ResiDex Software Secures Majority Investment from Accel-KKR

AKKR Logo

Menlo Park, CA, JANUARY 23, 2025 – ResiDex Software, a purpose-built EHR software platform for assisted living and senior care providers, today announced a majority investment from Accel-KKR, a leading technology-focused private equity firm. This strategic investment aims to accelerate ResiDex Software’s growth and innovation in the healthcare technology sector.

ResiDex Software, headquartered in Minneapolis, MN, enables efficient patient health recordkeeping, caregiving, tracking, and other key functions such as billing and CRM, while seeking to ensure regulatory compliance, particularly for assisted living and senior care healthcare providers. The North American assisted living software market, encompassing solutions like Electronic Health Records (EHR), was valued at approximately $17.97 billion in 2023 and is projected to reach $33.55 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.3% from 2024 to 20311.  Residex’s flagship product, RTasks, offers a fully integrated set of features to create effective workplace systems for assisted living organizations and group homes. RTasks streamlines work, enhances organization, and establishes systems of accountability, regardless whether for a large multi-campus organization or a small four-bed group home.

Chris Poelma, incoming CEO of ResiDex, commented, “We are thrilled to join forces with Accel-KKR. Their expertise in scaling technology companies and their commitment to our vision make them the ideal partner for our next phase of growth. According to US census data, the 65+ age population is expected to grow from 56.1 million people in 2020 to 73.1 million by 2030, representing a 30% increase over 10 years. This partnership will enable ResiDex to stay ahead of that growing need, serve our customers and take care of our seniors.”

Accel-KKR’s investment in ResiDex underscores its commitment to investing in innovative technology companies with strong growth potential. This partnership will leverage Accel-KKR’s extensive resources and software expertise to drive ResiDex’s continued success.

Phil Cunningham, Managing Director at Accel-KKR, said, “We are excited to partner with ResiDex, as it has demonstrated success in addressing the unique challenges of healthcare providers that run assisted care, senior care and group home facilities. We look forward to providing support to accelerate ResiDex’s growth and expand their market presence.”

ResiDex founder Dave Berg remarked, “This investment is a testament to ResiDex’s success in providing exceptional service to our customers over many years – and I couldn’t be prouder of our team’s accomplishments. With a backer like Accel-KKR and under Chris’s leadership, ResiDex will continue to thrive and innovate. I wish Chris and the entire ResiDex team the best of luck as they embark on this exciting new chapter.”

About ResiDex Software
ResiDex Software is a leading provider of electronic health record (EHR) solutions, offering a comprehensive suite of tools designed to streamline operations, enhance patient care, and optimize financial performance. Based in Minneapolis, MN, ResiDex Software serves healthcare providers globally, delivering innovative solutions that drive efficiency and growth.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments.  The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth.  At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.  Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives.  Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions.  Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.

Categories: News

Tags:

Workwize Raises $13 Million in Series A Funding to Disrupt IT Asset Management for Globally Distributed Teams

Klass Capital

The new funding will allow Workwize to enhance its AI-driven automation and strengthen its
operations with the launch of a U.S. office in early 2025.

Amsterdam, Netherlands. 16 January 2025. Workwize, a leading platform for global IT hardware asset management, today announced that it closed $13 million in Series A funding led by Klass Capital, with continued support from early-stage investors Peak and Graduate Entrepreneur Fund. This investment will fast-track Workwize’s integration of AI-driven automation, making it the first platform to fully automate the IT equipment lifecycle—from procurement and deployment to retrieval and disposal.

“IT teams worldwide are overwhelmed by the inefficiencies of managing equipment for distributed teams. They waste valuable hours on manual, repetitive tasks and getting caught up in complex vendor management,” said Michiel Meyer, CEO and co-founder of Workwize. “This investment further solidifies our vision of a barrier-free future where managing a global workforce becomes effortless and enables IT workflows to shrink from hours to minutes through smarter automation.”

A recent survey conducted by Workwize of over 150 global enterprises revealed that 48% of IT leaders prioritize ‘operational efficiency and automation.’ Workwize’s platform dramatically cuts IT management time from 27 hours to just 10 minutes per employee for tasks like procuring, deploying, managing, retrieving, and decommissioning IT equipment. What’s more, Workwize customers appreciate the platform’s ease of use, ensuring new hires receive the necessary IT equipment on their first day.

