Syncron confirms $67mn investment from Summit Partners to develop SaaS solutions

By Sean Galea-Pace
Syncron has confirmed a $67mn minority investment from global growth equity company, Summit Partners, in order to aid development of its Software as a s...

Syncron has confirmed a $67mn minority investment from global growth equity company, Summit Partners, in order to aid development of its Software as a service (SaaS) solutions and further accelerate its worldwide operations.

Syncron, the provider of cloud-based after-sales service solutions, are aiming to empower the world’s leading manufacturers in a bid to maximize product uptime and provide outstanding customer experiences.

With the introduction of servitization, which allows companies to evolve from selling one-off products to providing the output or value that products offer, it has encouraged manufacturers to evolve their after-sales service operations.

The Sweden-based company, Syncron, provides a fully integrated SaaS platform which allows for optimization of performance of the after-sales service supply chain and allows global manufacturers to transition to subscription-based uptime service models.

See more:

It is hoped the new partnership with Summit Partners will allow its SaaS applications to develop further.

Anders Grudén, CEO of Syncron, said: “We are delighted to partner with Summit Partners to support Syncron’s next chapter of expansion and our path to IPO readiness.”

“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.”

Share

Featured Articles

Immensa and Intaj Suhar partner to boost Omani manufacturing

MENA’s leading digital manufacturer Immensa has partnered with Intaj Suhar to enhance Oman’s localised manufacturing through digital inventory solutions

Bain & Company Report: OEMs and Digital Transformation

Bain & Company report urges original equipment manufacturers to embrace digital solutions and shift to a customer-focused mindset to stay competitive

The Factory of the Future: Manufacturers' Biggest Challenges

Here’s the biggest challenges manufacturers face with developing the factory of the future, with insight from Graham Upton, Head Of Technology at Capgemini

Dassault Systèmes Bring AR Manufacturing Showcase to London

Smart Manufacturing

Join Belden for a Free Webinar on Connected Plant Floor Data

Production & Operations

Cristina Semperboni: Women In Engineering Spotlight

Production & Operations