Our investment in Mimo: Simplifying global payments and financial management for SMBs

Northzone

We are thrilled to announce our investment in Mimo, the platform simplifying global payments, cash flow, and financial management for SMBs and accountants. We’ve led this €18m round with participation from Cocoa Ventures, Seedcamp, Upfin VC, Fost Capital, and various angel investors including founders and early operators from Stripe, GoCardless, Wayflyer, and Anyfin.

Despite the fintech innovation of the past decades, when it comes to SMBs, payments and cashflow management continue to be a pain point. The processes are usually handled by a director on top of other duties or by a fractional CFO and involve a lot of manual work. Cashflow management is a timing problem and payments management a workflow problem. Beyond that, companies often fly blind, lacking real insights on their actual cash positions and future cashflows, which hampers their ability to properly plan ahead.

Over the years, we have spoken to multiple founders and fractional CFOs and repeatedly come across the time-consuming and fragmented processes SMBs face when managing money. The payer wants to pay as late as possible, while the payee wants to receive money as fast as possible. Without much negotiating power, small businesses are generally tight on cash; their options are to either take out expensive SME loans or pay their suppliers late to preserve and collect cash.

Today, SMBs often rely on a disjointed network of applications, including house banks, SaaS tools, and FX brokers, to manage their finances. Workflows are clunky and companies often keep track of their invoices in their email inbox, spreadsheets, or tools such as Xero. Furthermore, approvals between individuals go through a variety of touchpoints that are not purpose-built, creating unnecessary back-and-forths.

Over the past decade, we’ve seen a wave of neobanks and banks catered to SMB needs (including FINOM, also a Northzone portfolio company). While these banks replace old and unadapted incumbents, the administrative and cashflow challenges remain. In the UK, the average SME is owed a staggering estimated £22,000 in late payments every year.

Enter: Mimo. Founded by HenrikAlexander, and Andreas, Mimo is solving this problem with their holistic platform that simplifies global payments, cash flow management, and financial management for SMBs and accountants.

By providing a suite of financial tools that bundles the features needed for SMBs to better understand and control their cash flow, Mimo enables businesses, accountants, and bookkeepers to manage finances through a single platform. The platform allows SMBs to pay suppliers with a click, access working capital, and get paid faster by customers, in any currency. Mimo’s credit offering minimises risk and optimises working capital, empowering businesses to send and receive payments on their own terms.

Our Partner, Jessica Schultz, adds, “Having known Henrik for years, we are very excited to partner up with him and his co-founders Alexander and Andreas, who previously worked together at iZettle and know well what it takes to build and win in the financial SMB market. Companies today face a real pain when it comes to coherently managing payments, cash flow, and financing. We believe Mimo’s vision for a true financial management platform aligns well with our thesis. The commercial success Mimo is already seeing today is a testament to the team’s drive and market edge.”

With this new funding, Mimo will accelerate product development, expand its platform, and continue its commercial success. If you’re an SMB or finance professional looking to streamline your financial processes, join the Mimo movement at mimohq.com.

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Purple Digital Storytelling Announces Strategic Acquisition of PLANWORX AG

Holland Capital

Amsterdam, Munich,  April 9, 2024 – In a strategic move to transform the landscape of digital experiences, Purple Digital Storytelling (‘Purple’) announces the acquisition of the Munich based agency PLANWORX, thereby initiating The Storytelling Group. This acquisition marks a turning point in the digital storytelling space, offering an expanded portfolio of services that range from the creation of permanent installations to dynamic event-based storytelling.

The Digital Storytelling Universe
Purple, known for designing and delivering world class experience centers powered by their digital storytelling software ‘Hyro’, and PLANWORX, celebrated for their cutting-edge event experiences will jointly deliver unparalleled digital and live experiences, catering to a wide range of global brands and audiences.

The acquisition aims to benefit from the collective expertise of both companies while maintaining their unique identities and strengths. Purple’s design and technological abilities and PLANWORX’s dynamic approach to live marketing and events are expected to create synergistic outcomes, driving innovation, and expanding the industry of digital storytelling.

