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a new eye on investments
IN THIS EDITION
1Newion Investments Management Intro-
duction and Investment Focus
2Newion II invests in
iWelcome Series A round
Newion II acquires stake in
Reasult Holding
3, 4 & 5EMEA enterprise IT budget and cloud
computing survey results 2012 and 2013
compared
6 & 7Newion News Flash
8Contact Newion
Newion invests in fast growing B2B/ enter-
prise software vendors.
Our current fund, Newion Investments II, is
focusing on investing in early stage or
expansion stage business technology
companies concentrating on innovative
business-to-business software. Invest-
ment rounds for the afore mentioned
target group range from EUR 500.000 to
EUR 5.000.000 in some cases in co-operati-
on with partnering investors. Geographical
we are primarily focusing on the Benelux
and co-investments in Northern Europe.
We want to contribute to building strong
companies with sustainable growth. “Con-
trolled growth” is an important aspect of
our investment philosophy; we invest on
a step-by-step approach over several dif-
ferent Financing Rounds. We believe in de-
ploying the right amount of funding at the
corresponding stages of the development
of companies; finding, proving or scaling
their proposition. We generally take mino-
rity stakes. Our investment horizon is five
to seven years.
Newion Investments Management Introduction and Investment Focus
Businesspark Friesland West 27B
8466 SL Nijehaske
The Netherlands
Luchthavenweg 81, 138
5657 EA Eindhoven
The Netherlands
VISITING ADDRESS:
News for Investors
September 2013
Questions? Call us:+31 513 640 633
Our team
Patrick Polak
Managing Partner
Jaap van Barneveld
Managing Partner
Frank Claassen
Investment Director Partner
Erik Aeyelts Averink
Venture Partner
Geert Zanting
Controller
On 18 December 2012 iWelcome, the Euro-
pean Identity as a Service provider (IDaaS)
and Newion Investments and Filsa Capital
closed a Series A investment round. The
funding will be used to boost development
capability, accelerate growth in the Nether-
lands and fuel European expansion.
iWelcome provides a cloud based Identity
and Access management (IAM) service that
allows organisations to securely and ef-
ficiently manage employee, partner and
customer credentials and access rights
across internal-, external and cloud applica-
tions. The iWelcome platform is architected
as a generic cloud service, yet accommo-
dates the extensive security and integra-
tion requirements of enterprise customers.
Therefore the iWelcome platform is architec-
ted bearing the complexity and the specific
requirements of these customers in mind. In
order to comply with security- and privacy
regulations, iWelcome is ISO 27001 certified
and hosted in the Netherlands,” said Danny
de Vreeze, CEO of iWelcome.
“Whereas our vision is already supported by
prospects, customers and analyst, with this
investment iWelcome has secured sufficient
funding to enhance its ability to execute.”
Patrick Polak, Managing Partner at Newion
Investments: ”On one side we see the cloud
becoming a dominant way to adopt busi-
ness applications. And, on the other side
we see the security and privacy threats that
full-scale use of cloud applications brings
along. Perimeter control by implementing
strong Identity and Access Management
capability therefore is key! iWelcome ad-
dresses this challenge and hence is a va-
luable addition to Newion’s investment
portfolio.”
Newion II invests in iWelcome Series A round
portfolio overview
2
Newion II acquires stake in Reasult HoldingOn 2 May 2013 Reasult, the supplier of real
estate software and Newion Investments
agreed on an equity transaction by which
Newion acquired an interest in Reasult.
Newion acquired the shareholdings of a
number of shareholders in Reasult Holding
B.V. and has thereby gained a significant mi-
nority stake.
Aart Zandbergen, Managing Director of
Reasult, said that he was delighted with the
arrival of Newion Investments as a share-
holder. “Reasult has built up an important
position in the real estate market with re-
gard to software for forecasting and analysis
and wants to further expand this position.
An experienced and professional software
investor like Newion Investments will ena-
ble us to achieve further national and inter-
national expansion. This is important for the
further development of our business.”
Jaap van Barneveld, Managing Partner of
Newion, said: “We consider our investment
in Reasult to be a valuable addition to our
portfolio. Reasult has built up an impres-
sive portfolio of clients in recent years.
The increasing reporting obligations which
confront housing corporations and real es-
tate investors are resulting in increased de-
mand for professional real estate software.
