Tag Archives: Information technology

Bain & Company, along with CVC, finalise terms of investment in EcoVadis

New collaboration enables further integration of sustainability, fair labor practices and ethics into enterprise supply chains and business commerce

Bain & Company today announced it has made a minority investment in EcoVadis, the world’s most trusted provider of business sustainability ratings for global supply chains. The collaboration will accelerate and deepen both companies’ offerings for improving the environmental, social and governance (ESG) performance of their collective clients.

Focused on creating “the highest levels of value” for its clients, Bain & Company notes a comprehensive emphasis on economic, social and environmental value in its aims. This indicates a growing acknowledgement across the firm and the global industries it serves —including private equity, consumer products, energy, finance, and technology—that the purpose of business must go beyond the singular focus of maximizing shareholder value.

Bain & Company will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. They will also seek to develop a focused approach around specific offerings for financial investors across fund strategy, diligence and post-acquisition.

Bain & Company’s investment, coupled with EcoVadis’ recently secured c.$200m investment from CVC Growth Fund II, will enable EcoVadis to scale growth and maximize its impact on  enterprise supply chains, embedding sustainability into business decision-making and corporate performance.

“Recognizing that social and environmental challenges are growing, timelines for addressing them are contracting, and companies are moving quickly to adapt, Bain & Company is committed to our mission of creating value – economic, social, and environmental – for our clients,” said Jenny Davis-Peccoud, co-head of Bain & Company’s global Sustainability & Corporate Responsibility Practice.

Practice co-leader Jean Charles Van den Branden, commented, “Joining forces with EcoVadis, which has a strong presence and reputation, as well as access in the ESG space, directly supports our strategy and enables us to create a highly differentiated offering across our various practice areas.”

“Bain & Company’s investment represents another substantial milestone for EcoVadis. The investment is a strong testament to the value and business-critical role that sustainability plays in today’s market,” said Pierre-Francois Thaler, co-CEO and co-founder of EcoVadis. “We continue to see executives from all over the world share bold plans for sustainability and ESG transformation. Collaborating with Bain & Company and CVC equips us to reach, enable and impact more organizations and communities globally.”

“Environmental, social and governance issues are critical to business success, economic growth and societal improvement, and we are looking forward to working closely with two partners who rightly place these factors at the core of their business strategies,” said Aaron Dupuis, partner, CVC Growth Partners. “This collaboration with Bain & Company coupled with our recent investment is a real game changer for EcoVadis, and we are excited to back this new partnership with the full weight of the CVC network.”

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Shippeo raises €20 million to provide real-time visibility into the global supply chain

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Shippeo, the leading supply chain visibility provider in Europe, announces the closing of a €20 million Series B round co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.

Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries. The team has grown tenfold and Shippeo now employs 80 people in seven different offices across Europe.

Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.

The Series B round of €20 million in new equity is co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Partech, who participated in the Series A round, also took part in this new funding, reaffirming its trust in Shippeo and its long-term support to the management team

Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said:

“Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”

Bo Ilsoe, Partner of NGP Capital, stated: “Working with great entrepreneurs is our core mission at NGP Capital and we are honoured to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding-value to the company through our global model and network.”

Remy de Tonnac, Partner at ETF Partners, said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.”

Shippeo will use the Series B funding:

  • To further strengthen its market-leading position in Europe by multiplying the customer base times five while maintaining very high customer satisfaction,
  • To expand the team by 150 new recruits in data science, IT, sales and operations,
  • To triple its R&D investment in AI and automatization to achieve increased operational excellence and increased customer visibility into the supply chain.

The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600.000 road freight companies in Europe alone, digitization offers a tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.

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Nordstjernan divests its holding in PriceRunner

Nordstjernan

Nordstjernan has signed an agreement to divest its holding in PriceRunner, a company that provides a leading digital consumer service for price comparisons and product information from both online shops and brick-and-mortar stores, to the eEquity investment fund and Nicklas Storåkers.

PriceRunner was founded in 1999, and Nordstjernan has been the owner since 2016 with 35 percent of the shares in the company. PriceRunner has approximately 130 employees with operations and sites in Sweden, Denmark and the UK.