Fully automated hardware asset management: A breakthrough for IT leaders

Traditional IT hardware asset management platforms provide a centralized record of the locations and status of IT equipment, but moving equipment still relies heavily on manual interventions by IT teams. For example, if an overseas employee needs a laptop repair, an IT manager must coordinate with multiple international vendors: sending a shipping label and packaging to the employee, booking the repair, arranging and configuring a replacement laptop, seeking cost approvals, and more.

Once fully automated, Workwize’s AI-driven platform automates the entire lifecycle of IT equipment, eliminating the need for labor-intensive interventions. Workwize improves the efficiency and scalability of repetitive tasks so that IT teams can focus on strategic initiatives. AI and automation are also used to analyze IT assets needed and manage the lifecycle of an organization’s IT hardware inventory globally. The company provides its customers with flexible delivery options, including pre-configured laptops with Mobile Device Management (MDM) from local warehouses, ensures compliance with standards like ISO, repurposes phased-out equipment, prioritizes sustainability, and certifies services to wipe, recycle, or resell IT assets. This leads to significant time savings and delivers an experience that is ten times more efficient, allowing IT teams to be completely hands-off.

“Our investment in Workwize reflects our strong belief in its ability to revolutionize IT management for an increasingly global workforce that demands streamlined solutions,” said Will Anderson, Managing Partner at Klass Capital. “Workwize provides the efficiency and scalability modern enterprises need to thrive in today’s dynamic, borderless business environment.”

Strengthened global operations

In 2024, Workwize has grown more than 3x and its platform is already transforming IT operations for customers, including Adyen, Elastic, EQT, and HelloFresh. The new funding will enable Workwize to expand its global footprint and enhance operations with the launch of a U.S. office in early 2025. Workwize also plans to double its headcount in 2025.

For more information, visit www.goworkwize.com

TA Announces Completion of Tender Offer for Nexus AG

TA associates

BOSTON and LONDON – TA Associates (“TA” or the “Firm”), a leading global private equity firm, announced today that its holding company, Project Neptune BidCo GmbH, successfully completed its tender offer (the “Offer”) to acquire all outstanding ordinary shares and stock acquisition rights of Nexus AG (“Nexus”), a leading European software company in the e-health sector. This transaction, undertaken in partnership with the Management Board of Nexus, marks a significant milestone in Nexus’s journey, positioning the Company for continued growth and innovation away from a stock market environment.

The Offer, which commenced on November 11, 2024, for 70.00 Euro in cash per share, was completed as scheduled on January 3, 2025, at the end of the additional acceptance period. At the time of completion, the Offer was accepted for 16,402,668 Nexus shares, representing approximately 94.95% of all Nexus shares, including 26.9% which TA secured through irrevocable undertakings with key Nexus shareholders. All of such shares have been accepted for payment in accordance with the terms of the Offer, and TA expects to promptly pay for such shares.

Settlement of the Offer remains subject to customary regulatory conditions, including antitrust and foreign investment control clearances. Subject to the fulfillment of these conditions, settlement of the Offer is expected in Q1 2025, at which point TA intends to delist Nexus from the Frankfurt Stock Exchange, increasing its operational flexibility to focus on long-term growth initiatives.

“TA has followed Nexus’s growth trajectory for many years and admired its leadership in the European e-health market,” said Stefan Dandl, Director at TA. “With its modern technology platform, expansive product portfolio and unwavering focus on customer satisfaction, we believe Nexus is well positioned to capitalize on the growing demand for digital healthcare solutions.”

By taking Nexus private, TA aims to empower the Company to further strengthen its customer offerings, pursue strategic acquisitions and invest significantly in research and development, particularly in areas such as cloud computing and AI-driven solutions.

“We’re excited to partner with Ingo and the exceptional Nexus team to further advance healthcare software solutions that empower healthcare providers and improve patient outcomes,” added Birker Bahnsen, Managing Director at TA.

