Tag Archives: Information technology

SWIF Maven Equity Finance invests in Microsoft adoption specialist

Maven

Bristol based digital consultancy business Changing Social receives £1.6 million investment to support its ambitious growth plans.

Published: Sep 17, 2024
Focus: SWIF Maven Equity Finance

Microsoft adoption specialist, Changing Social has secured investment from SWIF Maven Equity Finance, part of the South West Investment Fund, managed by the British Business Bank .

Founded in 2018 by Steve Crompton and Georgie Kemp, the leading Microsoft Partner supports businesses with the adoption and integration of AI, Microsoft 365 & The Power Platform. Globally, it is predicted that organisations will spend $3.4 trillion by 2026 on digital transformation projects which could increase to as much $6.5 trillion, driven by Generative AI advancements in workplace technologies.

Changing Social offers a broad spectrum of services designed to help its clients understand what changes are needed, conducting in-depth discovery sessions to tailor an adoption and change management strategy to give customers a clear roadmap and options for additional services.  The business has built an impressive customer base including Arriva, Imperial Brands and Marriott Vacations Worldwide.

Changing Social will invest its delivery and sales teams at its new Bristol headquarters and help expand market reach in the UK and internationally. Funding will also invest in its marketing activity to drive further growth and support its operations to continue delivering quality services to its growing client base.

“We’re delighted to invest in Changing Social, making it part of our growing portfolio in the South West. From its base in Bristol it has a track record of working with clients across the UK and US, and is an example whereby the experienced, ambitious management team was a clear attraction. The South West Investment Fund was set up to support local businesses like Changing Social, a business with huge growth potential based in the heart of our region, and we are excited to support Steve and his team as they look to grow further.”

Luke Matthews, Partner at Maven

“Partnering with Maven Capital Partners marks an exciting new chapter for Changing Social. This investment will enable us to scale our operations, enhance our service delivery, and expand our reach both domestically and internationally. We are committed to helping organisations unlock the full potential of their Microsoft investments, and with this support, we can drive even greater impact and innovation in the AI and digital transformation space. We are grateful for Maven’s confidence in our vision and look forward to a successful collaboration.”

Steve Crompton, CEO at Changing Social

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“The South West Investment Fund is designed to provide crucial funding that empowers growth in businesses across the region. The South West is home to a wealth of pioneering companies, from leaders in sustainable packaging to those pushing the boundaries of technology like Changing Social. We are delighted that several businesses capitalised on this opportunity in the last quarter, securing over £5m in equity investment through our funding partners. We encourage any business considering its next step to explore how the South West Investment Fund could unlock new potential.”

Jodie Tableporter, Director at the British Business Bank

SWIF – Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the South West of England. The Fund has also backed sustainable packaging innovator, Kelpi, global wireless solutions provider Blu Wireless, and healthcare buy and build operator, Covestus.

If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >

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Gearset acquires Clayton to strengthen Salesforce DevOps offering

Adds application security and code quality capabilities to expand ecosystemʼs most complete solution Cambridge, UK—September16,2024— Gearset, the leader in Salesforce DevOps solutions, today announced the acquisition of Clayton, a cutting-edge code analysis platform designed specifically for Salesforce.

The strategic acquisition is Gearsetʼs first, following years of rapid growth fueled by a $55 million growth investment from Silversmith Capital Partners. In that time, Gearset has launched several products and upgrades, and reached the milestone of surpassing 2,500 customers — four times more than any other Salesforce DevOps vendor.

Clayton has a unique approach to Salesforce DevSecOps: identify anti-patterns and vulnerabilities early during development and remediate recurring issues with automated code corrections. Clayton has helped find and correct thousands of vulnerabilities in some of the largest Salesforce orgs on the planet.

The integration of Claytonʼs technology into Gearsetʼs DevOps suite will enable Salesforce teams to quickly and easily build secure and well architected applications, and underscores Gearsetʼs commitment to delivering best-in-class solutions that optimize the entire DevOps lifecycle, from code quality to secure deployments.

