Tag Archives: Information technology

Stirling Square Capital Partners’ Fourth Fund Invests in DOCU Nordic in Partnership with TA Associates

TA associates

London – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announced an additional investment in portfolio company DOCU Nordic Group Holdings AB (“DOCU Nordic” or the “Company”) in partnership with TA Associates, a leading global growth private equity firm.

TA Associates will acquire a significant minority stake in the Company from Stirling Square’s Third Fund alongside Stirling Square’s Fourth Fund, which becomes the majority shareholder in DOCU Nordic.

Headquartered in Ljusdal, Sweden, DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.

During Stirling Square’s Third Fund’s ownership, DOCU Nordic substantially developed its product offerings and capabilities while expanding its geographic reach. The Company recently announced the acquisition of Vortal in Portugal, which will add strategic e-tendering capabilities and a presence in Iberia. The new investment is the latest step in DOCU Nordic’s aim to create the leading construction technology and construction management eco-system in Europe, with significant opportunity for future buy-and-build activity.

Henrik Lif, Partner of Stirling Square, commented, “We believe that DOCU Nordic is an outstanding business that provides business critical and high-value services to a broad customer base. We are delighted to continue our investment journey with the Company in partnership with TA Associates. DOCU Nordic has demonstrated industry leading innovation in the construction, real estate and healthcare sectors. With the recent acquisition of Vortal in Portugal, the Company takes a further step geographically with the leading public e-tendering platform in Southern Europe. We look forward to continuing our work with senior management on organic growth and buy-and-build opportunities across Europe.”

Naveen Wadhera, Managing Director of TA Associates, said, “Given our focus on partnering with market leading, profitable and growing businesses, DOCU Nordic offers a compelling investment opportunity for TA. We see particular opportunity to help accelerate the Company’s growth and to expand both product offerings and geographic reach through accretive acquisitions. We are excited to partner with Stirling Square and DOCU Nordic’s management team to help build additional value for the Company.”

Stefan Lindqvist, CEO of DOCU Nordic, added, “We are delighted to have the opportunity to further build on the past three years of partnership with Stirling Square, and we welcome TA Associates, an experienced global investor in the technology sector, as a new partner. We look forward to working closely with both owners as we open a new chapter in DOCU Nordic’s success story.”

Mr. Henrik Lif, Mr. Ben Hopper and Mr Raphael Mukomilow of Stirling Square and Mr. Naveen Wadhera and Mr. Max Cancre of TA Associates will serve on the DOCU Nordic Board of Directors.

About Stirling Square Capital Partners
Stirling Square Capital Partners was established in 2002 as a pan-European private equity firm to pursue transformational change investments in mid-market companies with enterprise values of between €50 million and €500 million. The firm manages €2.5 billion across three active funds on behalf of a global and diverse investor base.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About DOCU Nordic
DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.

 

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AddSecure confirms acquisition of Dualtech IT

Castik Capital

17.09.2020

Through the deal, European customers will benefit from future-proof, secure and reliable end-to-end solutions. This is of particular importance in view of the forthcoming technological shift and the new alarm transmission EU standard 50136-3 required by 2021.

AddSecure, a leading European provider of premium solutions for secure data and critical communications, has completed an agreement to acquire Dualtech IT AB, a leading supplier of secure IP based alarm communication terminals and innovative services, to strengthen its Smart Alarms’ portfolio, expertise, and market coverage in Europe.

“We are delighted to have reached agreement with a company that has demonstrated consistent innovation and dedication to their customers over a long period of time”, says Stefan Albertsson, CEO of AddSecure.

Dualtech’s experience of digitization is of particular importance with the forthcoming technology shift, i.e. the closing down of 2G and 3G networks that is taking place throughout Europe.

“As the technology shift will take place across Europe, there will be a large number of customers with similar needs around Europe. Dualtech’s platform and experience in the field are therefore of great value to AddSecure”, Albertsson continues.

By combining offerings the companies are also well positioned considering the new alarm transmission EU standard 50136-3 required by 2021, which stipulates that an alarm system must be tested end-to-end, and will be will be able to provide European customers with future-proof, secure and reliable end-to-end solutions.

Dualtech will be part of AddSecure, and the product portfolio will coexist together with  AddSecure’s existing Smart Alarms offering. Future offerings will combine the innovative solutions from both portfolios. The Dualtech founders and staff will continue to drive and grow the market and Dualtech’s solutions portfolio.

“This transaction provides Dualtech customers with an excellent outcome in terms of their ability to access the latest technology and solutions available. It also provides an exciting future for our staff with an expansive growth company”, says Anders Johansson, Managing Director of Dualtech.

Dualtech has customers in over 20 countries around the world, and has delivered over 250 000 secure alarm communications products.

