Snow Software and Vitruvian Partners Announce $120 Million Strategic
Investment from Sumeru Equity Partners and Ontario Pension Board
Investment Accelerates Snow’s Leading Software Asset Management and Cloud Spend
Management Platform and Expands Global Sales and Marketing
Stockholm, Sweden - April 27, 2017 – Snow Software (“Snow”), the global leader in Software Asset
Management (“SAM”) and Cloud Spend Management solutions, today announced a $120 million
strategic investment from Sumeru Equity Partners (“SEP”) and Ontario Pension Board (“OPB”). The
investment will accelerate global expansion plans, enhance Snow’s offering across mobile and cloud
platforms and drive new product innovation. Existing shareholders, including CEO and co-founder Axel
Kling, Snow employees and Vitruvian Partners (“Vitruvian”), will continue to hold a majority
shareholding in the business and remain fully committed to Snow’s evolution. SEP Managing Directors,
Jason Babcoke and George Kadifa, will join Snow’s board of directors.
Chief Executive Officer and co-founder of Snow, Axel Kling, commented: “We are grateful not only to
have been part of making Software Asset Management one of the fastest-growing software verticals
in the world, but also to get the opportunity to redefine the customers’ expectations of SAM solutions
through coverage of new platforms, licensing types and advanced automation capabilities.
“We have come a long way but we are still only scratching the surface on the enormous potential in
supporting customers to ensure that the $394.8 billion i spent every year on enterprise software is
invested efficiently. With Vitruvian and SEP, we are thrilled to have the backing of two world-class
investors as Snow enters the next stage of its development on our continued quest for brilliance.”
Founded in 2004, Snow is the established global market leader in SAM, helping over 6,000
organizations across more than 50 countries contain and optimize software spend and achieve
compliance with complex software licensing terms across mobile, desktop, data center and cloud
solutions. Snow’s solutions provide highly automated reconciliation of license entitlements to actual
software usage, installations/ removals and license upgrades as well as advanced analytics which help
customers save up to 30% of their annual software expenditure.
Customers further use Snow’s solution as a decision-making analytics tool to direct investment in new
software and maximizing ROI. Snow’s cloud-based and on-premise platforms have been recognized
and rewarded by among others Forrester, Gartner and ITAM Review. Snow has grown its revenues by
more than 50% annually since 2012 and today has over 700 employees in 21 countries. Recent notable
client wins include Canon, Sky, Lockheed Martin, IKEA, Volkswagen, Tesco and Rio Tinto.
Managing Partner at SEP, Kyle Ryland, commented: “We identified Snow several years ago as a leader
in managing the complexity and cost of software and cloud services, a growing challenge for
enterprises. Under the leadership of Axel, Snow has demonstrated strong growth and product
innovation and we are excited to partner with the company and Vitruvian to build upon that success.”
Mike Risman, Chairman of Snow Software added: “Vitruvian is delighted to continue supporting Axel
and the Snow team in their drive to global leadership in this exciting market. We welcome SEP and
OPB as key partners to help achieve success. Snow’s relentless focus on product excellence has
delivered tremendous growth since inception, and it has been a privilege for us to work on a number
of strategic initiatives with the business over the past years. The addressable market for software
governance and cloud control solutions is massive. We congratulate Axel and his team on the scope
of their founding vision and achieving this additional milestone on their impressive journey to global
implementation.”
ENDS
About Snow Software
Snow provides Software Asset Management (SAM) solutions that prevent any of the $394.8 billion
spent every year on enterprise software being a wasted investment – ensuring organizations have
appropriate licensing for the software they use.
More than 6,000 organizations worldwide rely on Snow to optimize licensing across mobile, desktop,
data center and cloud platforms.
For more information, please visit www.snowsoftware.com
About Sumeru Equity Partners
Sumeru Equity Partners is a technology-focused private equity firm that invests in market leaders
across software, technology-enabled services and hardware. The firm was founded in Silicon Valley by
an experienced team from Silver Lake.  Sumeru Equity Partners utilizes extensive operating and
investment experience in partnership with founders and management teams to drive growth and
build strategic value. We believe long-term value is created through better strategy, operations and
business models, not financial engineering. Our portfolio includes industry leaders such as Blackline
Systems, Buildium, Cybera, Foreflight and Talend, among others. For more information, please visit
www.sumeruequity.com
About Ontario Pension Board (OPB)
Ontario Pension Board administers Ontario's Public Service Pension Plan, a defined benefit pension
plan serving over 85,000 active, retired and deferred members and their employers. With more than
$24.4 billion in assets, it is one of Canada's largest pension plans. Over the last 20 years, Ontario
Pension Board has become one of Canada's leading direct owners of high quality commercial real
estate.
About Vitruvian Partners
Vitruvian Partners is a leading pan European private equity investor focusing on high growth,
technology-centric “Dynamic Situations”. Vitruvian supports entrepreneurial management teams and
founders through a combination of strategic initiatives and operational support. Vitruvian has assets
under management of €2.2 billion and offices in London, Stockholm, Munich, San Francisco and
Luxembourg. Vitruvian has been particularly active in the technology and internet/cloud services
environment with strategic investments that include: Just Eat, Farfetch, Skyscanner, Voxbone,
Snapologic, CRF Health, Benify, Callcredit and OAG – as well as its longstanding support of Snow
Software.
For further information on Vitruvian please contact: [email protected]
PR Contact:
Su Kent
Snow Software
[email protected]
+46 70 822 1149
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Gartner. Forecast Alert: IT Spending, Worldwide, 1Q17 Update. Published: 30 March 2017 I