“Nexus has consistently delivered double-digit growth and strong financial performance,” said Dr. Ingo Behrendt, CEO of Nexus AG. “We believe our strategic partnership with TA will accelerate our ability to develop cutting-edge solutions that enhance the efficiency and quality of care for our customers. With access to significant new resources and greater flexibility to leverage industry tailwinds, we will continue driving value for healthcare providers who trust our platforms to power their digital transformation.”

“After careful consideration, The Supervisory Board and Management Board of Nexus AG unanimously concluded that this strategic partnership represents the best path forward for Nexus, its shareholders and customers,” shared Dr. Hans-Joachim König, Chairman of the Supervisory Board of Nexus AG. “We believe it creates immediate value for Nexus and are excited by the opportunities ahead.”

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

About Nexus AG
Nexus AG develops and distributes software solutions for the international healthcare market. With the clinical information system (Nexus / KIS) and the integrated diagnostic modules, we now have a uniquely broad and interoperable product range that can cover almost all functional requirements of hospitals, psychiatric clinics, rehabilitation and diagnostic centers within our own product families. Nexus AG employs around 2,030 people, owns sites in nine European countries and supports customers in further 71 countries, in some cases via certified dealers. Due to the continuously growing demand for Nexus products, we have been able to build up a large customer base in recent years and regularly achieve increasing sales and results. Further information on Nexus AG can be found at www.nexus-ehealth.com.

Categories: News

Tags:

IK Partners to sell GeoDynamics to Blinqx

IK Partners

Blinqx, a provider of cloud software solutions for small and medium-sized enterprises, corporates and service organisations, today announced that it has signed an agreement to invest in GeoDynamics (“the Company”), a leading Belgian software provider specialised in the development of innovative, high-quality and user-friendly applications for Human Resources (“HR”), planning and Financial Managers. Blinqx is acquiring its stake in the Company from the IK Small Cap II (“IK SC II”) Fund, a fund owned and managed by European private equity firm IK Partners (“IK”). Financial details of the transaction are not disclosed.

This transaction will see GeoDynamics become part of Blinqx as it looks to strengthen its software as a service (“SaaS”) solution for HR and Finance Managers. This new partnership underlines the international growth ambitions of both parties in the Benelux. Following completion of the transaction[1], GeoDynamics will continue to operate independently within Blinqx, under the leadership of existing Managing Directors and Co-Founders Stijn Stragier and Peter Vermeesch. Both Stijn and Peter will also become co-shareholders in Blinqx.

Founded in 2004 and headquartered in Kortrijk, Belgium, GeoDynamics is a leading SaaS platform that automates, digitises and innovates complex time and activity registration and payroll processing for over 3,500 customers, predominantly within the Construction, Service & Installation and Cleaning sectors. Typical GeoDynamics users are in planning, finance, fleet and HR and use this SaaS solution to save significant time on repetitive, manual tasks and easily comply with relevant regulations. Under the leadership of Stijn and Peter, in 20 years, the Company has grown into a professional team with a leading position in its home country Belgium and solid growth ambitions in the Netherlands.

Since the acquisition of GeoDynamics by IK in December 2020, the Company has delivered consistent year-on-year revenue and customer growth. With the support of IK’s experienced team in the Benelux region, GeoDynamics has expanded its leadership, middle management and commercial teams to support customer growth. The Company has also launched several new product features.

Peter Vermeesch, Co-Founder and Managing Director at GeoDynamics, said: “Blinqx is a SaaS player capable of transforming the markets in which it operates through a combination of sector expertise, new technologies and connecting the best software into a total solution. The entrepreneurship of the Blinqx team is evident in every interaction and has also proven itself successful in a short period of time. Bringing the progressive nature of both parties together now helps us both grow even further. For instance, in cooperation with Blinqx, we can bring new features to the market at an accelerated pace.”

Stijn Stragier, Co-Founder and Managing Director at GeoDynamics, added: “Together with Blinqx, we can further expand our footprint in the Netherlands. Additionally, we can start providing our existing customer base in Belgium with connecting software modules and solutions for HR and Finance Managers, which will allow our users to save even more time in their daily business operations. I’d also like to take this opportunity to thank Sander, Frances and their team at IK for all their support over the last four years.”