Joost Rueck, CEO of Purple and Chairman of the Storytelling Group, expressed enthusiasm about the new direction, “This acquisition is a game changer for us. Looking at this from a market perspective, it allows us to serve our customers better because of our increased reach and offerings. It’s a stepping stone to being a global player in digital brand experience solutions.”

Chris Boehm-Tettelbach, founder of PLANWORX: “Joining forces will allow us to establish a full-spectrum storytelling powerhouse capable of addressing every aspect of digital brand experiences from concept to execution. Using the latest technology we bring these narratives to life – in physical spaces, live events or online.”

Ewout Prins, Managing Partner Holland Capital, “The acquisition of PLANWORX is a significant step for Purple in becoming a true global player in digital and immersive experiences. We are happy that we have been able to support this cross-border transaction from our offices in The Netherlands and Germany. We look forward to supporting the team in their growth ambitions and will continue to keep an eye on the market for additional strategic acquisitions”.

Clients of Purple and PLANWORX can look forward to increased capacity, creativity, and services, enhanced by the shared knowledge, technology, and creative drive of both teams. This collaboration is expected to set new benchmarks in the industry, establishing The Storytelling Group’s commitment to be at the forefront of digital storytelling innovation.

About Purple Digital Storytelling

Founded in 2011, Purple Digital Storytelling, based in the Netherlands, specializes in capturing audience’s attention through innovative digital narratives and immersive experiences. Leveraging their Hyro storytelling software, they offer a full suite of services from strategy and design to content production, tailoring each project to its unique client’s and their specific needs. https://www.purplestorytelling.com/

About PLANWORX

PLANWORX, founded in 1987, is a digital creative agency celebrated for their cutting-edge event experiences. By using the latest technology, they bring these narratives to life – in physical spaces, at live events or online. PLANWORX sees itself as an enabler, digital pioneer, and creative catalyst for global corporations as well as medium-sized companies, bridging the communication gap between businesses, employees, and end customers. With a team of 50 people, PLANWORX operates from Munich. https://planworx.de/en/

About The Storytelling Group

The Storytelling Group is home to Purple Digital Storytelling and PLANWORX. With a focus on creating engaging narratives through digital experiences in physical spaces, The Storytelling Group is dedicated to pushing the boundaries of storytelling, serving a roster of renowned global brands, and setting new industry standards. https://thestorytellinggroup.com/

About Holland Capital

Holland Capital has been responsibly and successfully investing in promising Dutch and German SMEs with growth ambitions for over 40 years. The team understands entrepreneurship and fosters an open, sustainable, and professional relationship with the management teams of the invested companies, aiming for mutual growth. With offices in Amsterdam and Düsseldorf, Holland Capital focuses on Healthcare, Technology, and the recently added Agrifood-Tech sector. The firm actively supports Purple Digital Storytelling in both operational and strategic development since becoming a shareholder in December 2020.

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SunFire Announces Investment From KKR

KKR

NEW YORK–(BUSINESS WIRE)– SunFireMatrix, Inc. (“SunFire” or the “Company”), a leading software and tech-enabled services platform serving the insurance distribution and health plan markets, announced today that it has been acquired by funds managed by KKR, a leading global investment firm. Funds managed by Stone Point Capital LLC, the Company’s previous majority owner, will continue to be a significant minority shareholder in the Company. Financial details of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240402643144/en/

“We are excited to strategically partner with KKR, given our shared commitment to transforming the healthcare landscape. KKR and Stone Point’s support provides us with unique access and guidance, helping us to continue to grow and serve our customers and beneficiaries,” said David Graf, CEO of SunFire.

“SunFire is a leading, purpose-built platform with a culture of customer centricity and patient focus that we believe is highly differentiated,” said Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR. “We have been impressed by what Dave and the entire SunFire team have achieved and look forward to collaborating closely with them during the next phase of the Company’s growth.”

