Tag Archives: Software

Fortino Capital exits Business Process Management firm Symbio

Fortino Capital

Munich, November 30, 2023 – Fortino Capital, a European B2B software venture capital and growth equity firm, today shared that Celonis, the global market leader in process mining, has acquired Symbioworld GmbH, an innovative AI-driven business process management software provider. For Fortino Capital this marks the first exit of an investment in Germany.

Fortino Capital initially invested in Symbio in December 2022, as the company had shown strong proof of organic growth with a sticky and recurring customer base. Following the investment, Fortino supported the Symbio management on further professionalization of the company and leveraging its growth potential. Fortino supported Symbio in accelerating its growth by providing operational experience as Saas B2B investors. Throughout the holding period of Fortino Capital, Symbio has experienced a significant uptick in growth, fueled by new product innovations focusing on AI, the implementation of a refined go-to-market strategy and further internationalization.

Philipp Remy, Partner at Fortino Capital, explains: “The acquisition of Symbio by Celonis symbolizes a powerful market event as the two companies can now provide managers and employees with a unified end-to-end process experience for deploying process best practices aligned with real-time performance metrics and monitoring. We want to thank the Symbio team for our great partnership and this very successful journey we had together.

Philipp Remy, Partner at Fortino Capital

With the launch of the Symbio AI Copilot this year, Symbio took another big step forward in its position at the forefront of Business Process Management. Fortino supported the Symbio management in inventing and launching this product innovation in the initial phase of the holding period with imminent large-scale customer demand and commercial traction. We wish the Symbio and Celonis team the very best in their mission to bring process intelligence to all companies around the globe.”

Oliver Zeller, CEO and co-founder of Symbio, added: “By joining forces with Celonis we have a great opportunity to enable employee-centric process intelligence at scale. Combining Celonis’ market-leading process mining technology with Symbio’s ability to allow employees to easily retrieve all relevant processes and information via AI search and personal Copilot capability provides a game-changer in process intelligence for our customers.

Oliver Zeller, Co-Founder and CEO at Symbio

I would like to thank Philipp and the entire Fortino team for supporting us with their outstanding operational expertise and impeccable commitment, which enabled Symbio to rapidly benefit from the right strategic focus, evident in our accelerated growth trajectory.”

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BPEA EQT Mid-Market Growth to acquire a majority stake in HRBrain, a fast-growing HR software provider in Japan

eqt

HRBrain is a fast-growing HR software provider in Japan, helping companies manage and engage with talent more effectively through a diversified suite of cloud products

As Japan continues to face talent shortages and increasing regulatory requirements for disclosure of human capital metrics, the demand for solutions to support talent management and employee engagement is growing rapidly

BPEA EQT Mid-Market Growth will support HRBrain’s continued growth by expanding the customer base and support ongoing development of new modules to further enhance its integrated service offering

EQT is pleased to announce that the BPEA EQT Mid-Market Growth Fund (“BPEA EQT Mid-Market Growth”) has agreed to acquire a majority stake in HRBrain (the “Company”), from existing shareholders. The Company’s founder, Hiroki Hori, will remain as a significant minority shareholder and continue as CEO.

HRBrain was established in 2016 to offer software solutions aimed at simplifying and streamlining companies’ performance evaluation processes. Today, the Company’s HR solutions have grown to include comprehensive talent management, employee experience and organization assessment, labor management, AI ChatBot, 360 Reviews, and more. HRBrain is headquartered in Tokyo and has more than 150 employees.

As Japan continues to face talent shortages and increasing regulatory requirements for disclosure of human capital metrics, the demand for solutions to support talent management and employee engagement has been growing rapidly. With an intuitive UI/UX design, flexible module selections, and strong customer support and consulting services, HRBrain has developed a highly diversified customer base, helping more than 2,500 companies in total engage with talent more effectively. Moreover, the Company has best-in-class customer satisfaction and strong retention, particularly from their core target segment of mid to large sized enterprises, with more than 60 percent in annual recurring revenue growth.

EQT has extensive experience developing strong software businesses on a global scale, with more than 15 software investments globally and over USD 10 billion of equity invested since 2018. BPEA EQT Mid-Market Growth will leverage the firm’s in-house software and digitalization capabilities and global network of industry experts to support HRBrain in its next phase of growth.

Tetsuro Onitsuka, Partner within EQT Japan’s advisory team, commented, “HRBrain is one of the top players in Japan’s Talent Management space, which is backed by strong tailwinds from socially significant issues like a shrinking labor force, a growing shift towards job-based hiring, and a regulatory push to visualize and disclose human capital. We see great potential for further expansion of the company’s impressive product and service offerings, and we look forward to leveraging EQT’s experience in technology and software to support President Hiroki Hori and his employees as we work together to accelerate HRBrain’s organic and inorganic growth.”

Hiroki Hori, CEO of HRBrain, commented, “HRBrain promotes solutions in the HR domain mainly for Japanese companies through SaaS-type software and consulting services. We are pleased to have formed a strong partnership with EQT and work to realize our mission. Together, we will continue to provide unique products that are indispensable to diverse workplaces and solving complex issues in the HR field.”

