Almi Invest exits from Dapresy and sells its share to Verdane Capital

Almi Invest exits from Dapresy and sells its share to Verdane Capital
Press Release • May 17, 2017 16:00 CEST
SaaS company Dapresy has developed its own analytical tool for market research where the results are presented in the form of infographic.

Almi Invest will exit from Dapresy and sells its share to the Nordic Private Equity Fund Verdane Capital IX. Norrköpingsbolaget Dapresy is a global supplier of a software platform for information visualization of market research data. The company has customers around the world and a significant proportion of the world’s larger companies use Dapresy. In connection with Almi Invest’s divestment, Verdane enters into the new main owner and investor in Dapresy.

Dapresy was founded in 2003 and is a spin-off company from Hermelin Research. In 2010, Dapresy Pro launched on a global market with customers in more than 25 countries. Customers are found in all segments with a focus on larger information-intensive companies that need to communicate market research data to larger organizations. Dapresy has transformed a mature market by allowing modern-time collaborators at all levels of a company to review market research data, tailored individually to the needs of the individual employee, with the aim of supporting more and better business decisions.

-Almi Invest entered the first external investor in 2011. Dapresy has grown steadily and had an annual revenue increase of about 30%. The success of the company is that the team has combined technical excellence with a strong commercial drive on the market side, which made them succeed in gaining global players as loyal customers. With an exit of 5 times invested capital, it enables multiple investments in promising tech startups and contributes to long-term investment activities, says Björn Persson Fund Manager Almi Invest

In 2016, Dapresy had sales of more than 50 million and now has 60 employees. In addition to the head office in Norrköping, Dapresy is represented with local offices in the United States, Great Britain, Canada, Germany and Bosnia. Through partner, the company is represented in Australia and New Zealand.

-Almi Invest and Almi Corporate Partners have been crucial to taking Dapresy where we are today. With Almi Invest as investor and Björn Persson as board member of Dapresy, the company has been able to accelerate growth, expand internationally and create a basic structure for profitable sustained growth. With Verdane as a new strong investor, we are aiming for continued strong growth in Sweden and in our international core markets, “said Torbjörn Andersson, CEO of Dapresy


Torbjörn Andersson, CEO, Dapresy, tel: +46 (0) 709 29 94 13,

Björn Persson, Fund Manager, Almi Invest, tel: + 46 070-2074125,

Maria Kessling, Head of Communications, Almi Invest, tel +46 76-880 88 10

About Almi Invest

Almi Invest is Sweden’s most active investor in startups. We make investments throughout the country through 8 regional venture capital companies and a national venture capital company in GreenTech. Almi Invest manages approximately SEK 3 billion and has since invested approximately 600 startups. Our best holdings have been acquired by Google, Microsoft, Qlik and Apple, for example, or listed on different stock exchanges. Almi Invest is a venture capital company within the Almi Group.

About Dapresy

Dapresy provides a highly visual data reporting software for market research and customer experience management. Market research agency and enterprise professionals in more than 25 countries are using Dapresy Pro to deploy visually engaging dashboards to clearly communicate complex data from markets, users and customers. The company’s unique dynamic dashboards are individually tailored, deploying the right data to the right people at the right time. For marketers looking to move beyond PowerPoint and Excel, Dapresy is the faster and far more effective way to easily present market research and customer experience information from multiple sources in a way that improves decision making. Founded in 2003, Dapresy has a headquarters in Sweden with a North American headquarters in Portsmouth, NH. The firm has several other client services offices around the globe.

About Verdane

Verdane funds help ambitious companies in software, e-commerce, energy and high technology industry with flexible capital for growth. The funds can invest either in individual companies or in several at the same time, so-called portfolio transactions. The latest fund, Verdane Capital IX, has 3 billion kronor to invest in fast-growing companies. Verdane Capital Advisors has 25 employees in offices in Stockholm, Oslo and Helsinki. For more information:

Categories: News


Rabobank and Signicat enter Dutch identity market

Rabobank and Signicat are entering the Dutch identity market together by providing digital services to businesses, supporting them in servicing their clients.

Read the full story on or read about it in Norwegian newspaper Adressa.

