CostPerform finds growth partners in NIBC Investment Partners and Arches Capital
NIBC Investment Partners and Arches Capital invest in CostPerform, the leading international software platform for Cost and Performance Management, to accelerate its global growth.
Working towards the goal of improving cost efficiency and transparency of all organizations over US$ 100m+ revenue worldwide
Sander den Hartog, CEO of CostPerform is very excited about the future: ”Our current strategy to move towards a SaaS-only focus has brought us very significant growth in our recurring revenue. With the larger technical modifications behind us and a proven client base with companies like ING, the US Department of Homeland Security, British Telecom and the National Bank of Belgium we are now ready to boost our global presence by investing in the commercial capabilities of our team. It is our strong belief that any organization in the world can benefit from using CostPerform to create insights in true costs of products and services. These insights are used to improve profitability, stakeholder trust and performance discussions inside companies. We therefore aim to be present at those organizations worldwide.”
CostPerform was founded in 2001 and has been run by the founders up until 2019. By adopting a product-oriented strategy, the company has supported over 450 clients in over 45 countries in improving their cost efficiency. Working together with large implementation partners like KPMG, Deloitte, Ernst & Young and PWC has resulted in a steady growth through the years. Having a long-term consulting background at KPMG was therefore of great benefit to Sander den Hartog when he joined the management in 2019: “I had experienced the power and the thoroughness of the software first-hand in my role as a consultant and saw the potential of CostPerform. The technical team led by CTO Bert-Jan de Gier did a great job in adapting the software to become fully SaaS based whilst still servicing our on-premise client base. Investing in the commercial team of the company is the logical next step.”
The larger scale of operations of CostPerform also proved to be a logical moment for the last of the current founders to step down from their management positions. Both Carlos van der Vorst and Lim Vermeer have fully handed over the management of the company to Sander den Hartog and Bert-Jan de Gier. Co-founder Ulrik van Beyma had already reduced his operational involvement in 2020. Sander den Hartog: “We are very grateful to be given this opportunity and we strongly believe that we can build upon the tremendously strong foundation that has been laid over the past 20 years. We are proud that both Carlos and Lim will be on board as independent partner/advisors, and together with Ulrik will remain investors in CostPerform. This is a vote of confidence in both us and our new partners, NIBC Investment Partners and Arches Capital.”
Having both NIBC Investment Partners and Arches Capital on board is a great support for CostPerform, not only from a financial standpoint. Sander den Hartog: “Having the ability to tap into about 100 business angels at Arches Capital that have gone through similar scale-up experiences is very valuable. Combining that with the financial expertise, broader portfolio of fast-growing companies and experience with internationalisation of NIBC Investment Partners (owned by Blackstone) makes them the optimal partners to help us in realizing our ambitions.”
Cost and performance management more important than ever
Frans van der Harst, Managing Director and Head of NIBC Investment Partners is equally excited about the cooperation: “Organizations throughout the world increasingly face challenges in the field of cost management, both in a downward market to rationalize costs as well as in an upward market to optimize product and service portfolios. We are convinced of the market potential for CostPerform, given the clear added value of CostPerform for profit optimization as well as for fiscal and regulatory reporting with specific opportunities for regulatory costing in Telco and Financial Services. We are looking forward to support CostPerform in realizing its growth ambitions in any way we possibly can”.
Frank Appeldoorn, Managing Director at Arches Capital: “We always look for strong teams that know how to build something truly unique and ‘must-have’ for their customers. We were thrilled to see how its customers use and love CostPerform. This was very tangible during the CostPerform conference, where a broad fan base of customers joined to discuss all things CostPerform. We hope that with this investment round, CostPerform can accelerate its impressive growth trajectory on its mission to serve the largest enterprises in the world.”