Iris Capital and current shareholders invest €20 million in Enterprise Performance Management company Jedox
- The invested funds will allow Jedox to pursue its international expansion and product development
- Current shareholders eCAPITAL entrepreneurial Partners AG and Wecken & Cie., contributed a major part of the investment
Many companies are still struggling to digitize their business processes. Iris Capital, one of the leading European venture capital companies, is investing in Jedox, a world-class software solution that helps enterprises with their digital transformation. Iris Capital will invest along with eCAPITAL and Wecken & Cie. a total of 20 million euros. This funding will be used to accelerate Jedox’s global expansion and product development.
Jedox offers self-service software for Corporate Performance Management (CPM). Relying on its cloud-based platform and unique architecture, it supports its users with seamless solutions for budgeting, planning and forecasting in combination with intuitive analyses and business intelligence dashboards.
The tech company was founded 2002 in Freiburg, Germany. Today, the company employs over 160 people to support customers out of 8 offices in Germany (Freiburg, Frankfurt, and Düsseldorf), the USA (Boston), France (Paris), Australia (Sydney, Melbourne) and Asia (Singapore). Clients of Jedox’s CPM platform add up to 2,300 companies, including some of the world’s largest firms based in 140 countries.
“Jedox’s vision to make Enterprise Performance Management seamless shows our commitment to bring the promise of integrated planning, budgeting, and forecasting to life,” says Kay-Ingo Greve, Jedox CEO. “Today, most companies are slowed down in execution because planning and budgeting is such an ambiguous process. Jedox helps enterprises to radically improve productivity and reduce planning cycles from months to weeks. With the support of Iris Capital and our core investors, we can further accelerate the international growth of Jedox – driven by the most modern in-memory, GPU-powered modelling platform while embracing and not replacing the existing IT infrastructure," Greve adds.
"Jedox is an amazing company that helps to radically automate complex corporate processes without disrupting employees’ work interfaces," says Curt Gunsenheimer, Senior Partner at Iris Capital. "We at Iris Capital, believe that disruptive technology must be made intuitive for the end users, and Jedox has built its success on that premise. The company has achieved impressive international development over the past ten years, and we’re happy to support its next stage of growth."
Dr. Paul-Josef Patt, CEO of eCAPITAL, who led this financing round on behalf of the existing investors, further points out: “This new financing will enable Jedox to leverage the impressive business momentum it has gained in recent years in order to take the next leap in product innovation, cloud transition and billings growth. The company increased billings by more than 50% in 2016 and tripled its cloud business in 2017 – we are excited to see what 2018 has in store.”
Jedox simplifies planning, analysis, and reporting with one unified and cloud-based software suite. Jedox empowers decision makers and business users across all departments and helps them work smarter, streamline business collaboration, and make insight-based decisions with confidence. Over 2,300 organizations in 140 countries use Jedox for real-time planning on the web, in the cloud, and on any device. Jedox is a leading Enterprise Planning and Corporate Performance Management solution provider with offices on four continents and with over 200 certified business partners. Independent analysts recognize Jedox for its leading enterprise planning solutions. Simplify planning with Jedox and start your free trial today: www.jedox.com
About Iris Capital
Iris Capital is a European venture capital funds’ manager specialized in the digital economy. It fuels entrepreneurs at various stages of maturity, from early-stage to growth equity. With its deep sector specialization and extensive experience acquired over 30+ years, as well as the backing of its corporate sponsors, Iris Capital provides active support to its portfolio companies, through its presence in Paris, Berlin, San Francisco, Tel Aviv, Tokyo and Dubai.
IrisNext, Iris Capital’s new fund, includes for its first closing industry leaders such as Orange, Publicis and Valeo, joined by financial investors and institutions such as Bpifrance and BRED Banque Populaire. Iris Capital investments include, among others, companies such as Adjust, Careem, HappyCar, Kyriba, Open-Xchange Mojio, Mopub, Netatmo, ReBuy, Scality, Search metrics, Shift Technology, Studitemps, Talend and Unu Motors. For more information, visit www.iriscapital.com
About Wecken & Cie.
Wecken & Cie. is the investment vehicle of the Family Office of Klaus Wecken and located in Basel, Switzerland. The company’s investment focus is on innovative technology firms in the D-A-CH region that operate in the areas of MedTech, Internet and Software.
eCAPITAL entrepreneurial Partners AG is a Münster-based alternative investment fund manager (AIFM) in accordance with EU-directive EuVECA. As a leading German venture capital firm, eCAPITAL has supported innovative entrepreneurs in future-oriented industries since 1999. The firm focuses on rapidly growing companies in the areas of Software / IT, Cleantech, Industry 4.0 and New Materials. Currently, eCAPITAL manages six funds with a total of over 220 million euros under management.
Find more information under http://ecapital.de/de/