This joint Digital Identity Service Provider (DISP) offers a range of online login, identity, signature and archiving solutions under the banner of Rabo eBusiness. It provides optimal convenience for a range of businesses, including insurance, energy and leasing companies as well as other financial services providers. It simplifies and improves the digital transformation they are under pressure to achieve.

Rabo eBusiness helps businesses to shape their online services in an easier, more reliable and efficient way to achieve higher online conversion. Consumers can log onto the merchant’s website using one of the identity services provided by Rabo eBusiness and can then, for example, sign a contract online. The platform is easy to integrate into the existing business processes using API technology.

Rabobank will initially focus on five customer groups: energy, telecom and insurance companies, healthcare institutions and financial services providers. Rabo eBusiness services will make it easy for them to enable functions such as onboarding new customers, signing contracts digitally and offering a dashboard for invoices or expense claims.
The market for DISPs opened on 1st April 2017 within the framework of iDIN.

Alexander Zwart, responsible for Online Channels & Access at Rabobank, explains that Rabobank already has a good starting position, having: ‘Advisory skills, a large market share in the business market, operational services and a mature salesforce. In order to be able to offer technology and a high-quality and safe range of products, we have opted not to develop it ourselves, but instead to collaborate with a well-established strategic player. Signicat has a proven Digital Identity Service platform that is considered leading in the Nordics, a mature digital identity market.’

Signicat in turn wants to expand its presence in the Dutch market. Gunnar Nordseth, Chief Executive Officer of Signicat: ‘We have been operating for some time as an identity service provider in the Nordics and are currently expanding into other parts of Europe. The Netherlands is a strategically important market for us and a European hub that has great potential for digital identity, signature and archiving services. Collaborating with an innovative bank such as Rabobank gives us the opportunity to fulfil our ambition.’

The platform has been designed to grow in tandem with market demands and can consequently be expanded to include additional services. This lays the foundation for achieving Rabobank’s strategic ambition to help its customers with the digitisation of their services.

Categories: News


Hexagon appoints new Chief Strategy Officer

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Hexagon, a leading global provider of information technology solutions, today announced the appointment of Ben Maslen as Hexagon’s Chief Strategy Officer (CSO). As CSO, Mr. Maslen will be responsible for the development and execution of strategic initiatives to support Hexagon’s long-term growth and shareholder value.

Mr. Maslen has over 15 years of experience in the capital markets industry including being co-head of the European Capital Goods equity research team at Morgan Stanley. Prior to Morgan Stanley, he was an equity analyst at Bank of America Merrill Lynch and Lehman Brothers.

Mr. Maslen will officially assume the role of CSO in the summer of 2017 as part of Hexagon’s group management team, reporting to the President and CEO.

For further information, please contact:
Maria Luthstrom, Investor Relations Manager, Hexagon AB , +46 8 601 26 27,
Kristin Christensen , Chief Marketing Officer, Hexagon AB , +1 404 554 0972,

Hexagon is a leading global provider of information technology solutions that drive productivity and quality across geospatial and industrial landscapes.

Hexagon’s solutions integrate sensors, software, domain knowledge and customer workflows into intelligent information ecosystems that deliver actionable information. They are used in a broad range of vital industries.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 18,000 employees in 50 countries and net sales of approximately 3.1bn EUR. Learn more at and follow us @HexagonAB.

Categories: People


Epiris announces the sale of TechInsights

Epiris is pleased to announce that its portfolio company AXIO Group (“AXIO”) has agreed the sale of TechInsights, a leading intellectual property and technology services provider, to Oakley Capital. The sale, which is expected to complete in the next two weeks, is the seventh and final major realisation from AXIO’s portfolio and will conclude what has been an exceptional investment for Epiris and its investors.

Based on today’s exchange rates, Electra Private Equity PLC (“Electra”) will receive proceeds from AXIO of £26 million. The sale will increase the total cash proceeds received by Electra from its investment in AXIO to £455 million, equivalent to 5.0x original cost, and an IRR of 76%.

Based in Ottawa, Canada, TechInsights is the global leader in intellectual property consulting, patent brokerage and technical reverse engineering. TechInsights helps patent owners maximize the value of their patents through portfolio assessment, advising on strategic options, licensing and litigation support. In 2016 the business was combined with Chipworks, the leader in the intellectual property and technology services market, creating the clear global leader in advanced technology intelligence and technology founded patent advisory services.

