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
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.
What does this funding mean for the company?
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 recognized 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
“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.
“As businesses have become more global, and workforces more distributed, business processes have proliferated, and become more complex,” noted Mr. O’Keefe and Mr. Beith.
“Signavio’s cloud-native suite allows employees across an enterprise to collaborate and transform their businesses by digitizing, optimizing and ultimately automating their processes. We are tremendously excited to partner with the Signavio team and to support their vision.”
How will this funding be used for the Australian market?
Digital innovation is projected to be worth hundreds of billions in terms of
“Our focus will be on investing in and helping drive enterprise-wide deals around process mining, following the growth trajectory in the market in Australia,” said Mr. Decker.
“We’re investing in
“We’re dedicating ourselves to the market, so most of the customer touchpoints with our customers will happen on a local level. We plan to double the team in Australia over the next 12 months, including looking at expanding our presence across different cities.”
What are the top goals Aussie execs are hoping to achieve with Signavio?
Mr. Decker said, “What we’ve noticed in Australia is that some of our biggest customers are not only looking at how to better connect their people and staff, including connecting their operational environment with their user and customer experience, but very much looking at ways to leverage the vast amount of data streaming into their organisation on a daily basis.
“Australian executives are looking to make decisions based on data, and that means being able to use simulation models to do more with less, as well as understand where the impacts will be before they occur.
“There are three main elements in Australia that form a large part of the conversations we are having across the market. Technology and automation; robotics and AI; and how our clients can offer their customers a vastly better customer experience, across all of their customer touchpoints.
“For example, in the Australian market, which is quite mature, we’re finding banks are using process management to not only handle their risk & compliance
“Executives are looking to see how their digital transformation initiatives stack up against their customer-facing offerings.”
He continued, “For utilities and telecommunications companies, we’re seeing how important this is as well. Everything from the customer experience in terms of the purchase to pay process, through to managing service delivery issues.
“Our customers want to be able to see how something is operating in one of their branches in regional New South Wales, versus how something is working in an inner-city location in Melbourne, for example.”