For more information, please contact:

Kristina Grandin, Corporate Marketing Manager, AddSecure
Mobile: +46 70 689 52 08, kristina.grandin@addsecure.com

About AddSecure

AddSecure is a leading European provider of premium solutions for secure data and critical communications. The company serves over 50 000 business customers and partners around Europe with secure communications and solutions that help customers safeguard their life- and business-critical applications. This helps save lives, protect property and vital societal functions, and drive business.

AddSecure serves customers in the security and safety industry, in building security and automation, in digital care, in transport and logistics, in utilities and smart cities, and more. Customers are provided with solutions within Smart Alarms, Smart Care, Smart Grids, Smart Rescue, and Smart Transport.

The company, founded in the early 1970s, today employs more than 750 staff in 15 countries. AddSecure is headquartered in Sweden, and has regional offices as well as a network of distributors around Europe.
AddSecure is majority-owned by Funds managed by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.

About Dualtech IT

Dualtech IT AB, founded 1999, is a leading supplier of secure and cost-efficient alarm communications solutions. The company provides secure IP based alarm communication terminals and innovative services, and is an appreciated and well-renowned business and technology development partner to leading security industry companies all over Europe.

Dualtech focuses on the ongoing transformation of the security industry to new business models under the umbrella Security as a Service, and has long experience and great knowledge of what the digitalization and transformation means to business

Dualtech has customers in over 20 countries around the world, and has delivered over 250 000 secure alarm communications products.

The company has its head office in Gothenburg, Sweden, a sales office in Stockholm, Sweden as well as a subsidiary office in Paris, France.

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ECI announce investment in predictive analytics software business Mobysoft

ECI

ECI Partners, the leading growth-focused mid-market private equity firm, has invested in Mobysoft, a Manchester-based predictive analytics software provider to the social housing sector.

The partnership will support Mobysoft’s continued growth as it expands its predictive analytics product suite and continues to invest in people.

Mobysoft’s flagship product, Rentsense, processes payment patterns for more than 1.7m social housing properties each week. The software uses cloud-based predictive analytics to provide recommendations and optimise workflows for over 140 social housing providers. Customers use RentSense to reduce income officer workload and ensure tenants are receiving the support they need.

Alexander Karle, CEO of Mobysoft said: “We are delighted to partner with ECI to deliver future growth for the business and further support social housing providers and their tenants. For Mobysoft and our customers, this partnership means that we will accelerate investment into new products and services while continuing to strengthen our existing products. ECI has a strong track record supporting fast-growing software businesses and we are excited about the opportunity ahead.”

Derek Steele, Founder and Chief Innovation Officer at Mobysoft said: “The next phase of investment with ECI will further strengthen our products and organisation. We will further expand our team and invest in predictive analytics solutions that support social housing providers in delivering efficiencies and providing services to the communities they serve.”

Stephen Roberts, Investment Director at ECI, said: “We are delighted to be partnering with Alex, Derek and the team. Mobysoft is a market leading software business at an exciting stage of its development, led by an ambitious and high-calibre management team. We are looking forward to working with the business to help deliver the next phase of growth.”

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Main Capital acquires majority stake in German E-Government Software Specialist MACH AG

Main Capital

Düsseldorf, September 15, 2020 – Software investor Main Capital acquires a majority stake in Lübeck-based MACH AG, a market leading software vendor for the German government sector with EUR 44m in revenues and more than 400 employees. The founding family Müller-Ontjes remains on board as active owner. With its comprehensive product portfolio and deep sector expertise, MACH is a frontrunner in providing digital services and solutions to German governmental bodies. Joining forces with Main will allow MACH to profit from Main’s long-standing expertise in the government software market and further leverage its sector expertise.

MACH was founded in 1985 and has since then build up extensive knowledge and an entrenched market position in the highly attractive German government sector, exhibiting significant market entry barriers. From its six German offices and with more than 400 employees, the company serves 10,000+ public institutions in Germany. MACH provides its solutions to all government levels (federal, state, and municipality), educational and research institutions as well as churches and welfare organizations, serving notable customers such as the Bundesverwaltungsamt (federal administration office), the federal police and various federal states (e.g. Saarland, Rheinland-Pfalz, Thüringen).

MACH provides a comprehensive solution and service portfolio that allows its clients to digitize their key administrative and financial processes. The core solution is a financial management module which is compliant with all relevant accounting systems used in the German public sector. Currently, more than half of the payments at federal state level are supported by MACH’s financial management solution and the company’s clients regularly cite MACH’s stringent focus on requirements of public administrations as a key advantage over more generalist software offerings.

To herald the next growth phase, a joint strategy will focus on extending the company’s product and technology offering while further expanding its vertical coverage with organic as well as inorganic initiatives. This will be crucial to position the company for the new market dynamics following from recent regulatory initiatives introduced by the German government such as the Online Access Act.