Alex Cooper-Evans, Partner at Epiris, said:

“We are delighted to have agreed the final sale from the AXIO group of companies which will conclude what has been an outstanding investment for our investors, delivering an unlevered return of 5x cost and an IRR of 76%.

“The AXIO investment is a terrific example of the Epiris strategy at work. We bought a complex group of assets before transforming them with a programme of strategic and operational focus as well as investment in organic and M&A-led growth. This created a portfolio of high-performance growth businesses which has proven to be extremely attractive to trade and financial buyers alike.

“Henry Elkington and the rest of the AXIO management team have done an exceptional job in delivering this return and we look forward to finding another opportunity to work together.”

Henry Elkington, CEO of AXIO Group, said:

“We are delighted to have brought this investment to a successful conclusion. I speak for the whole management team in saying that this outcome would not have been possible without Epiris, whose vision and support have been invaluable.”

Alex Fortescue and Alex Cooper-Evans are responsible for the investment in AXIO Group.

Epiris refers to Epiris Managers LLP acting on behalf of its clients, including Electra Private Equity PLC.

Categories: News


Investment Plan for Europe: EIB supports MariaDB with financing for accelerated growth

The European Investment Bank (EIB) announced a EUR 25m funding of MariaDB, the company behind the fastest growing Open Source database, to support the company’s next stage of growth and database innovation. This EIB operation is guaranteed under the European Fund for Strategic Investments (EFSI), a key element of the European Commission’s Investment Plan for Europe, aiming at reviving investment in strategic projects around Europe.

This is the EIB’s first financing for MariaDB. The EIB funding will be used to further product innovation for MariaDB’s expanding global enterprise client base and increase its sales and marketing teams in Europe, America, and Asia. Specifically, within Europe, the company will expand its European operations with new engineering hires in Helsinki.

Industry analysts provide different estimates on the database market, but they agree that it is in the midst of a massive shakeup that will disrupt established legacy vendors as businesses around the world look to adopt modern, open source databases. Companies like Telefonica, DBS Bank, Teleplan and more are re-architecting their infrastructure to reduce costs and modernize their business.

Industry estimates on the adoption of open source and growth of the database market include:

  • IDC expects the overall database market to reach $50 billion by 2017, up from $40 billion in 2015, according to their worldwide database forecast.*
  • Gartner estimates that more than 70 percent of new in-house applications will be developed on open source databases, while 50 percent of existing commercial databases will convert to open source by 2018.**
  • The popularity of open source database systems has increased from 35 percent four years ago to a new record high of 46 percent according to DB-engines, which tracks database popularity.

Supporting Quotes:

EIB Vice-President Ambroise Fayolle, whose responsibilities include EFSI and innovation, said: “We are pleased to be partnering with MariaDB in this breakthrough operation as it will enable the EU bank to support a European software company particularly strong in innovation and with significant growth potential. This is also what the Investment Plan for Europe is about: strengthening Europe’s global competitiveness by supporting high-skilled employment opportunities and enhancing Europe’s position as a major technology supplier.”

Michael Howard, CEO of MariaDB Corporation, said: “The investment from the EIB accelerates our ability to expand our product capabilities and continue to develop features that make MariaDB the easiest to use, the easiest to extend and the easiest to deploy in any environment. This funding is part of a multi-step strategy to strengthen MariaDB across Europe, America and Asia, and will help foster the next phase of growth for the company.”

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Developing new, innovative products requires sustained investment. I am delighted that the Investment Plan is unlocking finance to facilitate MariaDB’s development programme, that includes expanding their engineering team as well as increasing international sales and marketing operations. Focus on innovation and research as well as reaching out to new markets will help the company succeed in a highly competitive market.”


Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2016 the EIB fostered projects in Finland with financing totalling EUR 2.22bn – an all-time record high for EIB commitment in Finland.

The Investment Plan for Europe, the so-called Juncker Plan, is one of President Jean-Claude Juncker’s top priorities. It focuses on boosting European investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing visibility and technical assistance to investment projects.

The European Fund for Strategic Investments (EFSI) is the central pillar of the Investment Plan. It provides a first loss guarantee, allowing the EIB to invest in more, often riskier, projects. The EFSI is already showing concrete results. The projects and agreements approved for financing under the EFSI so far are expected to mobilise over EUR 183 billion in total investments and support over 427,000 SMEs across all 28 Member States.

In September 2016, President Juncker proposed to extend the EFSI by increasing its firepower and duration as well as reinforcing its strengths. You can find the latest EFSI figures by sector and by country here.

MariaDB Corporation is the company behind MariaDB, the fastest growing Open Source database. MariaDB is the default in major Linux distributions like Red Hat, Ubuntu and SUSE, which in total reaches more than 60 million. MariaDB can be deployed in a hybrid, public or private cloud with technologies like Docker, Microsoft Azure, Amazon Web Services and OpenStack. Over the past year, the company expanded its product portfolio to include MariaDB MaxScale and MariaDB ColumnStore, enabling a broader range of use cases across the enterprise. MariaDB, with its commitment to community innovation and customer success, is the leading database preferred by developers and trusted by enterprises.

*IDC: Worldwide Relational Database Management Systems Forecast, 2015.
**Gartner: Emerging Technology Trends Create Opportunities for DBMS Cost Optimization, April 21, 2016.

Press contacts:

Alicja Chytla,, tel.: +352 4379 88233
Website: – Press Office: +352 4379 21000 –
Follow us on Twitter @eib

Cindy Clement
+1 303 241 4818
Follow us on Twitter: @mariadb

Bregal Unternehmerkapital supports the online printing platform Helloprint to accelerate its growth

Bregal unternehmerkapital

The European online printing market is growing and will continue to win significant market share from offline competitors in the years to come. Rotterdam-based Helloprint is a key player in the industry and one of Europe’s fastest growing online platforms, offering more than 2,000 products via its network of over 100 international printers. To increasingly benefit from the positive market development, Helloprint has entered into a long-term partnership with Bregal Unternehmerkapital and Project A, the Berlin-based venture capital investor, who are investing several million euros to acquire a minority stake in Helloprint via their holding Onlineprinters.

This investment will provide Helloprint with additional financial and strategic resources to continue accelerating its growth and to expand its platform business more rapidly. Currently, Helloprint provides printed products to more than 150,000 customers in the Netherlands, Belgium, France, Italy, the UK, Spain, Germany and Ireland.

Helloprint will use the injection of capital to enhance its IT systems, grow its team and implement new customer acquisition efforts. Thanks to the company’s service-oriented platform model, Helloprint is able to grow without major capex investments. The new funding follows a seed financing round providing start-up capital and several million euros in series A financing by private investors.

Bregal is excited to have found another strong partner in a very promising market and is looking forward to actively supporting Helloprint in its growth ambitions.

Press contact:

Dr. Reinhard Saller
Phone: +49 89 2000 30-30

Categories: News


Metronet (UK) targets superfast London growth with acquisition of Venus Business Communications


Metronet (UK), the UK’s fastest growing connectivity and internet infrastructure provider, backed by mid-market private equity firm Livingbridge, today announces its acquisition of Venus Business Communications, a leading high growth fibre network provider.

The acquisition of Venus follows Metronet (UK)’s £47.5m purchase of leading internet infrastructure and hosting company M247 in October 2016. Venus will provide the Group with access to the strategically important London market as it seeks to build a national disruptive platform with ‘last mile’ control, faster connectivity and communications to end users and a powerful transit network across Europe.

Venus will add six new strategically important datacentres to the Group’s network so that, following the acquisition, Metronet (UK)’s network is now connected to all key strategic UK data centre locations as well as 14 of the world’s largest and most important Internet Exchanges.

Founded in 2005 by telecoms entrepreneurs Brian Iddon and Justin Keery, Venus covers all of central London and the City, providing superfast, high speed fibre at up to 10 gigabit/sec, almost 100 times quicker than the leading alternative broadband connection. Venus is delivering revenues of £7.8m and supplies companies across a range of sectors including design, media, broadcast and financial services who place a particularly high value on low latency communications.

Metronet (UK) operates the most advanced hybrid ISP network in the UK and, by combining its unique offering of wireless and wired technology, is able to offer scalable connectivity solutions that are typically implemented five times quicker than traditional fibre and copper based services. As an organisation, it prides itself on connecting businesses through innovative, integrated technology for enhanced productivity. It does this through a number of complementary products and services, including; connectivity, hosting, voice and security; enabling businesses to access the tools they need to succeed on a 24/seven basis.

