Software Growth Partners has made a majority investment in Fairfax, Virginia-based Venio Systems, an eDiscovery software company. No financial terms were disclosed.
WASHINGTON (PRWEB) AUGUST 19, 2020
Venio Systems, one of the fastest growing eDiscovery software companies, is proud to announce a majority investment from Software Growth Partners (SGP) to accelerate the growth of its industry-leading VenioOne platform. VenioOne is an infinitely scalable, end-to-end eDiscovery platform that offers the flexibility of on-premises or cloud deployments and fulfills the critical needs of its customers for managing the increasing complexities of eDiscovery processes, as well as growing volumes of data, in an efficient manner.
As a rapidly growing software company, Venio was seeking a strategic financial partner that not only makes capital investments, but also has a strong track-record of building successful software businesses, to further enhance Venio’s position in the eDiscovery market. SGP’s investment will assist Venio in realizing its goal of providing the most sophisticated and comprehensive eDiscovery software platform in the industry.
“We’re excited to partner with SGP and to have their support to achieve our vision of becoming the industry’s premier eDiscovery software. We will continue to expand the VenioOne product roadmap while further enhancing the capabilities of our self-service offering, VenioOne OnDemand,” said Arestotle Thapa, Co-founder and Chief Technology Officer of Venio.
SGP is a software-focused investment firm that strives to partner with founder-owned technology companies and assists them in enhancing their existing growth trajectories by implementing best practices across a number of areas such as product strategy, customer experience, sales, and marketing. Members of SGP’s team will be actively assisting the existing management team of Venio to fully realize the company’s vision, to pursue new expansion opportunities for the VenioOne platform, and to better address the ever-evolving needs of its customers across different industry segments.
“SGP’s unique investment strategy focuses on identifying software companies that operate in growing markets and provide mission critical solutions to its customers. Venio excels in all our investment criteria and addresses a growing need through its industry-leading eDiscovery platform. As data volumes continue to explode, we anticipate an increasing need for eDiscovery software in pursuit of better control and visibility, and optimization of litigation spend. We are thrilled to partner with the Venio team and to complement their strategy through our operational playbook to create win-win outcomes for Venio’s customers and its employees, as well as our limited partners.” said Sumit Garg, Founder and Managing Partner of SGP.
Industry analysts have also enthusiastically supported this investment and confirmed the value this will bring to the eDiscovery industry. Ryan O’Leary, Esq., Senior Research Analyst at IDC, added, “Despite the COVID-19 pandemic, the eDiscovery software market has proved to be crucial to business resiliency and has maintained investment. The investment in Venio comes at an opportune time as corporations look to improve their ECA and processing capabilities to drive savings further down the EDRM.”
With the investment from SGP, Venio will continue to focus on better serving its existing customers and partners with the goal of further exceeding the high level of software products and service that the company has provided for the past 11 years. Chris Jurkiewicz, Venio’s Co-founder and VP of Client Services, emphasized, “Having SGP as our partner will allow us to broaden not only our technology offerings but also our sales, marketing, and customer support efforts to further grow Venio’s market presence and build an even stronger eDiscovery brand for Venio.”
Kenyon Group, LLC served as the exclusive financial advisor to Venio Systems and arranged this transaction.
About Venio Systems
Venio Systems is a team of innovators and developers with over 40 years of experience in providing eDiscovery solutions with unparalleled agility and ease-of-use while being scalable. Venio Systems was created to address the industry’s lack of a complete eDiscovery solution that powers every phase of eDiscovery. VenioOne, a unified eDiscovery platform, is designed to provide law firms, corporations, and government entities with the ability to manage all phases of discovery—processing, ECA, culling, document review, and production—from a single tool. Venio Systems remains at the forefront of innovation to provide solutions any litigator and eDiscovery professional can use. For more information and a demo, visit https://veniosystems.com/.
About Software Growth Partners
Software Growth Partners (SGP) is a Silicon Valley based private equity firm that focuses on lower-middle market software companies. SGP pursues a partnership-driven and hands-on investment approach and strives to be an ideal financial and strategic partner for founder-owned companies and entrepreneurs that are looking for some liquidity while still retaining significant upside resulting from growth in their businesses. As a value-added investor, SGP is actively involved with its portfolio companies at all stages and provides significant operational and strategic support to its management teams, helping them address critical issues as the companies scale towards realizing their full potential. For more information, please visit https://softwaregrowthpartners.com/