TCV: Lead investor in 130-million-euro transaction. Series C round in Spryker

Cate­gory: Venture Capi­tal
Photo: The Weil team was led by Frank­furt-based Corpo­rate Part­ner Dr. Chris­tian Tapp­ei­ner in this transaction.
22. Decem­ber 2020

New York/ Berlin/ Frank­furt a. M. — Finan­cial inves­tor TCV invests in Spry­ker Systems GmbH (“Spry­ker”) advi­sed. The Series C finan­cing round was led by TCV as lead inves­tor. Exis­ting inves­tors One Peak Part­ners and Project A also parti­ci­pa­ted in the finan­cing round tota­ling over USD 130 million. With this, Spry­ker exceeds a valua­tion of USD 500 million. The Frank­furt and Munich offices of the inter­na­tio­nal law firm Weil, Gotshal & Manges LLP advi­sed the finan­cial inves­tor TCV on its invest­ment in Spryker.

About Spry­ker
Spry­ker deve­lops e‑commerce solu­ti­ons for its custo­mers at the highest level. The new capi­tal will be used to conti­nue global growth. The funding will be used to further deve­lop Spryker’s alre­ady popu­lar B2B and enter­prise market­place products, provide a leading AppS­tore for tech­no­logy part­ners and acce­le­rate global growth. In parti­cu­lar, the US, which alre­ady accounts for over 10% of Spry­ker Software’s reve­nue, is the focus of expan­sion. Spry­ker also plans to hire many new employees globally to expand its market leader­ship posi­tion and deve­lop new products for future models and inter­faces in IoT commerce, click & coll­ect and subscrip­tion commerce. More and more custo­mers are trans­forming their orga­niza­ti­ons into so-called “composable enter­pri­ses” led by multi­di­sci­pli­nary “fusion teams” from IT and busi­ness. Spry­ker is at the spear­head of this change it has helped shape and predic­ted since its inception.

Advi­sor to TVC: Weil, Gotshal & Manges LLP

The Weil team for this tran­sac­tion was led by Fran­k­­furt-based Corpo­rate Part­ner Dr. Chris­tian Tapp­ei­ner and included Coun­sel Konrad v. Buch­waldt (Corpo­rate, Frank­furt) and Benja­min Rapp (Tax, Munich) as well as Asso­cia­tes Julian Schwa­ne­beck, Sara Afschar-Hamdi, Mario Kuhn (all Corpo­rate, Frank­furt), Mareike Pfeif­fer, Lili­anna Ranody (both Labor, Frank­furt), Markus Cejka (Finance, Frank­furt), Dr. Khatera Zuschlag (Commercial/Regulatory, Frank­furt), Alisa Preiß­ler (Tax, Frank­furt), and Para­le­gal Nata­scha Späth (Corpo­rate, Frankfurt).

Advi­sors to Spry­ker: honert + part­ner (Hamburg)

Part­ner Dr. Jan-Chris­­tian Heins and Asso­ciate Chris­tina Frig­ger advised.

Consul­tant Project A: SMP

Benja­min Ullrich (Co-Lead, Tran­sac­tions), Partner
Fabian Euhus (Co-Lead, Funds), Partner
Adrian Haase (Tran­sac­tions), Senior Associate

About TCV
Foun­ded in 1995, TCV is one of Sili­con Valley’s leading inter­na­tio­nal growth capi­tal firms, support­ing private and public growth-stage compa­nies. Over the past 25 years, TCV has inves­ted over $14 billion in more than 350 leading high-tech compa­nies and assis­ted CEOs in more than 125 IPOs and stra­te­gic acqui­si­ti­ons. TCV has inves­ted in compa­nies such as Airbnb, AxiomSL, Dollar Shave Club, Exact­Tar­get, Expe­dia, Face­book, Linke­dIn, Netflix, Nubank, Payo­neer, Splunk, Spotify, Strava, Toast, Xero, and Zillow. In Europe, TCV has inves­ted over $2 billion in compa­nies such as Believe Digi­tal,, Flix­Mo­bi­lity, Klarna, Mollie, Perfecto, Redis Labs, RELEX Solu­ti­ons, Revo­lut, RMS, Spor­t­ra­dar, The Pracuj Group, and World­Re­mit. TCV is head­quar­te­red in Menlo Park, Cali­for­nia, with offices in New York and London.

About Weil, Gotshal & Manges LLP 
Weil, Gotshal & Manges is an inter­na­tio­nal law firm with more than 1,100 lawy­ers, inclu­ding appro­xi­m­ately 300 part­ners. Weil is head­quar­te­red in New York and has offices in Boston, Dallas, Frank­furt, Hong Kong, Hous­ton, London, Miami, Munich, Paris, Beijing, Prince­ton, Shang­hai, Sili­con Valley, Warsaw and Washing­ton, D.C.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Cologne.

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