The combined Group will now employ around 230 people across six sites including Manchester, Newcastle, London and Bucharest. It will support almost 34,000 customers across 92 countries, from SMEs to Enterprise clients including Intu, On The Beach, Sofology and, and deliver revenues of nearly £50m.

Livingbridge first invested in Metronet (UK) in June 2014 as part of a £45m secondary buyout of the firm. Follow on funding to support the Group’s acquisition strategy and the investment in Venus has been made by the Livingbridge 5 fund.

Matthew Caffrey, Partner at Livingbridge, said:
“The acquisition of Venus neatly complements Metronet’s existing capabilities and will enable the business to build a world class wireless network in London on top of Venus’ core transit and last mile fibre capability. Metronet’s national services now include connectivity applications across the wireless and fibre spectrums as well as voice, security and hosting and we are very excited about the Group’s continued growth prospects.”

Lee Perkins, Chief Executive at Metronet (UK), said:
“Venus is a fantastic business which has established itself as a leading player in the London market thanks to its market leading levels of speed and reliability. Just as importantly, Venus has the same entrepreneurial and customer-centric culture as us so I have no doubt that it will be an excellent fit with our business.”

Brian Iddon, Director and Founder at Venus, said:
“I am immensely proud of the business we have built over the past 12 years and am excited about what we will be able to achieve as part of the Group’s wider offer. I have known Lee and the team for a number of years and feel that Metronet are the perfect fit for us as we look to build on the strong momentum we have generated to date.”

Categories: News


Onlineprinters to Acquire Leading UK Online Printer Solopress

Bregal unternehmerkapital

Investment in strongly growing UK market

Essex / Neustadt a. d. Aisch – Onlineprinters, one of Europe’s largest B2B online printing companies, is about to acquire Solopress, a leading player in the UK online printing market. Solopress was founded in 2004 and has grown significantly in recent years reaching 225 employees in 2016. With “print delivered tomorrow” Solopress is uniquely positioned to fulfil customer demand for speed and quality. Solopress’ founders Aron Priest and Andy Smith will continue to lead Solopress as Managing Directors and become shareholders of Onlineprinters Group. Last year Bregal Unternehmerkapital became the new majority shareholder of Onlineprinters partnering with Project A and founder Walter Meyer to lead the company to its next phase of growth.

The parties involved in the acquisition have agreed not to disclose details of the transaction.

Onlineprinters was one of the First Movers in online printing, and in 2016 produced over 2.1 billion printed items. Having expanded its clientele by 100,000 new customers in 2016, the company welcomed its 600,000th customer in January 2017 and currently has more than 650 employees. Onlineprinters CEO Dr. Michael Fries commented about the deal, “We are glad that Solopress with its premier position in the UK market will become part of the Onlineprinters Group. The experience of the founders Aron Priest and Andy Smith will be instrumental in developing our UK business and helping to further develop Onlineprinters as a European leader in online printing.”

“With Onlineprinters we have found a partner who is one of the pre-eminent international players within the European online printing sector. The Onlineprinters Group provides the right framework to continue the successful development of Solopress,” says Solopress’ Co-Founder Aron Priest.

Growth strategy

The UK is one of the major European printing markets which has recently begun to accelerate in the transition to online print. “With Solopress we have a partner with a well established brand in the UK, a broad customer base, knowledge of the market and an efficient production facility, with high quality standards. The acquisition of Solopress strengthens the market position of Onlineprinters as one of Europe’s Top-5 online print providers,” explains Dr. Michael Fries.

Award winning quality and service

Solopress has grown year-on-year and won seven prestigious awards, including ‘Business of the Year’ and ‘Business to Business of the Year’. Onlineprinters was awarded for excellent customer service several times in the past few years and has earned many commendations by renowned media outlets.

