HgCapital has backed Trace One, the market leading SaaS product for the retail and private label goods sector.
This is another example of the great vertical market SaaS companies that are being built and backed in Europe. The high quality recurring revenues associated with SaaS models are very attractive to private equity backers.
European entrepreneurs now have a greater range of options when considering how to grow their companies. It is not just about a trade sale to a major US strategic. In fact, over the last two years, many of Europe's most successful tech companies, such as Fourth, Skyscanner and CarTrawler, have chosen private equity rather than trade.
Congratulations to Jerome and the team at Trace One and HgCapital.
HgCapital has today announced an investment into Trace One, a leading Software as a Service (“SaaS”) platform for the retail and private label goods sectors, headquartered in Paris, France. The investment was made from HgCapital’s Mercury Fund which focuses on growth buyouts in the technology sector across Europe. The terms of the transaction were not disclosed. Founded in 2001, Trace One offers a suite of Product Lifecycle Management (“PLM”) software applications to the retail sector, and operates a platform allowing retailers to develop and exchange private label product specifications with their suppliers. The platform is critical for helping retailers and suppliers to manage innovation, product safety and quality. Trace One serves a blue-chip customer base of 30 leading retailers, across Europe and North America, with data on 20,000 member manufacturers, supporting > US$300 billion of private label sales.