The transaction is expected to close in Q4 2023.

BPEA EQT was advised by SMBC Nikko, Nishimura & Asahi (legal), and KPMG (financial, tax and ESG). The Company was advised by UBS and Shiomizaka (legal).

Contact
EQT Press Office, press@eqtpartners.com

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of the BPEA EQT Mid-Market Growth fund will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About HRBrain
HRBrain is a one-stop cloud-based platform consisting of seven services for streamlining HR operations and centrally managing and utilizing HR data – the company’s flagship HRBrain Talent Management service, as well as Organizational Diagnostic Survey, Pulse Survey, Personnel Evaluation, 360-degree Review, Labor Management, and AI ChatBot for internal use. HRBrain will continue to expand its services in ways that can further contribute to ESG management, the development of human capital, and digital transformation (DX) in the HR space.

More info: www.hrbrain.co.j

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Main Capital Partners announces the sale of its majority stake in GBTEC to Carlyle

Main Capital Partners

Global investment firm Carlyle (NASDAQ: CG) announced today a majority investment in GBTEC Software AG and affiliates (“GBTEC”), a leading provider of business process management (BPM) and governance, risk and compliance (GRC) software.

Global investment firm Carlyle (NASDAQ: CG) announced today a majority investment in GBTEC Software AG and affiliates (“GBTEC”), a leading provider of business process management (BPM) and governance, risk and compliance (GRC) software. GBTEC’s founder and CEO Gregor Greinke will remain the largest private shareholder and CEO of GBTEC. As part of the transaction, co-founder Marc-Oliver Stromberg and the extended GBTEC management team are reinvesting and investing respectively for significant stakes in the company. Main Capital Partners, which has supported GBTEC as a specialized software investor since 2019, has sold its stake in GBTEC as part of the transaction. Further details of the transaction were not disclosed.

GBTEC is a leading provider of SaaS software in the market segments of intelligent Business Process Management (iBPM), Digital Process Automation (DPA) and Process Governance, Risk and Compliance (GRC). The company is differentiated by its modern and user-friendly products, which are driven by no-code and low-code technologies, and its state-of-the-art product platform. GBTEC’s products are commended by leading technology analysts. The company has over 1,200 customers, including many European and international blue-chip enterprises as well as public institutions, and employs around 300 people. In addition to its home markets of Germany, Austria, and Switzerland, the company has established branches in Spain and Australia.

Carlyle will work with GBTEC’s management team to further accelerate the company’s international expansion and further develop its product portfolio, particularly in the area of digital process automation. The company plans to make significant investments particularly in sales & marketing and artificial intelligence.

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 SER Group, Shopware, CSS, 1E, Phrase and Hack The Box.

Gregor Greinke, founder and CEO of GBTEC, said: “With our modern and user-friendly products we have become a leading BPM and GRC SaaS provider in Europe in recent years. With Carlyle’s investment, we are now entering the next phase of GBTEC’s growth journey. We believe Carlyle, one of the leading technology investors, is the perfect partner to support us in realizing our growth ambitions. We would like to thank Main Capital Partners for the excellent cooperation and partnership over the last four years.”

Michael Wand, Managing Director and Co-Head of the CETP investment advisory team, said: “GBTEC is well placed to benefit from one of the most important technology trends, digital transformation and, specifically, the automation of business processes. We are excited that Gregor Greinke and his team have decided to partner with us. We believe that with our more than 20 years’ of experience in infrastructure software investments and supporting the internationalisation of European software companies, we can be a key contributor to GBTEC’s growth into a global market leader.”

Sven van Berge Henegouwen, Managing Partner at Main Capital Partners, said: “GBTEC‘s performance over the last years has been impressive and the time spent with the management on strategic initiatives such as internationalization and product expansion has been extremely exciting. We believe Carlyle is investing in a well-positioned company with strong prospects for the future.”

GBTEC‘s performance over the last years has been impressive and the time spent with the management on strategic initiatives such as internationalization and product expansion has been extremely exciting.

– Sven van Berge Henegouwen, Managing Partner at Main Capital Partners

About

GBTEC Group

GBTEC is a leading provider of SaaS software in the areas of Business Process Management (BPM) and Governance, Risk and Compliance (GRC). GBTEC’s product portfolio covers the areas of Business Process Design & Modelling, Process Execution, Process Mining and Process Governance, Risk and Compliance (GRC) from a single vendor. The company differentiates through its modern and user-friendly products, driven by no-code and low-code technologies and a state-of-the-art product platform. Customers also benefit from expert customer support and a comprehensive range of training courses in the areas of BPM and GRC. GBTEC’s products are used by companies of all sizes, from SMEs to Fortune 500 enterprises, and public institutions. Headquartered in Bochum, Germany, the company employs approximately 300 people at locations in Germany, Spain and Australia.

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 $382 billion of assets under management as of September 30, 2023, 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 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle.