“We are thrilled to support SunFire in its mission to utilize industry-leading technology and best-in-class customer service to create a more seamless and reliable experience for patients, health plans, and its distribution partners,” said Johnny Kim, Director at KKR.

“We are delighted to continue our partnership with David Graf and Kevin Waldman and the entire SunFire team, and welcome KKR, in this next phase of growth for the Company. Over the past three years, SunFire has maintained its leadership position by developing innovative solutions to simplify beneficiary enrollment and to provide critical tools to agents and its carrier clients,” said Nick Zerbib from Stone Point Capital.

KKR is funding this investment through its Health Care Strategic Growth (HCSG) Fund II, which is focused on investing in high-growth health care companies to which KKR can be a unique strategic partner in helping reach scale.

Evercore and William Blair acted as financial advisors to KKR and SunFire respectively.

About SunFire

SunFire is a SaaS technology company providing transformative and proven IT solutions and services to support the rapidly growing Medicare market. SunFire’s core quoting and enrollment technologies enable brokers to compliantly sell Medicare Advantage, Prescription Drug and Medicare Supplement plans within a proprietary cloud-based platform. SunFire delivers innovative post enrollment engagement solutions providing third party verification technology and advocate services, ensuring the beneficiaries intent to enroll, health risk assessment completion as well as the activation of plan benefits. As a mission-driven company, SunFire is deeply passionate about their commitment to improving the lives of the senior community.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Stone Point Capital

Stone Point is an alternative investment firm based in Greenwich, CT. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in alternative asset classes, including private equity through its flagship Trident Funds and credit through commingled funds and separately managed accounts. In addition, Stone Point Capital Markets supports our firm, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit www.stonepoint.com.

Media:
Liidia Liuksila
(212) 750-8300
media@kkr.com

Anne Gilliland
(203) 862-2926
agilliland@stonepoint.com

Source: KKR

 

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Francisco Partners to Acquire Jama Software For $1.2B

Franciso Partners

Investment builds on an organic tripling of recurring revenue in 5 years to further extend the company’s leadership position in intelligent engineering management

PORTLAND, Ore. and LONDON, March 18, 2024 /PRNewswire/ — Jama Software®, an industry leading requirements management and traceability solution provider, announced today that Francisco Partners has entered into a definitive agreement to acquire the Company from shareholders including Insight Partners and Madrona Ventures for $1.2 billion. Marc Osofsky, Jama Software CEO, will personally reinvest and continue to lead the company.

“We are thrilled to work with Francisco Partners and leverage their expertise as we further accelerate our rapid expansion across enterprises, industries and continents”, said Marc Osofsky, CEO, Jama Software. “We thank Insight Partners, who have been tremendous supporters of Jama Software’s growth over the past six years.”

“The engineering management market is in the early stages of a fundamental transformation which Jama Software is at the forefront of. We are ecstatic to be partnering with Marc and his team in continuing to execute on their industry-leading vision and strategy”, said Petri Oksanen and Mario Razzini, Partners at Francisco Partners.

Jama Software has rapidly become a market leader in Requirements Management & Traceability and leads the market in customer satisfaction ratings, NPS scores, SaaS scale, security and SOC2 compliance, usability, performance, breadth and depth of integrations, measured process improvement, benchmarking, NLP and more. Jama Software helps companies intelligently improve their development process to reduce defects, delays, cost overruns and recalls.

“We’re delighted to have collaborated closely with Marc and the Jama Software team as they’ve navigated significant growth and emerged as a market leader,” said Richard Wells, Managing Director at Insight Partners. “As Jama Software embarks on their exciting new chapter of expansion and innovation, this acquisition by Francisco Partners reflects Jama Software’s success and the Company’s ability to consistently deliver exceptional value to customers worldwide.”

The investment by Francisco Partners is subject to customary closing conditions.

