Signavio, a digital transformation company, has collected $177m in a new investment which will support the international expansion of the company.
Apax Digital, which is the growth equity division of Apax Partners, led the round, with participation also coming from DTCP. Following the close of the deal, existing Signavio investor Summit Partners will retain a stake in the company.
These new funds will be used to fuel international expansion efforts and for further investment into is software suite. The company has nine offices around the world and is looking to open new ones in Japan and India.
Signavio’s business transformation tool suite helps 1,300 customers mine, model, monitor, manage and maintain business processes. Its technology is used by banking, insurance, retail, manufacturing and public sector industries.
Banks leverage Signavio to improve the customer service by giving them a clearer image of their operations, and identifying areas of improvement, risk and more. The technology can also be used to transform financial regulations into understandable and actionable models for all employees and systems.
Insurance firms can leverage the technology stack to optimise claims resolutions, identify touchpoints in customer journeys to improve experiences, and ensure compliant decisions are made.
In a joint statement Signavio managing partner Daniel O’Keefe and managing director Mark Beith said, “As businesses have become more global, and workforces more distributed, business processes have proliferated, and become more complex.
“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.”
In line with the deal, O’Keefe and Beith will join the Signavio board of directors. Summit Partners managing director, Matthias Allgaier will keep a position on the board.
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