Screendragon Ltd. (a technology leader in SaaS-based workflow automation) announced that Kennet Partners and Federated Hermes Private Equity have invested $27 million in the software company to drive the continued expansion of the business.
Screendragon is a highly awarded platform serving the agency and marketing sectors. Its platform is designed to automate complex workflows, connect distributed teams, and provide visibility and agility at scale. Powering many of the most well-known brands and agencies, it helps teams plan, innovate, create, and deliver content to market efficiently and effectively.
In a margin-compressed, P&L-constrained environment, where teams are asked to take on increasingly heavier workloads, Screendragon eliminates unnecessary work and compresses cycle time, enabling teams to be more efficient while focusing on the job they were hired to do versus managing workflow processes.
The $27 million investment aims to facilitate a commitment to invest in the company’s Irish operation, doubling Screendragon’s workforce in Cork and underpinning the company’s further expansion into the US market. The company’s executive leadership team and founders, John Briggs, Jan Quant, and Fergus Ashe, will continue to lead the company, with Executive Chairman Clive Sirkin assuming the role of Chairman of a newly constituted Board of Directors.
Kennet (a growth equity investor with a long track record of successful investments in bootstrapped and capital-efficient B2B software across Europe and the US) is leading the round. And Federated Hermes Private Equity, with over two decades of experience investing alongside private equity firms with $6.3 billion of assets under management, is investing alongside.
Along with Clive Sirkin, Cillian Hilliard, Director and Michael Elias, Managing Director of Kennet and Fidel Manolopoulos, Partner & Co-Head of EMEA Investment at Federated Hermes Private Equity, will also join Screendragon’s board of directors. An independent board member will be named shortly.
KEY QUOTES:
“We were impressed with Screendragon’s bootstrapped growth story. The team has outcompeted software giants to win some of the world’s largest brands as customers without raising any institutional capital. Our investment demonstrates the confidence we have in Screendragon’s differentiated technology, the existing team and its blue-chip customer base. With additional resources to strengthen the team in Cork and the US, and scaling of the existing leadership talent, we are confident we can transform the business into a global leader.”
– Cillian Hilliard, Director of Kennet.
“Jan, Fergus, Clive and I vetted several investment firms over many months for possible investment. Kennet Partners has a proven track record of growing successful businesses. We are looking forward to using this investment and adding resources to accelerate sales, product roadmap, and growth objectives while continuing to deliver the innovative technology and support our existing clients have come to expect.”
– John Briggs co-CEO and founder of Screendragon