With investments in Exxellence group (public sector, Netherlands), SDB group and Alfa, (healthcare in Netherlands and Sweden) the investment in MACH AG in the German public sector is considered as strategic by Main.

Sven van Berge Henegouwen, Partner in Germany, states: “Since 2016, we have been in regular contact with MACH and are very pleased that the company has opted for Main Capital as their strategic partner to initiate a new growth chapter. We are convinced that together we will succeed in further expanding the pivotal role that MACH already plays in the digitization of the public administration in Germany. Our goal is to assist MACH in becoming the leading digitization partner for the public sector.”

Rolf Sahre, CEO of MACH AG, adds: ” Current topics such as the German government’s economic stimulus package, the implementation of the Online Access Act and future-oriented topics such as Smart City and Artificial Intelligence offer great opportunities to continue MACH’s growth path. After a thorough selection process, we have chosen Main Capital Partners as one of the leading investors in the B2B software sector in Northwest Europe. In addition to the valuable industry experience, we were convinced by Main’s long-term investment approach, which is based on a partnership with the founders and the management team as well as MACH’s continued independence. Partnering with Main will allow us to leverage our full potential and improve our innovative strength to continuously support the public administration as a strong and reliable partner.”

About MACH AG

Digitization of paper files, more transparency in the financial budget or modern personnel processes – MACH AG has been supporting public administrations in digitization projects since 1985. With deep sector know-how and our own software, we strengthen our customers in the long-term – and thus Germany. More than 100,000 users in federal and state authorities, church administrations, educational and research institutions and NGOs rely on our solutions on a daily basis. These institutions benefit from our holistic approach because MACH provides a one-stop solution for software, consulting and execution. Further information is available at www.mach.de.

About Main Capital Partners

Main Capital Partners is a strategic investor with an exclusive focus on the software sector in the Benelux, DACH and Nordics regions. Main has a long-term investment horizon centered around successful partnerships with management teams, with the goal to jointly build larger software groups. Main has approximately € 1 billion in assets under management for investments in mature and growing software companies.

The current portfolio of Main Capital includes rapidly growing software- and SaaS software companies like Alfa (healthcare), WoodWing (content management), Exxellence Groep (public sector), Optimizers (supply chain software), Assessio (talent management), GBTEC (GRC software), Onventis (procurement software), HYPE Innovation (enterprise innovation software), Cleversoft (Regtech software), Enovation (healthcare), SDB Groep (healthcare), Jobrouter (BPM software), GOconnectIT (GIS software), Inergy (business intelligence), MUIS Software (bookkeeping and ERP software), Artegic (marketing automation), OBI4wan (CRM software), b+m Informatik (financial services software), ChainPoint (suppy chain software) and RVC (healthcare). Successful former companies that have grown substantially under the guidance of Main are: Connexys (HR software), Roxit (public sector), Axxerion (facility management software) and Ymor (APM software). More information at www.main.nl

 

Contact Main Capital Netherlands
Charly Zwemstra (Managing Partner)
Tel: +31 (0) 70 324 3433 / +31 (0) 6 5127 7805
e-mail: charly@main.nl

Contact Main Capital DACH
Sven van Berge Henegouwen (Partner)
Tel: +49 173 4823712
e-mail: sven@mainsoftware.de

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BGF achieves three successful exits in six months

BGF

BGF’s North West Investment team is celebrating a strong run of investment activity over the last six months. Since March, it has completed two multi-million pound deals and three exits, returning £80 million from £40 million invested.

Last month, BGF successfully exited a subsidiary of Hobs Group when e-discovery business, Anexsys was acquired by US PE-backed Xact Data Discovery (XDD). BGF invested in Liverpool-headquartered Hobs Group back in 2014. Anexsys revenues grew by 250 per cent in this period, with EBITDA rising from zero to £2.5 million at the point of sale.   

This deal follows BGF’s exit from vehicle manufacturer Woodall Nicholson in April, which generated a 2.5x return. BGF backed the business in 2016 with funding supporting the business’ product development and acquisition strategy. Woodall Nicholson grew three-fold in four years and during this time the business made four acquisitions, which accelerated international expansion and broadened its market reach.  

BGF also exited web hosting company, Miss Group in February 2020. Revenues rose from £8 million to £25 million in the 18-month investment period with EBITDA of £11 million at the time of exit. The deal delivered an IRR of more than 100 per cent for BGF.  

Neil Inskip, head of BGF’s North West team, said: “This trio of exits demonstrates the strength and flexibility of BGF’s model. We backed three North West businesses at different stages of their evolution and from a range of sectors. We have facilitated several acquisitions, built out well-rounded management teams and expanded internationally. All three companies have proven to be fantastic investments, delivering excellent returns for all shareholders. 

