Insight Partners leads $100m round for Jedox

Harriet Matthews
13 January 2021

Tweet
Facebook
LinkedIn
Google plus
Send to

Insight Partners has led a funding round of more than $100m for business planning, analysis and reporting software platform Jedox.

The deal is expected to close in the first half of 2021, according to a statement.

Existing investors Iris Capital, Wecken & Cie and eCapital also participated in the round.

Following the round, Rachel Geller, managing director at Insight Partners, and Henry Frankievich, principal at Insight, will join Jedox's board.

Jedox intends to use the fresh capital to grow its customer base and global footprint, as well as invest in the company's product innovation team.

According to a statement, some proceeds of the deal will also go to Jedox's existing shareholders, including eCapital. eCapital first invested in Jedox via eCapital II, which held a final close in December 2005 on €50m. The GP is now investing in the company from eCapital IV, which closed in December 2017 on €100m.

Insight Partners is currently investing via Insight Venture Partners XI, a vehicle that makes both growth capital and buyout investments in software companies. The fund held a final close in April 2020 on $9.5bn and generally invests $10-350m per company.

Previous funding
eCapital led a €3.5m series-A round for Jedox in January 2008. In July 2008, eCapital made a €2m investment in the business, and also backed a €5.5m series-B round in January 2009.

Swiss family office Wecken & Cie became a new investor in Jedox in May 2016, backing a funding round alongside eCapital.

Iris Capital led a €20m funding round for Jedox in April 2018, with participation from eCapital and Wicken & Cie.

Company
Founded in 2002 and based in Berlin, Jedox is a cloud-based software platform for businesses. It aims to assist clients with planning, analysis and reporting. According to a statement, Jedox has more than 2,500 customers, including Amazon and McDonalds. Jedox has 242 employees, according to LinkedIn. It employed 160 people at the time of its last funding round in 2018.

People
Jedox – Florian Winterstein (CEO).
Insight Partners – Jeff Lieberman, Rachel Geller (managing directors); Henry Frankievich (principal).
eCapital – Paul-Josef Patt (managing partner).
Iris Capital – Curt Gunsenheimer (senior partner).

Advisers
Company – Milbank (legal).
Equity (Insight Partners) – Willkie Farr & Gallagher (legal).