Sander van Vreumingen and Frances Houweling, Partners at IK Partners and Advisors to the IK SC II Fund, added: “Since investing in GeoDynamics over four years ago now, we remain impressed with the expertise and experience brought by Stijn, Peter and their high-calibre team. During our partnership with them, the Company has grown substantially and we are proud of all that we have achieved together. With its acquisition by Blinqx, GeoDynamics has found a new home where the entrepreneurial spirit of founder-led management serves as a strong unifying force. We wish Stijn, Peter and their new owners every success in the future.”

Ruud van der Kruk, CEO Blinqx, commented: “Welcoming GeoDynamics is a huge step forward in realising our international growth ambitions, as well as expanding our offering in the key sectors we serve. GeoDynamics’ solutions are a great addition to our existing products for HR and Finance Managers, in which we already offer strategic financial planning, workflow management, procurement and data intelligence for Business Services in particular. This expansion underlines our philosophy as a connector of progressive software into a total solution for the user.”


[1] Subject to approval by the Belgian authorities

For more information, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in over 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

Read More

About Blinqx

Blinqx is a provider of cloud software solutions that empowers business and financial service providers in their growth and success. Blinqx’s state-of-the-art software digitises and optimises the processes of some 200,000 users in various industries, including mortgage & insurance advisers, finance & HR managers, lawyers & legal professionals, accountants, and business service providers. With a track record of exponential growth since its inception in 2019, Blinqx aims to further expand in Europe. www.blinqx.tech

Read More

Categories: News

Tags:

Bridgepoint partners with Surikat, a leading SaaS provider of Supply Chain Solutions

Bridgepoint

Bridgepoint has announced its partnership together with the CEO and founder of Surikat, a leading provider of software solutions for the maritime and logistics sectors. The investment was made via Bridgepoint Growth II (BG II), its small-cap fund focused on supporting the continued global growth of dynamic, rapidly growing businesses across Europe and North America.

Surikat, headquartered in Gothenburg, Sweden, develops innovative software solutions for land-based and maritime logistics, addressing the complex needs of ports, terminals, and transportation operators globally. The partnership announced today positions Surikat for accelerated expansion and continued leadership on innovation within its market and reflects Bridgepoint’s commitment to supporting companies making use of technology to achieve transformational growth, with strong business models and profitability.

Surikat’s SaaS solutions are centred on its market-leading Terminal Operating System (TOS) and Transport Management System (TMS), which deliver real-time visibility, automation, and operational efficiency. Serving over 35 countries, Surikat has an impressive client portfolio, including Stena Line, P&O Ferries, and Kuehne+Nagel. The company’s highly scalable platform integrates seamlessly into clients’ IT ecosystems, driving measurable ROI while supporting safety and regulatory compliance with key stakeholders.

International demand for modern software solutions in ports and logistics is expanding rapidly, with the global addressable market forecasted to continue to grow at high double-digit rates annually for TOS and transport visibility solutions. This growth is underpinned by increasing adoption of cloud-based systems, regulatory demands, and a global push for greater transparency across supply chains. Surikat has already established itself as a trusted and leading provider in the high-growth niche of mission-critical logistics software for maritime and land based terminals, with an impressive 31% revenue CAGR from 2021 to 2024.

Under the leadership of CEO Andreas Karlsson, who will remain as a significant shareholder alongside Bridgepoint, Surikat will continue to pursue an ambitious growth strategy. Leveraging the depth of sector expertise across Bridgepoint’s global office network, Surikat will expand its presence across new geographies, further enhance its industry-leading software platform, and scale its operations, targeting adjacent markets such as intermodal and inland terminals as well as entry into additional high value geographies such as North America. Bridgepoint will provide strategic guidance and resources to reinforce Surikat’s scalability and position as a preeminent provider in the logistics software sector.

Andreas Karlsson, CEO of Surikat, added:

“Surikat has achieved remarkable profitable growth to date by consistently delivering premium, reliable, and highly innovative mission-critical software for our clients in the maritime and logistics sectors. This partnership with Bridgepoint marks the next exciting chapter in our journey. Benefitting from Bridgepoint’s sector expertise and breadth of resources globally, we are well-positioned to accelerate our expansion into new markets and continue setting new benchmarks for customer value and innovation in the logistics software space.”

