Vitruvian's Snow Software buys Embotics

Vitruvian acquired a majority stake in Snow in 2012 via its VIP II fund, which held a first and final close on £1bn.

Subsequently, the company received a $120m investment from Sumeru Equity Partners and Ontario Pension Board in April 2017 to accelerate its global expansion plans, enhance its offering across cloud platforms and drive new product innovation.

Snow intends to improve its ability to deliver technology intelligence with Embotics' hybrid cloud management platform.

The process of integrating Embotics into the Snow platform will begin immediately, and the companies will have a single go-to-market strategy starting in 2020.

Snow is based in Stockholm and develops an optimisation software to help companies improve visibility, optimise usage and spend, and minimise regulatory risk. It employs 700 staff across 21 countries and generates revenues of around $85m.

Previous funding
Following a series-A round of an undisclosed amount in 2006, Embotics raised a $4m series-B investment in 2008 from Covington Associates and an $8.4m series-C round in 2012 from Covington Funds and VentureLink. Subsequently, it received a $12.1m series-D from Arrowroot Capital Management in 2016. 

Company
Established in 2006 and based in Kanata, Ontario, Embotics offers a cloud management platform to automate provisioning, reduce costs and ensure governance across private, public, hybrid and multi-cloud environments. Its client base includes Nordstrom, Nasa, HBO, LG CNS and NTT Data. 

People
Snow Software – Vishal Rao (CEO, president).
Embotics – Jay Litkey (founder, president).

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