HELSINKI, March 29, 2018 —
With Additional Funding, Midaxo Reinforces Its Position as the Leading Provider of M&A Software
Midaxo, the developer of the award-winning cloud M&A platform, announces a €12.9 million funding round comprising of €10.3m for the company and €2.6m for the existing shareholders – led by Idinvest Partners, a major French growth investor. The existing institutional investors Tesi (Industry Investment) and EOC Capital also participated. This B round brings Midaxo’s total funding to €18.6m million. In 2017, Midaxo more than doubled its revenue and expanded its customer base to hundreds of corporations, consultants, and private equity firms, including over 40 companies on the Fortune 1000 list, such as HP Enterprise, Philips, Daimler, and Verizon.
With Midaxo, companies run successful M&A and corporate development projects – minimizing deal risks and maximizing value creation. Commenting on Midaxo’s rapid expansion, CEO Ari Salonen says: “Virtually all larger corporations and 60% of mid-market companies actively use M&A to grow and accelerate their transformation. To succeed in M&A, thought-leaders use Midaxo’s platform to drive systematic, transparent, and constantly improving deal execution from opportunity identification through integration. For example, their due diligence efforts take 50% less time and 50% less effort, enabling faster reaction and efficient use of resources.” Midaxo also works closely with leading M&A consultancies and private equity firms. “Our partner program is particularly relevant to post-merger integration where our partners help in-house teams drive deal value,” says Ari Salonen.
After establishing a solid base in the US, Midaxo now focuses on expanding its global reach. Midaxo has 70 employees across four offices in Boston, Helsinki, Amsterdam, and Riga. The company’s headcount doubled in 2017 and is set to increase further with ongoing recruitment for a number of roles in sales, marketing, and software development.
With the new investment, Midaxo will also deploy artificial intelligence technology to assist and enhance its customers’ M&A activity. “We are already the most widely adopted and fastest growing M&A software. The additional funding allows us to introduce significant innovations to benefit the smartest deal-makers of the world,” says Kalle Kilpi, Head of Product at Midaxo.
“The Nordic region is experiencing an M&A boom at the moment – the deal volumes are at the highest level since 2007. With the activity set to increase further, I am excited about the leading role Midaxo plays in supporting M&A professionals and expanding its Nordic customer base that already includes M&A success stories such as Nokia and Danfoss,” says Anders Brenner, Founding Partner of EOC Capital.
Midaxo Oy’s cloud software helps companies succeed in mergers & acquisitions by driving an efficient end-to-end process from target identification and due diligence to integration. http://www.midaxo.com and @Midaxo
For further information, please contact:
Anders Brenner, Founding Partner & Director of Investments, EOC Capital
EOC Capital is a Swedish investment company investing in growing Nordic technology businesses. http://www.eoccapital.se
Alban Wyniecki, Investment Director, Idinvest Partners
Idinvest Partners is a leader in financing small and medium-sized companies in Europe.
Ari Salonen, CEO, Midaxo Oy
Tom Allen, M&A Lead & Press/Media, Midaxo Oy