Pride Capital Partners has invested a minority stake in RUBICON, an eGovernment provider in the German-speaking region. With the newly formed partnership, RUBICON intends to expand its market reach outside the borders of Austria and Switzerland in the coming years and target strategic acquisitions as part of the new joint strategy.
The Dutch software investor, with offices in Amsterdam, Cologne, and Copenhagen, is pleased to have completed its first Austrian partnership, an exciting milestone.
Founded in 2001, RUBICON has grown autonomously to a market-leading position in the public-sector Enterprise Content Management (ECM) market in both Austria as well as Switzerland. RUBICON is a strategic supplier of business-critical software to some of the largest and most well-known public agencies. Through long-term framework agreements, the company has a stable and growing recurring-revenue base whilst demonstrating a good level of cash-flow and profitability.
Alongside supporting growth and market expansion, Pride supports RUBICON in the carve-out of an internal start-up company. This strategic financing by Pride marks the start of an exciting journey, whereby RUBICON can fully focus on (in)organic growth in its core business.
Philipp Urbach (Head of DACH at Pride Capital Partners): "RUBICON is one of the pioneers in the European public ECM sector, with an impressive customer base and growth track record. We wanted to offer a flexible capital solution to meet the needs of RUBICON management and founders to become part of their exciting journey. We look forward to support RUBICON to grow throughout the DACH region with our extensive network and experience.”
Peter Grassnigg, founder and CEO of RUBICON, adds: “Pride Capital Partners is exactly the partner we were looking for to meet our current challenges. Both the financing solutions provided, and the fast processes convinced us. The direct contact with the management gave us the necessary confidence at an early stage. Together we are looking forward to further growth.”
The flexible capital solution from Pride Capital Partners will enable RUBICON to concentrate on it’s core competencies whilst at the same welcoming an experienced Investor, providing strategic know-how and an established network. By working with Pride Capital Partners, RUBICON will receive additional support in furthering growth plans within the DACH area, both organically as well as through strategic acquisitions.
Headquartered out of Vienna, RUBICON is one of the leading providers of ECM software for public institutions, with further offices in both Berlin and Bern and over 200 FTEs. Through the use of document management, workflow tools as well technology for internal as well as external communication, the company has positioned itself as a leader in digitalising and streamlining complex processes. A combination of market standard products and customisation allow RUBICON to serve governmental agencies’ administrative needs, covering entire back-end solutions from process management. In this way, clients can collaborate more easily in unison and have clear steps on internal workflow processes defined. The company also provides a comprehensive lost & found solution as well a template manager for the management of documents.
The customer groups include public institutions in Austria, Switzerland and Germany, as well as several private clients. Most notably, RUBICON has amongst others played an integral role in both the GEVER project for the Swiss government as well as in forming the police back-end solution for the Austrian ministry of internal affairs. In addition, close collaboration with Vienna Insurance Group has led to the joint development of template manager Document Partner. In Germany, the client list includes the likes of the Deutsche Bahn and the state parliament of Baden Württemberg. Overall, over 2200 municipalities are served across the DACH region.