“The average investment hold period was 3.5 years, and ranged from 18 months to nearly six years, facilitated by our investment model. Our flexibility has also allowed us to retain an investment in two of these businesses, providing future upside potential.” 

BGF has also announced two new investments in the region as it continues to support the economy in uncertain times. Lead generation technology company, ROI received £3 million to accelerate its UK and European expansion. Miss Group CEO, Mattias Kaneteg and Non-Executive Chair, Phil Male both join the ROI board. 

A Wilderness Way (AWW), a provider of specialist residential childcare and crisis intervention services, also secured backing from BGF. Fiona Lowry was appointed as Non-Executive Chair, having founded and sold several successful businesses in the healthcare sector, including The Good Care Group, a former BGF portfolio company. 

Neil Inskip added: “Our recent investments clearly show the long-term value creation and the strength of the network we’re building with the appointment of two non-executive chairs from businesses we’ve already had successful exits from. 

“The past six months have been a testing time for most entrepreneurs, but we have seen impressive resilience and reinvention from the businesses we work with. It has also been a time for entrepreneurs to take stock of their long-term goals. Our combination of flexible capital and access to experienced Non-Executive Directors through our Talent Network means we’re perfectly placed to support the ambitious business leaders driving the growth economy – even against the most challenging backdrop.” 

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Combination of Revint and Triage joins subject matter expertise with rapidly growing technology platform creating comprehensive Revenue Integrity and Underpayment Solution

New Mountain Capital

Revint’s merger with Triage Consulting Group extends a commitment to delivering deep industry knowledge with technology-enabled solutions 

 ATLANTA, GA – Revint Solutions, a leader in technology-enabled revenue integrity solutions for healthcare providers, announced the execution of a definitive agreement to merge with Triage Consulting Group, one of the nation’s premier healthcare revenue integrity companies. The combined organization will deliver the most comprehensive revenue integrity services and technology platform in the healthcare industry.

“Together, these two companies will deliver a revenue integrity solution unlike any other in the industry, combining advanced technology with deep subject matter expertise,” commented Lee Rivas, Chief Executive Officer of Revint. “With health systems losing billions of dollars annually in unrecovered reimbursement, it is our mission and purpose to work with our customers to identify and capture every dollar that they are entitled to. By combining our strengths into a single, powerful solution, healthcare providers will benefit from a more effective way to capture all revenue accurately, securely, and reliably.”

Since its inception in 1994, Triage has identified and recovered billions of dollars in lost revenue for more than 900 hospital clients. Triage delivers a comprehensive array of payment review, recovery, consulting, and legal support services to its clients. Their healthcare reimbursement expertise encompasses all payers including commercial health plans, government programs, and workers’ compensation. Triage is the 2020 Revenue Integrity and Underpayment Services KLAS® Category Leader, with major office locations in Atlanta and San Francisco.

“We look forward to joining forces with Revint and accelerating innovation in revenue recovery,” said Brian Neece, President of Triage. “Now, more than ever, it is critical to ensure healthcare providers remain financially strong. Together with Revint, we can leverage technology and domain expertise to recover all potential revenue and ensure providers receive accurate and timely reimbursement.”

Revint has achieved tremendous growth, enabled by the first-of-its-kind revenue integrity enterprise platform. This technology-driven safety net solution identifies and recovers revenue and is delivered through a guaranteed ROI model for health systems. The company’s rapid growth has been bolstered by investments in technology and product innovation, which has enabled a more integrated customer experience and improved recoveries.

The Revint and Triage merger is being facilitated by New Mountain Capital LLC (“New Mountain”), a growth-oriented investment firm that currently manages over $25 billion in assets.

“Bringing together these highly complementary revenue integrity companies will be a big step forward in evolving the category,” said Matt Holt, President of Private Equity, New Mountain Capital. “The combination of technology and domain expertise will set a new standard for providers.”

The transaction is expected to close later this year, subject to customary conditions and approvals.

 About Revint 

Revint is a leading provider of technology-enabled solutions for health systems, focused on offering revenue integrity and recovery services to ensure accurate and timely reimbursement for their services. Serving over 1,700 healthcare organizations in the U.S., Revint helps recover over $800 million of underpaid or unidentified revenue for its clients annually. The Company’s solution set includes suites centered around Revenue Assurance, Payer Accountability, and Medicare Reimbursement. Revint was recognized by Black Book among the highest-ranked Revenue Recovery vendors based on customer satisfaction and client experience. Revint’s Revenue Recovery solution suites have HFMA Peer Review status and are HITRUST certified. For more information, visit www.revintsolutions.com.