About Onlineprinters

Onlineprinters GmbH is one of Europe’s top online print providers. In line with the motto “Print simply online!“ the company sells printed products to 600,000 customers in 30 European countries through its 16 web shops. Internationally, the company is known under the brand name “Onlineprinters“; in Germany it operates under the name ““. The product range comprises of 1,400 printed products from business cards, stationery and flyers to catalogues, brochures and large-format advertising systems. The formula to successfully produce customised prints in terms of Industry 4.0 rests on three pillars: online sales, fully integrated production from ordering to shipping and gang run printing. The latter uses so-called combined forms to collectively produce print jobs, therefore minimising costs and reducing the environmental impact. Selected products allow customers to choose the option of same day printing (produced on the same working day), overnight delivery, climate neutral production and custom size specification. Onlineprinters GmbH employs 650 staff and produces over two billion printed items per year.

About Solopress

Solopress is one of the UKs largest independent online printers, offering a wide range of business related printed products, including business cards, leaflets, brochures, posters and banners. With the maxim “Print Delivered Tomorrow” the company ships over 85% of its print jobs within 24 hours of being ordered. Last year alone Solopress produced over 300,000 online orders, and hit the 1,000,000th order milestone in October 2016. Within Solopress’ two sites covering more than 63,000 sq ft. the company boasts an impressive plant list including; 7 Heidelberg Speedmasters, 5 Xerox iGens and 9 Polar guillotines. These machines combined with an internally developed workflow and superb customer service (rated Excellent on Trustpilot with over 8,500 reviews) have seen Solopress achieve double digit growth for twelve consecutive years.

About Bregal Unternehmerkapital

Bregal Unternehmerkapital is part of a family-owned business that has been built up over generations. Its investment activity is based on long-term commitment and independent of developments in the financial markets. Bregal Unternehmerkapital identifies companies, with strong management teams, that are regarded as market leaders or “hidden champions” in their particular segment. Flexible financing and transaction structures enable it to acquire both minority and majority stakes. In doing so, Bregal Unternehmerkapital is also able to handle complex industry spin-offs, management buy-outs and succession situations in a sensitive, non-dogmatic manner. Bregal Unternehmerkapital aims to help companies to achieve a sustained improvement in sales and profitability, and provides them with capital, proven financial expertise and access to a broad network of entrepreneurs and industry experts.

About Project A

Project A is an operational VC that provides its ventures with capital, an extensive network and exclusive access to a wide range of operational expertise. The Berlin-based investor makes use of the €260m in assets under its management to back early-stage companies in the digital technology space. With its unique organizational structure featuring 100 operational experts, Project A offers its portfolio companies hands-on support in the areas of IT, Marketing & Brand Building, Business Intelligence, Sales and Recruiting. The portfolio includes companies such as Catawiki, WorldRemit, Tictail, Contorion, nu3, and ZenMate. More about Project A on  and on our blog

Press contact Onlineprinters

Onlineprinters GmbH
Patrick Piecha
Head of Press & Public Relations
Phone:    +49 9161 6209807
+49 174 3077250

Press contact Solopress

Julia Murray
Digital Marketing Manager
Phone:    +44 1702 460047
+44 7702 202580

Press contact Bregal Unternehmerkapital

Dr Reinhard Saller / Florian Bergmann
Phone:      +49 89 2000 30-30

Press contact Project A

Project A
Konstanze Pflüger
Corporate Communications
Phone:      +49 30 340 606 321

Categories: News


Data Respons Acquires remaining 50% of TechPeople A/S

TechPeople A/S, a Danish consultancy specialist within application development, architecture and system designs as well as embedded solutions and IoT, is expected to become a fully owned subsidiary of Data Respons within 2 weeks.

“Data Respons is continuing its growth through M&A by acquiring TechPeople A/S, a Danish company we have followed closely through 50% ownership over the last 5 years. Their development and performance were contributing factors to reach full ownership. In addition to financial synergies, joint forces going forward increases our ability to take advantage of the digitalization megatrend”, says Narve Reiten, Deal Partner at Reiten & Co.

Reiten started investing in 1996 with capital from local institutional investors and family offices. Over the years Reiten have managed seven funds, of which currently three are active.

Categories: News


Cherwell Software Secures $50 Million Investment from KKR to Further Advance Service Management Leadership

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COLORADO SPRINGS, Colo., Feb. 27, 2017 — Cherwell Software, LLC, a leading provider of IT service management (ITSM) solutions, announced today that it has secured $50 million in funding from KKR, a global investment firm. KKR is making the investment through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services.

