Announcement comes as London Technology Week highlights home-grown tech
London, 20th June, 2016 – Global software company Condeco today announces that it has raised $30 million (€27m) to consolidate its position as the world’s leading provider of workplace management technology. Led by Highland Europe, the investment, representing a minority interest, is a significant amount raised outside of Silicon Valley. It will be used to accelerate the London-based company’s expansion across the U.S., Europe and Asia.
The announcement coincides with the start of London Technology Week, which showcases the best of London’s tech innovation. Condeco, winner of a Queen’s Award for Enterprise in the innovation category earlier this year, is a prime example of this best-in-breed technology.
By empowering teams within businesses to meet and interact more efficiently, Condeco is continuing to build a global footprint servicing blue-chip clients. Its suite of sophisticated workplace management tools offer game-changing capabilities to meet all the latest workplace demands – from ensuring high pressure global meetings run smoothly, to providing staff with important collaborative spaces – and have already become indispensable to multinational brands such as Barclays, Reuters and Unilever.
As work increasingly moves to the cloud, Condeco is pushing the corporate real estate sector forward. The company’s recent acquisition of U.S. unified communications firm myVRM, which will enable clients to manage their virtual communication resources as well as their bricks-and-mortar offices, enhances Condeco’s offering and signals the company’s ambitions for continued expansion, says Paul Statham, founder and CEO of Condeco Software. “This investment comes at the perfect time for Condeco, as it will fuel our growth as we pursue further strategic acquisitions across North America, Europe and APAC. We will also invest in our solutions for the vitally important SME market.
“Rapidly increasing demand for workplace utilisation tools has enabled us to widen our global capability, meaning that we are now reaching 12 geographies worldwide,” he continues. “We’ve also been able to scale our operations – for instance, through our recent acquisition of myVRM – so that we have the ability to radically transform the way people work. We are very excited to be joining with Highland Europe to start this new chapter in Condeco’s story.”
Laurence Garrett, partner at Highland Europe, adds: “In Condeco, we are teaming up with an established, proven business, whose success is matched by their hunger and vision for innovation and further market development. Paul is that rarest of breeds – a seasoned operator, fired up with entrepreneurial passion, who’s on track to create a new gold standard in office and workplace technology.
“It’s surely fitting that this investment coincides with London Technology Week, which celebrates London as a powerhouse of innovation, because we are certain that Condeco will remain a striking example of the capital’s technology prowess for many years to come,” he says.
The investment bid process was supported by KPMG in New York.
About Highland Europe
Highland Europe is exclusively focused on Growth Stage internet, mobile and software businesses. Launched in 2012 and with over €580m ($640m) in Assets Under Management across two funds, the firm’s origins were as the European operations of Highland Capital Partners, a US VC firm. Highland Europe is based in London and Geneva and its current portfolio includes MatchesFashion.com, GetYourGuide, WeTransfer, Nexthink, and Malwarebytes among many others. To find out more visit www.highlandeurope.com