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The Efficy group acquires INES CRM to create a customer relationship front player in France and become the European Champion

Fortino Capital

Brussels, September 10, 2020 – INES CRM, one of the French cloud-based CRM pioneers, is joining the Efficy group. The stated ambition is to complete the consolidation of the French market in order to conquer Europe!

Obvious product complementarity

Founded in 2005 in Brussels, Efficy publishes a highly flexible CRM intended for medium and large accounts, and positions itself as a partner close to its customers. Already present in 7 European countries and leader in the Benelux, the Efficy group offers CRM solutions at the right price. Daily used by 170,000 users, the group’s solutions support more than 3,500 companies in their growth.

Founded in 1999 in Lyon, INES CRM publishes and integrates an open collaborative SaaS platform, serving business development and the entire customer journey. This solution is particularly suitable for companies with 10 to 50 employees, wishing to quickly set up a personalized CRM solution.

“INES CRM is an ingenious addition to the Efficy group’s range of CRM solutions. Our teams are now able to offer a solution adapted to all contexts. Whether it is a start-up buying a CRM license on the web, a company with 40 employees that wants a customizable solution, or even a group that has several thousand users, ” emphasizes Damien Duchateau, co- founder of INES CRM.

“Joining the Efficy group will allow the INES CRM solution to be enriched with new functionalities. Mobile application, artificial intelligence, gamification, document management and customer extranet functions will quickly complete the INES CRM solution,” adds Max Patissier, co-founder of INES CRM.

A desire to consolidate the European market

The Efficy group aims to represent 5% of the CRM market share on the European scene in four years. This operation is part of this ambition.

The acquisition of INES CRM by Efficy creates a group of 220 employees in Europe with cumulative annual turnover of € 26.5 million for 2019. The customer portfolio stands at 4,500 references.

“In recent years, we have organized and structured ourselves to accelerate the pace of our growth. INES CRM allows us to establish ourselves durably in France. We are planning such operations in other countries in the coming months. Our desire: to become a very serious alternative to the American mastodons on European soil,” concludes Cédric Pierrard, CEO of the Efficy group.

The Efficy CRM group at a glance

Key figures (2019)

  • € 26,5m turnover
  • 220 employees in 9 countries
  • 4 500 clients
  • 185 000 users in 33 countries
  • 46% average growth over the past 5 years

Latest highlights

  • 2017: Acquisition of DESICO, publisher of the Vente Partner solution, in France
  • 2018: Acquisition of E-Deal in France
  • 2019: Acquisition of SumaCRM in Spain
  • 2019: Arrival of Fortino Capital as shareholders

About EFFICY

Efficy is a software provider offering medium & large businesses a complete, flexible and extended CRM (Customer Relationship Management) solution which helps companies manage their Customer Relationship. Efficy has over 170,000 daily users in 33 countries. Founded in 2005, the Efficy Group, ISO 9001 certified, works with companies from a wide variety of sectors: Banking (Belfius, BNP Paribas, Fortuneo), Insurance & Mutual insurance (Amma, Thélem), Social housing, Industry (CEA, Gradus, Poujoulat), Services, Tourism & Transport (Kinepolis, Geneva Tourism), Retail (La Redoute, Groupe Gautier), Local authorities & Chambers of commerce. Headquartered in Brussels, Efficy has approximately 165 employees in its 7 local offices in Belgium, France, the Netherlands, Spain, Luxembourg, Switzerland and Germany.

About INES CRM

French publisher and integrator for 20 years, INES CRM offers a collaborative, open and mobile SaaS platform, serving business development and the entire customer journey.

INES CRM teams support BtoB companies and ensure the sustainability of their digital transition. The INES solution is a tool designed to respond to the problems of different departments (sales, marketing, customer service, etc.) by giving companies a 360 ° view of their customer relationship.
www.inescrm.fr

Contact

For more information, please visit www.efficy.com or contact:
Laëtitia Baret
lba@efficy.com
+33 6 13 03 63 67

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EQT acquires idealista – the leading online real estate classifieds platform in Southern Europe

eqt

  • EQT IX to acquire idealista, the leading online real estate classifieds platform in Southern Europe, present in Spain, Italy, and Portugal
  • idealista’s underlying market is supported by favorable secular megatrends, such as the increasing shift from offline to online marketing spend, as well as significant network effects driven by the platform’s strong brand recognition
  • EQT will, together with idealista’s founders and management team, support idealista’s continued growth momentum and further penetration of existing markets, by leveraging EQT’s strong digital and sector expertise, “local with locals” approach, and extensive advisory network

The EQT IX fund (“EQT IX”) has agreed to acquire idealista (“the Company”) at a transaction price of EUR 1.3 billion from funds advised by Apax Partners and management. Management will re-invest significantly into the Company while EQT IX will have majority ownership. idealista’s management team, including founder and CEO Jesús Encinar, will continue to lead the Company, building on its strong track record of growth and innovation.

