Wednesday 19th May, 2021
Redwood Software has announced a €315 million strategic investment from growth equity firm Turn/River Capital. The investment will help enable Redwood to accelerate new feature development for its industry-leading IT and business process automation platform.
Statista estimates the global automation industry will generate $214 billion in 2021, with process automation exceeding $83 billion. “The modern enterprise needs sophisticated automation solutions to enable it to scale rapidly and still remain agile in the face of disruptions,” said Dan Twing of President and Chief Operating Officer of analyst firm Enterprise Management Associates (EMA), “It’s imperative that organisations adopt technology that can support the breadth of their business operations. Redwood provides the only cloud-based solution of its kind purpose-built for the enterprise, setting it apart as a leader in the space.”
Founded in 1993, Netherlands-based Redwood Software serves thousands of global enterprise customers, including Coca-Cola, GM, Halliburton, Grainger, Wells Fargo, UBS, Mercedes-Benz, Airbus, Siemens, and Heineken.
Tijl Vuyk, Redwood Software CEO and Founder, said of the investment, “We are thrilled to partner with Turn/River. Their team’s go-to-market expertise combined with Redwood’s best-in-class technology will create a highly complementary partnership, and further our goal of bringing modern automation to every enterprise.”
Turn/River, a technology focused growth equity firm, partners with companies like Redwood by pairing flexible capital with an operational team that specialises in software go-to-market strategies. “Redwood is a technology leader that enables the world’s largest companies to automate manual tasks and streamline complex business processes,” said Dominic Ang, Founder and Managing Partner of Turn/River Capital. “We are beyond excited to provide growth funding and go-to-market support for the expansion of Redwood’s mission critical software solutions.”