 

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Blackstone to Acquire Civica

Blackstone

LONDON, UK – November 22, 2023 – Blackstone (NYSE: BX), the world’s largest alternative asset manager, announced today that private equity funds managed by affiliates of Blackstone (“Blackstone”) have entered into a definitive agreement to acquire Civica, a global leader in public sector software solutions, from Partners Group, a leading global private markets firm, acting on behalf of its clients. Financial terms of the transaction were not disclosed.

Civica was founded in 2001 and has since grown into one of the UK’s largest software companies and a global leader in software for the public sector, providing mission-critical automating and streamlining technology services to clients that range from local to central and federal government, health and social care providers and education. Its wide-ranging product portfolio includes workflow and automation, risk and compliance, workforce management, financial management, and data analytics and insights. Civica is recognized for its high customer retention rates and benefits from strong recurring revenues. Today, Civica has over 6,000 customers, servicing more than 100 million citizens across the UK, Ireland, Australia, New Zealand, India, Singapore, the United States and Canada.

Civica has benefited from the strong growth of the Government Technology space, powered by the ongoing digitalization of the public sector and long-term investments made by governments to improve their technology capabilities and the services they offer to their constituents.

“Civica is a leader in the ‘GovTech’ space, with an excellent brand and an enviable market position and we are excited to be partnering with a stellar management team to help the business in this next phase of growth. This investment is a testament to our long-standing software experience, a significant focus area for the firm globally, and builds on our strong track record of investing here in the UK,” said Jonathan Murphy, a Managing Director at Blackstone and Miguel García Gómez, a Principal at Blackstone.

“At Civica, our aspiration is to be a ‘GovTech’ champion, providing software that supports the needs of citizens and those that serve them. In partnership with Partners Group, we have significantly transformed our offering and increased growth momentum across cloud, digital enablement, software innovation, and data analytics. We have also cemented our position as an innovation leader. We now have over two decades of growth to build on and look forward to the next phase of our journey,” commented Lee Perkins, Chief Executive Officer at Civica.

The transaction is expected to close in Q2 2024, subject to regulatory approvals. Blackstone was advised by Barclays as lead financial advisor and DC Advisory as secondary financial advisor. Partners Group was advised by Clifford Chance and Arma Partners. Arma Partners acted as exclusive financial advisor to Civica and Management was advised by Travers Smith and Wyvern Partners.

Media Contacts

Blackstone
Rebecca Flower
Rebecca.Flower@blackstone.com
+44 (0)7918 360372

Civica
Fintan Hastings
press@civica.co.uk

About Blackstone 
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.  Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Civica Group
We’re Civica and we make software that helps deliver critical services for citizens all around the world. From local government to central government, to education, to health and care, over 5,000 public bodies across the globe use our software to help provide critical services to over 100 million citizens. Our aspiration is to be a GovTech champion everywhere we work around the globe, supporting the needs of citizens and those that serve them every day. www.civica.com

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Partners Group to sell Civica, a global provider of cloud software solutions for the public sector

Partners Group

Zug, Switzerland; 22 November 2023

  • Over 6,000 organizations use Civica’s solutions to deliver critical services
  • Civica has high customer retention rates and benefits from strong recurring revenues
  • Partners Group acquired Civica in 2017 and transformed it into a pure software business

Partners Group, a leading global private markets firm, acting on behalf of its clients, has agreed to sell Civica (or “the Company”), a global provider of cloud software solutions for the public sector, to Blackstone.

Headquartered in the UK, Civica provides cloud software solutions to over 6,000 organizations across seven countries that deliver critical services to citizens. Civica’s solutions are designed to help public bodies, including local councils, government departments, health and social care providers, and schools, operate more effectively through automating and streamlining services. The Company has a comprehensive product portfolio covering workflow and automation, risk and compliance, workforce management, financial management, and data analytics and insights. Given Civica’s role in supporting the delivery of critical services, the Company maintains high customer retention rates and benefits from strong recurring revenues. Civica is well-positioned to continue capitalizing on broad growth trends within the software market as organizations look to further digitize to provide better services and save money.

Partners Group acquired Civica in 2017 and has since transformed the Company into a pure software business, pivoting away from its previous services such as IT management. This has driven Civica’s strong growth, with EBITDA doubling since Partners Group’s investment. During Partners Group’s ownership, Civica has accelerated organic topline growth, developed a cloud offering, built out its offshore R&D operations, and executed 24 highly complementary add-on acquisitions. Together with the management team, Partners Group has also defined overarching functional priorities that will guide Civica’s next phase of growth.

Bilge Ogut, Partner, Head Private Equity Technology Industry Vertical, Partners Group, says: “We have been on a transformational journey with Civica, and we are very proud of where the business stands today. Our value creation plan centered around moving Civica in the direction of a pure software solutions business and embracing the shift to cloud, which is important for its client base. The Company will continue to benefit from being the trusted party for digital transformation for its clients, with whom it has deep relationships as a partner of choice. We believe Civica has strong foundations from which to further build on its success.”

