Beringea UK sells investment in MatsSoft
August 7th 2017
The acquisition by NetCall will allow for an expansion of the company’s offerings to clients in the public and private sectors
(London, UK) Beringea has announced the acquisition of portfolio company MatsSoft – a ‘low-code’ company that enables brands like Vodafone, Nationwide, ITV and the Department for Education to build web and mobile applications with minimal coding.
Founded in 2008, MatsSoft has built up an impressive roster of clients, and was named one of “The 14 Providers that Matter Most” in Forrester’s first low-code Wave Report. The deal sees Netcall – a multichannel customer engagement solutions provider – acquire 100% of the equity in MatsSoft. The acquisition will allow Netcall to extend its offering to clients in the public and private sectors, as well as access the rapidly growing low-code market, which Forrester predicts will grow to over $21 billion in the next five years.
Beringea has supported the growth of MatsSoft over the last six years, investing over £2 million via its ProVen VCTs in 2011 and 2012. Today’s deal allows Beringea to realise its investment, delivering healthy returns for its investors.
Speaking of the deal, Rob Dagger, Investment Manager at Beringea said: “MatsSoft was one of the first providers in the now rapidly expanding low-code market. The impressive management team and flexibility of the MATS platform to support a wide range of business applications has allowed the company to secure big name clients across a range of industries. It’s been great to work alongside them and Beringea is delighted to have been able to support the growth of the company over the last six years.”
Netcall’s press release can be found below.
Netcall and Low-code software provider MatsSoft join forces to help organisations drive digital transformation
Hemel Hempstead, UK, 7 August 2017 – Netcall plc and MatsSoft Ltd, provider of the leading cloud Low-code platform, MATS®, has today announced that the companies have joined forces, with Netcall plc acquiring MatsSoft.
The enlarged company of more than 225 staff and 700 customers creates a new force in helping customers digitally transform their businesses and improve customer engagement.
The MATS Low-code software development platform enables rapid delivery of enterprise-grade business applications with a minimum of hard coding and upfront investments. This addresses the growing gap between the demand of organisations for business applications and the resources available to deliver these solutions.
Thereby the platform helps companies innovate faster and increase speed to market. Increasingly organisations use Low-code platforms to drive digital transformation, competitive differentiation as well as improve customer engagement.
MatsSoft is named one of “The 14 Providers That Matter Most” in the Low-code Wave published by Forrester Research. According to Forrester, companies report that their Low-code platforms helped them accelerate development by five to 10 times.
Since launching in 2008, MatsSoft has won a significant amount of backing from high profile analysts, customers, partners and investors. The company’s customers include Vodafone, HPE, Nationwide Building Society, ITV and The Department for Education to name a few. It also received funding from growth capital investor Beringea in 2011.
Henrik Bang, Netcall’s CEO, commented: “We are today taking a big step forward in delivering on our strategy of helping organisations improve customer engagement and are thrilled to have MatsSoft as a part of Netcall. We see a great opportunity in offering MATS capabilities to our customers across the public and private sectors, as well as expanding into new markets and growing MatsSoft’s international customer base.
“The acquisition will enhance our ability to deliver a unique and powerful set of capabilities and applications that will help our customers accelerate the transformation of their customer engagement. Furthermore, this acquisition increases our cloud presence and will give Netcall access to the fast growing Low-code market which, according to Forrester, is rapidly being adopted by organisations across the private and public markets.”
Martin Scovell, MatsSoft’s CEO, added: ‘’As recognised Low-code pioneers, MatsSoft has focused on developing a platform which helps people throughout an organisation make improvements and innovate faster. We have always recognised the strategic importance of customer engagement within transformation initiatives and the exciting combination of MatsSoft and Netcall will strengthen our combined proposition”.