digitally hire and engage with the world’s best talent. We are thrilled to have chosen GP Bullhound to accompany us on this journey. Their sector expertise, their dedication and their drive have been key in achieving a fantastic result.”

Guillaume Bonneton, Partner, and Joy Sioufi, Executive Director at GP Bullhound, commented: “We are delighted to have advised Easyrecrue on finding the right partner for the next stage of their journey, on their path to becoming a leading global player on the HR SaaS market.”

This transaction is further testament to GP Bullhound’s expertise in SaaS, with 12 deals completed in the last 12 months in the sector alone, having previously advised Allyo on its acquisition by Hirevue, Bridgepoint on the $160m investment in Sendinblue, and EcoVadis on the $200m investment from CVC Growth Partners, among many others.

User experience optimization platform has grown more than 3x in the last two years

SAN JOSE, Calif., Nov. 18, 2020 /PRNewswire/ — ControlUp, the industry-leading self-healing End-User Computing (EUC) solution enabling customers to monitor, troubleshoot, and remediate their EUC environments, today announced it has completed a $27 million Series C round of financing led by JVP and K1 Investment Management (“K1”), bringing total funding to $40 million. Since launching in 2014, ControlUp has supported business continuity for thousands of enterprises. The latest investment will enable the company to expand its platform and market presence to monitor and dynamically optimize user experience for the enormous growth in Work-From-Home deployments.

“As we look across the business sector over the last year, it is clear that every industry has been impacted. From healthcare and finance, to education and government, every industry has one clear goal: to identify and activate an agile workflow for their employees,” said Asaf Ganot, founder and CEO of ControlUp. “At ControlUp, we work to ensure that our 1,200+ worldwide enterprise customers have the resources and expertise needed to address IT management challenges, while simultaneously planning for the future. We are committed to providing the best solutions on the market to ensure companies are able to create sound workflows and achieve their overarching business goals, across an evolving array of work environments.”

The Series C financing follows major company milestones:

• Expanding the company’s client roster to B2C and B2B brands comprising more than 50 of the Fortune 100, including T-Mobile/Sprint, plus a host of others;
• Expanding the industry-leading platform to enhance its abilities as the most complete and unique platform for enterprise management of digital user experience;
• Growing the company employee base by more than 50% in 2020, employing 180 employees globally.

“ControlUp leads the next generation of performance automation of information systems, distributed among offices and endpoints, in any organization, anytime, anywhere, in a virtual or physical environment. It gives the organization a complete picture of its network performance,” says Erel Margalit, founder and chairman of JVP. “Through Artificial Intelligence the company enables learning of best practices in parallel networks and performance improvement in real time. We are proud of our partnership with Asaf Ganot and Yoni Avital, entrepreneurs who have built a significant company and are bringing Israeli excellence to the forefront of the world stage. They are on their way to building a leading global company.”

ControlUp’s AIOps platform gives organizations an end-to-end view of their end-user computing environments. With the lion’s share of the global workforce currently working outside the office, the intelligence provided by ControlUp is vital to providing an optimal user experience and ensuring productive work environments. At the heart of ControlUp’s solution is its proprietary machine learning-based Real-Time Engine, which connects to a multitude of data sources using flexible and expandable data collectors that cover a wide array of architectures and technologies. It uses a high-performance, in-memory database in order to digest, associate and correlate hundreds of thousands of records in a single node.

“K1 is excited to partner with JVP and the ControlUp team as they continue their impressive expansion in the end-user computing space,” said Hasan Askari, managing partner at K1. “ControlUp has a unique solution for managing technology environments for businesses that seek to improve the user and employee experience. Their approach is simple and accessible and solves the real-world problems that businesses need to succeed.”

