Redwood Software raises EUR315m strategic investment from Turn/River Capital to expand cloud automation solutions
Redwood Software, a specialist provider of cloud-based business and IT process automation solutions, has received a EUR315 million strategic investment from growth equity firm Turn/River Capital. The investment from Turn/River will enable Redwood to accelerate new feature development for its industry-leading IT and business process automation platform, which FeaturedCustomers recently recognised as a rising star in the Spring 2021 RPA Software Customer Success Report.
Statista estimates the global automation industry will generate USD214 billion in 2021, with process automation exceeding USD83 billion. “The modern enterprise needs sophisticated automation solutions to enable it to scale rapidly and still remain agile in the face of disruptions,” says Dan Twing, President and Chief Operating Officer of analyst firm Enterprise Management Associates (EMA). “It’s imperative that organisations adopt technology that can support the breadth of their business operations. Redwood provides the only cloud-based solution of its kind, purpose-built for the enterprise, setting it apart as a leader in the space.”
Redwood Software is an established leader in leveraging powerful, low-code technology to automate industrial-scale enterprise processes across infrastructure management, finance automation, automated DevOps, supply chain management and more. As companies respond to recent market disruptions and invest heavily in technology to promote agility and collaboration, the growth financing from Turn/River will support the already “Rule of 60” company in advancing its capabilities to unlock new efficiencies in mission critical business processes and deepen its leadership in evolving automation tools for the modern workplace.
Founded in 1993, Netherlands-based Redwood Software serves thousands of global enterprise customers, including Coca-Cola, GM, Halliburton, Grainger, Wells Fargo, UBS, Mercedes-Benz, Airbus, Siemens, and Heineken. Among other accolades, Redwood was named the “Best SaaS Workload Automation Solution'' in 2019 by EMA.
Tijl Vuyk, Redwood Software CEO and Founder, says: “We are thrilled to partner with Turn/River. Their team’s go-to-market expertise combined with Redwood’s best-in-class technology will create a highly complementary partnership, and further our goal of bringing modern automation to every enterprise.”
Turn/River, a technology focused growth equity firm, partners with companies like Redwood by pairing flexible capital with an operational team that specialises in software go-to-market strategies. “Redwood is a technology leader that enables the world’s largest companies to automate manual tasks and streamline complex business processes,” says Dominic Ang, Founder and Managing Partner of Turn/River Capital. “We are beyond excited to provide growth funding and go-to-market support for the expansion of Redwood’s mission critical software solutions.”
Redwood was advised on the investment by HVG Law. Turn/River was advised on the investment by CMS, Orrick and Lincoln International.