Fortino Capital exits Business Process Management firm Symbio
Fortino Capital exits Business Process Management firm Symbio
Munich, November 30, 2023 – Fortino Capital, a European B2B software venture capital and growth equity firm, today shared that Celonis, the global market leader in process mining, has acquired Symbioworld GmbH, an innovative AI-driven business process management software provider. For Fortino Capital this marks the first exit of an investment in Germany.
Fortino Capital initially invested in Symbio in December 2022, as the company had shown strong proof of organic growth with a sticky and recurring customer base. Following the investment, Fortino supported the Symbio management on further professionalization of the company and leveraging its growth potential. Fortino supported Symbio in accelerating its growth by providing operational experience as Saas B2B investors. Throughout the holding period of Fortino Capital, Symbio has experienced a significant uptick in growth, fueled by new product innovations focusing on AI, the implementation of a refined go-to-market strategy and further internationalization.
Philipp Remy, Partner at Fortino Capital, explains: “The acquisition of Symbio by Celonis symbolizes a powerful market event as the two companies can now provide managers and employees with a unified end-to-end process experience for deploying process best practices aligned with real-time performance metrics and monitoring. We want to thank the Symbio team for our great partnership and this very successful journey we had together.
With the launch of the Symbio AI Copilot this year, Symbio took another big step forward in its position at the forefront of Business Process Management. Fortino supported the Symbio management in inventing and launching this product innovation in the initial phase of the holding period with imminent large-scale customer demand and commercial traction. We wish the Symbio and Celonis team the very best in their mission to bring process intelligence to all companies around the globe.”
Oliver Zeller, CEO and co-founder of Symbio, added: “By joining forces with Celonis we have a great opportunity to enable employee-centric process intelligence at scale. Combining Celonis’ market-leading process mining technology with Symbio’s ability to allow employees to easily retrieve all relevant processes and information via AI search and personal Copilot capability provides a game-changer in process intelligence for our customers.
I would like to thank Philipp and the entire Fortino team for supporting us with their outstanding operational expertise and impeccable commitment, which enabled Symbio to rapidly benefit from the right strategic focus, evident in our accelerated growth trajectory.”