“Nordstjernan has been an owner of PriceRunner alongside Nicklas Storåkers and Karl‑Johan Persson. Together with the company’s management, we created an independent and competitive comparison service. The company is now entering a new stage of development, and I would like to extend my deepest thanks to management and employees for their efforts. I am pleased that an experienced investor like eEquity will be a new owner of PriceRunner”, says Peter Hofvenstam, President and CEO of Nordstjernan.

The parties agree not to disclose the terms of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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Hg invests in smartTrade Technologies

HG Capital

Hg invests in smartTrade Technologies to accelerate its growth as a global leader in multi-asset electronic trading solutions

Hg’s support will help continue innovation and R&D, strengthening smartTrade’s position as one of the most technologically advanced players in the industry

Hg, Europe’s leading software investor, today announced that it has entered into an agreement to acquire stakes from Keensight Capital and Pléiade Venture in smartTrade Technologies (“smartTrade”), a leader in multi-asset electronic trading solutions, headquartered in Aix-en-Provence, France.  David VINCENT, CEO & co-Founder, and the smartTrade management team will remain invested in the business alongside Hg.

smartTrade is a managed services and hosted software provider for trading desks and a global leader in this sector. smartTrade’s liquidity management solutions enable financial institutions to develop and run high-performance trading platforms throughout the world. The business has expanded rapidly in recent years and today has a global client base, with subsidiaries around the world, including in London, Geneva, Milan, New York, Tokyo and Singapore.

Hg has been investing in Capital Markets and Wealth and Asset Management technology for almost 20 years and has known the smartTrade team since 2015. During this time Hg has recognised smartTrade as a truly innovative business, which has developed leading, modular solutions (LiquidityFX and smartFI), used by sell-side and buy-side market participants. With an exceptional leadership team, smartTrade has achieved industry-leading technology credentials supported by well-run operations, with continued potential for growth, making it a compelling fit with Hg’s expertise and capabilities.

Hg’s investment will be made from the Mercury 2 Fund and represents the firm’s 7th investment in technology businesses serving the Capital Markets and Wealth and Asset Management sectors, including previous investments such as Ullink, a global multi-asset trading technology software provider (Paris); and more recently FE fundinfo, the global fund data and technology leader (London and Zurich).

David VINCENT, Chief Executive Officer & Co-Founder at smartTrade Technologies, said: “The success of our business is based on continued innovation and technological advancement, putting R&D at the heart of our business. Welcoming Hg, a real expert in software and technology in this sector, creates a truly compelling offering. I am personally very excited about the prospects of the business. Keensight Capital and Pléiade Venture have played a decisive role in our growth to date, and we are grateful of their involvement. Now, with Hg’s support, alongside the smartTrade team, I am committed to further developing a great service for our customers, as they look to modernise their own systems.”

This proposed investment is subject to French workers’ council consultations and customary clearances. The terms of the transaction are not disclosed. Hg was advised on the investment by White & Case, Deloitte and Bryan, Garnier & Co. smartTrade was advised by Arma Partners and Hoche Partners.

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Funds advised by Apax Partners and NB Renaissance Partners sell their stake in Engineering Group

Apax

5 February 2020

Rome — Feb. 5, 2020: Funds advised by Apax Partners (the “Apax Funds”) and NB Renaissance Partners (“NBRP”) today announced that they have agreed to sell their stake in Engineering Group, a leading IT services provider, to a consortium of Bain Capital Private Equity and different funds advised by NBRP.

Headquartered in Rome, Engineering is a leading IT services provider focused on digital transformation with more than 11,000 professionals in 65 locations across the world. The company designs, develops and manages innovative IT solutions for business areas where digitalisation is having the biggest impact.

