Vienna, Austria -- January 23 2017 Tricentis, raises $165 million from Insight Venture Partners to Deliver Continuous Testing at the Speed of DevOps.
A little-known Austrian software company is looking to snatch business from established players HP Enterprise (HPE) and IBM in the market for software testing tools, after raising $165 million from a U.S. private equity firm.
Tricentis, founded in Vienna in 2009 and now headquartered in the Silicon Valley town of Los Altos, has emerged as a leader in automating how big businesses test and deploy software, despite having raised little outside funding previously.
On Monday, the company said it will receive $165 million in financing from Insight Venture Partners, a software-focused private equity firm based in New York. Previously, Tricentis relied on "bootstrap" funding from its own operations and had taken only one outside financing round, a $9 million early-stage investment from Frankfurt-based venture firm Viewpoint, now part of Kennet Partners, in 2012.
As part its investment, Insight bought out Kennet's stake in Tricentis and is now its sole outside shareholder. Pacific Crest Securities acted as financial advisor to Tricentis, it said. The company, which counts 120 employees in Vienna, 25 in the United States and roughly another 120 employees around the world, is looking to use its new financial backing to dramatically boost its sales efforts in the U.S. market, where it employed just five sales people, CEO Sandeep Johri said.
"We can take Tricentis into becoming a global company," Johri told Reuters. "We have all the ingredients to really scale it."
The company currently counts more than 400 corporate and government customers concentrated in Central Europe, the United States, Australia and India. They include Allianz, BMW, Starbucks, Deutsche Bank, Orange, Toyota and UBS.
Tricentis ranks as the leader in software test automation by research firms Gartner and Forrester, a market where it has made inroads against established players HPE (HPE, +3.57%), IBM (IBM, +0.71%), and a variety of startups by taking a highly automated approach to testing in contrast to older script-based approaches of rivals, Johri said. Demand for Tricentis tools is being propelled by the wider shift to "agile" programming techniques where software developers at big companies rely on small, informal teams and rapid development cycles to deliver software more efficiently.
Broadly speaking, the global software testing market is estimated to generate $34 billion in 2017, according to market research firm Nelson Hall. Companies such as HPE and IBM hold big chunks of this market with software testing lines that boast broad product offerings, but also date back up to 20 years.By focusing on automating up to 90% of the work of software testing, Johri said Tricentis can take market share from more manual testing approaches of rivals, in what he says is a multi-billion-dollar slice of the software testing market.
About Tricentis
Tricentis, the Continuous Testing Company, specializes in agile market leading software testing tools for enterprises. We help Global 2000 companies adopt DevOps and gain success by achieving automation rates of over 90%. Our integrated software testing solution, Tosca Testsuite, consists of a unique Model-based Test Automation and Test Case Design approach, encompassing risk-based testing, test data management and provisioning, service virtualization, and more. We are established as a reliable enterprise partner, helping to deliver significant performance improvements to testing projects.
Prominent analysts have recognized us as a Leader in both Software Test Automation and in Functional Automation Tools, with Model-based Test Automation as our standout feature. Tricentis’ 400+ customers include global names from the Top 500 brands such as ExxonMobil, HBO, Whole Foods, Toyota, Allianz, BMW, Starbucks, Deutsche Bank, Lexmark, Orange, A&E, Vantiv, Vodafone, Telstra and UBS.
Tricentis has offices in Austria, Australia, Germany, India, Netherlands, Switzerland, Poland, United States and the UK.
About Insight Venture Parnters
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth software, mobile and internet companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on Twitter: @insightpartners.
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New York, NY-- September 08 2016 Nuxeo, developer of a leading Enterprise Content Management (ECM) platform which enables organizations to manage complex digital content at massive scale, today announced that Goldman Sachs has made a $20 million investment in the company. This adds to the $10 million commitment by Kennet Partners announced in June, for a total of $30 million.
Some of the investment will be used to fuel the continued development of Nuxeo's market leading content and digital asset management platform and expand sales and marketing capacity throughout North America, Europe and Asia.
"Today's enterprises face increasing content and digital asset management challenges, especially when it comes to the increasing complexity, volume and diversity of digital content and its delivery channels," said Eric Barroca, CEO, Nuxeo. "At Nuxeo, we're delivering consistent innovation to address these challenges with the flexible, high-performance platform today's enterprises need to manage growing volumes of complex digital content. With this additional investment from Goldman Sachs we will further accelerate our technical leadership while fortifying our global sales, support and marketing operations to capitalize on this significant market opportunity.
