Led · Series A · May 2023

CyberVadis provides enterprises with a scalable third-party cyber risk management platform that performs evidence-based cybersecurity and data privacy assessments for a fixed annual fee. Its methodology maps international compliance standards including NIST, ISO 27001, GDPR and other privacy and security laws to produce standardized cybersecurity ratings and detailed improvement plans. Customers can share standardized ratings and collaborate with third parties on implementing better practices via the platform. The company has assessed the cybersecurity and data privacy maturity of thousands of third parties across 96 countries. Led by CEO Edouard Lacarrière and based in Paris, CyberVadis raised €7M in a Series A to hire talent, expand its team to serve new clients beyond traditional markets, accelerate innovation and continue enhancing its platform. Board changes include Uli Beckman of lead investor Zobito AB joining the board alongside EcoVadis’ co-founders and existing investors CVC Growth Partners and Partech.

Participated · Series C · Nov 2021

Bitrise builds a mobile DevOps platform that automates core workflows for iOS and Android development, shortens release cycles, and provides developers better visibility into how code changes affect live apps. The remote-first company was co-founded in October 2014 and is headquartered in Budapest, with additional offices in London, San Francisco, Boston and Osaka. Bitrise serves over 100,000 developers across more than 6,000 mobile organizations and says it is doubling revenue year over year. The company has tripled headcount since joining Y Combinator’s Growth Program and plans to grow its employee base to about 300 across engineering, product, sales and growth. New capital will be used to expand product capabilities for continuous integration and delivery and to enhance observability across the full DevOps lifecycle. Bitrise provides a purpose-built CI/CD platform for mobile app teams, automating builds, testing, and delivery across Android, iOS, React Native, Xamarin, Flutter and more. The platform processes over 1,500,000 monthly mobile builds and supports more than 200 integrations, serving close to 100,000 mobile developers and customers including Mozilla, Travelex, Virgin Mobile and others. The company says half of mobile unicorn startups have continued using Bitrise from early stages through IPOs and beyond, and it increased revenues tenfold in less than two years. Bitrise acquired monitoring company Outlyer earlier this year. The firm plans to evolve into a full mobile DevOps platform, expand the stages of the DevOps process it covers, and double supported integrations to 400 by year-end. It will also use new capital to ramp hiring in its US, UK and Hungarian offices, expand its remote workforce, and explore new locations. Bitrise provides a mobile continuous integration and delivery (CI/CD) platform that automates building, testing, and deployment for iOS, Android and other platforms. The product is extensible and open source, with a developer integration library and an active open source community on top of the core product. It is used by companies including Foursquare, Fox, InVision and Grindr and by more than 20,000 developers worldwide, with main user bases in the US and UK and a growing presence in Japan. Bitrise plans to expand its team in Hungary and grow its US office while improving the integration library and adding new add-ons such as user analytics and reporting. The company also intends to roll out an enterprise support solution to serve larger customers. Bitrise recently raised a $3.2 million Series A to support these efforts.

Participated · Equity · Nov 2020

inRiver provides a SaaS-based product information management (PIM) solution that integrates with other technologies to enable customers to sell more products online. The platform targets branded manufacturers, industrial manufacturers, and retailers, helping them deliver better customer experiences across any channel or marketplace. Led by CEO Thomas Zanzinger, the company operates from Malmö and also has offices in Chicago and Amsterdam. inRiver focuses on continued product development and integration within the ecosystem. The company plans to use recent funding to meet customer demand and to support further global expansion. inRiver develops Product Information Management (PIM) software that collects and customizes sales materials — videos, text, and images — and presents product information uniformly across sales channels. Its platform is used by customers including Volvo, L'Oreal, Converse, and Fujifilm. The company is Malmö-based and currently employs 88 people. Management said the company has a product that delivers, strong market potential, and good financial results. The recently raised funds will primarily be used to strengthen the company's research and development unit. The financing package included contributions from existing investors and a loan component from an EIB fund. inRiver offers an enterprise Product Information Management (PIM) platform available as SaaS that helps multi-channel commerce professionals build, maintain and distribute product content and storytelling across channels. The company emphasizes fast implementation and ease of use to support B2B and B2C e-commerce, digital marketing and customer experience workflows. Customers named in the coverage include Office Depot, BMW, Volvo and Fujifilm. inRiver reports having grown more than 70% a year for the past four years. The firm was founded in 2007 and operates from headquarters in Sweden with offices across Europe and the US; its North American operations have been run from Chicago since 2014. Future plans cited include continued product development, expanded marketing support, increased hiring and accelerated global growth to strengthen its position as a category leader in PIM.

