- Investment aims to fuel Signaturit's continued growth and accelerate European expansion
- Traditionally fragmented market with fast growth potential supported by strong industry tailwinds
ProvidenceStrategic Growth ("PSG"), the growth equity affiliate of premier asset management firm Providence Equity Partners ("Providence"), today announced signing of a majority investment by funds managed by PSG in Signaturit Solutions ("Signaturit" or the "Company"), a leading provider of cloud-based Trust Services that offers eSignature, eDelivery and eID solutions, and is headquartered in Barcelona, Spain. Financial terms were not disclosed.
Signaturit was founded in 2013 and is now one of the leading Trust Service software vendors in Southern Europe. Its technology platform provides a SaaS-based solution that allows customers to send and sign documents legally and seamlessly. The Company has also developed other major trust services to cover adjacent parts of the digital signature process: eDelivery, which certifies the delivery of the entire electronic signature procedure; and eID, which offers secure authentication of the person before signing a document.
The deal, which is subject to regulatory clearance, builds on Signaturit's successful trajectory. Since its inception, the Company has raised more than €10 million in pre-seed and series A funding, both from Spanish and international investors. PSG's European team will support Signaturit's next phase of growth, including product diversification, geographic expansion and strategic M&A opportunities. Signaturit's founders maintain their shareholding with Co-Founder and CEO Juan Zamora continuing to lead day-to-day operations and Signaturit's team of 100 employees.
"The Signaturit team has built an outstanding business in a market that is expected to surge in the next five years and we believe is consequently poised for success," said Dany Rammal, Managing Director at PSG.
"Signaturit's scalable technology platform and understanding of their customers' needs has led them to develop an innovative integrated solution that positions the Company at the forefront of electronic digital security and identity verification," said Romain Railhac, Director at PSG.
Juan Zamora, Co-Founder and CEO, commented: "Signaturit was founded to help bring the signing processes of multinationals and SMEs into the 21st century. We are a team with clear global ambition and are delighted to have entered into this partnership with PSG, which has a strong track record of supporting SaaS companies. Their investment positions us for future growth while enabling us to continue providing exceptional service to our many customers."
Signaturit currently helps more than 2,500 organizations, including renowned international brands such as Manpower, AXA, Admiral Insurance, EY, Decathlon, and Vorwerk to manage their digital security and identity and facilitate the request and realization of electronic signatures quickly, safely and with full legal validity, and has helped its customer base to request and receive 38 million signatures through its platform. Among the many accolades that it has received over the years, Signaturit was selected to participate in the EU's Horizon2020 program, an endorsement of its top-class capabilities in the e-Signature and electronic Trust Services space.
About Signaturit
Signaturit is a Qualified Trust Service Provider that offers innovative cloud-based solutions in the field of Electronic Signatures (eSignatures), Certified Registered Delivery (eDelivery) and Electronic Identification (eID) to digitise any transaction between companies and individuals, securely and with full legal compliance. Founded in 2013, the company serves over 2,500 customers in more than 40 countries and has completed over 38 million signatures on its platform. Signaturit's Trust Services optimise the signature process enabling customers to reduce paper consumption, improve their billing and hiring processes and provide their teams with a tool that helps them to streamline their administrative tasks related to document signing. For more information on Signaturit, please visit https://www.signaturit.com/en.
About Providence Strategic Growth
PSG is an affiliate of Providence Equity Partners ("Providence"). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. PSG is headquartered in Boston, MA, with offices in London and Kansas City. For more information on PSG, please visit https://www.provequity.com/private-equity/psg, and for more information on Providence, please visit https://www.provequity.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201028005123/en/
Contacts:
Media
Providence Strategic Growth
Sard Verbinnen Co.
Rory King
Prov-SVC@sardverb.com
Signaturit
Roman
Lourdes Carmona and Iván Carballido
l.carmona@romanrm.com
i.carballido@romanrm.com