Evercore acted as the exclusive financial advisor to Jama Software and Insight Partners and Willkie Farr & Gallagher LLP acted as legal advisor. J.P. Morgan Securities LLC acted as financial advisor to Francisco Partners and Paul Hastings LLP acted as legal advisor.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch nearly 25 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

About Jama Software

Jama Software® is focused on maximizing innovation success in multidisciplinary engineering organizations. Numerous firsts for humanity in fields such as fuel cells, electrification, space, software-defined vehicles, surgical robotics, and more all rely on Jama Connect® requirements management software to minimize the risk of defects, rework, cost overruns, and recalls. Using Jama Connect, engineering organizations can now intelligently manage the development process by leveraging Live Traceability™ across best-of-breed tools to measurably improve outcomes. Our rapidly growing customer base spans the automotive, medical device, life sciences, semiconductor, aerospace & defense, industrial manufacturing, consumer electronics, financial services, and insurance industries.

For more information about Jama Connect services, please visit https://www.jamasoftware.com/

Media Contact

Karrie Sundbom

Senior Director, Corporate Marketing, Jama Software

marketing@jamasoftware.com

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Oakley Capital invests in Horizons Optical

Oakley Capital, the leading pan-European, mid-market private equity investor, is pleased to announce that Oakley Capital Origin Fund I is investing in Horizons Optical, a provider of medical software used to make premium spectacle lenses.

Origin is acquiring a majority stake in the business alongside CEO Santiago Soler, who will retain a significant share in the business and will continue to lead Horizons. As part of the agreement, Oakley is acquiring the shares in Horizons owned by Sherpa Capital, a leading private equity firm in Iberia.

Founded in Barcelona in 2017, Horizons’ proprietary and patented software is used by independent laboratories around the world to manufacture bespoke, ‘progressive’ lenses that can correct a range of eye conditions including short, mid and far sightedness as well as astigmatism, all in one lens. Lenses manufactured using Horizons’ patented technology are positioned in the highest value-added segments of the optical industry, standing out for their distinctive qualities and outstanding optical performance. 10 million lenses were produced with Horizons’ technology in 2023.

Horizon Optical

Horizons also provides equipment for opticians with the capability to scan consumers’ faces and measure relevant facial parameters for the manufacturing of lenses and frames.

Horizons has a strong, historical track record generating double-digit revenue growth. The fast-growing business is internationally diversified with Europe and the US each accounting for approximately a third of revenues, followed by APAC and South America.

Horizons operates in a lens market with strong, long-term growth prospects, underpinned by a growing ageing population and the increased incidence of vision conditions caused by excessive screen time on mobile phones and desktop computers. At the same time, Horizons is growing the market by developing tools to help opticians sell to more customers, including its recently-launched Mimesys virtual reality headset which enables optometrists to accurately measure customers’ eyes in order to produce bespoke lenses.

 

Oakley’s Investment

Oakley’s investment in Horizons reflects its strategy of partnering with founder-led, entrepreneurial businesses to help them innovate and accelerate growth.  Oakley will leverage its strong track record of building market leaders to help Horizon accelerate its international growth plans, taking market share as a high-quality, innovative solution for lens manufacturers and opticians looking to offer bespoke eyecare solutions for consumers, while also leveraging its strong market reputation for exceptional customer service. Oakley will also support investment into R&D and Sales & Marketing to ensure Horizons continues to win as an innovator and disruptor in its core markets.

News

Oakley Capital invests in Spanish transport and logistics software business Alerce30.10.23

This will be Oakley’s sixth deal in Spain, following vLex, Seedtag, Alerce, Grupo Primavera (now part of Cegid), idealista, and several education assets, reinforcing its commitment to Iberia as a key investment destination. It will also be Origin I’s 9th investment after which the Fund will be c.75% invested.

