Providence Strategic Growth backs Signaturit

Alessia Argentieri
28 October 2020

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Providence Strategic Growth (PSG) has acquired a majority stake in Barcelona-based e-signature specialist Signaturit.

Following the deal, Signaturit's founders will retain their shareholdings and CEO Juan Zamora will continue to lead the company's day-to-day operations.

PSG's European team intends to support Signaturit's next phase of growth, which will include product diversification, geographic expansion and the search for strategic M&A opportunities.

PSG is the growth equity affiliate of asset management firm Providence Equity Partners. Established in 2014, PSG focuses on growth equity investments in lower-mid-market software and technology-enabled service companies.

The firm is headquartered in Boston, Massachusetts, with offices in Kansas City, Missouri, and London.

Previous funding
Following three seed rounds of €15,000 in 2014, €600,000 in 2015, and €100,000 in 2016, Signaturit raised €1.4m in funding from Bonsai Partners, Banco Sabadell, Faraday Venture Partners, Nero Ventures and Keyword Venture Capital in June 2017. The startup also received a €1.2m grant from EU agency EASME in January 2018.

More recently, venture capital house 360 Capital led a €7m series-A round for Signaturit in February 2019. Previous backers Bonsai, Banco Sabadell, Faraday, Nero and Bbooster Ventures also took part in the round.

Company
Established in 2013 and based in Barcelona, Signaturit provides a suite of cloud-based tools comprising electronic signatures, registered delivery, electronic identification and qualified electronic time stamps, for complying with legal and security standards.

The startup has more than 10,000 users in 40 countries and a client base that includes Volkswagen, EY, Gartner, Admiral Insurance, Axa, Acciona, Banco Sabadell, DAS Insurance, Cuatrecasas, Decathlon, Volotea and Damm. It employs 100 staff.

People
Providence Strategic Growth – Dany Rammal (managing director); Romain Railhac (director).
Signaturit – Juan Zamora (co-founder, CEO).