Kevin Boyle, CEO at Gearset, said, “Salesforce development teams today need more than just speed — they need confidence in the quality and security of their code as they scale. The acquisition of Clayton allows us to address this need head-on by offering our customers advanced code analysis tools that streamline the development process and improve code quality from the ground up. Claytonʼs deep expertise in this area aligns perfectly with our mission to empower teams with the most robust, reliable solutions available, ensuring our customers can focus on innovation for their business, while Gearset takes care of the heavy lifting in DevOps.ˮ

Lorenzo Frattini, founder and CEO at Clayton, stated, “We started Clayton with a true passion: making it easy for teams to write secure, high-quality business apps on Salesforce. We are thrilled to join Gearset. They have built a fantastic DevOps platform that customers love. Together, we can make modern DevSecOps accessible to many more Salesforce teams, making it easier to build secure, well-architected applications at scale.ˮ In the immediate term, Clayton will continue to operate under its own brand within the Gearset family, ensuring uninterrupted service for existing users. As the integration of teams and technologies progresses, customers can expect a unified platform that delivers an even more powerful suite of tools to drive Salesforce DevOps success. Financial terms of the deal were not disclosed.

About Gearset Gearset is the leading Salesforce DevOps platform, with powerful solutions for metadata, data and CPQ deployments, CI/CD, automated testing, sandbox seeding, archiving and backups. It helps Salesforce teams apply DevOps best practices to their development and release process, so they can rapidly and securely deliver higher-quality projects. Gearset is a uniquely reliable solution trusted by thousands of global enterprises, including McKesson, Accenture, and IBM. For more information visit www.gearset.com

About Clayton Clayton is the modern code analysis platform for Salesforce. Itʼs the only developer-first solution that catches, blocks, and automatically fixes bad code, helping you build secure and well-architected Salesforce applications fast.

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Spectrum Equity Announces Sale of Datassential

Spectrum Equity

BOSTON and SAN FRANCISCO, September 13, 2024 – Spectrum portfolio company Datassential, the leading global food and beverage intelligence platform, today announced a strategic investment from New Mountain Capital and Endicott Capital.

Spectrum and Datassential’s partnership began with Spectrum’s investment in 2019, the product of a multi-year relationship. “We knew from the beginning that Datassential’s unique data was highly valued by its customers across a wide variety of important use cases,” says Jeff Haywood of Spectrum Equity.

Datassential co-founder Jack Li says, “Spectrum was the right partner to see us through a pivotal stage of growth. They respected our leadership, supported us in our vision, and – from day one – understood what was needed to fully unlock our platform’s value.”

Between 2019 and today, Datassential has undergone a period of evolution, including more than tripling its customer count, launching several new products – such as Report Pro and Price Monitor – and completing the acquisition of CHD Expert Group, solidifying their position as the world leader in foodservice data.

“So many industries today are hungry for hyper-relevant, sector-specific insights,” says Michael Radonich of Spectrum Equity. “We’ve seen this play out with companies like Definitive Healthcare and the healthcare industry, Benchmark Mineral and EV supply chain, or Lighthouse and hospitality. Datassential has filled a long-standing gap for the food and beverage industry, and their success is a testament to how critical that data is.”

“Working with Spectrum over the past several years has been instrumental in helping us scale our platform and expand our offerings,” says Jim Emling, who became Datassential’s CEO in 2022 after being appointed a board member in conjunction with Spectrum’s investment in 2019. “Their partnership allowed us to stay focused on innovation while growing our capabilities. As we enter this new chapter, we’re excited to further elevate our client offerings and continue shaping the future of the food and beverage industry.”

“We’re extremely proud to have been part of the Datassential story, and to have partnered with their incredible leadership team,” says Jeff Haywood. “We want to thank the entire team for their efforts and are confident the food and beverage industry will continue to benefit from Datassential’s innovation.”

Aeris Partners LLC served as the exclusive financial advisor and Latham & Watkins LLP served as legal advisor to Datassential and Spectrum Equity. Solomon Partners served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor to New Mountain Capital.