Quote Peter Dubens

Horizons Optical has all the hallmarks of a typical Oakley deal: a disruptive market leader, with strong software IP and led by an exceptional management team. We look forward to working with Santiago to help the business realise its full potential, taking advantage of strong market growth drivers as well as leveraging our expertise helping to scale software businesses including Grupo Primavera in Iberia.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Quote Santiago Soler

Our focus on quality, innovation and exceptional customer care have driven Horizons’ strong performance to date. Oakley clearly shares our values and so we are delighted to be partnering with the firm as we embark on the next stage of our expansion. We have travelled this path of growth alongside a strong partner in Sherpa Capital, to whom we are grateful not only for their investment in Horizons and belief in our potential but also for providing the company with a spirit of continuous improvement and excellence. We see enormous potential to further grow our international business, benefitting from Oakley’s expertise to expand our service offering and drive professional improvements across our business.

Santiago Soler

CEO — Horizons Optical

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Additional capital for app NeoTaste to continue international expansion.

Burdaprincipal

 

Last summer, Burda Principal Investment (BPI) led NeoTaste’s Series A funding round. Now, the growth capital provider of Hubert Burda Media is also participating in the next round. The app-based solution for connecting restaurants with their customers convinced BPI with its early traction, scalability, and network effects.

 

Scalability and network effects convinced BPI early on

The company raised €15.1 million in the current Series A extension which was led by European venture capital fund Earlybird.

The app is based on bringing consumers and restaurants together on the platform to create a win-win situation. Consumers receive exclusive dining deals and restaurants can expand their customer base. The service is free of charge for restaurants and funded by a subscription model on the consumer-side. Over the past six months, BPI’s portfolio company has shown impressive growth figures: In August 2023, 300,000 users were able to choose from around 1,300 restaurants in 13 German cities. Today, 750,000 consumers use the app, which provides them access to deals in more than 3,000 restaurants across 27 German cities. And the offer is continuously growing: the start-up is currently adding one new city to their offering every week.

Aiming for further international expansion and new features

Apart from expanding to multiple German cities, NeoTaste has also started to go international this year. Amsterdam, the first city outside of Germany, was launched in February and the capital from the current funding round will be used to continue international expansion. NeoTaste aims to make the app available in numerous additional German and European cities by the end of the year. Additionally, NeoTaste is planning new features to further enhance the digital interaction between restaurants and customers, including direct reservation capabilities.

“Our investment in NeoTaste in the summer of 2023 was a clear commitment to the company’s impressive growth and potential. The success beyond our expectations, especially in terms of expansion and internationalisation, reinforces our enthusiasm,” says Friedrich von Wulffen, Investment Manager at BPI.

“We look forward to continuing to work with Hendrik, Tobias and the entire team – now alongside Earlybird as a new and strong partner,” adds Julian von Eckartsberg, Managing Director Europe at BPI.

“”The last six months of collaboration between NeoTaste and BPI have been an incredible journey. Julian and Friedrich recognised the potential of NeoTaste early on and placed a lot of trust in us. We are very pleased that we have been able to turn this trust into action and results at an early stage. Receiving further capital just six months after the last funding round opens new doors for us. After a successful partnership so far, we are delighted that BPI is again participating in this round and continues to place its trust in us”, explains NeoTaste CEO Hendrik Sander.

Win-win for restaurants and consumers

NeoTaste Co-Founders Hendrik Sander and Tobias Düser launched the app in September 2021. After using the time during the covid pandemic, when restaurants were closed, to prepare their platform, NeoTaste was subsequently launched with first deals in Hanover. While subscribers benefit from offers – such as ‘two main courses for the price of one’ – the restaurant can use NeoTaste to promote itself, generate new customers and receive customer reviews.

Founding members of Neotaste: Tobias Düser and Hendrik Sander

Through the B2C platform, restaurants can offer exclusive deals and users can discover new locations

 

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Nordic Capital to invest in leading digital insurance payments network One Inc to drive continued growth and product innovation

Nordic Capital

Strategic investment will support One Inc’s mission to digitalize and modernize the insurance industry

Nordic Capital, one of the most active and experienced investors in Technology & Payments globally, today announced that it will join Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies, as an investor in One Inc (the “Company”), a digital payments platform specializing in modernizing the insurance industry in North America. Great Hill Partners invested in One Inc in 2020 and will retain an equal stake to Nordic Capital alongside a significant continuing investment from the Company’s current management team.