Ann Dahlman, Partner at Bridgepoint Growth, commented:

“Surikat is a prime example of the innovative businesses we seek to support. Its cutting-edge software solutions and leading market position align perfectly with our strategy to back high-growth, profitable technology companies. Deploying the full breadth of sector expertise and resources across Bridgepoint’s global office network, we look forward to partnering with Andreas and the team to realize Surikat’s full potential in its European home market, and in exciting new geographies globally.”

The transaction closed in December 2024. The transaction builds on Bridgepoint’s track record of backing high-growth small-cap technology businesses in Europe, such as Condatis, one.network , TicTac as well as leading logistics software businesses such as Unifaun/Memnon, Sinari and PTV Group.

Bridgepoint was advised by Snellman (Legal Advisor), Roland Berger (Commercial Due Diligence), Crosslake (Tech Due Diligence), Alvarez & Marsal (Financial Due Diligence), Svalner (Tax Due Diligence). Surikat was advised by EY and Delphi as Legal Advisor.

Financial terms of the transaction were not disclosed.

Categories: News

Tags:

IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

HG Capital

Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally 

London, UK – 3 December 2024 – IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses.

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services.

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements.

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience.

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.”

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.

###

Media contact:  
IRIS Software Group
news@irisglobal.com

About IRIS Software Group 
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on FacebookTwitterInstagram and LinkedIn. More information on its award-winning software solutions can be found here.

About Dext 
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

Categories: News

Tags:

Nordic Capital-backed Regnology acquires VERMEG’s RegTech division – AGILE – to solidify position as a global market leader

Nordic Capital

Acquisition creates the largest global ecosystem connecting financial regulators and the regulated

Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today the acquisition of VERMEG’s regulatory reporting division – AGILE – which was previously part of the Lombard Risk portfolio. This strategic move underscores Regnology’s commitment to advancing regulatory reporting and solidifies its position as a global leader in end-to-end regulatory reporting solutions for large banks and other financial institutions seeking comprehensive and innovative offering from a single, trusted provider.

Through this acquisition, VERMEG’s robust regulatory reporting solution will be integrated into the Regnology Platform. The AGILE solution suite currently supports over 150 global and international banks spanning the UK, Europe, Asia Pacific, and North America. By incorporating this suite into its offerings, Regnology will enhance its ability to deliver flexible, end-to-end reporting solutions, ranging from comprehensive data management to report generation and submission, all powered by advanced cloud technology. This aligns with the company’s goal to support the transition to granular data and improve automation and data flow across organizations.

This acquisition also expands further Regnology’s international footprint and local expertise. Following the recent acquisition of CG3-1, the combined offering will support both broker-dealer and bank reporting for all types and sizes of regulated financial entities from Tier 1 banks and broker-deals to local community banks in North America. Similarly, the combined company has significant APAC coverage and customer base that includes banks in Hong Kong, Singapore, and Australia together with a number of major regulators across the region.

Rob Mackay, Regnology CEO, commented: “This consolidation marks a pivotal moment in our swift growth trajectory. Regnology will now have a truly global footprint in regulatory reporting to match our global leadership in supervisory collections. This gives us the ability to connect regulators and regulated financial institutions across the globe. We will continue to invest in our technology and our people and leverage our new locations to transform legacy reporting processes, at scale, into an efficient communication network.”

Badreddine Ouali, VERMEG Founder and Co-CEO, stated: “By joining forces with Regnology, AGILE will benefit from a broader global platform and enhanced opportunities for growth and innovation. This strategic move allows VERMEG to concentrate on our core strengths in Collateral Management and Insurance, ensuring we continue to deliver exceptional value to our clients. We are confident that this partnership will drive long-term success for both our companies and our dedicated teams.”

Lutz Kregel, Managing Director, Nordic Capital Advisors, added: “When investing four years ago, Nordic Capital saw great opportunities to support Regnology in transforming the regulatory reporting industry. Since then, the Regnology team has been working diligently, driven by a forward-looking and innovative vision, to ready industry stakeholders for the future of financial regulation, prioritizing efficiency and stability. Together, we’re now reaching a new milestone by looking to creating this global game-changer in regulatory reporting. Nordic Capital is excited about Regnology’s continued journey.”

