August 25, 2009
Provider of SaaS business integration and cloud computing solutions expanding quickly
Cloud computing and SaaS both got nods as big players in the future business market when eBuilder announced yesterday that it has raised $5.62 million from Eqvitec Partners and Industrifonden.eBuilder, through a Software as a Service model, outsources all the key aspects of business processes—configuration, operation, administration. With their data based in cloud computing solutions, eBuilder’s clients side-step purchasing their own servers and other equipment and instead access all the information they need through online avenues. eBuilder tries to have its solution up and running in less than eight weeks for all new clients.
Serving half a million users in various public sector agencies in over 50 countries, the Stockholm, Sweden-based company currently has 140 employees working in Sweden, Sri Lanka and Australia.
Founded in 1997, Eqvitec Partners is a Northern European private equity firm that currently has investments in 40 technology companies. Industrifonden provides both development capital and expansion capital for companies in technology, cleantech, and life sciences industries.
This round of fundraising is most certainly considered expansion capital for eBuilder.
The company’s executives hope that this latest injection of capital will allow the company to expand its international penetration. Both of the investors see a big future for companies offering cloud computing solutions, with Investment Manager Åsa Knutsson at Industrifonden adding, “[eBuilder’s] system makes it possible to automate various business processes, so that computers do most of the work. Demand is expected to increase significantly in the years ahead, which bodes well for the company’s further expansion.”
eBuilder has seen 25% annual growth in recent years, bringing in over $11 million in revenue each year. Eqvitec Partners and Industrifonden expect this latest VC funding to boost those numbers for the internationally blooming company.