About ControlUp
ControlUp enables ITOps teams to monitor, analyze and directly remediate problems in their on-premise, hybrid cloud and cloud infrastructure in real-time using a powerful yet easy-to-use ITOps analytics and management platform. ControlUp remediation also allows ITOps to proactively automate fixes for a rapidly-growing set of use cases. ControlUp analytics utilizes anonymous operational metadata from thousands of organizations to help ITOps calculate best-practice baselines to set accurate expectations and goals and set budgets appropriate for the implementation. ControlUp is headquartered in Silicon Valley with R&D in Israel and is backed by Jerusalem Venture Partners and K1 Investment Management. For more information, visit us at www.controlup.com.

About JVP
Jerusalem Venture Partners (JVP), founded and led by Dr. Erel Margalit, is an internationally renowned venture capital fund. JVP has to date raised $1.4 billion across 9 funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 140 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. JVP has been chosen by NYCEDC to lead the International Cyber Center in New York City. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ including CyberArk Software ($4.7 billion mkt. cap.), QLIK Technologies (then $4 billion mkt. cap.) and Cogent Communications ($3 billion mkt. cap.).

About K1 Investment Management
K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes, and invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 100 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies designed to assist portfolio companies scale efficiently. Since inception of the firm, K1 has partnered with over 130 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, Graduway, IronScales,  Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit k1capital.com or follow us at linkedin.com/company/k1im.

More Resources
ControlUp Raises Series B
ControlUp Announcements ControlUp Console for VMware Cloud on AWS

Revenue Delivery Platform leader backed by FTV Capital, Kindred, Notion and 83North

LONDON–(BUSINESS WIRE)–Paddle, the Revenue Delivery Platform for B2B Software-as-a-Service (SaaS) companies, today announces it has raised $68 million (£52 million) in Series C funding. The most recent investment was led by FTV Capital, a sector-focused growth equity investor in innovative companies in enterprise technology and services, financial services, payments and transaction processing, with participation from Kindred Capital, Notion Capital and 83North. This brings the total investment raised to date by Paddle to $93 million (£72 million). The funding will be used for continued expansion in the US and globally, as well as further investments in the company’s product, engineering, sales and marketing teams.

Paddle was founded in 2012 by British co-founders Christian Owens and Harrison Rose, with a vision of providing a complete solution to help software companies sell their products. The Paddle team has grown to 140 employees, and Paddle’s Revenue Delivery Platform today serves over 2,000 software companies in 245 countries and territories globally, empowering them to respond to every growth opportunity across customer acquisition, renewals and expansion.

Powerful market forces are reshaping the software industry, particularly the SaaS market, which is predicted to be worth over $105 billion in 2020. Many SaaS companies have seen demand surge during the Covid-19 pandemic as businesses and consumers became increasingly reliant on digital products and services. In fact, Paddle has seen sales by existing sellers accelerate during the pandemic, with particularly strong demand for software that supports distributed teams and collaboration, from VPNs to video calling.

However, SaaS companies are also facing unprecedented competition in an environment where they live or die by customer acquisition costs and their ability to maintain customer loyalty. They have the opportunity to compete and sell in any market in the world, but to do so must manage payments and operations in multiple markets, and navigate an increasingly complex web of international and local tax and data regulations.

As a result, scaling up is no longer just about focusing on building the right product and having the right go-to-market strategy. High-velocity SaaS companies are shifting their focus to a third powerful growth lever, Revenue Delivery, to drive hyper-scale growth by optimising Net Dollar Retention (NDR). Unfortunately, existing revenue delivery infrastructure isn’t ready for the scale and ambition of today’s software companies and businesses are stuck trying to force-fit integrations between legacy payment gateways, billing engines, subscription management tools, and multiple tax, compliance and data governance systems. This is a huge drain on time and resources that can severely limit SaaS companies’ ability to scale.

Paddle’s Revenue Delivery Platform makes it easy for SaaS companies to respond faster and more precisely to every growth opportunity for their business. A single unified platform, Paddle integrates checkout, payment, subscription management, and financial compliance; meaning sellers on the platform can activate new business models instantly, enter new markets with ease, turn on new offerings with one-click, and enable friction-free renewals. This modern approach to revenue delivery empowers CEOs to make informed business decisions quickly and confidently, and frees up teams to focus on the core business rather than operational headaches. Ultimately, using Paddle enables businesses to optimise NDR and deliver business impact that outperforms expectations.

