At a glance
50% growth in team size
350k SAP global installed base
17% APM market growth
The Avantra product lured us in: Application Performance Monitoring software, aimed at SAP users. This is familiar territory for us – using data and analytics to help customers reduce costs and improve operational efficiency. In a nutshell, it’s what we do best.
Furthermore, APM is a strong market, experiencing double-digit growth in the year prior to our investment. The continued growth of automation software has been spurred on by the increasingly complex nature of IT infrastructure. We believed the future of the sector future looked extremely exciting.
Despite the strong tailwinds and obvious raw potential at Avantra, the Company had been underperforming its potential prior to our investment. It was in need of broad professionalisation, and significant investment in its core product offering.
Having built on Avantra’s data collection and machine learning capabilities, we set out to create a market-leading cross-platform monitoring product utilising artificial intelligence (AIOps). The improved product focuses on real-time reporting, insights, and automation – all saving clients’ time and money.
But it’s not all about product. Our success to date has also been buoyed by a more active sales strategy. This is being achieved by entering the North American market, building there on the Company’s considerable success in Europe. Synova’s US growth team has been instrumental in driving this strategy; expanding employee numbers by almost fifty percent.
Since Synova’s investment, ARR at Avantra has grown by over 100% – with repeat customers now representing some 90% of total revenue. As ever, these numbers are really beginning to vindicate our work and that of the Avantra team.
“Synova’s experience helping software companies scale internationally, and build infrastructure to support that rapid growth is invaluable. Their capacity and approach to work proactively with Avantra has made them a true value-adding partner to our executive team.”
– James Appleby, Executive Chairperson