In 2016 the Apax Funds alongside NBRP, the founder Michele Cinaglia and key senior managers acquired Engineering in a take private transaction which saw the business delist from the Milan Stock Exchange. Since then, Apax and NBRP have worked closely with the management team to deliver strong organic growth and execute an accretive M&A strategy. During the Apax Funds and NBRP’s four-year tenure, both revenue and EBITDA grew by +11% CAGR, reaching €1.3bn and €160m respectively, and the number of employees increased by c.3,000, reaching c.11,000. Over this period, the company completed 19 acquisitions both in Italy and abroad, acting as a consolidation platform in a fragmented market, with a track record of successful integration and expansion of its portfolio of proprietary solutions.

Gabriele Cipparrone, a Partner at Apax Partners, said: “Engineering has a leading position in the Italian IT Services market. Four years ago we saw the opportunity to leverage our significant expertise in IT Services to help Engineering accelerate growth. The company has delivered on its potential through a focus on organic and acquisitive growth. We would like to thank the CEO Paolo Pandozy and his team for the strong partnership and all they have achieved. We wish them all the best in the future.”

Paolo Pandozy, CEO of Engineering Group, said: “We would like to thank Apax Partners and NBRP for their insights and support over the years. Together, we have accelerated Engineering’s growth through investments in R&D and in innovation, as well as strategic acquisitions, which strengthened our leadership position in the Italian IT Services market.”

Michele Cinaglia, Founder of Engineering, said: “I am proud of what Engineering has achieved during the Apax Funds and NBRP’s ownership. I would like to thank them for their guidance and expertise over the last four years. We look forward to our continued success with NBRP and welcome Bain Capital Private Equity.”

The transaction remains subject to regulatory approvals.

The Apax Funds and NBRP’s selling funds were advised by Rothschild & Co (financial adviser), Simpson Thacher & Bartlett and BonelliErede (legal advisers) and PwC (tax adviser).

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About Engineering Group

With around 11,000 professionals in 65 locations, the Engineering Group designs, develops and manages innovative solutions for the business areas where digitalization is having the biggest impact. Through its activities, the Group contributes to modernizing the world in which we live and work, combining specialist competences in next-generation technologies, technological infrastructures organized in a single hybrid multicloud and the capability to interpret new business models. With significant investments in R&D, Engineering plays a leading role in research, by coordinating national and international projects thanks to its team of 420 researchers and data scientists and a network of academic partners and universities throughout Europe. One of the group’s key strategic assets is its employees’ know-how, to whose training it has dedicated a multidisciplinary School which has provided more than 21,000 days of training during the last year. Learn more: www.eng.it.

Apax Media Contacts 

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

IT Media: Giovanni Sanfelice, Tancredi Group | +39 366 111 5525 |

giovanni@tancredigroup.com

USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors 

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

 

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EQT invests in RIMES, the global leader in Managed Data Services for financial institutions

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  • EQT makes significant growth investment in RIMES, a leading global provider of Managed Data Services (MDS) and regulatory technology (RegTech) software solutions that address the complex needs of leading financial institutions
  • RIMES uses its proprietary technology, internal team of data management experts and relationships with 500 data partners to source, validate and configure market data in line with customer needs, ensuring superior data quality and reliability, reduced internal costs and increased operational flexibility
  • Together with RIMES’ CEO, President and Co-Founder Christian Fauvelais, EQT will support continued product innovation, further investment in technology and infrastructure, and organic as well as acquisitive growth by leveraging EQT’s global footprint and expertise across software, data and services

The EQT Mid Market Europe fund (“EQT Mid Market” or “EQT”) today announced a significant growth investment in RIMES (“the Company”), and together with Christian Fauvelais, RIMES’ CEO, President and Co-Founder, EQT will support and accelerate execution of the Company’s strategic vision.

RIMES serves the complex data needs of financial institutions with customized, scalable and cost-effective Managed Data Services and RegTech solutions. The Company pioneered the delivery of customized market and reference data via the cloud and has built a strong reputation for ensuring best-in-class data quality. Today RIMES serves more than 350 asset managers, owners, servicers and banks in 45 financial centres globally, including 60 of the top 100 global investment managers and 9 of the top 10 asset servicers in the world.