Nuxeo has already demonstrated a significant technology lead, with cloud-scale performance, a native NoSQL persistence engine and advanced analytics. With this investment the company will further these advancements with more NoSQL back ends, connectors for additional Big Data analytics solutions and Machine Learning engines and enhanced mobile and cloud connectivity. This increased investment will also enable Nuxeo to rapidly invest in its sales and customer service capacity in North America while building a greater business presence in Northern Europe and Japan.
Christian Resch at Goldman Sachs Private Capital, will join the Nuxeo board.
"With its growing complexity enterprises find it increasingly challenging to effectively use and manage digital assets," said Christian Resch. "With this new investment, Nuxeo is strategically positioned to capitalize on this opportunity by accelerating innovation and further building its impressive roster of customers across a large and diverse set of markets."
About Nuxeo
Nuxeo provides an extensible and modular Enterprise Content Management Platform enabling architects and developers to easily build and run business applications. The Nuxeo Platform offers modern technologies, a powerful plug-in model and extensive packaging capabilities for Document Management, Digital Asset Management and Case Management applications. Over 1,000 organizations rely on Nuxeo to run business-critical applications, including the IRS, Electronic Arts, Verizon, Sharp, Capital One, and the U.S. Navy. Nuxeo is headquartered in New York and Paris. More information is available at www.nuxeo.com.
About Goldman Sachs Private Capital Investing
Goldman Sachs Private Capital Investing ("PCI") is Goldman Sachs' investment platform dedicated to providing long term capital to growth and middle-market companies throughout Europe and Israel. PCI Invests $20 to $150 million per transaction in the form of common, preferred and structured equity.
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12 July 2016 Rakuten Marketing announced that it has acquired Nextperf, a company with advanced machine learning for real-time ad and creative optimisation. While increasing its presence in Europe, this integration complements the existing Rakuten Marketing display technology with enriched user scoring and ad intelligence.
These enhancements to Rakuten Marketing award-winning ad technology follow recent investments in mobile, social and cross-device technologies, as well as the activation of data intelligence from across the Rakuten network. By reinforcing its long-standing capabilities with Nextperf ad intelligence, Rakuten Marketing is demonstrating its continued pursuit to empower marketers with the most effective technology for shaping consumer experiences and improving multi-channel performance.
“Rakuten Marketing highly values technological innovation, and the best way to deliver optimal performance to our clients is by continuously evaluating how we can improve and advance our offerings,” said Tony Zito, CEO, Rakuten Marketing. “We welcome Nextperf as a strategic addition to our technology and an anchor for expanding our presence in continental Europe.”
“We’re excited about the opportunities that lie ahead for Nextperf and our team as we join forces with Rakuten Marketing,” says Nextperf CEO, Vincent Karachira. “Throughout the process, we have been impressed with Rakuten Marketing’s vision to empower marketers, and are eager to deliver that vision to our clients globally.”
About Rakuten Marketing
Rakuten Marketing is the global leader in omnichannel marketing, delivering its vision of driving the omni experience – marketing designed for a streamlined customer experience. Offering an integrated strategy that combines consumer centric insights with e-commerce expertise, Rakuten Marketing’s omnichannel services include Rakuten Affiliate Network (formerly LinkShare), Rakuten Display, Rakuten Search and Rakuten Attribution.
Operating as a division of Rakuten Inc. (4755: TOKYO), one of the world’s leading Internet service companies, Rakuten Marketing is headquartered in New York City, with additional offices in Australia, Brazil, Japan, the United Kingdom, and throughout the United States.
About Nextperf
Nextperf is a world leader in retargeting solutions and artificial intelligence applied to online advertising. The company is active throughout Europe as well as in Brazil and North America, and boasts a portfolio of nearly 1,000 clients for whom it guarantees the highest market ROI. Nextperf provides a scalable platform that allows marketing departments to manage their display budget alongside real-time analysis of user profiles, purchases and dynamic content creation. Constantly innovating, the company develops new models (skin retargeting, web to store, consumer advice within banners, video) and is able to carefully segment its targets.
Further information is available on the Nextperf website: http://www.nextperf.com/
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New York, USA -- June 08 2016 Nuxeo, developer of a leading Enterprise Content Management (ECM) platform which enables organizations to manage complex digital content at massive scale, announced today that it has closed a financing round with $10 million committed by Kennet Partners. The capital will be used to expand sales capacity in North America and support international growth in Europe and Asia.
Since its last funding in 2013, Nuxeo has experienced substantial growth, particularly in the US which now represents half of the company's revenues, and has established itself as a key challenger in the ECM market.