About Regnology
Regnology is a leading global provider of innovative solutions for supervisory, regulatory and tax reporting. Over 35,000 financial institutions, 70 regulators and tax authorities rely on our solutions to streamline their processes, enhance data quality, and improve efficiency. Building on our unified data ingestion model, Regnology is uniquely positioned to support regulators in data collection and supervisory processes, and the regulated across the full regulatory reporting value chain. Leveraging the expertise of 900+ employees in 16 countries, we help clients navigate the complexities of an ever-evolving, data-intensive regulatory landscape.
For more information, visit www.regnology.net.

About VERMEG
Founded in 1993, VERMEG provides software solutions to over 500 blue-chip clients in more than 40 countries across the banking, insurance, and wealth management industries. The company’s high-quality platform offers best-in-class tools to automate processes and drive digitalization in financial services. Headquartered in Amsterdam with offices in 16 countries, VERMEG employs over 1,000 people worldwide. For more information, visit www.vermeg.com.

Press Contact
Mireille Adebiyi – Chief Marketing Officer
Email: mireille.adebiyi@regnology.net

Categories: News

Tags:

TEEPTRAK announces €5 million fundraising to drive global expansion and equip industrial manufacturers of all sizes and across all sectors

No Comments
Shift Invest

TEEPTRAK, European leader in industrial performance monitoring and a pioneer in connectivity and data analytics for production equipment, has announced a €5 million funding. This financing is supported by its longstanding investors, XAnge and EDF, along with a new lead investor, SHIFT Invest, an impact-driven European fund known for its strategic role in supporting innovative, sustainable projects. The round also benefits from an expertise and financial partnership with management consulting firm Sia Partners through its B2B startup investment vehicle.

TEEPTRAK announces €5 million fundraising to drive global expansion and equip industrial manufacturers of all sizes and across all sectors

 

This funding will allow TEEPTRAK to strengthen its presence in the American and Asian markets, particularly in the United States and China, responding to growing demand for its industrial performance monitoring and optimization solutions. By the end of the year, TEEPTRAK will open an office in Chicago and expand its subsidiary in Shenzhen, with the goal of hiring around 100 new employees over the next three years. The company also aims to expand its reach in Europe by opening offices in highly industrialized countries to provide local support to its clients.

 

Sustainable and High-Quality Solutions

TEEPTRAK is a trusted partner for manufacturers looking to improve their performance in a measurable way, often achieving productivity gains of 5-30%. With robust, sustainable solutions perfectly aligned with the reliability and performance demands of the manufacturing sector, TEEPTRAK provides companies with the tools to increase output, reduce costs, and maximize efficiency.

Designed and assembled in France, TEEPTRAK’s solutions feature components specifically designed to meet the requirements of industrial environments. With full control over the hardware, TEEPTRAK delivers cutting-edge technologies that enable manufacturers to monitor and optimize production in real-time, ensuring reliability and performance.

Innovative Technology Serving the Global Industry

With over 120 industrial clients in 30 countries and nearly 2,500 connected production lines or equipment, TEEPTRAK is a recognized leader in industrial performance monitoring. Its multilingual platform, available in 20 languages, gives manufacturers instant access to valuable performance data and enables continuous improvement through corrective actions.

Tangible Results at Every Step of Production

TEEPTRAK’s solutions cover four essential areas to enhance industrial performance:

  • Machine Performance: Real-time monitoring of all types of machines to maximize efficiency.
  • Operator Pace: Measurement and tracking of repetitive tasks to enhance team productivity.
  • Quality: Elimination of paper-based processes and manual entries through digital solutions for enhanced quality control.
  • Process Monitoring: Collection of physical data, such as energy consumption and vibrations, through standard sensors.

These advanced, easy-to-install solutions, thanks to rapid, non-invasive integration, allow TEEPTRAK’s solutions to adapt seamlessly to existing industrial environments, ensuring effective deployment and a quick return on investment with competitive pricing.