Founded in 2012, One Inc’s mission is to help insurance companies digitalize and modernize payments through cutting-edge technology that places customers at the center of every transaction. From premium payments to claims disbursement, One Inc strives to ensure a frictionless experience, merging all payment flows into one comprehensive platform. One Inc Digital Payments Platform is designed to integrate with modern and legacy insurance core systems, engaging policyholders through the channels they use most while securely processing payments through those same channels. Today, the Company has close to 500 employees, handles annual payments of USD 70 billion, and has one of the largest networks in the industry with over 700,000 vendors. One Inc proudly serves over 240 customers in the insurance industry, including Amica Insurance, MAPFRE, SageSure, Tower Hill Insurance, Wawanesa Insurance, and others.

The insurance industry faces a landscape defined by digital transformation, economic shifts, and environmental disruption, prompting it to innovate and optimize. One Inc’s payment network is well-positioned to accelerate and drive transformation, currently demonstrating over 65% year-over-year revenue growth.

Nordic Capital has over 30 years of experience accelerating the growth of innovative technology companies and is set to leverage its deep sub-sector and operational knowledge to create value and boost One Inc’s ambitious plans. Nordic Capital also has a long history of investing in partnerships with owners, founders, and management. It has made 30 technology investments in companies with an aggregate enterprise value of over EUR 24 billion. It made its first investment in Payments 20 years ago and has since partnered with several innovative payment companies, including Point International, Bambora, Trustly, and PayWithMyBank. In addition, Nordic Capital has invested in a variety of financial services businesses – including insurance carriers – for many years, bringing an extensive network of industrial advisors and an in-house operations team. This transaction represents Nordic Capital’s third investment in an innovative software company in North America in the last couple of months.

Fredrik Näslund, Partner and Head of Technology & Payments, and Mohit Agnihotri, Partner, Nordic Capital Advisors, said: “Nordic Capital is a longtime admirer of One Inc, which has stood out for solving the unique and complex challenges of digital payments in the insurance industry. Through its innovative solutions, the Company is transforming and simplifying payments for the entire insurance ecosystem benefitting carriers, consumers, and vendors alike. The management team, together with Great Hill Partners, has achieved impressive results. Nordic Capital is thrilled to be joining them for the next leg of the Company’s growth journey and utilizing our combined deep sector experience, extensive network, and active owner approach to fuel One Inc’s ambitious growth plans even further.”

Matt Vettel and Nick Cayer, Managing Directors at Great Hill Partners, said: “One Inc has been at the forefront of helping to shape the future of the insurance industry through digitalization and transformative products that seek to make the payment process as seamless as possible. Led by a seasoned and talented management team, the Company has consistently demonstrated its ability to innovate for customers. Since our initial investment in One Inc, the business has rapidly grown volume processed by 13x and is still early in market adoption, so we continue to have strong conviction in its potential to further scale. We welcome Nordic Capital to the investor group and look forward to combining our expertise with their deep industry experience to support the Company’s continued growth.”

Ian Drysdale, CEO of One Inc, said: “We have built an amazing business in collaboration with our insurer clients by putting them at the center of everything we do. We continue to see exponential growth and excellent customer loyalty, underscoring the strength of our model and industry-leading payments network of more than 700,000 vendors. The sector experience and resources that Nordic Capital and Great Hill bring to this partnership will fuel additional product innovation and drive new opportunities for growth as we continue to provide solutions that improve efficiency and boost revenue for today’s insurers.”

In addition to One Inc, Great Hill’s current portfolio of financial technology and payment companies includes NMI, Paytronix, Vanco and VersaPay. Prior financial technology and payment investments include Accelerated Payment Technologies, AffiniPay, BillMatrix, Chrome River, Confirmation.com, Custom House, MineralTree and Vigo.

Terms of the transaction were not disclosed, and the investment is subject to customary regulatory approvals.

