Pride Capital Partners finances further growth of Kendox AG

Kendox has received a loan from Pride Capital Partners to further drive sales of its cloud solution. Kendox is a software company focused on mid-market customers looking for a GDPR-compliant archiving solution who want to digitize their office and administrative processes. Kendox’s software is used by customers in various industries in Germany, Switzerland and Austria to store electronic files in an audit-proof manner and to be able to retrieve them regardless of location and integrate them into diverse business processes.

Kendox is a leading provider of Document Management Software

Kendox was founded over 15 years ago by several DMS (Document Management Software) experts and currently employs over 60 people in Germany, Austria and Switzerland. The company’s headquarters are located in Oberriet, Switzerland. More than 900 companies use software solutions from Kendox; about 10% of them in the cloud.

Kendox supports its customers in the introduction of digital document and information processes. Since 2004, the Swiss software company has been developing modern, flexible and user-friendly standard software solutions for document and business process management, compliant archiving, scanning, incoming mail processing, procurement process automation, e-mail compliance and digital files.

Kendox customers include global logistics companies, public institutions and manufacturing companies. Kendox maintains partnerships with numerous on-prem and cloud system integrators and works, for example, with certified SAP Business ByDesign implementation partners to complement cloud ERP with document-based cloud solutions.

Kendox operates a virtual data center with physical locations in Germany and Switzerland and can therefore offer customers not only high security but also flexibility and full transparency in the operation of cloud solutions. With the new Microsoft 365 integration solution, Kendox also offers users with a Microsoft strategy the possibility to implement end-to-end total solutions.

By moving the offered products to the cloud, Kendox is making its products available to smaller and medium-sized companies even easier. Pride Capital Partners will work with Kendox to further expand the cloud segment, which has already been growing dynamically for several years, and scale the business model to further support and accelerate growth in the coming years.

Financing the growth strategy

The loan from Pride Capital Partners will enable Kendox to continue its ambitious expansion strategy without diluting its current shareholder structure. Their cloud presence will be further strengthened and expanded internationally. The shift of the business model towards SaaS-based offerings and revenues is key in the strategy for the next years.

Manfred Terzer, co-founder and CEO of Kendox: “The issue of financing was essential for us as a previously exclusively privately financed company, as we want to promote the dynamic development of our cloud solution offerings. Pride Capital Partners convinced us with their partnership concept, but above all also with great IT industry expertise. Together, we will break new ground, but also secure the tried and tested even better. We are looking forward to our future cooperation.”

Lars van ‘t Hoenderdaal (managing partner Pride Capital Partners): “Kendox is well established in the DACH region as a GDPR-compliant DMS provider. This is also demonstrated by the long-standing customer relationships with global market leaders and companies in the German SME sector. Together with Kendox, we want to drive forward the marketing of the cloud software products. The Kendox Cloud Eco segment has already seen high growth in recent years. We want to continue on this path together with Kendox and further scale the business model. Our product and our strategic network are a perfect fit for the ambitions of Kendox.”

About Pride Capital Partners

Pride Capital Partners is a specialized private debt company supporting profitable and growing businesses in the Software and IT industry. Typical scenarios are growth, acquisitions and management buy-out (MBO) transactions. The geographical focus is on Benelux and DACH-region companies. Pride Capital Partners has offices in Amsterdam and Cologne.

The funding of Pride Capital Partners is provided by its own shareholders, institutional investors, wealthy individuals, family offices and (ex-)entrepreneurs. The portfolio includes amongst others Arcus IT, Spotzer, Fairbanks, BTC, Bright River, Bluefield, Netaxis and German companies eKomi and Link11.

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