Additionally, TEEPTRAK offers a standalone Machine Learning platform that utilizes advanced AI algorithms to leverage data collected through its solutions, as well as customer-specific data independently. This AI platform provides manufacturers with tailored analysis and forecasting capabilities, maximizing operational efficiency and continuous process optimization. Two algorithms are available: anomaly detection and process optimization.

Growth and Innovation on a Global Scale

With this new funding, TEEPTRAK is positioned to become a global player in Industry 4.0, with rapid expansion planned in strategic regions and a continued commitment to innovation in service of industrial companies. This momentum enables TEEPTRAK to meet the growing demands for digitization, performance, and sustainability in the manufacturing sector.

“This is the first time that TEEPTRAK, now profitable and experiencing strong growth, has had such significant resources to increase awareness of its products and accelerate its development. This is a great opportunity for the company, its employees, our clients, and the environment. SHIFT Invest’s entry as a shareholder confirms the strong environmental impact of large-scale industrial performance improvement.”

François Coulloudon, CEO

“Manufactured goods are essential to our daily lives, but their production can be energy and resource-intensive, with the industry accounting for around 37% of global energy consumption. Making this sector more efficient has a major positive environmental impact. That’s why TEEPTRAK perfectly aligns with our fund’s commitment to making the industrial sector more sustainable.”

Bart Budde, Investment Manager at SHIFT Invest

This fundraising round marks a turning point for TEEPTRAK, providing it with the resources to amplify its impact and continue revolutionizing the industrial sector. With this support, the company is ready to push innovation further and deliver ever more efficient and sustainable solutions to manufacturers.

Empyrean Solutions Secures Significant Investment from Hg

No Comments
HG Capital

Woburn, MA. November 21, 2024 – Empyrean Solutions (“Empyrean”), a leading provider of risk and performance management software for financial institutions, today announced a significant strategic investment from Hg, a leading investor in European and North American software businesses. The Empyrean management team and current investors, TechVenture Investors and Spectrum Equity, will all remain shareholders. Spectrum Equity will also participate alongside Hg in the new transaction.

Empyrean’s platform solves mission critical challenges for finance teams at financial institutions, who historically have had to navigate large quantities of siloed data, antiquated software applications and slow, static modelling. With a modern, cloud-based platform where banks and credit unions of all sizes can connect and process massive data sets – spanning loans, treasury & funding positions, deposits and general ledger information all at a transaction level – Empyrean is transforming the ‘Office of the CFO’ for financial institutions.

While Empyrean started as a specialist in Asset & Liability Management (ALM), the platform today spans Budgeting and Planning, Profitability, Data & Analytics and many other key functions for the finance teams of financial institutions. With superior technology, deep domain expertise and a relentless focus on driving innovation, Empyrean is helping the CFO and their teams to navigate complex economic and regulatory environments, optimize their financial performance and make informed strategic decisions.

This transaction follows a period of sustained and rapid growth at Empyrean. During this time, the Company has achieved several financial and operational milestones:

  • Consistent Growth. Empyrean has grown revenue at 40% per year since 2017 through a combination of new customer adds and existing customers adopting additional software modules.

  • Compelling Customer Base. 270 total software customers — spanning small, mid-sized and large financial institutions — as of end of October 2024, including 70 new customers added over the last 12 months alone.

  • Multi-Module Capabilities. 110 customers have adopted Empyrean’s newly launched Budgeting and Planning module in the first year since launch.

  • Industry Recognition. ALM RiskTech Quadrant Category Leader and Category Winner for Financial Planning & Budgeting award by Chartis Research as part of its 2024 Chartis RiskTech 100 Awards

  • Large Bank Momentum. Recent addition of Ed Young, industry expert and former Fed risk specialist, who joins as Managing Director with a mandate to expand Empyrean’s growing base of banks with $100bn+ in total assets.

“Our strategy – replacing legacy software solutions and disparate datasets with a single, SaaS native and cloud-based platform – is gaining traction in the sector.” said Chris Maclin, Chief Executive Officer of Empyrean. “This new investment and our partnership with Hg will enable Empyrean to better address the needs of financial institution CFOs, and drive innovation in a space where it is desperately needed. We’re thrilled to welcome Hg as a new investor as we embark on the next phase of Empyrean’s journey.”