Raymond James, J.P. Morgan and TD Cowen are serving as financial advisors and Goodwin Procter LLP as legal advisor to One Inc. William Blair is serving as financial advisor and Kirkland & Ellis as legal advisor to Nordic Capital.

 

About One Inc

One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications and rapid digital claim payments, even for more complex insurance use cases. As one of the fastest-growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments. For more information, please visit www.oneinc.com.

 

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested over EUR 25 billion in more than 145 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors.”

 

About Great Hill Partners

Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has raised over $12 billion of commitments and invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-2019[1]. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.

 

Media contacts:

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com

US media contact – Brunswick Group
NordicCapital@brunswickgroup.com


Great Hill Partners
FGS Global
greathill@fgsglobal.com
+1 212 687-8080


One Inc
Ana Pallas
Stanton Public Relations & Marketing
apallas@stantonprm.com
+1 415 867-6262

 

 

[1] Great Hill Partners did not submit a nomination to be considered for this list nor did it pay to be selected to/included on the list.

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Questel Achieves New Milestone for AI-Elevated Intellectual Property Solutions with Strategic Acquisition of qatent

IK Partners

Questel, a global leader in intellectual property (IP) management and technology services, is proud to announce the acquisition of qatent, a tech company whose use of artificial intelligence (AI) has broken new ground in the IP sector. This acquisition will bring forth a new era of sophisticated, AI-enhanced tools and services that will elevate global IP portfolio management. Questel’s acquisition of qatent represents key component of its strategy to integrate AI-driven solutions into software and services at a level never before seen in the IP industry. With its extensive generative AI expertise and proven applications, qatent aligns perfectly with Questel’s vision for elevated AI-driven IP solutions.

qatent emerged from the distinguished AI research center INRIA Paris and has since become a cornerstone of innovation in the use of AI for IP management thanks to the leadership of its diverse and international team. Founded by a French IP attorney and a leading German AI researcher, from the Université Paris-Saclay, a European scientific and technological excellence cluster, qatent is not only pioneering the application of AI technologies in patent search and drafting but has already achieved notable success in these areas.

Remarking on the acquisition, Charles Besson, CEO at Questel, said: “The significance of AI in our field necessitates an internalized approach which partnerships simply cannot offer. In addition to immediately impacting patent drafting and searching, AI will directly benefit several of our other products such as Equinox, our highly successful IPMS solution.”

Echoing this sentiment, François Veltz, CEO at qatent, said: “qatent has always positioned the IP practitioners at the heart of its strategy, with the aim of augmenting them through machine capabilities.” “The unparalleled richness and structure of the Questel global patent, trademark and design databases is an incredible learning ground for our algorithms and will quickly give more depth to our calculations,” added Kim Gerdes, CTO at qatent.

Joining the Questel group enables qatent to overcome several previously insurmountable obstacles; in particular, the confidentiality of customer data according to the ISO 27001 standard for information security, cybersecurity, and privacy protection.

Questel’s integration of qatent’s capabilities not only enriches Questel’s AI Labs network across France, Germany, the USA, and Japan but also reaffirms its position as a tech leader in the IP services sector.

About Questel

Questel is a true end-to-end intellectual property solutions provider to more than 20,000 clients and one million users across 30 countries. Around our cutting-edge IPMS Equinox, Questel offers a comprehensive scope of software and services for managing all types of IP assets (Patent, Trademark, Design, Domain Name, Copyright, etc.) including searching, analyzing, and watching, international filing, translation, renewals and recordals. These solutions, when combined with our IP cost management platform, deliver clients an average savings of 30-60% across the entire prosecution budget. For more details about Questel and our innovative solutions, please visit www.questel.ai.

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About qantent

Originating from the world-renowned INRIA Paris Research Center, qatent is a distinguished company committed to advancing intellectual property management through artificial intelligence. Founded by eminent figures in AI research and IP law, qatent is at the cutting edge of developing solutions that significantly improve the efficiency and effectiveness of patent research, drafting, and a wide array of IP services.