ABOUT DATASSENTIAL

Datassential is the leading global food and beverage intelligence platform providing guidance on trends, competitive benchmarking, and sales intelligence. Through a suite of AI-powered solutions, an intuitive UI, and proprietary data, the food and beverage ecosystem relies on Datassential to more effectively develop, market, and sell their products. Founded in 2001, Datassential powers insights and sales intelligence for brands including Burger King, DoorDash, General Mills, Land O’ Lakes, Pepsi, Starbucks, Target, and more.

ABOUT SPECTRUM EQUITY

Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 30 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading Internet-enabled software and data services companies. Representative investments include AllTrails, CINC Systems, Definitive Healthcare, Empyrean Solutions, GoodRx, Kajabi, Lucid Software, Origami Risk, RxVantage, and Zenwork. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com.

The specific companies identified above do not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable. View the complete list of our portfolio companies. Spectrum is not responsible for the contents of any third party website linked above, and has not confirmed the accuracy of any information provided therein.

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Maven achieves 4.7x return from partial realisation of Novatus Global

Maven

Investment by US private equity firm marks a two-year period of rapid growth for the RegTech specialist.

Published: Sep 12, 2024
Focus: Growth Capital

The Maven VCTs have partially realised their investment in Novatus Global (Novatus), a leading RegTech solutions provider, as part of a $40m investment in the company by US-based private equity firm Silversmith Capital Partners.

The transaction comes just over two years after Maven’s VCTs first invested in the company and delivers a 4.7x total money multiple return for shareholders, inclusive of an ongoing minority stake in the business.

Founded in 2019 by entrepreneurs Andrew Hedley and Matthew Ranson (pictured), Novatus was established to create a tech-driven solution to better manage risk and regulation. Its award-winning transaction reporting technology and advisory solutions support a growing base of blue-chip clients in the financial services sector, helping them navigate the increasingly complex regulatory landscape. Novatus’ proprietary scalable En:ACT software allows clients to perform complex regulatory checks and identify issues within seconds, reducing costs and simplifying compliance.

Maven’s VCTs first invested in Novatus in July 2022, with the funding allocated to expanding the team of technical advisors, enhancing sales and marketing efforts, and further developing its cutting-edge RegTech offering.

During Maven’s investment period, Novatus significantly increased its annual recurring revenues by 13-fold, more than doubled its headcount, expanded internationally and made several strategic hires to its senior leadership team. The company has also established global sales partnerships which is expected to further accelerate the company’s growth and increase access to the company’s En:ACT technology.

“Maven’s partial realisation of its investment in Novatus is a fantastic result for our VCT shareholders whilst retaining an ongoing minority shareholding reflects of our continuing belief in the company and its future growth potential. As early investors who backed management to develop their market leading En:ACT technology, it’s gratifying to see the level of interest that there has been in the company from investors, culminating in today’s significant investment from Silversmith. This is testament to the founders Andrew and Matt and the growing team at Novatus who have excelled. The trust that its clients put in Novatus and the regulatory complexity driving the need for the En:ACT solution has driven real value in the Novatus business.

With new investment from Silversmith alongside Maven’s ongoing support we are confident that Novatus will continue to deliver for its clients, including further international expansion, notably in the US and are excited to be part of that journey.”

Alan Robertson, Partner at Maven

“We are incredibly proud of the value we’ve delivered to our clients and of the trust Maven placed in us early on. This new investment will allow us to accelerate our growth aspirations and be recognised as the industry leader in developing specialist technology and expert-led advisory services that address our clients’ mission critical challenges, while fuelling our ongoing international expansion, particularly in North America.”

Matthew Ranson, Co-founder at Novatus

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Why We Invested In Strider

Pelion leads $55m Series C for Strider

Strider Technologies: The Category-Defining Intelligence Powerhouse You Haven’t Heard Of (Yet)

Utah has quietly become home to what we believe will become one of the most critical, category-defining technology companies of our time: Strider Technologies (Strider). You may not have heard of them yet, but that is about to change. Yesterday, Strider announced a $55 million Series C funding round led by Pelion Venture Partners, AXA Venture Partners, Valor Equity Partners, Data Tribe, and Cyfr Capital. While they have garnered press from outlets like the Wall Street Journal, we believe this is just the beginning of Strider’s story.

We’ll dive into what they do shortly, but first, we want to share why Pelion decided to write the largest check in our history.