Lee Perkins, Chief Executive Officer, Civica, comments: “At Civica, our aspiration is to be a ‘GovTech’ champion, providing software that supports the needs of citizens and those that serve them. In partnership with Partners Group, we have significantly transformed our offering and increased growth momentum across cloud, digital enablement, software innovation, and data analytics. We have also cemented our position as an innovation leader. We now have over two decades of growth to build on and look forward to the next phase of our journey.”

Charles Rees, Member of Management, Private Equity Technology Industry Vertical, Partners Group, adds: “The thematic trends that underpinned our original investment in Civica remain strong. Civica’s mission-critical and deeply specialized solutions, which are key in the public sector space where a high level of customer intimacy is required, continue to differentiate the Company from its competitors. Civica’s growing international presence should also provide future growth channels. We wish the management team all the best.”

Completion of the transaction is subject to customary regulatory approvals and closing is expected in Q2 2024. Partners Group was advised by Clifford Chance as legal counsel and Arma Partners as exclusive financial adviser.

Partners Group’s Private Equity business has USD 74 billion in assets under management.

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Vertuoza reinforces its growth ambitions and successfully concludes its 10 million € Series A funding round

Fortino Capital

Vertuoza, the pioneer in construction software, has successfully completed its Series A funding round with an additional injection of 6 million euros following last year’s pre-Series A funding of 4 million €, bringing the total to 10 million. This capital raise, backed mainly by Fortino Capital and XAnge, reflects confidence in the ambitious growth plans of the Belgian company.

Since its launch, Vertuoza has experienced rapid growth, driven by an innovative spirit, a clear vision, and the unstoppable energy of its founders and their team. With this financial support, Vertuoza will accelerate its international expansion. The software, currently available in four countries, was launched in Dutch last summer and will soon enter the Dutch market.

CEO Dominique Pellegrino explains, “We meticulously followed our initial plan to organize the Series A round in two parts. After a pre-Series A of 4 million, the plan was to continue accelerating, to have an incredible year to conclude this round, and to raise under favorable conditions. The renewed confidence of our investors, who believed in us last year, reinforced our decision. Our exponential growth this year has exceeded their expectations and leads to further investments.”

Dominique Pellegrino, CEO

Three years after its founding, Vertuoza has an annual recurring revenue of more than 4 million euros and continues to break sales records.

“Since our partnership with Vertuoza began last year, we have witnessed a remarkable metamorphosis, transitioning from a vibrant start-up to a dynamic scale-up. Vertuoza’s execution of its vision to revolutionize the European construction sector through digitalization has been nothing short of exceptional. We are both excited and honored to support Dominique, Antoni, and the entire Vertuoza team as they continue on this transformative journey.” says Filip Van Innis, Partner at Fortino Capital.

Filip Van Innis

Heading towards Dutch-speaking regions!

Building on its success and the mission to provide peace of mind and success to construction entrepreneurs, Vertuoza is now making its move into the Dutch-speaking market. The software, already available in Dutch in Flanders and Brussels, serves as a springboard to the Netherlands.

 

Clear and ambitious goals, with a team increasingly dedicated to its clients!

After the successful realization of significant forecasts for 2023, Vertuoza is setting new objectives for the upcoming year. The mission? To double its ARR, expand its international presence, and finalize the V2 of its software. These challenges will require attracting new talents, especially Dutch-speaking profiles, to strengthen a team already composed of over 75 innovation enthusiasts. The scale-up aims to welcome at least forty new members by the end of 2024.

“As the construction sector continues to evolve, the demand for efficiency and sustainability becomes ever more pressing. Vertuoza, with its innovative approach to construction software, stands at the forefront of this transformation. Our renewed investment reflects our strong belief in Vertuoza’s potential to revolutionize construction.” – Cyril Bertrand, Managing Partner, XAnge.

 

A Team driven by innovation and customer service

Vertuoza upholds a culture of continuous innovation, refusing to settle for the minimum, and is committed to achieving customer satisfaction aligned with its ambitious standards. Beyond its software, the Belgian company enhances its customer service to meet client expectations and foster peace of mind in their development of their construction business. The upcoming year, 2024, will witness the launch of the V2 of their software, anticipated to be more revolutionary and intuitive. Developed in close collaboration with internal teams and clients, this new version promises entrepreneurs an unparalleled solution. Stay tuned…

 

About Vertuoza

Vertuoza is a powerful and intuitive software that has been assisting building entrepreneurs since 2021 in managing various aspects of their companies: planning, invoicing, profitability, project management, and monitoring, among others. It provides everything needed to alleviate the heavy administrative burden that weighs on construction businesses. With new features released every month, the Vertuoza software ensures it stays closely connected with its clients, meets their expectations, and adapts to evolving needs. The company, led by Antoni Di Filippo & Dominique Pellegrino, has already raised €11.2 million from French and Belgian-Dutch investors such as XAnge and Fortino Capital, a European investment firm based in Flanders and the Netherlands, focusing on B2B software editors. With an ARR of €4 million and 72 employees in three countries, just two and a half years after its launch, there’s no doubt that Vertuoza’s success story is only just beginning! For more information, please visit https://vertuoza.com

 

About Fortino Capital

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. Fortino’s Venture Capital portfolio includes Vertuoza (BE), TechWolf (BE), Timeseer.ai (BE), Zaion (FR), Salonkee (LUX), Sides (DE), D2X (NL), Peers (DE) and Kosli (NO) among others. Fortino Capital’s private equity growth portfolio includes VanRoey (BE), BizzMine (BE) MobileXpense (BE), Efficy CRM (BE), Tenzinger (NL), SpeakUp (NL), Cenosco (NL), Maxxton (NL), Stardekk (BE) and Bonitasoft (FR).