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BB Capital takes majority stake in health app VYTAL

BB Capital

THE HAGUE – BB Capital Investments has taken a majority stake in VYTAL, an IT platform specialized in digital total solutions for the sports and health industry. Both parties announced this today. The company from Alphen aan den Rijn will use the investment to expand its unique market position in the Netherlands and Europe.

VYTAL supplies a complete software package to support coaches in their business processes and coaching activities. The company has been active in the growing digital health solutions market since 2019. The nutrition app managed to develop into an innovative platform with a complete offering where users and providers come together. The entire team of ten employees remains active from the head office in Alphen aan den Rijn.

Stephan Laurs, founder and CEO: “With BB Capital on board, we can roll out our strategy to become the all-in-one platform for coaches even more effectively. Our mission is to create a real vitality movement where, on the one hand, we help our users to become and remain vital, while we give our coaches all the tools to support users in this. From business administration to community and marketing support.”

Susan van Koeveringe, Managing Partner BB Capital Investments: “VYTAL has a clear focus on building a digital platform within which all activities for coaches come together. With the knowledge and drive of the VYTAL team, we are working with ambition to offer a total solution in this growing but fragmented market. We are excited to build a strong and innovative company together, both through organic growth and through multiple follow-up acquisitions in the Netherlands and abroad.”

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Kinnevik leads funding round in Mews

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Kinnevik
Kinnevik AB (publ) (“Kinnevik”) today announced an investment of USD 41m in Mews, the leading vertical software and payments solution for hotels. In line with its priority to concentrate capital deployment and portfolio weight towards its highest conviction companies, Kinnevik led the USD 110m funding round valuing the company at USD 1.2bn post-money.

Kinnevik first invested in Mews in December 2022, and since then the company has continued to execute on its vision to create the leading platform for the new era of hospitality. The funding follows a year of significant growth, in which Mews achieved:

  • Over 60% increase in revenue year-on-year, crossing USD 100m in annualized net revenue
  • A significant increase in Gross Payment Volume to over USD 8bn
  • Over 16 million annual check-ins at hotels worldwide
  • Three new acquisitions (Frontdesk Anywhere, Hotello and Nomi), taking the total number of hospitality companies acquired by Mews to eight

The new funding sets Mews up for further growth and enables the company to prioritize global expansion, research and development and acquisitions. Mews aims to revolutionize hotel operations with its cloud-based system that integrates with thousands of other tech solutions. Today, over 350,000 hospitality spaces are managed via Mews across 5,000 customers worldwide, including Strawberry Hotels, The Social Hub and Airelles.

Kinnevik led the USD 110m funding round with an investment of USD 41m, alongside Revaia, Goldman Sachs Alternatives, Notion and new investor LGVP. The new funding values the company at USD 1.2bn, some 10% above Kinnevik’s assessed valuation in its 2023 year-end net asset value statement on a like for like basis.

Akhil Chainwala, Investment Director at Kinnevik, commented: “Matt and Richard are building a product and a team that is redefining the hospitality industry. In the short period of time since our initial investment, Mews has outperformed our expectations as it moved into new geographies and segments. Now, we are excited to further back the team to help them realize their ambitions and accelerate even more quickly – especially to extend the platform’s combination of software and payments. We’re looking forward to continuing this journey with Mews and being a part of the transformation that is happening across the industry.”

Richard Valtr, Mews Founder, commented: “We’re seeing a fundamental shift in the way the world’s leading hospitality brands are accelerating their digital transformation and reshaping the way they deliver hospitality. With this raise we will continue to build industry-leading products with a world-class team behind us. In five years, the way that hospitality brands and guests interact with each other will be completely different, with Mews leading the way.”

Matt Welle, CEO of Mews, added: “This funding is a credit to the strength of our vision, the Mews team, our forward-thinking customers and committed investors who have helped us get to where we are today. As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations, build more profitable businesses and deliver personalized guest experiences. Mews is in a unique position to truly transform the industry.”

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