Founded in 2000 and headquartered in Madrid, Spain, idealista supports approximately 40,000 real estate agents and 38 million unique monthly visitors across Southern Europe by providing an online real estate classifieds marketplace for home buyers and sellers. The Company’s online platform and diversified portfolio of digital services, such as CRM tools, data analytics, and online mortgage brokerage, help enable efficient real estate transactions, making it a key destination for prospective homeowners and sellers in Spain, Italy, and Portugal.

EQT IX will support idealista’s growth and continued pursuit of commercial excellence by investing in the Company’s online platform and further developing its portfolio of value-add services for real estate agents. Moreover, the Company is expected to leverage EQT’s inhouse digital and tech expertise, global presence, and network of advisors. Together with its founders and management, EQT will support idealista’s plans to further penetrate its core markets and strengthen its position as the market leading and go-to platform for online real estate classifieds in Southern Europe.

Bert Janssens, Partner and Global Co-Head TMT at EQT Partners and Investment Advisor to EQT IX, said: “idealista represents a truly thematic investment, within one of EQT’s core sub-sectors. This investment fits strongly with EQT’s focus of investing in high growth companies and partnering with world class management teams. We are impressed by the market leading position idealista has built over the past 20 years and EQT is excited to support idealista and its entrepreneurial management team in this next stage of growth.”

Carlos Santana, Managing Director and Head of EQT Private Equity in Spain at EQT Partners, and Investment Advisor to EQT IX, concluded: “EQT believes that idealista has the potential to grow at an accelerated pace. Together with Jesús and the management team, EQT will support further expansion within idealista’s core markets and consolidate its leadership position in Southern Europe. The investment in idealista further demonstrates EQT’s commitment to pursue investment opportunities in the region.”

Jesús Encinar, CEO at idealista, said: “We are very excited to partner with EQT and look forward to working together during the coming years. EQT’s online classifieds and real estate expertise, local presence in Spain and Italy, and extensive network of advisors will be of great value for us and key to our future success. idealista and EQT share a similar culture and passion for growth, a key decision factor for me and my team to partner with them.”

In line with the commitment to invest in sustainable businesses, EQT will accelerate idealista’s growth as it supports local and industry technological innovation by leveraging its role as a key intermediary in the real estate transactions value chain. By supporting real estate agents’ transition from offline to online and enabling efficient transaction between prospective homeowners and sellers, idealista contributes primarily to the Sustainable Development Goal 11.

The transaction is expected to close subject to customary approvals in December 2020. PwC, Allen & Overy, and Freshfields served as advisors to EQT, while Evercore served as advisor to Apax and idealista.

With this transaction, EQT IX is expected to be 10-15 percent invested, based on its target fund size.

Contact
Bert Janssens, Partner and Global Co-Head TMT at EQT Partners and Investment Advisor to EQT IX, +31 652 523 675
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT

EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About idealista
idealista supports approximately 40,000 real estate agents and 38 million unique monthly visitors across Southern Europe, by providing an online real estate classifieds marketplace for home buyers and sellers.

More info: www.idealista.com/en

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3Cloud Acquires 3Cloud Acquires Pragmatic Works Consulting

Gryphon Investors

Acquisition expands 3Cloud’s data and analytics capabilities and geographic reach, forming the largest Azure pure-play services firm in the U.S.

Chicago, IL – September 10, 2020 —

 

3Cloud, a leading Microsoft Azure services firm, today announced that it has acquired the consulting arm of Pragmatic Works, an award-winning services firm focused on Microsoft’s cloud and data platforms.

“With the acquisition of Pragmatic Works Consulting, 3Cloud has taken another big step towards achieving our goal of becoming the number one Azure pure-play services provider” said Mike Rocco, 3Cloud CEO and Co-Founder. “Pragmatic Works Consulting has built an outstanding reputation as a leader in Azure data and analytics solutions, and we are excited to combine the expertise of our two world-class teams to deliver leading-edge Azure solutions for Microsoft customers.”

With this acquisition, 3Cloud will form the largest Azure pure-play services firm in the U.S. Additionally, 3Cloud will gain an expanded geographic presence to better serve clients across the U.S.

Pragmatic Works Training will continue to operate as a separately owned company under the leadership of Pragmatic Works CEO and Founder Brian Knight. “I’m extremely proud of the market-leading position Pragmatic Works has built in the Microsoft data and analytics space,” said Knight. “I look forward to seeing the talented employees of our consulting division continue to excel as part of the 3Cloud team.”