Participated · Series B · Jan 2020

Founded in 2014 by Fredrik Skantze and Per Made, Funnel offers a cloud marketing intelligence platform that lets organizations collect, structure, visualize, and analyze data from more than 600 marketing sources. Customers range from global brands such as Adidas and Sony to leading agencies like Publicis and Havas. The company is transitioning to an AI-first architecture, adding agentic measurement tools and recently rolling out Data Chat, a conversational analytics feature enabling natural-language queries. With its scalable data infrastructure, Funnel aims to deepen analytics capabilities and expand internationally. Management is also focused on boosting operational efficiency and edging toward profitability. The firm’s financial strategy now includes an $80 million debt facility to fund development, global expansion, and AI initiatives while refinancing earlier borrowings.

Led · Equity · Jan 2019

Quinyx provides AI-powered workforce management software that automates scheduling, time reporting, communications, task management, budgeting and forecasting for hourly workforces. Its platform is used globally by customers including McDonald’s, Domino’s, Maersk, IHG, Sysco and DHL. The company says the product improves productivity, reduces labor costs and enhances the employee experience and retention. Quinyx has experienced strong growth over the past year driven by demand from organizations managing hourly staff. Management says the $50M funding will be used to accelerate innovation and geographic expansion to better serve millions of hourly workers. Quinyx maintains offices in the U.S., U.K., Australia, Sweden, Finland, Germany, Norway, Denmark and the Netherlands and has global implementations of its software. Quinyx provides cloud-based workforce management software focused on shift-based and flexible workers, offering scheduling, shift planning and swapping, timesheet functionality via mobile check-ins, task management and payroll integration. The product targets sectors with large numbers of hourly workers and lists clients including McDonald’s, London City Airport, Burger King, Rituals, Swarovski, IHG, Boots, Daniel Wellington and Odeon Cinemas Group. The company reports close to 500,000 employees on its platform and says its core customer base is in Europe, with offices in the U.K., Sweden, Finland, Germany, Norway, Denmark and the Netherlands. Quinyx was founded in 2005 by CEO Erik Fjellborg. The firm cites a global workforce management market opportunity of about $2.4 billion. New funding is intended to accelerate rollout of innovative features and new AI technologies to automate and streamline workforce management processes and embed those technologies into the platform. Quinyx provides cloud-based workforce management software that handles employee scheduling, shift planning and swapping, timesheets via mobile apps, task management, communication and payroll integration. The product also includes budgeting and forecasting tools aimed at replacing spreadsheets and legacy on-premise systems. It targets employers of shift-based workers in industries like fast food, retail and hospitality; McDonald’s was its first customer. The company claims over 275,000 users across 20 countries and counts customers such as Papa John’s, Rituals Cosmetics, London City Airport, DHL, Humana and Debenhams. Quinyx was founded in 2005 by CEO Erik Fjellborg, who developed the idea after working at McDonald’s. The company recently raised additional funding and Battery Ventures says Quinyx has “just scratched the surface,” signaling plans to expand its market and product reach. Quinyx offers cloud-based and mobile workforce management software focused on scheduling, shift planning and swapping, timesheet functionality via mobile check-ins, and budget forecasting. Its customers include fast-food chains such as McDonald’s (its first customer), Burger King, Subway, Friday’s and Vapiano, and it has expanded into other industries serving companies like FedEx, Decathlon, Santander Bank and Compass Group. The product targets employers with flexible, shift-based workforces to replace spreadsheets, pen-and-paper methods, and legacy on-premise systems. The company reports revenue of $7 million this year. Quinyx was founded in 2005 and is headquartered in Stockholm. The founder and CEO Erik Fjellborg remains the largest individual shareholder.