 

About XAnge

XAnge (xange.vc) is a leading European venture capital firm, Bcorp certified, based in Paris, Berlin, and Munich. With €600M Assets under Management, the company invests in European early-stage innovative technology companies operating in the fields of Digital consumer, Enterprise & Data, Fintech, and Deeptech. Since its creation in 2003, XAnge has backed more than 200 fast-growing companies in their entrepreneurial journeys. The team works alongside visionary founders with strong values and international ambitions such as Ledger, Odoo, Lydia, or Believe Digital. For more information, please visit https://www.xange.vc

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Volpi Capital Invests in Yaveon

Volpi Capital

London, 16th of November 2023: Volpi Capital, a pan-European B2B technology investor, is delighted to announce its partnership with Yaveon.

Founded in 2008, Yaveon is a leading ERP software vendor and system integrator specialising in the Microsoft Dynamics ERP platform. It serves small and medium companies operating in the process manufacturing industry including the highly regulated life sciences industry. In addition to in-depth industry know-how, YAVEON offers a proprietary suite of industry extensions. Headquartered in Germany, the Company has 217 employees and a global customer base.

Its management team partnered with Volpi after months of close collaboration, with a joint plan to (i) focus on people & recruitment, (ii) scale its proprietary software by leveraging a scalable, channel-based go-to-market strategy, and (iii) acquire complementary vendors in the Microsoft partner network.

Given the rapid growth of the Microsoft Dynamics platform and its partner-first strategy, Volpi and management see a significant opportunity for Yaveon to become the global reference for Microsoft in the process manufacturing and life sciences vertical, through both organic growth and M&A consolidation. Yaveon has demonstrated high growth in recent years, exhibiting impressive revenue and EBITDA CAGRs, largely driven by the expansion of its industry software which is sold across Europe and the Americas.

Yaveon was also recognised as a top place to work in Germany by Kununu and Focus Top Employers in 2023.

York Braune, Yaveon’s CEO commented, “We are excited about the next stage of growth with Volpi. Our choice to partner with them stems from their track record in scaling software businesses globally, particularly via partner channels, their strong focus on culture, as well as our joint conviction in Microsoft Dynamics as a winning platform”.

Gebhard Schwan, COO and Co-Founder added, “This is an exciting time for us, given our momentum in the market. Volpi’s success stories, such as their scaling of the delivery function at Version 1, their entry into the Microsoft market with Boyum IT, and multiple international M&A transactions in the space, demonstrates the value they bring to the table”.

Crevan O’Grady of Volpi Capital responded, “As a thematic investor, we had identified the Microsoft Dynamics partner network as a top market since 2020 and were actively looking for the right management team to partner with. York, Gebhard and the rest of the Yaveon team impressed us immediately; we are excited to roll up our sleeves and deploy Volpi’s resources to help the team fully capture the global market opportunity”.

Marc Andreoli of Volpi Capital added, “Now is the time to invest in international growth, to create a global Dynamics champion for process manufacturing. We look forward to support York, Gebhard and their team to further scale the organisation, both organically and via complementary M&A”.

Volpi was advised by PwC (Financial DD, Tax DD, and structuring), White & Case (Legal), Ringstone (ITDD), Christoffer Holten (Customer DD), Corporate Balance (ESG DD), and Howden (W&I insurance). Debt financing was provided by Gestalterbank.

Yaveon was advised by Greenfort (Legal), Ebner Stolz (Financial) and Kuhn & Partner (Tax).

The Volpi team was led by Crevan O’Grady, Marc Andreoli, Fernando Piekenbrock, and Annamarie Krcmar. Jarlath Dooley, former Director at Version 1 will join as Chairperson of the Board.

About Volpi Capital

Volpi Capital is a specialist Pan-European lower mid-market private equity firm seeking to partner with ambitious businesses that use technology to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its second fund (Volpi Capital Fund II) in December 2020 with €323 million of commitments, and is now investing from its third fund (Volpi Capital Fund III)

Media enquiries Volpi Capital
Samantha Lang
Public Relations
+44 203 747 2625
info@volpicapital.com

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VaultSpeed secures $15,9 million in Series A funding to accelerate growth of its automated data transformation platform

16 november 2023 – Leuven, Belgium – VaultSpeed, the automated data transformation company, announces that it has secured $15,9 million (€ 15,1 million) in Series A funding. This funding round is led by Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, with additional participation from the current lead investor Fortino Capital, PMV, and BNP Paribas Fortis Private Equity. Following two consecutive years of triple-digit revenue growth, VaultSpeed intends to use the proceeds to further expand its strong international presence and platform automation capabilities.

