GHENT, Belgium, March 15, 2018 /PRNewswire/ - Fortino Capital leads a 2.8 million euros ($3.5 million USD) round in the Ghent headquartered company PieSync through its venture fund. Fortino Capital led the round with participation from existing investors including Ark Angels Activator Fund, PMV and Dirk Vermunicht.The PieSync intelligent synchronization platform is an integrated software-as-a-service cloud application to manage contact information. It provides two-way real time synchronization of contact data between the various cloud applications used.
Today, both multinationals and SMEs use a combination of various (often specialized) cloud applications. One of the biggest challenges for companies is to integrate these applications and manage their data as simply and affordably as possible. Most integration applications only "push" data one way, from one application to the other. PieSync ensures that businesses always have access to their most recent contact data, across every application.
Duco Sickinghe, Managing Partner at Fortino Capital: "PieSync fills the gap in the market for two-way real time synchronization of contact data in a simple and affordable way. The platform now works successfully with more than 100 different applications, with new ones being added every week. We want our investment to support that continued growth." The investment of 2.8 million euros is aimed at helping PieSync expand commercially, through increased growth in sales and marketing and by strengthening its management team.
PieSync currently synchronizes more than 100 different SaaS applications including Google Contacts, Hubspot, Marketo, Salesforce, Teamleader and specialized applications such as accounting programs. The platform automatically detects possible conflicts in contact data and matches and duplicates data in a clever way. Hence, integrating PieSync in an application landscape eliminates the data gaps between sales, marketing and customer services, and allows more efficient and productive cross-department data management.
"We're focused on becoming the best solution to help organizations of all sizes to intelligently connect cloud-based business apps without complexity," said Ewout Meyns, Founder and CEO of PieSync. "The partnership with Fortino Capital is an important step forward in executing our vision to become the fastest growing two-way intelligent data synchronization platform for organizations that want to power their business by integrating their cloud apps. "
PieSync was founded in 2014 by entrepreneurs Ewout Meyns and Mattias Putman in Ghent. Since then, it has grown into a world-renowned player in SaaS. Fifty percent of its customers are American companies.
About Fortino Capital Partners
The investment firm Fortino Capital was founded in 2013 and is managed by Duco Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Fortino Capital uses its first venture fund to invest in start-ups with a focus on technology, e-commerce and digital transformation. A second investment fund, Fortino Capital II Growth, was launched at the end of 2017. This 200 million euro fund aims at investing in scale-ups and growth businesses in Benelux. Fortino is using this second fund to extend its investments to larger and more traditional businesses willing to accelerate growth through digitization. Fortino Capital reinforces capital, as well as providing expertise and experience in terms of innovation, strategy and growth. Fortino Capital's investment portfolio includes Bloomon, Teamleader, Aproplan, TrendMiner and MobileXpense, among others.
PieSync is the fastest growing two-way intelligent data synchronization platform for organizations that want to power their business by integrating their cloud apps. PieSync improves sales, marketing and service performance by easily and affordably connecting contact data without complexity across SaaS-based ecosystems and applications to guarantee relevance and reliability, every time. PieSync connects over 100 applications with new ones added every week and supports customers with greater than 20 employees across many industries. The company was founded in 2014 with the active support of start-up accelerator imec and in 2016 received 1.5 million Euro ($1.6 million USD) in funding from current investors Ark Angels Activator Fundand PMV. PieSync is headquartered in Ghent, Belgium and actively hiring new talent to join their growing team.