EQT will support RIMES’ vision to be the global leader in Managed Data Services across all forms of market and reference data, including benchmark, risk, ratings, fundamental, economic, alternative, ETF and ESG data. By further investing in RIMES’ technology and internal talent, EQT will support service extensions and enhancements as well as product innovations across RIMES’ offerings in data management and RegTech.

The investment in RIMES is in line with EQT’s commitment to invest in sustainable solutions, guided by the United Nations’ Sustainable Development Goals. RIMES is an emerging leader in ESG data for the investment management industry, contributing to society by providing high-quality data on sustainability and increasing transparency in the business community.

Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, commented: “RIMES is perfectly aligned with EQT’s thematic investment approach and focus on software, data and services. EQT is excited to partner with Christian to support the continued development of RIMES and to help it achieve its full potential.”

Christian Fauvelais, CEO, President and Co-Founder of RIMES, said: “We are excited to partner with EQT for the next stage of our growth. EQT’s values strongly align with ours, and their expertise in data, software and services businesses makes them a great partner as we move to deepen our client relationships and further grow our presence in the data management space across all regions. The partnership will accelerate our ongoing commitment to our existing clients across data management and RegTech and allow us to increase the pace at which we can invest in new technology and infrastructure to bring new solutions to the market, including in areas such as ESG and ETF data.”

Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, concluded: “We have been very impressed by RIMES’ achievements, and EQT looks forward to working with the team during the next stage of the Company’s growth, driven by continued investment in core solutions, support for the recently launched services in ESG and ETF data, and further enhancement of RIMES’ data management and RegTech offerings.”

The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2020.

Contacts
Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, +46708218440
Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, +442033729427
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 41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About RIMES
RIMES is an award-winning data management and regulatory technology specialist that truly understands the challenges faced by its customers. It serves over 350 asset managers, owners, servicers and banks in 45 countries including 60 of the 100 largest global asset managers by AUM and 9 of the top 10 asset servicers in the world.

More info: www.rimes.com

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MediFox and DAN Produkte merge to create MediFox DAN Group

HG Capital

Medifox, a leading provider of software solutions to outpatient, inpatient care providers and therapy practices in Germany, has announced the merger with DAN Produkte (“DAN”), a leading German care software provider with a strong presence in inpatient care.

Transaction brings together two leaders of software innovation for the care industry, further strengthening solutions for outpatient and inpatient care providers across Germany

Together, MediFox and DAN have a 55-year history of setting new standards in product innovation and customer service across the care sector. The merger will bring together deep software and industry expertise from both businesses, leading to a number of advantages for customers, employees and other stakeholders: including faster responsiveness to regulatory changes, higher service availability and quality and increased capacity for product innovation. The two companies will form MediFox DAN-Group and will continue to invest in all existing product lines, as well as jointly develop new functionality and improvements. The group will continue to consider further acquisitions.

Hg, the specialist private equity investor focused on software and service businesses, announced its investment in MediFox in 2018 and, today, Hg has invested over $1 billion globally in the healthcare technology sector.

For more information, as well as comments from the MediFox and DAN management teams, please find the full announcement here.

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MediFox and DAN Produkte merge to create MediFox DAN Group

HG Capital

Medifox, a leading provider of software solutions to outpatient, inpatient care providers and therapy practices in Germany, has announced the merger with DAN Produkte (“DAN”), a leading German care software provider with a strong presence in inpatient care.

Transaction brings together two leaders of software innovation for the care industry, further strengthening solutions for outpatient and inpatient care providers across Germany

Together, MediFox and DAN have a 55-year history of setting new standards in product innovation and customer service across the care sector. The merger will bring together deep software and industry expertise from both businesses, leading to a number of advantages for customers, employees and other stakeholders: including faster responsiveness to regulatory changes, higher service availability and quality and increased capacity for product innovation. The two companies will form MediFox DAN-Group and will continue to invest in all existing product lines, as well as jointly develop new functionality and improvements. The group will continue to consider further acquisitions.

Hg, the specialist private equity investor focused on software and service businesses, announced its investment in MediFox in 2018 and, today, Hg has invested over $1 billion globally in the healthcare technology sector.

For more information, as well as comments from the MediFox and DAN management teams, please find the full announcement here.