KKR joins existing Cherwell investor, Insight Venture Partners, which has made a series of investments beginning in 2012. With the support of KKR’s funding, Cherwell will accelerate research and development and make strategic investments aimed at broadening and deepening its portfolio of IT and enterprise service management offerings.

Vini Letteri, a member of KKR’s Technology, Media & Telecommunications industry team, will be joining Cherwell’s board of managers.

“The IT service management market is a large and rapidly growing sector undergoing a period of disruption as new, emerging technologies replace older legacy systems. With IT teams’ increasing importance within organizations, ensuring there is no interruption to IT services and that customer satisfaction is high are paramount to any business,” said Vini Letteri, Director, KKR. “Since its founding, Cherwell has been entirely customer-centric in its focus and is led by a seasoned, passionate, and industry-leading management team. Its platform provides unparalleled value and the ultimate flexibility to its customers to operate in any industry and in any environment—on premises, cloud, or hybrid. We are really pleased to partner with them to help accelerate Cherwell’s future growth and leadership in this dynamic industry.”

Named by IDC as the fastest growing vendor in its 2015 Worldwide Problem Management Software Market Shares report, Cherwell has become a force multiplier for IT organizations that need to become more innovative and agile, while reducing the total cost of ownership (TCO) of their service management initiatives. The ITSM market is widely known for expensive, inflexible tools supplied by vendors whose business practices are characterized by confusing licensing models and punitive pricing.

Cherwell has driven strong growth in the ITSM market by delivering:

  • A codeless platform that enables rapid solution customization and hassle-free upgrades
  • A transparent and straightforward concurrent licensing model, along with predictable, all-inclusive pricing
  • A “customers first” philosophy which has resulted in 98%+ customer satisfaction rate

“IT teams are increasingly abandoning their legacy service management tools in favor of powerful, modern, and agile solutions that empower them to confidently tackle business challenges and opportunities,” said Craig Harper, Chief Executive Officer of Cherwell. “KKR’s investment in Cherwell is validation that our core principles and areas of focus will continue to drive phenomenal growth and fulfill our goal of being the best service management solution on the planet.”

The KKR investment follows a particularly strong 2016 for Cherwell. 2016 highlights included:

  • Record bookings and a record number of new customers, including marquis brands across transportation, financial services, healthcare, retail, government, manufacturing, and higher education
  • Acquisition of Advanced Marketplace, an IT consulting firm specializing in development of business solutions for the Cherwell® Service Management platform, signaling Cherwell’s commitment to accelerate its delivery of enterprise service management solutions
  • Appointment of Craig Harper as Cherwell’s Chief Executive Officer; and Patrick Malaperiman, Vice President, EMEA
  • Establishment of strategic partnerships with Microsoft® Azure® and Amazon Web Services (AWS), demonstrating Cherwell’s continued commitment to customer choice through flexible deployment options including on-premises, SaaS hosted by Cherwell, or hosted on the public cloud—and the ability to switch any time at no cost

“Cherwell’s continued double digit market share growth can be attributed to the flexible and competitive licensing, deployment, and pricing options of its platform,” said Robert Young, Research Director, ITSM and Client Virtualization Software, IDC. “Likewise, with the company’s recent product enhancements in the performance and scalability of its platform, as well as public cloud hosting options and integrations, IDC believes that Cherwell is well positioned to increase its enterprise adoption and maintain an aggressive growth trajectory.”

About Cherwell Software

A global leader in IT and enterprise service management, Cherwell Software empowers IT to lead through the use of powerful and intuitive technology that enables better, faster, and more affordable innovation. The Cherwell® Service Management platform is built from the ground up with a unique codeless architecture that enables rapid time to value, infinite flexibility, and frictionless upgrades every time—at a fraction of the cost and complexity of legacy solutions. Because of Cherwell’s focus on delivering solutions that are easy to configure, customize, and use, IT organizations extend the Cherwell platform to solve a wide range of IT and business problems. With an unwavering commitment to putting customers first and being easy to do business with, Cherwell enjoys 98%+ customer satisfaction. Cherwell has a global network of expert partners serving customers in more than 40 countries. Corporate headquarters are in Colorado, USA, with global offices in the United Kingdom, Germany and Australia.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at and follow us on Twitter @KKR_Co or #KKRTMTGrowth for related news on KKR’s TMT platform.