Apax Partners has led a $65m series-C funding round in pricing software provider PriceFX.
The round was led by funds advised by Apax Digital, the growth equity team of Apax Partners, with participation from existing investor Digital+ Partners.
Apax Digital Fund closed on $1bn in December 2017. It was 23% deployed as of December 2019, and makes minority and buyout investments of $30-150m, with a sweet spot of $50-75m.
Digital+ is currently investing from its Digital Growth Fund I, which closed on €350m in July 2018.
PriceFX will use the new funding to expand its global market position, accelerate product innovation, extend its partner ecosystem, and evaluate strategic acquisitions.
Concurrent with this investment, Beith and O'Keefe will join PriceFX's supervisory board.
In January 2017, Credo Ventures and Talis Capital led a €4m series-A for PriceFX. In January 2018, both existing investors and new investor Reflex Capital backed a $4.1m round.
In December 2018, Bain and Digital+ led PriceFX's initial €25m series-B round, with additional backing from Talis and Credo.
In November 2019, Digital+ led a €23m series-B extension for PriceFX, bringing the series-B total to €48m. Also participating in the round was Talis and Bain & Company.
Founded in 2011, the company is based in Pfaffenhofen. PriceFX provides a suite of cloud-based pricing software tools – from price optimisation and management to configure-price-quote – for B2B and B2C enterprises of all sizes.
Apax Partners – Mark Beith (partner); Daniel O'Keefe (managing partner).
PriceFX – Marcin Cichon (CEO).
Strategy will target later-stage life sciences businesses, as well as undervalued listed companies
Fund has a special focus on the e-commerce, software, cybersecurity, fintech and blockchain sectors
GP is looking to invest in 35 tech startups in Europe and the US that are focused on the climate
Partners Hubert Deitmers and Martijn Hamann will now be the sole owners of the firm