Vitruvian Partners describes itself as an independent private equity firm that specialises in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe.
The ITAM Review understands that the founders and key management will continue in their existing roles and retain a substantial equity investment in the business, in partnership with Vitruvian Partners.
Snow Software has worked to try and create a USP (unique selling point) based around software optimisation solutions that increase their customers’ levels of compliance. The firm says that its products allow for what it calls “highly automated reconciliation” of license entitlements to software installations, software usage monitoring, installations/removals, license upgrades, as well as advanced analytics.
“Vitruvian Partners has a strong track record of helping European technology companies reach their fullest potential and we are thrilled to have them on board,” said CEO and co-founder of Snow, Axel Kling. “ Within a few years, we have gone from being a Nordic provider of inventory solutions to a leading global SAM company and with Vitruvian on the team we will have the necessary skillset and experience to develop our solutions and business even faster going forward.”
Snow is not afraid of making big claims; the firm asserts that its systems can help customers save up to 30% of their annual software expenditure.
The firm explains that its clients use Snow as a decision making tool in order to direct investment in new software towards those applications where ROI will be maximised. Depending on client preferences, Snow’s product suite can be delivered both as a regular software license and as a fully hosted software-as-a-service (“SaaS”) solution.
“As IT infrastructures are becoming increasingly complex, Snow has made advanced SAM functionalities accessible both for mid sized and large corporations without the need for excessive integration work and specialised IT personnel,” said Mike Risman, managing partner at Vitruvian Partners. “The team at Snow has been very successful in leveraging this strategy to build a leading position in the global SAM market, while at the same time achieving impressive financial results. We are delighted to be partnering with the founding team at this stage of the company’s development and look forward to helping Snow make the most of its future opportunities.”