Independent Iberian management company GED Capital has invested, through its Conexo Ventures fund, in SimpleCloud, a leading company in the transformation of the animation, video game, advertising and special effects industries. This startup, founded in 2008, and backed by Inveready, Caixa Capital Risc y CDTI, offers a global platform based on the cloud for the management and creation of digital content focused on companies and also has one of the most powerful tools created for teleworking.
Conexo will use its proven international expansion formula to accelerate the growth of SimpleCloud in the US market, where Covid-19 pandemic is accelerating the already existing processes of digital transformation, task remote operation and equipment distribution. Sectors such as architecture, graphic design, film and video game creation now depend more and more on their ability to coordinate talent across different geographies. The education sector is also being greatly affected by international mobility limitations, so most universities are planning to provide more online training. Companies like SimpleCloud will offer the fundamental tools to ensure an optimal experience in this new paradigm.
SimpleCloud allows users to connect to powerful virtual desktops in the cloud from anywhere in the world. Users of the platform can grow their business by using any type of equipment, maintaining their usual way of working through their applications, tools, software, hardware or equivalent, and collaborate on projects as if they were in the same office. The platform works through the infrastructure provided exclusively by the IBM Cloud, with a global network of more than 60 cloud data centres in 19 countries.
This new acquisition of Conexo Ventures joins the recent investments in other startups and the ones that the management company already has in private equity and infrastructure investments. With a target size of 40 to 50 million euros, Conexo Ventures plans to invest in around 20 operations, of which around 50 per cent will be follow-up investments
This fund, which already has investment commitments of around 35 million euros, seeks opportunities in Iberian startups that develop disruptive software with scalable and defensible business models, preferably using Artificial Intelligence, for high-demand sectors such as: “Cybersecurity”, “Payments and Marketplaces”, “Finance and Insurance”, “Communications & 5G” and “Cloud and Teleworking”.
The entry of Conexo Ventures into Simplecloud’s capital will help the company accelerate its growth in the North American market. This is in line with the fund’s objective to support, through investment in seed stage, teams of trained entrepreneurs that are “exportable” to the United States and there achieve the next financing rounds (growth and expansion) and, finally, the mezzanine round.
Isaac de la Peña, partner of Conexo Ventures, says: “We are very glad to be able to support a startup like Simplecloud, with a great potential for growth and geographical expansion. With the support of our fund, the company will have the possibility to access the US market through the fast track. This operation is part of our goal to leverage capital efficiencies in Southern Europe to achieve higher investment multiples through exits in more advanced markets.”