Although our journey leading Strider’s Series C officially began on December 22nd, 2023, the interest had been building for some time. Several at Pelion had been tracking Strider’s progress and recognized a critical inflection point, driven by both shifts in geopolitics—major tech companies like Google and Microsoft were being hit by nation-state actors, sometimes even from within—and Strider’s evolving momentum. It became clear that something significant was happening. Not to mention that when managing partners are ready to personally invest millions, you pay attention. So, the team visited Strider’s office.

That December day, the office was nearly empty for the holiday break, but the Strider team was still hard at work late into the evening. The energy was undeniable. After spending just a few hours with two of Strider’s three co-founders (and identical twin brothers!) Greg and Eric Levesque, two things were clear: these founders were destined for greatness and building category-defining technology in a massive, underserved market—all while making a meaningful difference in the world.

It felt inevitable. It felt big.

From that moment forward, our team knew Pelion had to be a part of it and we hoped Greg, Eric, and Mike Brown, the third co-founder and tech guru, would consider Pelion as a potential lead investor.

Fast forward to June 2024 at the annual client conference, Strider Summit, where we had the privilege of attending alongside experts from the intelligence and security communities. We quietly took seats in the back. As we introduced ourselves to the person sitting next to us, we learned that he was the leader of quantum security at one of the most recognizable software companies in the world. When we asked his thoughts on Strider, his immediate response was, “There’s nothing out there like Strider.” He went on to emphasize that managing insider risk will only grow in importance and that every software company should be talking about this.

Next, we were able to chat with the Managing Director of one of the world’s most prominent banks. He described Strider’s impact on their security operations as “magical.” These were not isolated comments; they echoed in conversations we had encountered throughout our diligence process and throughout the rest of the summit. The room was filled with C-suite executives from some of the largest Fortune 100 companies spanning every imaginable vertical: software, manufacturing, financial services, government, higher education, and more. The level of enthusiasm and respect for Strider’s technology was palpable.

Adding to all this is the fact that Strider has recruited some of the most accomplished leaders in global security. David Vigneault, former Director of the Canadian Security Intelligence Service (CSIS), has joined Strider as Managing Director of the Global Intelligence Unit. Paul Maddison, former High Commissioner of Canada to Australia and Commander of the Royal Canadian Navy, has come on board as an advisor alongside Admiral (Ret.) Craig Faller, former Commander, U.S. Southern Command.

The roster is STACKED.

As for Eric and Greg, many on our team have had the privilege of watching their individual journeys for years. Eric, once an intern at Pelion, moved his family to Muscat, Oman to work for the Oman Investment Authority, a role that launched his career in international investments and global business relations, particularly in Eastern Europe and North Asia. Meanwhile, Greg was building a distinguished career in Virginia as an expert in international business advisory, focusing on China.

Mike Brown, the third co-founder and Chief Data Officer at Strider brings over two decades of experience as a technology executive leading at companies like ComScore, ID.me, CSRA, and IBM. The co-founders combined experience in geopolitics, international business security, and technology is unparalleled, and it was clear that these unique insights led them to the founding of Strider.

Building a successful business is hard. It takes more than great founders, smart tech, or unique insight—it requires all of this, plus perfect timing and favorable macroeconomic conditions. With all these elements aligning, the Strider team has built something truly special.

Strider’s proprietary, AI-driven global intelligence platform helps organizations proactively protect their intellectual property and mitigate risks such as state-sponsored threats and supply chain vulnerabilities. With offices in Utah, Virginia, London, and Tokyo, many customers in the Fortune 100, Strider is signing seven-figure contracts and transforming how companies defend their assets on the global stage—all while maintaining a remarkably efficient burn rate.

And this is just the beginning. With fresh capital, Strider is poised to accelerate the development of their platform, expand further into Europe and Asia, and increase their presence in the public sector. As more organizations across industries recognize the pressing need for proactive strategic intelligence, Strider is positioned to lead the charge. They are not just protecting the innovation of the free world—they are empowering it.

At Pelion, we are thrilled to back such visionary founders whose company is already making waves in a massive market. Strider is building something extraordinary while pushing the boundaries of innovation. We are confident they will continue to shape the future of global intelligence with unmatched precision and impact.

