Summit injects $55m into Siteimprove

Having secured a minority holding in Siteimprove, Summit will support the company as it invests in marketing and sales and pursues international expansion.

Since being founded in 2003, the business has expanded from its Copenhagen base to the UK, the US, Sweden and Germany. During 2015 alone, operations were started in six new countries, according to the company.

The SaaS developer, currently servicing governmental, pharmaceutical and financial services clients, expects rising demand for its web governance suite among website managers in the coming months.

According to unquote" data, the injection is the latest to be announced in a busy December for Summit. Over the past few weeks, the firm has been active in deploying capital across the globe, backing a $25m series-B for Chicago-headquartered Reverb.com, a $10m round for Singaporean company PatSnap and a €31m investment in Berlin-based Signavio, another SaaS specialist.

Company
Founded in 2003, Siteimprove develops a cloud-based SaaS suite used for governance purposes by more than 3,500 web managers. The company services clients in the education, financial, legal, healthcare, manufacturing and non-profit sectors via its Copenhagen headquarters and 10 additional offices worldwide. Its current headcount sits at 260 employees.

People
Summit Partners' work on the deal was coordinated by vice president Antony Clavel and managing director Han Sikkens, who will both take seats on Siteimprove's board of directors. Han Sikkens founded the company and remains its current CEO.

 

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• Expansion
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