“Pragmatic Works Consulting has always focused on helping companies grow their business and operate more efficiently with data. We take pride in helping our clients solve some of their most complex technology challenges,” said Adam Jorgensen, Pragmatic Works Consulting President. “3Cloud has the same client-focused and growth-oriented approach, and we’re excited to join forces with them.”

Both firms have strong partnerships with Microsoft and industry-leading Microsoft credentials. 3Cloud was recently named the winner of the Microsoft US 2020 Azure Influencer Partner Award, and Pragmatic Works was named the winner of the Microsoft US 2020 Power BI Partner Award. Pragmatic Works was also a finalist for both the Power BI and Power Apps 2020 Microsoft Partner of the Year Awards and is a Databricks partner with deep expertise on this platform.

“We continue to see tremendous Azure growth momentum in the marketplace, especially in the data and analytics space as companies seek to modernize their data warehouse and business intelligence platforms,” said Jim Dietrich, 3Cloud President and Co-Founder. “With the help of our financial partner Gryphon Investors, we will continue to pursue growth opportunities across the spectrum of Azure solution areas while remaining committed to our mission of delivering the ultimate Azure experience for our clients.”

7 Mile Advisors served as exclusive financial advisor to 3Cloud and Gryphon Investors. Gryphon Investors completed a majority investment in 3Cloud in June 2020.

About 3Cloud
3Cloud is a “born in the cloud” Gold-certified Microsoft Azure technology consulting firm and Azure Expert Managed Services Provider that provides cloud strategy, design, implementation, and managed services to clients across multiple industries. Founded by former Microsoft technology leaders, 3Cloud combines a team of highly experienced cloud architects and technologists with a strong network of Microsoft sales and engineering relationships to deliver the ultimate Azure experience for clients.  3Cloud is headquartered in Chicago, Illinois with offices in Dallas, Texas and Pittsburgh, Pennsylvania, and supports clients throughout North America and Europe. To learn more, visit www.3cloudsolutions.com.

About Pragmatic Works
Pragmatic Works is 100% focused on Microsoft’s cloud and data platforms. They have worked across the United States with thousands of companies including 97% of the Fortune 100. Through their weekly free training sessions, large-scale virtual Azure events and a team dedicated to helping customers grow their business with data, they are uniquely positioned to consult businesses on taking advantage of the latest Microsoft applications. Pragmatic Works’ focused work with Microsoft has led to them being recognized as a finalist for the Data Platform Partner of the Year award in 2017, Data Analytics Partner of the Year award in 2019 and both the Power BI and Power Apps Partner of the Year award in 2020. They have also been named the 2020 MSUS Partner Award winner for Business Applications – Power BI. To learn more, visit www.pragmaticworks.com.

About Gryphon Investors
Based in San Francisco, Gryphon Investors is a leading private equity firm focused on growing and enhancing mid-market companies in partnership with management. The firm has managed over $5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $100 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise. For more information, visit www.gryphoninvestors.com.

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Sprinklr Raises $200 Million at $2.7 Billion Valuation

Hellman & Friedman

Investment by Hellman & Friedman follows record financial year and strong growth in the wake of COVID-19

Sprinklr has also secured an additional $150 million in convertible securities from Sixth Street

As consumers are more connected and empowered because of the shift to social and messaging channels, Customer Experience Management (CXM) has become vital to the digital transformation of large enterprises

Sprinklr, the Customer Experience Management (CXM) platform for modern enterprises, today announced that it has raised $200 million at a $2.7 billion valuation from Hellman & Friedman (H&F), one of the world’s most experienced private equity firms, and secured an additional $150 million in convertible securities from Sixth Street Growth, the growth investment arm of Sixth Street, a leading global investment firm.

Together, these investments represent up to $350 million in new capital that Sprinklr will use to double-down on the value it is creating for the world’s largest enterprises, and accelerate its position as the pioneer of a new class of enterprise software that enables the entire front office to work together and deliver better customer experiences on any modern channel – all on one unified platform.

“In a world where customers are connected and empowered, Customer Experience Management is no longer optional. It’s time for modern enterprises to break down silos, and unify disconnected teams, channels, and tools to make their customers happier,” said Ragy Thomas, CEO & Founder, Sprinklr. “That’s been our mission from the start. To build a new class of enterprise software purpose-built for CXM, and a new kind of enterprise software company that the world’s largest organizations truly love.”

“Sprinklr has a unique opportunity to lead a Customer Experience Management market that’s already massive – and growing – as enterprises continue to realize the urgent need to put CXM at the heart of their digital transformation strategy,” said Tarim Wasim, Partner, Hellman & Friedman. “We spoke to over a hundred customers, and they consistently credit Sprinklr for modernizing their customer experience through its unified, AI-driven enterprise platform, and a team that is deeply passionate about customer delight.”

