PSPDFKit Announces €100 Million Strategic Investment From Insight Partners to Fuel Growth
Excerpt: PSPDFKit received an investment totaling more than €100 million from Insight Partners, a leading global venture capital and private equity firm based in New York. The investment is expected to accelerate product growth and fund strategic acquisitions, further expanding the capabilities of PSPDFKit’s highly adopted document processing platform.
About the author: Jonathan is the COO and co-founder of PSPDFKit GmbH, a company focused on increasing productivity around the globe by providing robust PDF solutions to companies and end-users. He handles everything … Read more
PSPDFKit, the leading document processing and manipulation platform for developers and enterprise businesses, announced its first strategic growth investment led by Insight Partners, a New York-based global venture capital and private equity firm focused on growth-stage software and technology companies. Insight’s investment, which totals more than €100 million, is expected to accelerate product growth and fund strategic acquisitions, further expanding the capabilities of PSPDFKit’s highly adopted document processing platform. Nearly a billion end-users in over 150 different countries rely on PSPDFKit every day while using web and mobile applications that are built on the company’s platform, including industry leaders like Dropbox, DocuSign, SAP, IBM, Volkswagen, Fabasoft, Wolters Kluwer Deutschland, and the European Patent Office. With just a few lines of code, the company’s software development kits (SDKs) and hosted solutions empower software engineers to easily generate documents and enable viewing, markup, real-time collaboration, signing and more in their customers’ enterprise applications.
Jonathan Rhyne, Co-Founder and CEO of PSPDFKit, saw a clear, unfulfilled need for a platform that could build the tools developers need to replace paper with modern, user-friendly digital document solutions.
“The digital document space is crowded with outdated, legacy approaches focused on rigid specifications, and not the evolving needs and high degree of customization and flexibility demanded by software developers and end-users,” said Rhyne. “PSPDFKit empowers tomorrow’s engineers and businesses as they enter a new world where remote work and digital document workflows are now the norm and not the exception.”
Ryan Hinkle, Managing Director at Insight Partners, will be joining PSPDFKit’s board. The partnership with Insight will catalyze the expansion of PSPDFKit’s world-class document processing platform to serve more engineers and organizations as they invent and develop the next generation of applications and experiences.
“Software developers and engineers are on the cutting edge of work simply by the nature of their craft,” said Hinkle. “How they work and collaborate should be on the cutting edge, too. With PSPDFKit’s software development kits and hosted solutions, the company is revolutionizing document processing for enterprises and the developers they task with keeping the company at the forefront of innovation. Insight is thrilled to play a role in the company’s growth journey.”
Rhyne continues, “From day one, our ethos at PSPDFKit has been to put developers first. “Developers have a tremendous impact on how we go about work, and our mission is to provide the best possible tools to help them deliver incredible solutions.”
The transaction, which is subject to regulatory clearance and other customary conditions to closing, is expected to close in Q4 2021.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.