Over the last year, the company has announced several innovations which address the evolving ECM market. These include NoSQL technology with Elasticsearch-based native indexing and a native persistence engine for MongoDB, native cloud support (including native connectors and UX integrations for Dropbox, Google Drive, Microsoft OneDrive and Box) and advanced scaling capacity. As a result, Nuxeo is better able to support core, business critical applications for its customers as they transition to a digital-first workplace.
"The ECM market is facing a significant transformation due to three major disruptions: complexity of data, volume of digital content, and diversity of delivery channels. As such, legacy systems are not equipped to face the rapidly evolving enterprise requirements for managing content. This investment will help us respond to the increasing demands for a flexible, extensible and powerful platform by accelerating the hiring of world-class developers and growing our international presence in areas such as Northern Europe and Asia," said Eric Barroca, CEO at Nuxeo.
The new investment from Kennet Partners will fuel growth and be used to continue the development of Nuxeo's innovative platform for the management of complex digital assets and to reinforce sales & marketing worldwide.
"Nuxeo is transforming the way enterprises are building content management applications by creating the high performing and scalable systems needed to manage increasingly rich content. We're very impressed with the market traction Nuxeo is generating and we're excited to be working with Nuxeo as they continue their global expansion," said Michael Elias, Managing Director at Kennet Partners.
About Nuxeo
Nuxeo provides an extensible and modular Enterprise Content Management Platform enabling architects and developers to easily build and run business applications. The Nuxeo Platform offers modern technologies, a powerful plug-in model and extensive packaging capabilities for Document Management, Digital Asset Management and Case Management applications. Over 1,000 organizations rely on Nuxeo to run business-critical applications, including the IRS, Electronic Arts, Verizon, Sharp, Capital One, and the U.S. Navy. Nuxeo is headquartered in New York and Paris. More information is available at www.nuxeo.com.
Waterloo, ON -- June 2 2016 Open Text Corporation (NASDAQ: OTEX) (TSX: OTC), a global leader in Enterprise Information Management, announced today that it has entered into a definitive agreement to acquire privately-held Recommind, Inc., a leading provider of eDiscovery, and information analytics. Recommind’s SaaS and managed services solutions include, Axcelerate for eDiscovery review and analysis, Perceptiv for contract analytics and Decisiv for enterprise-wide information access.
With this acquisition, Recommind's market-leading eDiscovery solution will complement OpenText’s own leading enterprise information management (EIM) solutions. In addition, this acquisition is expected to expand OpenText’s expertise in cloud and developing and using analytics to solve concrete and expensive business problems.
Terms of the Agreement
The transaction purchase price is approximately $163 million. The solutions being acquired are expected to generate between $70m and $80m of annualized revenues, be immediately accretive to earnings and be on the OpenText operating model within the first 12 months after closing. The transaction is expected to close in the first quarter of fiscal 2017 and is subject to customary regulatory approvals and closing conditions.
More information can be found at investors.opentext.com.
About OpenText
OpenText is the largest independent software provider of Enterprise Information Management (EIM). For more information please visit www.opentext.com .
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Barcelona, Spain -- May 31 2016 ABA English, the online English language academy with over 10 million users worldwide, has raised $12 million in growth capital in a round led by Kennet Partners, a leading international growth equity firm. Existing investor Nauta Capital also participated in this second round of financing.
This new funding will allow the company to further develop its unique and award-winning methodology for teaching English, based on the use of film-quality videos specifically developed to enhance the student experience and encourage engagement.
Currently available in over 170 countries, among them key territories such as Brazil, France, Italy, Mexico, Russia and Spain, ABA English plans to continue its international expansion, particularly in new markets such as China and Turkey. The company also intends to develop its language learning method to encompass business-oriented areas, offering employees the opportunity and tools to improve their English speaking skills in a commercial context.
Javier Figarola, CEO and co-founder of ABA English, commented: “We aim to improve people’s lives by helping them to communicate in English, a language that unlocks all kinds of opportunities that can transform an individual’s future. Kennet’s investment will take us to the next level, not only by encouraging consumers to learn English but also by helping us to become the key training partner for organizations around the world. It will also allow ABA English to maintain its commitment to make learning English as accessible as possible to everyone through excellent mobile and web learning content.”
Hillel Zidel, Managing Director at London based Kennet Partners, who will join the Board at ABA, added: “We have been extremely impressed with the way in which ABA English has been able to grow rapidly despite limited capital resources. Its core users are strongly engaged with the platform, a testament to the quality of ABA’s product and the tangible benefits that learning English brings to its customers. We are excited to be partnering with the company as it expands into new markets.”
Another important investor is Iñaki Ecenarro, former founder and CEO of Trovit, the virtual search engine for classified ads, sold to NEXT Co in 2014 for $90 million. Iñaki will also join ABA as an independent board member.