“Underpinned by a visionary leadership team, strong return on invested capital, and AI technology built to provide the world’s leading brands with the ability to engage their customers across any channel, Sprinklr is defining and leading the enormous new category of Customer Experience Management,” said Michael McGinn, Partner and Co-head of Sixth Street Growth. “We’re excited to be part of Sprinklr’s journey of impressive growth and are pleased that our investment will bolster an already strong balance sheet.”

“Customer Experience Management” Is Core to Digital Transformation
CXM and consumer-centricity have become vitally important to the C-Suite. 72% of businesses say improving customer experience is their top priority, according to Forrester. According to an Accenture Interactive report, 87% of organizations believe that traditional experiences are no longer enough to satisfy their customers. The report concluded that “CX is the new battleground for brands.”

When businesses are able to improve customer experience, however, it has a direct impact on their bottom line, with Forrester finding that even a one-point increase in CX scores can translate into $10M’s – $100M’s in annual revenue.

As the world moves even more online due to the coronavirus pandemic – which has driven a 50-70% increase in global internet usage – the ability to serve customers on the digital channels they choose is no longer an option, creating what the World Economic Forum calls a “watershed moment for the digital transformation of business.”

A Modern Platform Purpose-Built for CXM
Founded in 2009, Sprinklr’s platform was built from the ground up for one purpose: to provide every customer-facing team with the modern capabilities they need to serve connected customers, and enable the entire front office to work together and deliver a more unified customer experience. Over the past decade, that vision has followed three phases:

  • Social: Sprinklr started with a foundation in social, helping brands listen to, engage, and reach customers across dozens of social channels on one unified platform. That differentiation cemented Sprinklr – in the eyes of leading brands and analysts – as the leader in Social Media Management (SMMS). 
  • Digital: In 2017, Sprinklr expanded its platform, introducing a full suite of digital solutions for each major customer-facing department – Marketing, Advertising, Research, Care, and Engagement – designed to give each the modern capabilities they need to thrive in a world where customers are connected and in control. 
  • CXM: Today, hundreds of the world’s largest brands have multiple customer-facing functions – like Marketing and Care – working together on Sprinklr’s platform to realize the full potential of CXM, an $80+ billion market opportunity. Sprinklr powers 9 of the world’s 10 most valuable brands, and companies including Microsoft, McDonald’s, L’Oreal, Verizon, and Santander.

Continued Momentum
Over the past 12 months, Sprinklr has seen continued momentum with milestones including:

  • Released 1,500+ new features across its five products including: Sprinklr Live Chat to enable real-time conversations on a brand’s website and mobile apps, new AI-powered capabilities like Smart Responses for care agents, and Sprinklr Sandbox to provide an isolated environment to test, train, and troubleshoot. 
  •  Named the only leader in The Forrester Wave™: Social Suites, Q4 2019, making Sprinklr a leader in all five Forrester social Wave reports. Sprinklr has also been named a leader by Frost & Sullivan (Customer Value Leadership Award), Forbes (Cloud 100), Gartner (2020 Customers’ Choice), G2 Crowd (Leader, Summer 2020), TrustRadius (Top Rated 2020), and Adweek (Readers’ Choice for Best of Tech Award 2020). 
  • Acquired Nanigans’ social advertising business, and announced new integrations with ServiceNow and Google.

The investment from H&F is expected to close in October following regulatory approvals and customary closing conditions.

About Sprinklr Sprinklr (@Sprinklr) is the world’s leading Customer Experience Management (CXM) platform. We help organizations listen to, engage, and reach customers and citizens across 25 social channels, 11 messaging channels, and hundreds of millions of forums, blogs, and review sites. Sprinklr is a global company with 1,900 employees helping more than 1,000 of the world’s largest and most valuable enterprises make their customers happier.

About Hellman & Friedman (H&F) Hellman & Friedman is a preeminent global private equity firm with a distinctive approach focused on investments in high-quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. Since its founding in 1984, H&F has raised over $50 billion of committed capital, invested in over 90 companies, and is currently investing its ninth fund, with $16.5 billion of committed capital. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.

About Sixth Street Sixth Street is a global investment business with approximately $47 billion in assets under management and committed capital. Sixth Street Growth is the firm’s dedicated platform for making customized, non-control private investments in growth-oriented companies. The Sixth Street Growth team partners with companies and management teams to provide bespoke, accretive financing solutions that often fall between traditional growth equity and commercial debt. Sixth Street has invested over $4 billion in more than 40 companies in its growth investing strategy since inception. Select current and past representative Sixth Street Growth investments include Airbnb, AirTrunk, AvidXchange, Gainsight, Kyriba, Lucidworks, Paycor, PayScale, PaySimple and Spotify.

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