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SCHEMA Group adds Docware to its portfolio of companies

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SCHEMA Group, a developer of software solutions for content lifecycle management (Component Content Management System SCHEMA ST4 and Content Delivery Solution SCHEMA CDS), is completing a full takeover of Docware GmbH with effect from 20 January 2020. The service information system manufacturer is the latest addition to the SCHEMA Group’s portfolio of companies. SCHEMA Group had already reinforced their position in this area back in May 2019, by increasing its stake in TID Informatik from 27% to 100%. With the acquisition of Docware GmbH, the SCHEMA Group is now even stronger in this sector. In addition, the SCHEMA Group develops software solutions for generating and maintaining ‘Technical Information’, which, in combination with ‘Service Information’, is seen as the basis for smart content integration into Industry 4.0 and the Internet-of-Things devices.

“The decision to integrate Docware into the SCHEMA Group not only resolves succession issues, it also provides excellent future prospects for our customers and our employees,” enthuses Werner Hofmeister, founder and Managing Director of Docware GmbH. “Under the umbrella of the SCHEMA Group, Docware – together with TID Informatik – is strengthening its presence on the market, which is not only more attractive for decision-makers, but also means customers have a broader product portfolio to choose from. I am sure that this merger will help us to generate huge growth potential for the future.”

Marcus Kesseler, founder and Managing Director of SCHEMA Group, explains: “With Docware, we are gaining another company that has been firmly established on the market for many years. All three companies in the group are leaders in their segment and are showing significant growth. We are also working together on new product innovations, which should give us access to new markets. In the SCHEMA Group, we offer a unique range of products and services that provides significant added value for our customers.”

The acquisition of Docware will increase the number of SCHEMA Group employees to over 250. Together, the companies have more than 1000 customers in over 25 countries. This means SCHEMA Group is now one of Germany’s leading software manufacturers.

What is SCHEMA?
The SCHEMA Group was founded in Nuremberg in 1995 and is a medium-sized software manufacturer with more than 130 employees. The SCHEMA Group produces component content management and content delivery solutions for editorial offices that create product-related content. Software from SCHEMA helps companies to describe complex products and to produce and distribute these descriptions on different media.

The XML editing system SCHEMA ST4 is one of the most widely used systems for the modular creation of documentation, package inserts and marketing materials. The system covers all areas of creation, versioning, variant control, translation, administration and publication of product-related content – from authoring support during input to the finished layout for the print catalog.
The SCHEMA Content Delivery Server offers companies a standard solution for automatically distributing intelligent information created in editorial systems to end users in a targeted and context-specific manner. This ensures that exactly the right information arrives automatically on mobile devices.

SCHEMA’s software solutions are used by more than 500 customers in the mechanical engineering, automotive, information technology, electronics, medical technology and pharmaceutical industries. Customers such as ABB, Agilent, Andritz, Bentley, Bombardier, Bosch, Bundesanzeiger, Carl Zeiss, Caterpillar, Daimler, Datev, Doppelmayr, General Electric, KSB, MAN, Miele, Österreichische Bundesbahnen, Philips, Porsche, Roche, Schaeffler Group, SEW Eurodrive, Siemens, SMA, Toyota, TüV, Voith and Wincor Nixdorf and many others rely on SCHEMA systems.

SCHEMA. Complex documents easy. www.schema.de

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Zinier raises $90M to transform field service workforces with AI-driven automation

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New Investor ICONIQ Capital Leads Series C Round

SAN FRANCISCO – January 15, 2020 – Zinier, the leader in intelligent field service automation, today announced that it has raised $90 million in Series C funding to transform field service workforces with AI-driven automation. New investor ICONIQ Capital led the round with new participation from Tiger Global Management, and return investors Accel, Founders Fund, Nokia-backed NGP Capital, France-based Newfund Capital and Qualcomm Ventures LLC. The funding will support global customer adoption and expansion of Zinier’s AI-driven field service automation platform, ISAC.