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Strider Technologies Raises $55 Million in Series C Funding

AXA

Strider Technologies Raises $55 Million in Series C Funding Led by Pelion Venture Partners

Investment will support Strider’s rapid revenue growth and accelerate development of its AI-driven strategic intelligence platform; will also enable the company to fuel international expansion and broaden its reach in the public sector

Press release, Salt Lake City, September 12, 2024

Strider Technologies, Inc. the leading provider of strategic intelligence, announced today that it has closed $55 million in Series C funding. With this funding, Strider will continue advancing its AI-driven capabilities into its integrated global intelligence platform, expand operations to new geographies in Europe and Asia, and more aggressively address the public sector market.

The round was led by Pelion Venture Partners and marks the largest single investment in the firm’s history. Blake Modersitzki, Partner at Pelion, will join Strider’s Board of Directors. The round includes participation from AXA Venture Partners (AVP), and existing investors Valor Equity Partners, DataTribe and Cyfr Capital.

“Strider has created a new market category with their groundbreaking global intelligence platform, which empowers organizations to proactively address nation-state threats,” said Blake Modersitzki, Partner at Pelion Venture Partners. “They are solving a massive problem in a massive market, and we are excited to be in business with such visionary founders, building a world-changing company and also doing immense good along the way.”

“At Strider, our mission is to protect the ideals and innovations of the free world,” said Greg Levesque, CEO & Co-founder of Strider. “Organizations across industry, government, and academia are on the frontlines of this new global geopolitical battlefield, under constant attack from nation-state adversaries. This investment led by Pelion will accelerate Strider’s ability to scale our platform and arm more organizations around the world with the strategic intelligence they need to compete.”

The world is in a new era of global intelligence. The traditional nation-state vs nation-state approach is gone as superpowers battle for geopolitical, economic, technological, and data dominance. China, Russia, Iran, and other adversaries are embracing a whole-of-society approach that puts private companies and leading academic institutions on the frontlines of this new conflict.

Fortune 500 companies, government agencies, and the world’s most prominent research institutions are subject to persistent intelligence, talent recruitment, and supply chain operations from nation-state actors.

Strider’s integrated global intelligence platform leverages AI, open source data, and proprietary methodologies. It enables organizations to proactively secure critical assets and inform decision-making so that they can better compete in the global economy.

“Strider is advancing the state-of-the-art in global intelligence, enabling organizations working with advanced technologies to go on offense to secure their innovation,” said Alex Scherbakovsky, General Partner at AVP. “Industry, government, and research institutions have been searching for ways to proactively mitigate state-sponsored threats to technology, talent, and supply networks. We are excited to support Strider’s efforts to develop new capabilities and meet the global demand for their intelligence platform. As a transatlantic investment firm, we are excited to support Strider’s international expansion and help Strider achieve its mission of enabling organizations and governments to secure their innovation.”

Since launching in May 2019, Strider has secured $110 million in venture capital funding, grown to nearly 200 employees, and secured multiple patents, while establishing its position as a first mover and category creator.

About Strider

Strider is the leading strategic intelligence company empowering organizations to secure and advance their technology and innovation. Leveraging AI technology alongside proprietary methodologies, Strider transforms publicly available data into critical insights. This increased intelligence enables organizations to proactively address and respond to risks associated with state-sponsored intellectual property theft, targeted talent acquisition, and supply chain vulnerabilities. Strider has operations in 10 counties across the globe with offices in Salt Lake City, Washington, DC, Tokyo, and London.

About Pelion Venture Partners

Originally formed in 1986 as Utah Ventures, Pelion Venture Partners has raised over $2 billion across its family of funds. Focused primarily on early stage technology companies, some of Pelion’s more notable investments include Cloudflare, Divvy, Integral Ad Science, Weave, LVT, Kapital, and Redo among others. For more information about Pelion, please visit www.pelionvp.com.

About AVP

AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.

