SoftCo acquired by Keensight Capital

Co-founders to take a step back from operations

Trade

Jim Coffey and Susan Spence, SoftCo

SoftCo has been acquired by Keensight Capital, a private equity managers dedicated to pan-European Growth Buyout. Financial terms of the deal were not released. Founders, Jim Coffey and Susan Spence, will support the company in its next phase of growth.

Established in 1990 and headquartered in Dublin, SoftCo is a fast-growing provider of procure-to-pay (“P2P”) and compliance software. SoftCo’s solutions streamline financial processes, deliver greater control and visibility over spend and reduce the need for manual intervention. SoftCo’s unique machine learning technology offers unrivalled automation rates, and the company receives the highest customer satisfaction rankings in the industry.

Susan Spence, co-founder of SoftCo, said: “We are proud of how SoftCo has grown and as we step back, the company has never been as strong. SoftCo has the best technology in the market and a growing global customer base. We would like to thank all our employees, customers and partners who joined us on the journey over the last 34 years.”

Jim Coffey, co-founder of SoftCo, added: “While we had approaches from many potential acquirers, Keensight Capital showed its ability to support the existing management team in achieving the next phase of growth. This was a major factor in our decision to select them.”

Yuri Mikhalev, partner at Keensight Capital, said: “Over the years, we got to know the Company and its team well, and have been continuously impressed by SoftCo’s unique know-how and leadership in the sector. This has allowed SoftCo to achieve strong profitable growth and remarkable expansion in North America. Leveraging our deep sector expertise from successful investments in Onventis and e-Attestation, we understand SoftCo’s market and are well placed to contribute to the company’s strategic vision and growth.”

Operating from the US, Finland, the UK and Ireland, SoftCo has over a million users worldwide with customers including PwC, Volkswagen, Primark, Logitech and the Finnish Government. SoftCo is ISO27001 certified, SOC 1 & 2 and Katakri audited, a Microsoft Co-Sell Certified Partner, an AWS advanced technology partner, and is integrated with over 200 ERP systems.

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