Paddle has seen incredible demand to date, recording an average annual revenue growth of over 175% over the last four years and doubling in the last year alone.

Christian Owens, CEO and co-founder of Paddle, said:

“The beauty of the SaaS model is that if you build a great product, you can sell it to anyone, anywhere in the world. Unfortunately, it is rarely that simple. We created Paddle because we’ve seen first hand the things that limit the growth of a SaaS company often have very little to do with the quality of your product. Dealing with payments, managing subscriptions, localising checkouts in multiple languages and handling tax and compliance across dozens of markets is hugely complex and each of these challenges makes it harder for businesses to scale quickly. Our Revenue Delivery Platform has been built to remove all of this friction for B2B SaaS companies, empowering them to increase NDR by responding faster to every growth opportunity. We’re excited to continue our own growth with this investment and look forward to maintaining momentum in the months and years ahead.”

Kyle Griswold, partner, who led the investment for FTV Capital, added:

“We are witnessing a systemic shift within software, with the ‘growth at any cost’ mindset gradually being replaced by a realisation that businesses must scale more efficiently and with clearer purpose. We’ve been extremely impressed with Christian and Harrison’s ambition and Paddle’s growth to date and we believe they are defining a new category with Paddle’s Revenue Delivery Platform — one that will be critical to helping companies adapt to change while empowering them to take advantage of the huge acceleration in demand for digital products. With more than two decades investing in the SaaS and payments sectors, FTV will bring the best of our domain expertise to accelerate Paddle’s exciting growth.”

About Paddle
The Paddle Revenue Delivery Platform for B2B SaaS companies powers growth across acquisition, renewals and expansion. With Paddle, companies are finally able to transform their revenue delivery infrastructure into a strategic growth lever to respond faster and more precisely to every opportunity. Paddle has 140 talented employees serving over 2,000 software sellers in 245 countries and territories globally. Backed by investors including 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 FTV Capital
FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in more than 120 portfolio companies, including CloudFactory, Derivative Path, EBANX, Enfusion Systems, InvestCloud, Liberis, ReliaQuest, Riskalyze, Sunlight Financial, Sysnet, Tango Card, Vagaro, VPay and successfully exited companies including Empyrean Benefits (acquired by Securian Financial), ExlServices (IPO), Fleet One (acquired by WEX), Globant (NYSE IPO), Health Credit Services (acquired by Ally Financial), MedSynergies (acquired by Optum), Mu Sigma (acquired by shareholders), and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco and New York. For more information, please visit www.ftvcapital.com.

Back to all

Revenue Delivery Platform leader backed by FTV Capital, Kindred, Notion and 83North

LONDON–(BUSINESS WIRE)–Paddle, the Revenue Delivery Platform for B2B Software-as-a-Service (SaaS) companies, today announces it has raised $68 million (£52 million) in Series C funding. The most recent investment was led by FTV Capital, a sector-focused growth equity investor in innovative companies in enterprise technology and services, financial services, payments and transaction processing, with participation from Kindred Capital, Notion Capital and 83North. This brings the total investment raised to date by Paddle to $93 million (£72 million). The funding will be used for continued expansion in the US and globally, as well as further investments in the company’s product, engineering, sales and marketing teams.

Paddle was founded in 2012 by British co-founders Christian Owens and Harrison Rose, with a vision of providing a complete solution to help software companies sell their products. The Paddle team has grown to 140 employees, and Paddle’s Revenue Delivery Platform today serves over 2,000 software companies in 245 countries and territories globally, empowering them to respond to every growth opportunity across customer acquisition, renewals and expansion.

Powerful market forces are reshaping the software industry, particularly the SaaS market, which is predicted to be worth over $105 billion in 2020. Many SaaS companies have seen demand surge during the Covid-19 pandemic as businesses and consumers became increasingly reliant on digital products and services. In fact, Paddle has seen sales by existing sellers accelerate during the pandemic, with particularly strong demand for software that supports distributed teams and collaboration, from VPNs to video calling.