Contact: Sébastien Loubry, Partner Business development (sebastien@axavp.com)

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Tikehau Capital completes the sale of its stake in Preligens to Safran

Tikehau

Tikehau Capital, the global alternative asset manager, today completes the acquisition by Safran of its stake in Preligens, a world leader in artificial intelligence (AI) for aerospace and defence, for an enterprise value of €220 million. Following an exclusive negotiation process that began in June 2024, Tikehau Capital is selling its stake in Preligens to Safran.

Founded in 2016 by two French engineers, Preligens provides field-proven Artificial Intelligence (AI) analysis solutions for high-end imagery, full-motion video and acoustic signals.

Tikehau Capital’s investment in November 2020 has played a key role in accelerating the growth of Preligens, which has increased revenues tenfold (from €3 million to nearly €30 million), expanded operations in the US and Asia, and now employs around 250 people, including 140 R&D engineers. This sale is the first divestment of Brienne III, the first vintage of the Group’s private equity strategy dedicated to cybersecurity. This strategy has raised almost 4001million euros over its two vintages and has now invested 150 million euros in 16 companies including Trustpair, Chapsvision and Egerie in France and VMRay in Germany. This transaction generates a MOIC of 2.4x and a gross IRR of 30.4%2. 1Brienne III raised €175 million, making it Europe’s largest fund dedicated to cybersecurity. The next vintage announced a closing of €200 million in October 2023, exceeding the final size of the predecessor fund.

22.1x net MOIC and 18% net IRR 1 PRESS RELEASE  PARIS, 2 SEPTEMBER 2024 PRESS CONTACTS: Tikehau Capital: Valérie Sueur +33 1 53 59 03 64 UK – Prosek Partners: Philip Walters – +44 (0) 7773 331 589 USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238 press@tikehaucapital.com SHAREHOLDER AND INVESTOR CONTACTS: Louis Igonet – +33 1 40 06 11 11 Théodora Xu – +33 1 40 06 18 56 shareholders@tikehaucapital.com

ABOUT TIKEHAU CAPITAL: Tikehau Capital is a global alternative asset management group with €46.1 billion of assets under management (at 30 June 2024). Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders’ equity at 30 June 2024), the firm invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 762 employees (at 30 June 2024) across its 17 offices in Europe, Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

DISCLAIMER: The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006. Non-contractual document intended exclusively for journalists and media professionals. The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility. This document does not constitute an offer to sell securities or investment advisory services. This document contains only general information and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Owing to various risks and uncertainties actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. Tikehau Capital accepts no liability, direct or indirect, arising from the information contained in this document. Tikehau Capital shall not be liable for any decision taken on the basis of any information contained in this document. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America. 2

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Carlyle to invest in SEIDOR

Carlyle

Barcelona, Spain, 20 August 2024 – Global investment firm Carlyle (NASDAQ: CG) today announced it has agreed to invest in SEIDOR, a leading technology services and solutions consultancy. The terms of the transaction were not disclosed.

Founded in 1982, SEIDOR provides IT solutions and a variety of services including consulting, implementation, and maintenance across Artificial Intelligence, Microsoft Edge, Customer & Employee Experience, Data & Cloud, Cybersecurity, and enterprise resource planning (“ERP”) software. In addition to a highly diversified customer base, the company has partnerships with a range of industry players including SAP, Salesforce, Microsoft, IBM, Google, and AWS, and also develops proprietary products. Headquartered in Barcelona, the company has over 9,000 employees.

Carlyle will aim to support SEIDOR’s growth by strengthening the management team, investing in product innovation and expansion, further developing its partnership ecosystem, evolving the company’s go-to-market strategy, and driving operational efficiencies by removing business silos and pursuing cross-selling opportunities.

Equity for the investment will be provided by Carlyle Europe Technology Partners (“CETP”) V, a €3 billion fund which invests in technology companies across Europe. Carlyle will leverage its longstanding track record of internationalising European software companies, including current portfolio companies GBTEC, SER Group, Shopware, CSS, 1E, Phrase and Hack The Box.

Josep Benito, SEIDOR’s new Executive Chairman, said: “An investor of Carlyle’s stature and scale becoming a shareholder in SEIDOR demonstrates confidence in SEIDOR’s strategy. In this transaction, Carlyle brings not only capital to accelerate our growth but its longstanding experience and track record of investing in, growing, and internationalising leading European technology businesses like ours. This is an opportunity for the entire SEIDOR family, including our employees, customers, suppliers, and partners, to unlock a new stage of growth. I believe this deal is an important step for SEIDOR, as an engine of innovation in IT, as we look to become a leading technology company globally.”