“Hg’s knowledge of software businesses and their proven track record partnering with companies across growth initiatives will be invaluable as we continue to innovate and expand our reach,” said Raffi Festekjian, Managing Director at TechVenture Investors. “We are also pleased that Spectrum Equity will remain actively involved as we work together to realize our shared vision of delivering to the financial services industry a comprehensive ‘Office of the CFO’ platform that is a single source of the truth, further solidifying our strong position in the industry.”

“The Empyrean success story is still in its early innings,” said Farouk Hussein, Partner at Hg. “Our knowledge of the ‘Office of CFO’, experience in banking software, and extensive work across this sector confirmed Empyrean’s unique positioning. We are impressed by Empyrean’s management team and their approach to launching new products that solve financial institution CFO customer pain points, and we look forward to backing Chris and partnering with the existing shareholders and management team.”

“This is exactly the right time for Empyrean to bring on a like-minded growth investor like Hg to help Empyrean realize the company’s full potential. The next chapter of growth at Empyrean will see the company stay true to its core mission but also pursue new growth initiatives like international expansion and penetration of the largest US and global financial institutions” added Adam Margolin, Managing Director at Spectrum Equity.

Piper Sandler is serving as exclusive financial advisor and Choate, Hall & Stewart LLP as legal advisor to Empyrean. Raymond James is serving as exclusive financial advisor and Kirkland & Ellis LLP as legal advisor to Hg.

The terms of the transaction have not been disclosed and is subject to closing.

Categories: News

Tags:

Septeo Group welcomes new investors Téthys Invest and GIC

HG Capital

Montpellier, France, November 22, 2024. Septeo Group (“Septeo”), a leading provider of mission-critical software for regulated verticals, today announces that it will welcome two new minority investors to the business: Téthys Invest, the investment holding company of the Bettencourt-Meyers Family, and GIC, a leading global investor.

These investors will join Hugues Galambrun, the founding CEO of Septeo, as well as the management team. Hg, a leading investor in European and transatlantic software and services companies, will also remain as Septeo’s majority investor, recognising the company’s long-term growth potential.

“To stay ahead in our sector and emerge as one of the largest European software companies, significant investment in research and development is necessary. We are therefore pleased to welcome two new, long-term investors to the group. Furthermore, the management team and I are proud to show that French businesses, when they continue to innovate and serve their customers well, can grow and remain attractive to the investor community,” Hugues Galambrun, CEO of the Septeo Group, commented on the transaction, which values the group at over €3 billion.

The arrival of these two new shareholders (Téthys Invest & GIC) establishes Septeo as a long-term player in software. It also strengthens the company’s anchoring in the French and European sector. This new funding round celebrates the success of the group to date, created 11 years ago, originally providing software solutions for Notaries and Lawyers. In just a few years, Septeo has become a major French player in the tech industry, in the rapidly evolving fields “essential to each and every one of us” such as Legaltech, Real Estate, Human Resources, PropTech and Hospitality Tech.

With a turnover of €420m in 2024 and over 3,100 employees, Septeo invests €50m per year in R&D, a significant part of which is in its “Brain” AI program.

Through this process, supported by financial advisor Arma Partners, Septeo aligns itself with long-term shareholder partners, allowing it to meet investment and innovation needs to fulfil the expectations of its clients in a context of globalized technological competition.

The transaction is expected to close following customary regulatory approvals.


For further information, please contact:

Septeo
Chloé Bondroit
Chloe.bondroit@septeo.com

Hg
Tom Eckersley
tom.eckersley@hgcapital.com

About Septeo

Septeo, a French group founded in the Montpellier region, is the leading player in LegalTech and PropTech in France and Europe. Our software solutions enable more than 200,000 legal and real estate professionals to develop and secure their activities every day. Our mission: freeing businesses from their constraints, thanks to technological solutions and innovative services. Our solutions are at the heart of the essential moments of life of more than 20 million of our fellow citizens. https://en.septeo.fr/

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterized by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well. With a vast European network and strong presence across North America, Hg’s 400 employees and $75 billion in funds under management support a portfolio of more than 50 businesses, worth over $160 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.

Categories: News

Tags: