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

By Sean Galea-Pace
Share
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

UPDATED VENUE & DATE – Manufacturing LIVE Chicago 2025

Manufacturing LIVE Chicago announces important changes to its venue and date for the co-located event with PSC LIVE and Sustainability LIVE in 2025

The Breakdown of the Global Plastics Treaty isn't the end

The failure of the INC-5 talks has caused anger across the manufacturing sector, but the breakdown of this treaty will not stop efforts to address plastic

Stellantis Plant Shutdown Confirms EV Manufacturing Concerns

Stellantis is shutting down its Luton EV plant due to low demand, vindicating some manufacturers concerns that EV governmental targets are too ambitious

The Highlights of the Rockwell Automation Fair 2024

Digital Factory

TFL Drives Future of Electrification With Buses on Route 358

Sustainability & ESG

Nissan: Striving To Safeguard EV Manufacturing Interests

Sustainability & ESG