This trend and the opportunities abroad
mean that we expect Reasult with its high
quality products to be able to achieve
further substantial growth over the coming
years.”
Our team
Greetje van Ek
Investment Manager
Anna Tuinenburg
Office Manager
Jochem de Graaf
Investment Manager
Mathijs de Wit
Business Analyst
Nienke Verlaan
Office Manager
Understanding trends and shifts in IT mar-
kets requires more than anecdotal evi-
dence. Well-designed, focused and execu-
ted telephone surveys are a prime vehicle
to get an idea about what’s going on in a
specific market. Newion asked, Dr. Thomas
Mendel, Research In Action to compare
his EMEA IT Budget survey results for the
years 2012 and 2013, with more than 200 IT
decision makers interviewed for each sur-
vey. What are the key findings?
As far as overall IT budget trends are con-
cerned, investments in cloud Infrastructure
(public, hybrid, and private) are still num-
ber one, followed by business intelligence,
big data and in-memory computing. Third
place goes to flexible re-negotiation of
outsourcing contracts, in light of the cloud
phenomenon. The topic of SAP consolida-
tion is new on the agenda for 2013 and al-
ready achieved fourth place – something to
watch for 2014.
For the topic of cloud computing, enter-
prises are continuing to implement pri-
vate clouds, followed by public and hy-
brid clouds. In fourth place we find cloud
services for testing and backup which has
been quickly gaining importance over the
last two years and is likely to become even
more important in 2014. In the cloud space,
SAP is also new for 2013 in fifth place.
Survey backgroundEvery year, IT executives and vendors alike
are struggling with the right way of distri-
buting their scarce resources. Budgets and
internal manpower on the internal IT side,
versus marketing, sales and pre-sales labor
on the vendor side. One of the important
inputs for these kinds of decisions are ti-
mely and targeted surveys that explore the
real buying trends of enterprise IT decision
makers. That’s why, in 2011, Research In
Action decided to field its’ own survey to
get a better grip on where the real invest-
ment opportunities lie. The Research In Ac-
tion EMEA IT Trends Survey, is a telephone
survey that was fielded to 211 IT decision
makers in European Enterprises in 2011 and
262 in 2012. Job titles included CIO, VP IT,
VP infrastructure, VP operations, IT mana-
ger, and IT operations manager. All com-
panies interviewed are large or very large
enterprises with a headcount of more than
250 and a turnover of more than €50 mil-
lion. The survey was conducted between
September and October 2011 and again
between September and October 2013.
One important aspect of a successful sur-
vey (as well as for a successful venture
investment strategy for that matter), is a
clearly defined focus. The focus of this sur-
vey is the enterprise market (not SMBs)
and it is Europe (not the whole world).
Why? Because enterprise buying decision
and buying trends in these countries have
been traditionally relatively similar and the
SMB market is still very different from the
enterprise market. It will be therefore easy
for vendors and enterprises alike to put
conclusions from the survey results into
practice. It is also important to note that
we decided to use a top box approach, very
common in customer satisfaction surveys,
which means, we only asked folks for the
number one most important investment
trend. Why? Because it is a known rule of
thumb, that in most enterprises, only the
most important projects actually get fun-
ded and implemented, so asking for a wish
list will only dilute results unnecessarily.
Survey results: IT budgetNow, let us take a look at the actual survey
results. What are the differences between
2012 and 2013 when it comes to overall IT
Budget spending trends (See Figure 1)?
portfolio overview
3
EMEA enterprise IT budget and cloud computing survey results 2012 and 2013 compared
portfolio overview
4
Cloud Infrastructure (Public, Hybrid, Private
(incl. Virtualization))
With cloud infrastructure in first place for
both years, the proof is there that cloud
computing has most definitely arrived in
enterprise. No more is there need for the
“is this really real?” kind of discussion. En-
terprise IT managers are putting their mo-
ney where their mouths are, and vendors
are busy offering new services every day.
And IT services today include a variety of
cloud options. Having said that, the actual
percentages more than halved between
2012 and 2013, which most likely means
that the big cloud wave will already be over
by 2014 as the number one investment pri-
ority.