Fernando Chueca, Partner in the CETP investment advisory team, said: “This transaction is an attractive opportunity to support a Spanish leader in the digital transformation sector. We believe that SEIDOR has a strong competitive position in key markets like Spain, as well as significant growth potential in other major European economies and North America. Through our partnership, we intend to support SEIDOR’s development into a global technology champion competing in the world’s highest value software markets, delivering value for all its current and future stakeholders.”

Mario Pardo, Partner in the Carlyle Europe Partners (“CEP”) investment advisory team, said: “We are pleased to have supported our colleagues in CETP with the sourcing and diligence of this transaction, enabled by our over 20 years of heritage in Spain, the deep local presence and expertise of our team in Barcelona, and our broader track record of partnering with founders and entrepreneurs to grow and internationalise leading Spanish companies.”

About Carlyle 

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SEIDOR 

SEIDOR is a technology consultancy that offers a comprehensive portfolio of solutions and services covering the fields of Artificial Intelligence, Edge, Customer Experience, Employee Experience, ERP, Data, Application Modernization, Cloud, Connectivity and Cybersecurity. With a turnover of 894 million euros in the 2023 financial year and a workforce of more than 9,000 highly qualified professionals, SEIDOR has a direct presence in 45 countries in Europe, Latin America, the United States, the Middle East, Africa and Asia. The consulting firm is a partner of the main technology leaders. Follow SEIDOR on: SEIDOR Blog / www.SEIDOR.com.

Media Contacts

Nicholas Brown

nicholas.brown@carlyle.com

+44 7471 037 002

Josep M. Vialis

JosepMaria.vialis@seidor.com

+34 659 170 143

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Vista Equity Partners Names Winners of 7th Annual Global Hackathon

Vista Equity

AUSTIN, Texas, August 15, 2024—Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, today announced the winners of its 7th Annual Global Hackathon. The portfolio-wide business innovation competition provides an opportunity for developers and engineers to connect with peers and compete to advance enterprise software solutions with generative AI.

This year’s Hackathon was held at The University of the District of Columbia, marking the first time Vista’s annual competition was hosted by a Historically Black College and University (HBCU). The event featured over 130 participants on 27 teams representing dozens of Vista portfolio companies and included participation from undergraduate and graduate students from 12 different HBCUs. These students joined individual portfolio company teams and worked to build innovative enterprise software solutions, providing hands-on experience to strengthen their knowledge and expertise.

“The ability to bring software developers and engineers together to innovate alongside one another is one of the greatest opportunities the Vista ecosystem offers,” said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “By connecting with each other – people who are in their shoes and have experienced and solved similar challenges – we can help to expand knowledge across all of Vista’s more than 85 portfolio companies.”

Mr. Smith continued, “We were thrilled to once again welcome students from HBCUs to this year’s competition and are grateful to our hosts at the University of the District of Columbia for making it such a success. Integrating these talented students into our portfolio company teams fosters an atmosphere of innovation and creativity while providing them with invaluable hands-on experience and exposure to real-world challenges and solutions – all helping to pave the way for their future success in the tech industry.”

Vista is proud to congratulate the winners of this year’s global competition in the following categories:

Bonterra: Best Overall. Bonterra’s solution used Large Language Models (LLMs) to streamline the grant review process for funders, a major challenge in the grant making space. They used LLMs to score every grant application based on a variety of data – from the nonprofit’s IRS filings to the sentiment of their news mentions – resulting in a more efficient process and faster funding to nonprofits.

PowerSchool: Peer Choice Award. PowerSchool’s team created a generative AI tool that enables educators to develop engaging, immersive and effective instructional materials at scale, customized to each student’s skills, interests and learning needs.

StarRez: Highest Customer Value. The StarRez team engineered an automated image-to-process system for property managers and their residents. The advanced tool helps streamline room setup, inspections, move-in/out procedures and billing, enhancing efficiency and resident satisfaction.

