$100 million funding round for Jedox
Freiburg — Boston — Singapore — Jedox, an award-winning provider of enterprise performance management solutions for business planning and analysis, today announced an investment of more than $100 million from global venture capital and private equity firm Insight Partners, along with existing investors Iris Capital, eCAPITAL and Wecken & Cie. This majority investment by Insight Partners comes at a time when Jedox is experiencing rapid global adoption of its market-leading cloud solution for finance executives.
The new round of funding will help Jedox accelerate its customer growth and global expansion while enhancing its robust platform for cross-departmental integrated business planning, reporting and analytics. In particular, the funds will be used to grow Jedox’s product innovation team, increase investment in customer support, and provide even greater support to users in all major geographic regions. In addition, 2021 marks the launch of industry-specific solutions. Together with Jedox’s dynamic partner network and strategic partnerships, the scope of the solutions will expand beyond finance and controlling departments to become a cross-functional “Extended Planning & Analytics” (xP&A) platform.
“In an increasingly fast-paced world, disruption and uncertainty present both challenges and opportunities for businesses. Jedox modern cloud-based solutions for scenario planning, forecasting and managing future value creation enable our customers to act even faster and outperform the competition,” says Florian Winterstein, CEO of Jedox. “Insight Partners’ investment will further strengthen our unique EPM platform and momentum in the market and allow us to benefit from the expertise of a leading global investment partner.”
Jedox offers the most advanced cloud-based budgeting, planning and analysis tools combined with a familiar Microsoft Excel-based interface. Jedox’s enterprise-grade “Financial Planning & Analytics” (FP&A) tools are specifically designed to accelerate time-to-value for CFOs and finance executives. From moving existing financial processes to the cloud to leveraging AI and “advanced analytics” for more accurate and agile planning, Jedox helps leading companies streamline planning processes at all stages of growth. Jedox has over 2,500 customers worldwide, including Amazon, McDonald’s Switzerland and ABB.
“Jedox offers a differentiated approach to financial planning through its flexibility, familiar Excel-based interface and focus on the customer,” said Jeff Lieberman, managing director at Insight Partners. “We are excited to work with Florian and the entire Jedox team to bring outstanding cloud planning tools to market leaders in all industries around the world. Our onsite team, the largest ScaleUp engine in the industry, will work with Jedox to provide strategic scaling expertise.” Rachel Geller, Managing Director at Insight Partners, and Henry Frankievich, Principal, will join the Board of Directors.
Jedox’s leading EPM platform optimizes value creation and helps companies move faster than the competition. Jedox public and private cloud offerings enable finance professionals to effectively collaborate across departments to simplify business planning through a powerful Microsoft Excel and Power BI compatible interface, while benefiting from artificial intelligence and advanced analytics. The transaction is expected to close in the first half of 2021.
Jedox simplifies planning, analysis and reporting with a unified and cloud-based software suite. Jedox supports decision makers and business users in all departments and helps them work smarter, optimize collaboration and make informed decisions. Over 2,500 companies in 140 countries use Jedox for planning on the web, in the cloud, and on any device. Jedox is an award-winning provider of FP&A and enterprise performance management solutions with offices on four continents and over 250 certified business partners worldwide. www.jedox.com
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software scale-up companies that are driving transformative change in their industries. Since its founding year in 1995, Insight Partners has invested in more than 400 companies worldwide and raised more than $30 billion in capital commitments through a series of funds. Insight’s mission is to find, fund and successfully partner with visionary leaders by providing them with practical, real-world software expertise to drive long-term success. Through its people and portfolio, Insight fosters a culture based on the belief that ScaleUp companies and growth create opportunities for all. For more information about Insight and all of its investments, visit insightpartners.com .