Eqvitec fund and Industrifonden invest in eBuilder
Stockholm, Sweden: Eqvitec Technology Fund III and Industrifonden are investing a total of SEK 40 million in fast-growing eBuilder, www.ebuilder.com , which offers systems for business process integration with a Software as a Service (SaaS) business model. The company has developed solutions in logistics, purchasing and travel and provides its services online. eBuilder, which currently has a half-million users in 50 countries, will use the new capital to accelerate its expansion.
With eBuilder’s services, everyone working on the same project is linked in a standardized, cloud-based process. This may, for example, involve a complete purchasing or travel process. Or it could be as simple as ensuring that a delivery meets its contractual requirements or that a broken telephone is repaired on time. The advantage is that the processes are more accessible, less expensive and easier to use.
“Our clients obtain better control over their businesses and can quickly reduce travel, purchasing and logistics costs,” says eBuilder’s CEO, Bengt Wallentin. “With Industrifonden and Eqvitec Technology Fund as owners, we can shift to a higher gear in our international expansion.”
eBuilder is on the cutting edge in this area, since its system integrates various business processes and can easily be adapted to each client. It manages and supplies these services online, and clients pay only for the services they use.
“eBuilder has a unique offering in a growing global market,” says Åsa Knutsson, Investment Manager at Industrifonden. “Its system makes it possible to automate various business processes, so that computers do most of the work. Demand is expected to increase significantly in the years ahead, which bodes well for the company’s further expansion.”
Headquartered in Stockholm, eBuilder currently has 140 employees at offices in Sweden, Sri Lanka and Australia. In recent years it has posted annual growth of 25 percent and has revenues of approximately SEK 80 million. Its clients include Swedish public sector agencies as well as multinationals.
“The processes and services eBuilder supplies save money and improve efficiencies for clients, and we believe that the trend towards cloud computing will continue to be strong,” says Hadar Cars, partner at Eqvitec Partners, the investment advisor of the Eqvitec Technology Fund III. “We look forward to helping eBuilder expand in the international market.”
For more information, please contact: Bengt Wallentin, CEO, eBuilder, Tel. +46-70-720 22 63 Åsa Knutsson, Investment Manager, Industrifonden, Tel. +46-730-96 03 00 Hadar Cars, Partner, Eqvitec Partners, Tel. +46-735-44 58 45
Eqvitec Partners (www.eqvitec.com ) is one of the largest technology oriented private equity firms in Northern Europe. The company was founded in 1997 and employs 15 investment professionals in Helsinki and Stockholm. Eqvitec Partners currently advises six funds with a total capital base of over 500 million euros. The funds invest in technology companies in all phases from early-stage to buyouts. At the moment the funds have investments in 40 companies and have carried out 40 exits.