However, SaaS companies are also facing unprecedented competition in an environment where they live or die by customer acquisition costs and their ability to maintain customer loyalty. They have the opportunity to compete and sell in any market in the world, but to do so must manage payments and operations in multiple markets, and navigate an increasingly complex web of international and local tax and data regulations.

As a result, scaling up is no longer just about focusing on building the right product and having the right go-to-market strategy. High-velocity SaaS companies are shifting their focus to a third powerful growth lever, Revenue Delivery, to drive hyper-scale growth by optimising Net Dollar Retention (NDR). Unfortunately, existing revenue delivery infrastructure isn’t ready for the scale and ambition of today’s software companies and businesses are stuck trying to force-fit integrations between legacy payment gateways, billing engines, subscription management tools, and multiple tax, compliance and data governance systems. This is a huge drain on time and resources that can severely limit SaaS companies’ ability to scale.

Paddle’s Revenue Delivery Platform makes it easy for SaaS companies to respond faster and more precisely to every growth opportunity for their business. A single unified platform, Paddle integrates checkout, payment, subscription management, and financial compliance; meaning sellers on the platform can activate new business models instantly, enter new markets with ease, turn on new offerings with one-click, and enable friction-free renewals. This modern approach to revenue delivery empowers CEOs to make informed business decisions quickly and confidently, and frees up teams to focus on the core business rather than operational headaches. Ultimately, using Paddle enables businesses to optimise NDR and deliver business impact that outperforms expectations.

Paddle has seen incredible demand to date, recording an average annual revenue growth of over 175% over the last four years and doubling in the last year alone.

Christian Owens, CEO and co-founder of Paddle, said:

“The beauty of the SaaS model is that if you build a great product, you can sell it to anyone, anywhere in the world. Unfortunately, it is rarely that simple. We created Paddle because we’ve seen first hand the things that limit the growth of a SaaS company often have very little to do with the quality of your product. Dealing with payments, managing subscriptions, localising checkouts in multiple languages and handling tax and compliance across dozens of markets is hugely complex and each of these challenges makes it harder for businesses to scale quickly. Our Revenue Delivery Platform has been built to remove all of this friction for B2B SaaS companies, empowering them to increase NDR by responding faster to every growth opportunity. We’re excited to continue our own growth with this investment and look forward to maintaining momentum in the months and years ahead.”

Kyle Griswold, partner, who led the investment for FTV Capital, added:

“We are witnessing a systemic shift within software, with the ‘growth at any cost’ mindset gradually being replaced by a realisation that businesses must scale more efficiently and with clearer purpose. We’ve been extremely impressed with Christian and Harrison’s ambition and Paddle’s growth to date and we believe they are defining a new category with Paddle’s Revenue Delivery Platform — one that will be critical to helping companies adapt to change while empowering them to take advantage of the huge acceleration in demand for digital products. With more than two decades investing in the SaaS and payments sectors, FTV will bring the best of our domain expertise to accelerate Paddle’s exciting growth.”

About Paddle
The Paddle Revenue Delivery Platform for B2B SaaS companies powers growth across acquisition, renewals and expansion. With Paddle, companies are finally able to transform their revenue delivery infrastructure into a strategic growth lever to respond faster and more precisely to every opportunity. Paddle has 140 talented employees serving over 2,000 software sellers in 245 countries and territories globally. Backed by investors including 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 FTV Capital
FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in more than 120 portfolio companies, including CloudFactory, Derivative Path, EBANX, Enfusion Systems, InvestCloud, Liberis, ReliaQuest, Riskalyze, Sunlight Financial, Sysnet, Tango Card, Vagaro, VPay and successfully exited companies including Empyrean Benefits (acquired by Securian Financial), ExlServices (IPO), Fleet One (acquired by WEX), Globant (NYSE IPO), Health Credit Services (acquired by Ally Financial), MedSynergies (acquired by Optum), Mu Sigma (acquired by shareholders), and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco and New York. For more information, please visit www.ftvcapital.com.