Growth Equity Firm Summit Partners Invests $55 Million in Danish SaaS Company Siteimprove
Copenhagen, Denmark – December 22, 2015 – Siteimprove A/S, a leading provider of web governance software, today announced that it has received a $55 million minority investment from global growth equity firm Summit Partners. The funding will support Siteimprove’s continued expansion of its global operations, sales and marketing as well as the development of its category-leading SaaS solutions for web governance.
Siteimprove’s SaaS platform enables marketers and web professionals to manage and optimize their web presence through automated quality assurance, accessibility compliance and analytics. Over 3,500 customers rely on Siteimprove to enhance their web and mobile sites and ensure adherence with external regulations and internal content policies. Siteimprove’s team includes 260 employees across eleven worldwide offices, and global demand has seen the company establish new operations in six countries during 2015. After twelve years of strong organic growth, profitability and global expansion, the current owners sought an experienced global partner able to support Siteimprove as it continues to scale internationally.
“We are pleased to partner with Summit, a firm that has invested in many innovative SaaS businesses. Summit has a global outlook, but also recognizes the importance of the Siteimprove culture and values and can help us grow our company in that spirit,” said Morten Ebbesen, Founder and CEO of Siteimprove. “This investment will allow us to accelerate our growth and capitalize on the opportunities we see in the broader web governance market. I look forward to working together.”
“At Summit, we seek to collaborate with great management teams of innovative, industry-leading companies,” said Antony Clavel, a Vice President at Summit Partners who will join the company’s Board of Directors. “Siteimprove – which today serves top-tier customers across a variety of industries including financial services, government, technology, pharmaceuticals, education and others – is well-positioned to grow its global footprint and further establish its leadership in the web governance market.”
“The demand for effective web governance is accelerating as enterprises seek to deliver consistency and compliance across their digital experiences,” added Han Sikkens, a Managing Director with Summit Partners who will also join the Siteimprove Board of Directors. “We are thrilled to work with Morten and the Siteimprove team to help realize their vision of building one of the top marketing software companies in the world.”
Copenhagen-based M&A advisory services company Nordic M&A served as exclusive corporate advisors for Siteimprove.
Founded in Copenhagen in 2003, Siteimprove is the global leader in SaaS-based web governance solutions. Siteimprove’s broad suite of cloud software products includes quality assurance, accessibility compliance, analytics, SEO, performance monitoring and policy management. More than 3,500 customers rely on software from Siteimprove to identify, prioritize and repair issues that could have a negative impact on brand reputation and to ensure web accessibility and compliance with web content standards. Headquartered in Copenhagen and Minneapolis, Siteimprove has 260 employees across eleven global offices. For more information, please visit siteimprove.com.
About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that is currently investing more than $6.5 billion into equity and fixed income opportunities. Summit has invested in more than 400 companies in technology, healthcare and other growth sectors. These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales. Notable technology companies financed by Summit Partners include Avast, Flow Traders, Gainsight, Hyperion, Infor, McAfee, RightNow, Uber, Unica, WebEx and Wildfire. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.
Meg R. Devine
+1 617 824 1047