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.
About Clausion
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
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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