As more and more enterprise companies move their data to the cloud for faster analytics and data-driven decision-making, data teams are faced with the problem that without automation, it becomes nearly impossible to transform and integrate multi-source data on time, without compromising on quality or quantity. According to market research by Gartner, Worldwide Public Cloud End-User Spending will grow 17.5% to $725 billion by next year. Spending on cloud infrastructure represents the fastest growing market segment.

Launched in Belgium four years ago with seed investment from the Cronos Group and Fortino Capital, VaultSpeed has redesigned data transformation. It not only handles data complexity through transformation but also consolidates the data into a comprehensive target data model, allowing data engineers to customize it according to their requirements in a matter of days and weeks as compared to traditional methods.

VaultSpeed is already offering its automation solutions to global enterprises, particularly in finance, healthcare, and utilities sectors. The company has established strategic partnerships with Snowflake, Microsoft, and Databricks, and has developed a network of over 30 service partners to serve clients on a global scale.

“All data teams are looking at increasing productivity and agility. We automate every step of their cloud data warehouse or lakehouse. From setup to maintenance and beyond,” said Piet De Windt, CEO and co-founder of VaultSpeed. “We’re excited to team up with Octopus Ventures, they resonated with our ambition from the start to revolutionize the cloud data market. With this funding we aim to triple our revenue by 2025.” 

VaultSpeed secures $15,9 million in Series A funding to accelerate growth of its automated data transformation platform

Paul Davidson, Partner from Octopus Ventures: “Data warehouse automation is rapidly replacing conventional approaches to data warehouse creation which are becoming ineffective and obsolete. VaultSpeed have developed a no-code automation platform that we consider to be a best-in-class solution to address modern data engineering challenges, which often requires an ability to execute business intelligence or analytics projects in a matter of hours rather than months. We are delighted to partner with Piet and Dirk who have executed well on their vision for their solution to date and are confident that we can help them accelerate their ambitious international expansion plans.”

Marcel van der Heijden, Partner at Fortino Capital: “We’re delighted to continue to support Piet De Windt and Dirk Vermeiren and their team on their mission to push the boundaries of automation. The company has navigated well throughout the pandemic and post-pandemic period and has seen continued traction because they do fundamentally change the productivity of data teams. A must in the current AI era.”

Marcel van der Heijden

“VaultSpeed is at the forefront and will use the proceeds to maintain its competitive advantage. We have only just begun to tap into the vast potential of automation in the cloud data warehouse and lakehouse market. We are, for example, exploring how AI and abstraction can further revolutionize automation and target data model delivery.” stated Dirk Vermeiren, CTO and Co-Founder of VaultSpeed.

Roald Borré, Group Manager Equity Investments at PMV: “Automation of data-migration towards cloud environments is a key catalyst towards digitalization of companies. PMV is thrilled to support VaultSpeed in its rapid growth towards a leadership role in the data space. Combining the talents of the team and extra financial means, is a perfect recipe to further success.”

Ben Kolada and Eddie Harding at ICON Corporate Finance, who advised on the transaction, added: “We’re immensely proud to have advised Piet and the VaultSpeed team on this transformational funding round. The high-speed expansion VaultSpeed is experiencing is proof that the advanced automation capabilities of VaultSpeed’s data transformation platform are just what the market is asking for. Furthermore, Octopus Ventures’ deep sector experience and extensive international network makes them the perfect investor to partner with VaultSpeed for the company’s next growth stage.”

 

ABOUT VAULTSPEED

VaultSpeed is the Automated Data Transformation solution of choice for leading companies.  By combining automation templates, a data modeling GUI and a metadata repository in one platform, VaultSpeed helps businesses improve delivery and maintenance of their cloud data warehouse or lakehouse. With offices in London, Seattle, Leuven and Vilnius, VaultSpeed works with the likes of HDI, Olympus, Eurocontrol or Bleckmann. www.vaultspeed.com

 

ABOUT OCTOPUS VENTURES

Octopus Ventures is one of the largest and most active venture capital investors in the UK and Europe, investing in and supporting the people, ideas, and industries that are changing the world. It has built expertise across seven sectors: B2B software, climate tech, consumer tech, deep tech, fintech, biotech and health, and has backed more than 180 businesses across the UK and Europe, including successes like Zoopla, WaveOptics, and Depop. Octopus Ventures invests in people and teams from as early as ideas on a page all the way through to the later stages of growth, providing capital, expertise, and partnership. Octopus Ventures manages £1.9 bn for retail and institutional investors and invests £200m yearly. It is part of Octopus Investments, an investment company investing in the people, ideas and industries that will change the world. Hear from Octopus Ventures experts at www.octopusventures.com

 

ABOUT FORTINO CAPITAL

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. Fortino’s Venture Capital portfolio includes Vertuoza (BE), TechWolf (BE), Timeseer.ai (BE), Zaion (FR), Salonkee (LUX), Sides (DE), D2X (NL), Peers (DE) and Kosli (NO) among others. Fortino Capital’s private equity growth portfolio includes VanRoey (BE), BizzMine (BE) MobileXpense (BE), Efficy CRM (BE), Tenzinger (NL), SpeakUp (NL), Cenosco (NL), Maxxton (NL), Stardekk (BE) and Bonitasoft (FR).