In the past year, more than $100 million was invested in Zinier to transform the way field service work gets done. From the electricity that lights up homes to wireless connectivity that enables communication around the world, it’s expected that these services work on demand. For companies that enable these services, the most important work falls on their field service organization. Historically, these teams have been slowed down by legacy systems and manual processes. As margins shrink and the volume of work continues to rise, it’s critical for enterprises to have real-time visibility into the field and drive productivity by automating routine work.

“Services that we rely on every day – electricity, transportation, communication – are getting by on centuries-old infrastructure that requires a major upgrade for the next generation of users,” said Arka Dhar, co-founder and CEO of Zinier. “A field service workforce powered by both people and automation is necessary to execute the massive amount of work required to not only maintain these critical human infrastructures, but to also prepare for growth. Our team is focused on enabling this transformation across industries through intelligent field service automation.”

Less than two years ago, Zinier built its own technology platform, ISAC, from the ground up and entered the market to help enterprises make the leap from reactive field service management to proactive field service automation. Since then, Zinier has worked with leading global companies like Black & Veatch and Car-Sa, and formed strategic partnerships with system integrators like Capgemini and Tata Consultancy Services.

“Zinier is poised to disrupt field service delivery as we know it,” said Will Griffith, Partner at ICONIQ Capital. “It is critical for companies to optimize this costly and complex part of their business, and Zinier has the platform-based technology and team to take on this global, multi-industry market. We are excited to partner with Zinier and support them in their mission of changing the paradigm on field service work on a global scale.”

This round of funding will accelerate:

  • Continued global expansion including entry into Australia, Brazil, Chile, France and the Iberian Peninsula.
  • R&D to expand ISAC’s AI-driven platform capabilities and configurability.
  • Expansion into additional industries that rely on field service work for business success.
  • Partnerships with leading system integrators around the world.

“Early field service software providers emerged decades ago and their solutions reflect just that,” said Dinesh Katiyar, Partner at Accel. “We continue to invest in Zinier because of its platform, its people and its potential to empower field service workforces with a dramatically more intelligent solution. Capturing and understanding data on the ‘who, what and where’ is critical to the mobile workforce of the future and Zinier is enabling enterprises to truly optimize this critical part of the business for the first time.”

2020 will be a pivotal year for companies providing services across telecom, energy, utilities and beyond. From the preparation for 5G to managing new data streams created by IoT-connected devices, field service organizations are a key driver of business growth and enabling game-changing developments that impact how we live.

About Zinier

Zinier’s intelligent field service automation platform helps organizations work smarter—from the back office to the field—to solve problems more quickly, fix things before they break, and maintain the services that we rely on every day. Field service organizations around the world use our AI-driven platform to supercharge every aspect of their field service operations. We are a global team headquartered in Silicon Valley with leading investors including Accel, ICONIQ Capital, Founders Fund, Newfund, NGP Capital, Tiger Global Management and Qualcomm Ventures LLC. Learn more at www.zinier.com.

About ICONIQ Capital

ICONIQ Capital is a privately-held financial advisory and investment firm, and a partner of choice for exceptional entrepreneurs, leaders and institutions around the world. The firm invests in technology growth equity and real estate asset classes and employs a distinctive ecosystem to build enduring businesses. ICONIQ is a trusted advisor fostering meaningful strategic relationships across industries to source powerful ideas, magnify global impact and support a new generation of entrepreneurs and companies. For a full list of investments made by ICONIQ Growth, an affiliate of ICONIQ Capital, please visit here.

About Accel

Accel is a leading venture capital firm that invests in people and their companies from the earliest days through all phases of private company growth. Acko, Atlassian, BlackBuck, BlueStone, BookMyShow, Braintree, BrowserStack, Cloudera, Collectabillia, CureFit, DJI, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Housing-PropTiger, Lookout Security, Mitra Biotech, MuSigma, Myntra, Ola, Paxata, Portea, Qualtrics, Samunnati, Slack, Spotify, Supercell, Swiggy, UrbanClap and Vox Media are among the companies the firm has backed over the past 30 years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths, because greatness doesn’t have a stereotype. For more, visit www.accel.com, or www.twitter.com/accel_india.

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