Meet the German startup using its $250 million raise to boost presence in “forward-thinking” Aussie market
German AI Software-as-a-Service startup Signavio is bolstering its presence in Australia, having secured a whopping $254 million raise.
German Software-as-a-Service startup Signavio is bolstering its presence in Australia, having secured a whopping $254 million raise.
The startup is looking to further support its “forward-thinking” Aussie clients, as it makes a push into the APAC region.
Founded in 2009 and headquartered in Berlin, Signavio provides SaaS tools to help businesses improve their digital processes, and make the most of their operational data.
The $US177 million ($254 million) funding round was led by private equity firm Apax Digital, and also included investment management group DTCP.
The startup currently has more than one million users in 1,300 businesses worldwide. Over the past 12 months, it’s seen more the 70% revenue growth.
It also has offices in eight countries across the world, including in Australia.
In a statement, Signavio co-founder and chief Gero Decker said Australia is currently the startup’s fourth-largest market in terms of annual revenue.
This funding is partly pegged for local investment in product and R&D, and to double the team in Australia “across different cities”, Decker said in the statement.
Signavio’s Aussie clients are “amongst the most forward-thinking ones we have globally”, he added.
According to Decker, there are three main drivers of client conversations Down Under: technology and automation; robotics and AI; and improving customer experience.
“Executives are looking to see how their digital transformation initiatives stack up against their customer-facing offerings,” Decker said.
“And beyond that, how they can use process mining as a way to have their data tell a story in order to be able to visualise exactly what’s going on in their business.”
The funding is also being used to fuel further global expansion, with an initial focus on Japan and India.
“The success we have had in Australia, and the use cases we can bring, will be used to help shape our strong push into the region,” Decker said.