Business Intelligence, Big Data and In-Me-
mory
To some, cloud computing is already old
news; managing big data and implemen-
ting in-memory systems are the new hot
thing. Our survey result second that opi-
nion. Enterprises seem to be buying into
the concept with 12 percent stating busi-
ness intelligence, big data and in-memory
computing as their number one investment
area for 2012 and 2013 respectively. This is
an interesting and unique case where the
desires of the business decision makers
(mainly faster reaction times) and the ones
of the IT departments (new cool in-memory
technology) conspire in a positive way. Of
course, vendors like SAP and IBM also play
a role by pushing the topic hard, spending
many marketing dollars to do so.
Flexible Re-Negotiating of Outsourcing
Contracts
In third place, we find outsourcing. Driven
by the overall promise of the cloud phe-
nomenon - to slash the cost of running IT
services, companies want more favorable
conditions on their outsourcing deals. For
both years, a stable nine percent of respon-
dents see this topic as their number one in-
vestment priority, so the heat is clearly on
for service providers to react.
SAP Consolidation
Special mention outside of the top three
goes to SAP. If you are running SAP, you
surely ask yourself the question, why is
SAP so incredibly expensive? Can’t I get
something similar from the cloud? Why is
there no cheaper cloud-based SAP? For the
Figure 1: What is your number one investment area in IT for next year?
For 2012: N = 211 IT decision makers in European enterprises; for 2013: N = 262 IT decision makers in European enterprises.
portfolio overview
5
time being, and new on the agenda in 2013,
10 percent of companies told us they were
investing in the traditional way of trying to
contain SAP costs—through consolidation.
This approach is prudent because many
of the cloud-based SAP options are still
in infancy, let’s see how things change for
2014. And also keep in mind that SAP today
is much more than just ERP. Apart from a
comprehensive suite of business applicati-
ons, the company is offering a host of solu-
tions in other areas like business intelligen-
ce, in-memory (HANA = High Performance
Analytic Appliance), cloud and mobile.
Cloud Application Migration and Business
Apps in the Cloud
Fifth place goes to either moving or esta-
blishing business apps in the cloud with 10
and six percent for 2012 and 2013 respec-
tively. Anecdotal evidence from the inter-
views suggest that this desire is primarily
driven by the need to secure investments
made over a long period of time.
Survey results: cloud computingLet us also review a second topic that is on
everyone’s mind – cloud computing. What
are the differences between 2012 and 2013
when it comes to investments in the cloud
(See Figure 2)?
Implementing Private Clouds
This was the winner in 2012, with a huge
margin, still going strong in 2013, but only
in second place with 18 percent. Give it
another year, by then everyone will have
their private cloud. Why are enterprise IT
departments investing in the implementa-
tion of private cloud environments any-
way? The key focus is on automation and
cost savings. For large enterprises using
virtualization technologies, private clouds
are seen as the prime means of establi-
shing competitive internal IT services.
Public and Hybrid Clouds
Public and hybrid clouds are in second pla-
ce. Also going down in 2013 compared to
2012 (13 and 19 percent respectively). Many
companies are obviously planning to take
advantage of public cloud opportunities.
Research In Action believes that this is pri-
marily driven by business users and media
that are forcing IT departments to react.
The Cloud for Testing and Backup
One of the clear signs that the cloud mar-
ket is maturing, is the proliferation of more
specific investment topics like cloud for
test and backup (climbing from 12 to 18
percent between 2012 and 2013). Compa-
nies report significant savings and fast re-
turn on investment with cloud test environ-
ments, and as any IT manager will explain,
backup continues to be a major headache.
If you’ve ever tried a full restore of your
business’s data and applications that span
multiple tapes located in several locations,
you know how difficult this is. IT decision-
makers see the cloud as a cheaper and bet-
ter alternative to traditional backup soluti-
ons (and even if they are not, at least they
have someone else to blame).
(Public) Cloud Security
At eight percent in 2012 and 13 percent in
2013, security returns as the number four
top priority. Many buyers we interviewed
see cloud security as an important topic,
but not as the most important one. Compa-
nies that are most concerned about cloud
security typically come from such verticals
as healthcare and chemicals, financial ser-
vices, and government.
SAP in the Cloud
Back from the void is SAP, at least as far
as the cloud is concerned. The decision to
elevate cloud-related topics into the board
has put SAP into the spotlight again. En-
terprises now take SAP’s cloud strategy
seriously and are starting to make signifi-
cant investments, with 10 percent of res-
pondents voting for SAP as their number
one investment area in cloud. In Germany
this topic was even named a close second
for 2013.
