Syncron Announces (USD)67 Million Growth Investment from Summit Partners to Fuel Manufacturers\-\- Journey to Servitization

Investment supports Syncron\-\-s vision to empower manufacturers to shift from reactive, break-fix after-sales service to a new paradigm focused on maximized product uptime

Syncron(TM), a provider of cloud-based after-sales service solutions focused on empowering the world\-\-s leading manufacturers to maximize product uptime and deliver exceptional customer experiences, today announced a (USD)67 million minority investment from global growth equity firm Summit Partners. The partnership with Summit Partners will support Syncron\-\-s continued development of its category-leading enterprise SaaS solutions and further expansion of its global operations.

Servitization – where organizations transition from selling one-off products to selling the output or value that products deliver – is leading manufacturers to evolve their after-sales service operations from reactive, break-fix models focused on repair execution, to a new paradigm focused on dynamic repair prevention and maximizing product uptime.

Syncron offers a fully integrated SaaS platform to optimize the performance of the after-sales service supply chain and enable global manufacturers to evolve to subscription-based uptime service models, which is critical on the journey to servitization. The Syncron Service Cloud applies machine learning to multi-echelon logistics and IoT data designed to deliver predictive insights and drive enhanced customer experiences, greater efficiency and brand loyalty. Headquartered in Stockholm, Sweden, Syncron powers the after-sales service organizations of many of the world\-\-s leading manufacturers, including Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota. Syncron has more than 330 employees across 10 global offices and is a recipient of the Great Place to Work(R) award.

\”We are delighted to partner with Summit Partners to support Syncron\-\-s next chapter of expansion and our path to IPO readiness,\” said Anders Grudén, CEO of Syncron. \”Summit\-\-s deep experience collaborating with high-growth, enterprise SaaS companies will add valuable support to our vision of leading the transition from reactive, break-fix after-sales service to intelligently maximizing product uptime and customer loyalty.\”

\”We believe Syncron is uniquely positioned to support global OEMs on their journey towards servitization,\” said Antony Clavel, a Principal at Summit Partners who will join the Syncron Board of Directors. \”Across automotive, industrial machinery, high-tech, aerospace and many other industries, sophisticated manufacturers are working with Syncron to drive after-sales service excellence.\”

\”Syncron is an impressive technology company serving some of the world\-\-s most respected manufacturing brands,\” added Han Sikkens, a Managing Director with Summit Partners who will also join the company\-\-s Board of Directors. \”The Syncron team has delivered strong, profitable growth on a global scale and we look forward to supporting the company\-\-s continued market leadership.\”

Summit Partners manages over (USD)14 billion in capital and has invested over (USD)2 billion in European-headquartered growth companies. Syncron represents Summit Partners\-\- first investment in Sweden.

Posted by Publisher on 16. October 2018. Filed under Computer & Software, SaaS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry