Berlin and Chicago-based Market Logic, a provider of enterprise SaaS marketing information systems, has secured 45 million pounds in funding. The investors were Sycamore, Summit Partners and GENUI.
BERLIN and LONDON – May 30, 2017 – Market Logic, a leading provider of enterprise SaaS marketing information systems, today announced a €45 million investment from GENUI, Summit Partners and current investor Sycamore. The investment will help to accelerate Market Logic’s growth and further the company’s vision to transform marketing by providing software that delivers the right information at the right time.
Kay Iversen, founder and CEO of Market Logic, welcomed the new investors. “Rapid adoption of our platforms by leading brands confirms that marketing executives are hungry for better ways to ensure market and consumer knowledge is systematically used in innovation and brand building decisions,” Iversen said. “We believe the new partnership with GENUI and Summit and the investment capital they provide will help accelerate Market Logic’s significant advances in the realm of cognitive computing, to ensure that insights are accessible and engaging for marketers to use.”
Iversen added, “Active exchange with outstanding software industry leaders like GENUI’s Bernd-Michael Rumpf – the former CEO of SAP SI – and entrepreneurs and experienced operators from Summit’s global network will help us set the course for our ambitious growth plans.”
“Market Logic’s entrepreneurial management team was a key factor driving GENUI’s decision to invest,” said Bernd-Michael Rumpf. “Kay and his team share a passion for listening to and anticipating customer needs, and delivering cutting edge solutions that delight their user communities. We were impressed with the enthusiastic support Market Logic has nurtured amongst their blue-chip executive community.”
Summit Partners Managing Director Matthias Allgaier agreed. “At Summit, we focus on partnering with innovative, founder-led companies that we believe have the potential to become global leaders in their sectors. Market Logic offers proprietary AI-powered technology that is quick to implement and seeks to drive impressive results for its customers. We are excited to partner with the company for its next phase of growth.”
Bernd-Michael Rumpf and Max Odefey of GENUI will join Matthias Allgaier from Summit to support Market Logic as members of the company’s board of directors.
Sycamore Managing Director Thomas van Aubel added, “Sycamore has actively supported the development of Market Logic since its seed phase. We are thrilled that the additional firepower on Market Logic’s board will help us reach the next stage in our growth story.”
The transaction is subject to official approval by the European Commission.
About Market Logic
Market Logic develops and commercializes marketing information systems, that help the world’s best brands to transform marketing and innovation processes with the right information at the right time. Market Logic platforms are deployed by global brands in consumer packaged goods, retail, healthcare and financial services including Unilever, Coca-Cola, Newell Brands, Colgate, Heineken and American Express. The company has offices in Berlin, Germany and Chicago, Illinois.
GENUI is a private investment firm established by a group of exceptional entrepreneurs and investment experts. GENUI provides long-term investments in medium-sized companies in German-speaking countries. With GENUI, the companies have a shareholder with networks and unique expertise from entrepreneurs.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently investing more than $8.8 billion into growth equity, fixed income and public equity opportunities. Summit has invested in more than 440 companies in technology, healthcare, life sciences and other growth industries. These companies have completed more than 140 public equity offerings, and more than 170 strategic mergers and sales. Notable software and SaaS companies financed by Summit include Avast, Clearwater Analytics, Darktrace, Gainsight, HelpSystems, Hyperion Solutions, Infor, McAfee, Perforce, Telerik, TSheets, WebEx and Visier. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.
Sycamore is a private investor based in Berlin, Germany, with a focus on software and sustainability, and a long investment horizon.