Author: Dr. Thomas Mendel Ph.D., Mana-
ging Director Research In Action GmbH
Research In Action GmbH is a leading inde-
pendent information and communications
technology research and consulting com-
pany. The company provides both forward-
looking as well as practical advice to enter-
prise as well as vendor clients.
© 2013, Research In Action GmbH repro-
duction prohibited.
Figure 2: What is your number one investment area in the Cloud space for next year?
For 2012: N = 211 IT decision makers in European enterprises; for 2013: N = 262 IT decision makers in European enterprises.
portfolio overview
Servoy Named Cool Vendor in PaaS 2012
by Gartner, Inc.
Servoy, the leading provider of Business Appli-
cation Platform technology and solutions, was
included in the ‘Cool Vendors in Platform as
a Service, 2012’ report published by Gartner,
Inc.
According to the Gartner report, Servoy is of
particular interest to Independent Software
Vendors (ISVs) who are under pressure to de-
liver their solution(s) on-premises, hosted and
as a service (SaaS) while supporting a growing
variety of mobile devices.
“We are delighted to be recognized by the
analyst community for the growing excite-
ment caused by our comprehensive business
application platform and the many unique
ways in which we continue to drive value for
our clients and their customers and users. We
consider our inclusion in the Cool Vendor re-
port by Gartner as a confirmation of our mis-
sion and our reinvigorated focus on the
achievement of our ISV ambitions.” said Jan
Aleman, CEO of Servoy.
Investment in Flinqer, the collaborative
cash management network
Flinqer, the collaborative cash management
network, announced the closing of a serie B
investment round by Newion Investments.
The investment will be used to accelerate
sales and market development.
Reinier Weerman, CEO of Flinqer: “Cash distri-
bution between companies can be done much
more efficiently and cost effectively. Flinqer
plays a key role in helping companies achieve
this. With the backing of Newion Investments,
Flinqer can now increase its marketing and
sales activities and introduce further solutions
that radically optimise cash distribution within
supply chains. Flinqer is already being success-
fully used, among others, by Dura Vermeer
and Plus Retail and their suppliers.”
Jaap van Barneveld, Partner at Newion Invest-
ments B.V.: “Improving efficiency in cash dis-
tribution is particularly interesting these days.
Many companies are looking into a more ef-
ficient use of working capital. Yet, they often
limit to better inventory management, rather
than liquidity. We have investigated multiple
opportunities and have decided to invest in
Flinqer. Like supply chain management op-
timizes flows of goods and reduces invento-
ries, Flinqer optimizes cash flows and reduces
debts. Since both suppliers and buyers bene-
fit from Flinqer, we anticipate considerable
growth of the Flinqer platform”.
2013
Software Improvement Group awards Le-
anApps Life 3 Stars!
The Software Improvement Group (SIG) re-
cently awarded LeanApps Life a 3 star rating
(on a scale of 5). SIG is an independent agency
that evaluates the technical quality of software.
“A SIG 3 star rating for such complex software
speaks highly of the technical stability and main-
tainability of the software. This is achieved by
the ‘continuous improvement policy’ adopted
by the LeanApps development organisation:
a philosophy that small incremental improve-
ments create a clear upward trend, which mo-
tivates employees to maintain and further en-
hance the quality of the software.” says Ron van
den Broek, Managing Director of LeanApps.
LeanApps is committed to the technical qua-
lity of its software and is engaged in conti-
nuous improvement initiatives. To ensure that
there is no divergence from quality standards,
LeanApps uploads its entire source code onto
the SIG platform on a weekly basis. SIG gene-
rates trend reports and advises LeanApps of
any inconsistencies, which enables LeanApps
to identify potential technical degradations and
deal with them proactively. That way, LeanApps
secures the quality of LeanApps Life for its cus-
tomers.
Collibra launches Data Governance Center
4.0 - a Data Steward focused platform
The launch of Collibra’s Data Governance Cen-
ter is a groundbreaking change in the data ma-
nagement space. Collibra’s Data Governance
Center is a web-based solution for business
and IT data stewards who work together to
control and manage data. As a workflow-
based data governance engine it supports
data management processes and decisions
involving the data steward organization.