 

ABOUT PMV

As an investment company, PMV is building a sustainable Flemish economy, the engine of our prosperity and well-being. We partner with ambitious companies and projects that focus on social impact and financial return. PMV finances promising companies from the very start, through growth and internationalization. PMV offers tailored financial solutions to all entrepreneurs with a good business plan and a strong management team. It does so with capital, loans and guarantees. It also realizes, with and for the government, and other partners, projects that are important for prosperity and well-being in Flanders. PMV has a portfolio with 1.7 billion euros under management. Visit PMV’s website for more information (https://www.pmv.eu/en/).

 

ABOUT BNP PARIBAS FORTIS PRIVATE EQUITY

BNP Paribas Fortis Private Equity is the risk capital company of BNP Paribas Fortis. It has been operating in the private equity market in Belgium since the 1980s. BNP Paribas Fortis Private Equity currently acquires minority stakes and provides mezzanine financing to high-performance medium-sized companies. BNP Paribas Fortis Private Equity also invests in specialized venture capital and private equity funds in the Belgian market. Direct holdings of BNP Paribas Fortis Private Equity include Studio 100, Konings, eTheRNA, Hannecard, Quality Assistance, and PointChaud.

 

ABOUT CRONOS GROUP

At the Cronos Group, we unite entrepreneurship with a passion for innovation. Our technological expertise is harnessed to not only create opportunities but also foster growth and bring visionary ideas to life. We actively invest in startups, incubate promising concepts, and provide the resources, mentorship, and know-how needed for their success. With the spirit of entrepreneurship embedded in our DNA, we aim to create a future where innovation and human progress go hand in hand.  For more information, please visit https://cronos-groep.be/

 

ABOUT ICON CORPORATE FINANCE

With offices in London, Bristol and San Francisco, ICON specialises in M&A and fundraising internationally, working closely with the global M&A, Venture Capital, Private Equity and CVC communities.  Among its many deals, ICON has advised on exits to the like of Accenture, Crayon, Aptean, IQVIA, Aviva, NTT, Syniti, Telstra, and completed fundraising with JP Morgan, Synova, BGF, YFM, Mobeus and Moodys. Sector expertise includes AI & DataTech , FinTech, Cyber, HealthTech, Digital Media, EnablingTech, Enterprise Software and Managed Services.

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AMCS acquires Figbytes to reinforce its commitment to ESG solutions for its customers globally

Clearlake

Adding FigBytes’ technical expertise and market presence will allow AMCS to offer a powerful EHSQ and ESG solution to serve clients worldwide

 

Limerick, Ireland/OTTAWA, Ontario, Canada – October 31, 2023 – AMCS, a leading global supplier of integrated cloud-based software and vehicle technology for the environmental, utilities, waste, recycling, and resource industries, announced today that it has acquired FigBytes, creators of the leading Sustainability Platform for impact-focused organizations, for an undisclosed amount.

 

This is the second strategic move for AMCS in the Environmental, Social, and Governance (ESG) space, following the acquisition of Quentic in June 2022. These recent acquisitions highlight the company’s commitment to invest globally in the environmental services industry. The strong market presence of FigBytes technology in North America is complementary to the presence AMCS has established in Europe. This acquisition will enable AMCS to better serve clients around the world with cloud-based SaaS solutions that help them reach their sustainability goals and manage increasingly complex regulatory reporting requirements.

 

“Our mission is to create an environmentally sustainable future for our clients and their families, and we are excited to have FigBytes join us in these efforts,” said Jimmy Martin, CEO of AMCS. “This acquisition underscores our mission to provide integrated, secure, and future-proof environmental software solutions that help clients across the globe accelerate their growth and sustainability.”

 

The FigBytes platform will further strengthen AMCS’ current offerings for ESG reporting and data management and complement the company’s existing capabilities. AMCS now has ESG expertise spanning Europe and North America and can offer global solutions for sustainability and compliance to customers, encompassing all the regulatory considerations of the different regions. For example, the new mandatory EU CSRD regulation will affect most companies at different times in the future. These companies must manage their ESG data and ensure auditable reporting through the ESRS reporting framework. For effective data management and accurate reporting and to fulfill requirements related to this regulation and others, FigBytes provides added value for AMCS customers.