BigTime Software: Best UI / UX. BigTime’s solution offers professional service firms instant insights into risks and opportunities for profitable service delivery by leveraging generative AI to surface critical insights, suggest actions, identify issues early and propose solutions that can be carried out by AI or a staff member.

Poppulo: Most Innovative Use of New Technology. Poppulo’s solution automatically generates communications tailored to employee demographics and preferences. By leveraging engagement data to make smart suggestions, it ensures the right message is delivered at the right time, through the most effective channels.

Avalara: Best Operational Efficiency. Avalara’s workflow tool automates business tasks by using a network of generative LLM agents. Each agent brings business-specific skills to perform research from approved corporate data sources and collaborate with other agents to execute complex workflows through a user-friendly interface.

All entries were reviewed by a panel of Vista value creation and product and technology experts. Submissions were judged based on innovation and originality, feasibility of productization and deployment, potential business impact, completeness of vision and clarity of presentation.

About Vista Equity Partners

Vista is a leading global investment firm with more than $100 billion in assets under management as of March 31, 2024. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on X, @Vista_Equity.

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Vista Equity Partners Acquires JAGGAER

Vista Equity

AUSTIN, Texas–(BUSINESS WIRE)–Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, today announced the acquisition of JAGGAER, a global leader in enterprise procurement and supplier collaboration software, from Cinven. Terms of the transaction were not disclosed.

“JAGGAER provides a mission-critical platform that enables its customers and partners to streamline global supply chain and procurement processes, lower costs and improve visibility”

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JAGGAER provides configurable source-to-pay and supplier collaboration software for direct and indirect procurement processes through a single, unified platform. The company’s AI-enabled solutions help optimize and automate sourcing, spend management, contracting, eProcurement, invoicing and supply chain visibility for a diversified group of more than 1,400 customers around the world.

“This new partnership with Vista underscores JAGGAER’s strong momentum and the compelling value our intelligent software delivers by helping our customers manage and automate complex processes while enabling a highly resilient, responsible and integrated supplier base,” said Andy Hovancik, CEO of JAGGAER. “Vista is a highly experienced software investor, and I’m confident they will be an exceptional partner to JAGGAER during this exciting next phase of growth and opportunity.”

“JAGGAER provides a mission-critical platform that enables its customers and partners to streamline global supply chain and procurement processes, lower costs and improve visibility,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “JAGGAER’s products serve a large addressable market benefiting from durable growth tailwinds, including customers’ increasing desire to unify direct and indirect spend management and realize the benefits of AI. JAGGAER is well-positioned to capitalize on these demand trends given its leading capabilities across source-to-pay workflows.”

“JAGGAER’s comprehensive solution enables customers to manage all procurement activities from an intuitive platform that harmonizes and optimizes disparate spend data,” said Sam Payton, Senior Vice President at Vista. “JAGGAER is led by a high-performing leadership team with a demonstrated commitment to operational excellence and a bright vision for the future of AI-powered spend management. We’re excited to support an organization that cares deeply about their customers, partners and mission.”

About JAGGAER: Procurement’s intelligent source-to-pay and supplier collaboration platform.

JAGGAER is a global leader in enterprise procurement and supplier collaboration, and the catalyst for enhancing human decision-making to accelerate business outcomes. We help organizations to manage and automate complex processes while enabling their highly resilient, accountable, and integrated supplier base. Backed by 30 years of expertise, our proven AI-powered industry-specific solutions, services, and partnerships form JAGGAER One, serving direct and indirect, upstream and downstream, in settings demanding an intelligent and comprehensive source-to-pay solution. Our 1,200 global employees are obsessed with helping customers create value, transform their businesses, and accelerate their journey to Autonomous Commerce.

About Vista Equity Partners

Vista is a leading global investment firm with more than $100 billion in assets under management as of March 31, 2024. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

Endorsements presented herein are made by current or former employees of Vista portfolio companies, over which Vista may have the ability to exercise discretion on employee compensation, promotion and other employment decisions and may also be investors in Vista funds.

Contacts

Brian Steel
media@vistaequitypartners.com
(212) 804-9170

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