Data Governance Center 4.0 consists of a
suite of three seamlessly integrated products:
‘Business Semantics Glossary’, ‘Reference
Data Accelerator’ and ‘Data Stewardship
Manager’. The suite supports key data gover-
Newion News Flash
2012
6
May
2
July
3
February
27
March
22
portfolio overview
nance and stewardship requirements such as
business glossary, data directory, reference
data management, policy management and
compliance, data quality issue management
and monitoring.
Data Governance Center 4.0 is installed and
commissioned in 10 days. This includes instal-
lation, training and configuration to match your
operational model. This guarantees a low TCO
and accelerated data maturity increase.
Vector Fabrics named Cool Vendor in Em-
bedded Software and Systems 2013 by
Gartner, Inc
Vector Fabrics has launched tools to help soft-
ware developers optimize and parallelize their
applications for multicore architectures quickly
and cost effectively.
Why Cool? Vector Fabrics’ Pareon offers an in-
cremental path to transform sequential code
into optimized parallel code that takes full ad-
vantage of the hardware. The unique feature
of Pareon is its ability to optimize any code
written in C/C++ for various multicore archi-
tectures.
This means Pareon can optimize code for
mobile devices, network processing and high-
performance computing and other systems
that use these architectures.
Newion CTO Agile Workshop
Our portfolio companies often express a
desire to meet other companies in the port-
folio with a view to sharing experiences. So
Newion organised a CTO workshop on 30 May
with the aim of increasing synergy between
its portfolio companies. The theme of the
workshop was agile software development.
Agile software development is a software
development method based on iterative and
incremental development, where require-
ments and solutions evolve through collabora-
tion between self-organizing, cross-functional
teams. It promotes adaptive planning, evolu-
tionary development and delivery and encou-
rages rapid and flexible response to change.
The workshop was held in Hilversum under
the inspired leadership of Rini van Solingen
and Vikram Kapoor (Prowareness). After a
creative introduction, the 15 CTOs attending
the workshop were asked to rate themselves
based on the level of agile maturity of their
companies and to present the outcome to
their peers. This was the start of a lively discus-
sion encouraged by the invitation for everyone
to ‘open their kimonos’. The resulting list of
current inhibitors was discussed and possible
solutions were suggested by the attendees.
After a walking dinner, Rini van Solingen and
Vikram Kapoor presented the do’s and don’ts
of Scrum. Scrum is an iterative and incremen-
tal agile software development framework for
managing software development.
The workshop ended with drinks and positive
comments from the participants. The gene-
ral opinion expressed by the CTOs was that
there is a powerful community and that regular
meetings with peers would be helpful. So the
next workshop is already being considered.
Newion achieves successful exit with sale
of Mirror42 to ServiceNow
Newion Investments achieved a very success-
ful exit with the sale of its interest in Mirror42.
The company has been acquired by an inter-
national strategic buyer, the US-based Servi-
ceNow – The Enterprise IT Cloud Company.
Mirror42 specialises in business intelligence
software for IT management.
The company grew with support of Newion to
a leading vendor of cloud-based IT and busi-
ness intelligence solutions that provide users
with key performance indicator (KPI) driven
dashboards and scorecards.
Newion used its Private Plus Fund to invest in
the company in December 2007. Together with
founders Karel van der Poel and Arjen Pront, and
CEO Marcel Smit, we looked back on the deve-
lopment of the company from when it first star-
ted, the role played by Newion and the process
that resulted in the acquisition by ServiceNow.
Karel van der Poel: “When we first met in
2007 Newion insisted on monitoring our de-
velopments for three quarters before procee-
ding to invest. But once we proved that we
were capable of closing deals independently,
the process rapidly gathered momentum
and the investment went ahead as planned”.
The entire interview can be read in News on In-
vestments July 2013: http://www.newion-invest-
ments.com/news-on-investments-july-2013
Newion News Flash
7
April
23
May
30
July
9
Businesspark Friesland West 27B
8466 SL Nijehaske
The Netherlands
Luchthavenweg 81, 138
5657 EA Eindhoven
The Netherlands
Telephone +31 (0)513 640 633
Fax +31 (0)513 640 871
E-mail [email protected]
Contact us
Questions? Call us:+31 513 640 633a new eye on investments
= Newion Office
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