Verdane realises Clausion to insightsoftware after 4-year ownership, close to 100% ARR growth and successful SaaS transformation
Verdane, the European specialist growth equity investor, is pleased to announce its exit from Clausion, a provider of cloud-based corporate performance management solutions and services, to insightsoftware, a global provider of reporting, analytics, and performance management solutions. During Verdane’s holding period, Clausion increased revenues by 50% and annual recurring revenues by closer to 100%, driven by growth in the Company’s new SaaS suite.
Verdane first invested in the Company in 2017 as part of a portfolio carveout from Basware, a listed Finnish cloud-based solution provider. Following the acquisition, Verdane initially focused on establishing an independent business with a new management, brand and corporate structure. With these in place, the firm partnered with the new Board and management to develop a value creation plan which would seek to help the Company develop a cloud-based version of its existing product, increase revenues, broaden Clausion’s market reach, and increase its international footprint.
With Verdane as a partner, Clausion has become a cloud-based platform for planning and financial consolidation, designed to work as the centre for all financial data for companies across all size-classes. It offers near real-time, on-demand access to an organisation’s operational and financial data and converts that data into one unified form. Users can focus on analysing the data rather than collecting it, ultimately saving time and money, and lowering overall risks.
During the investment period, the Company launched its SaaS product which started gaining commercial traction in 2021. As of today, over 50 percent of Clausion’s software sales are generated by the product, stemming both from existing customer upgrades and onboarding new customers. With this launch, the appointment of an expert commercial team, and the opening of a new office in Sweden, Verdane and Clausion were able to grow sales and attract new international customers, with several more negotiations in the pipeline. In addition, Verdane also support Clausion in identifying M&A opportunities, leading to the acquisition of Finnish corporate performance management company Tabella, which improved Clausion’s offering towards SMEs.
Iikka Moilanen, Investment Professional at Verdane, said: “Verdane is pleased to have contributed to Clausion’s success as the Company now enters the next phase of its growth. Having started by building an independent business after many successful years under Basware, the Clausion team has during the past four years successfully launched the current cloud-based product and taken the first steps towards internationalisation of the company. Following its acquisition of Tabella, Clausion has also broadened its offering to cover the needs of customers from SME to enterprise. I’d like to take the opportunity to thank and congratulate Tomi and the entire team both at Clausion as well as insightsoftware. We are confident that Clausion’s product will provide a great addition to insightsoftware’s portfolio, helping improve quality in financial reporting for customers in new markets globally.”
Verdane has a strong record investing in tech-enabled businesses, including software, having been named the most active financial investor in Nordic software growth companies 2016-2020 in 2020 by PwC, and declared a Top 4 most active GP acquirer of Nordic-based companies by deal count 2015-2021 by Pitchbook in 2021. The firm currently holds over 30 software businesses in its portfolio, including companies like Nomentia, Eduhouse, Evondos, inriver, Danelec Marine, meister, Papirfly, Parkopedia, StudyTube and Voyado.
Financial terms are not being disclosed.
Clausion is an independent and experienced growth company offering cloud-based corporate performance management solutions and services that enable customers to succeed in their daily lives. Their industry independent solution combines financial consolidation and business planning systems, including add-on package solutions for IFRS, any GAAP, and Public Sector.
More info: www.clausion.com
Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes; the Digital Consumer, Software Everywhere and Sustainable Society. Verdane funds hold over €4 billion in total commitments and have made over 135 investments in fast-growing businesses since 2003. Verdane’s team of over 100 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
More info: www.verdane.com
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