Signavio raises $177 million to accelerate global expansion
Signavio, a leading provider of business transformation solutions, today announced a $177 million investment to fuel continued international expansion and further investment in its world-class software suite.
The transaction was led by Apax Digital, the growth equity team of Apax Partners, with participation from DTCP. Existing investor Summit Partners will retain an equity stake in the business.
Signavio’s Business Transformation Suite enables its over 1,300 customers to effectively mine, model, monitor, manage and maintain their business processes.
Its intelligent decision-making tools address digital transformation, operational excellence and customer centricity, helping place process at the very heart of organisations.
Signavio has grown its revenue by more than 70% in the last twelve months. Today the company’s software is used by more than one million users across industries and geographies, including leading companies such as SAP, Deloitte, Liberty Mutual, Bosch, Comcast-NBCUniversal.
This new investment will be used to accelerate international expansion and to further invest in Signavio’s product suite.
The company already has 9 offices across the world and is expanding operations in Japan and India, increasing its employee base by over 50% in 2019.
Earlier this year, Signavio was recognised as a March 2019 Gartner Peer Insights Customers’ Choice for Enterprise Business Process Analysis Software.
“10 years ago, we set out on a journey to tackle the time-consuming practices that limit business productivity,” said Dr. Gero Decker, CEO and co-founder of Signavio.
“This significant new investment further validates our approach to solve business problems faster and more efficiently, unleashing the power of process through our unique Business Transformation Suite.
“We are thrilled to welcome Apax Digital as our new lead partner, and look forward to building upon our success to date by leveraging our partners’ operating capabilities and global platforms for our international expansion.”
Concurrent with this investment, Daniel O’Keefe, Managing Partner, and Mark Beith, Managing Director, of Apax Digital will join Signavio’s board of directors. Summit Partners Managing Director Matthias Allgaier will retain a seat on the company’s board of directors.
Complexity of globalisation
“As businesses have become more global, and workforces more distributed, business processes have proliferated, and become more complex,” noted O’Keefe and Beith.
“Signavio’s cloud-native suite allows employees across an enterprise to collaborate and transform their businesses by digitising, optimising and ultimately automating their processes.
“We are tremendously excited to partner with the Signavio team and to support their vision.”
Matthias Allgaier, Managing Director with Summit Partners, which first invested in Signavio in 2015, said: “With innovative, intelligent and easy-to-use solutions, Signavio is helping to enable digital transformation across thousands of organisations worldwide, enabling new use cases and extending the reach of BPM software from IT to business users.
“It has been a delight to work closely with Gero and the entire team to support the company’s impressive growth thus far. We are thrilled to welcome Apax and to continue our partnership with Signavio.”
The transaction is expected to close later this year, subject to regulatory approvals.