 

“For nearly a decade, we have equipped sustainability leaders everywhere with robust tools, resources, and expertise in order to put their ESG and sustainability programs into action,” said Ted Dhillon, CEO and co-founder of FigBytes. “The combination of FigBytes’ award-winning Sustainability Platform and the AMCS suite of Environmental Software Solutions provides organizations with a unique, compelling offering and one of the clearest digital pathways to a more sustainable future while enabling them to comply with ESG regulations around the world.

 

I’m incredibly confident that our alignment with AMCS will unlock tremendous opportunities for organizations to make an even greater positive change for people and the planet.”

 

About FigBytes

FigBytes software platform helps customers track and report on their ESG targets in areas including carbon accounting, climate action, water impacts, and supply chain activities. The FigBytes system automates reporting and provides complete insight into ESG activities in a single platform. To learn more, visit https://figbytes.com/.

 

About AMCS

AMCS is a market leader in integrated software and vehicle technology for the environmental, waste, recycling, and resource industries and provides optimization solutions for the broader transportation and logistics market. AMCS helps more than 4,000 customers worldwide reduce operating costs, increase asset utilization, optimize margins, and improve customer service. The company’s enterprise software and SaaS solutions deliver digital innovation to the emerging circular economy around the world. Learn more at www.amcsgroup.com.

 

Media Contact:

Clara O’Mahoney

AM O Sullivan PR

Clara@amosullivanpr.ie

M +353 (87) 9261207

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Unanet Launches New Asset, Inventory and Project Manufacturing Capabilities to Give GovCons the Scalable Solutions They Need for Complex Projects

JMI Equity

Acquisition of Flowtrac yields new capabilities to meet federal standards, automate tasks and improve productivity

Dulles, VA, November 1, 2023 – Unanet today announced new inventory and project manufacturing features for government contractors (GovCons). As the leading provider of enterprise resource planning (ERP) and customer relationship management (CRM) solutions for GovCons, Unanet is following through on its commitment to innovating its technology and meet the ever-growing needs of its customers. 

Carefully managing materials, inventory, assets, and the manufacturing process is a growing need among thousands of GovCons that deliver made-to-order products to their federal agency clients. From ruggedized laptops for the military to packaging vaccines for delivery, these products are highly specialized and require detailed and unique specifications along with ongoing project management, all of which must meet various compliance requirements. In addition to automating procurement, tracking government furnished property (GFP), supply chain management and other operations, Unanet’s customers can stay compliant by keeping inventory and manufacturing aligned with their accounting and ongoing project management.  

“GovCons told us they want these capabilities synchronized with their accounting and project management, so we listened and acted. We are committed to ensuring our customers have the tools they need for success,” said Craig Halliday, CEO of Unanet. “We’re effectively integrating best-in-class capabilities, so our customers have a one-stop-shop that meets all their needs upon implementation. Today’s news is just one more example of how we’re redefining what it means to be a customer-first solution provider.” 

Unanet’s inventory and project manufacturing capabilities come through a recent acquisition of Flowtrac Software, an exclusive Unanet partner who has fully integrated offerings within the Unanet platform. GovCons of all sizes such as Blue Halo and Innoflight have successfully integrated Unanet ERP with the Flowtrac tools.  

“The integration of Unanet and Flowtrac allowed us to streamline our processes and reporting to effectively manage procurement and inventory. We have seen reduced processing time and overhead costs while also getting everything we need for audit compliance,” said Patrick Lenahan, CFO of Innoflight. 

By acquiring the capabilities, Unanet now has the features as part of its platform, while also having the ability to invest in and refine the tools so they meet customers’ expanding needs. 

Available today, Unanet GovCon ERP with inventory and project manufacturing gives customers: 

  • Automatic connections between inventory, assets, manufacturing and finance. 
  • Simplified compliance with built-in guardrails and audit trails. 
  • Bill of materials (BOM) integration and project matching to track and allocate costs automatically.  
  • Ability to track products by quantity, lot, and even by serial/tag code. 
  • Inventory status and location down to aisle, bin and shelf. 
  • Receiving and ordering with BOM integration to automate backorder and task assignments. 
  • Customizable invoicing and billing workflows. 

Unanet’s acquisition of Flowtrac was a strategic move to add capabilities that will enrich the overall GovCon customer experience. Flowtrac will continue to provide industry-leading asset, inventory, and project manufacturing capabilities to the wide variety of industries it serves today. Currently, Flowtrac’s solutions are used by dozens of major GovCons and other successful companies.  

“Unanet’s customer focus, its drive to innovate, and its designation as a top workplace align closely with our culture, and our two companies complement each other perfectly,” said Stacy Tate, President and Founder of Flowtrac. “We are thrilled with the value our combined companies will deliver and look forward to a bright future, together.” 

“We welcome Flowtrac’s team and customer base to the Unanet family,” continued Halliday. “The possibilities for growth in a wide variety of industries and geographies are beneficial near-term and long. As a united team we will demonstrate true service and innovation, so our customers can achieve success on their terms.”  

About Unanet
Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for government contractors, architecture, engineering, construction, and professional services. More than 3,700 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, maintain regulatory compliance, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit www.unanet.com.  

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