Seattle, WA, 19 Feb 2015
K2, an industry leader in business application platforms and solutions, today announced it has agreed to accept a strategic investment from Francisco Partners, a leading global private equity firm focused on the technology sector, to support investment in K2's go-to-market initiatives and product innovation. The funding will enable K2 to further its vision of empowering its customers to optimise their business processes and seamlessly build and run their own unique business applications on premises and in the cloud. The transaction is expected to close during the first quarter of 2015.
"This investment marks a significant milestone for K2 and is a validation of our success and growth as we enter the era of Build Your Own Applications (BYOA)," said Adriaan van Wyk, co-founder and CEO of K2. "BYOA is led by a new generation of end users who are increasingly self-sufficient and entrepreneurial around the technologies they use to solve business problems. We are pleased to have Francisco Partners on our team to help us fully capitalise on the significant opportunity for K2 in a BYOA world."
Headquartered in Bellevue, Washington, K2 was founded by CEO Adriaan van Wyk and SVP of Product Development Olaf Wagner and today supports over one and a half million users across 1,400 customers in 80 countries. K2's growing customer list includes Fortune 500 companies Shell, Kimberly Clark, PPG, and Microsoft. K2 was recently named by Puget Sound Business Journal as one of the top cloud computing companies in 2015.
"K2 has solidly positioned itself as an innovator in providing market leading low-code/no-code solutions for rapid development and deployment of business applications across all devices," said Brian Decker, Principal at Francisco Partners. "We are thrilled to be working with the K2 team to extend this leadership position and expand their roster of happy customers."
"The proliferation of mobile devices and rise of cloud applications has raised the bar for IT departments globally. K2 is helping leading enterprises worldwide rise to this challenge by enabling seamless application development," said David Golob, Partner at Francisco Partners. "Adriaan and the K2 management team have innovated relentlessly, and we look forward to partnering with them in the next phase of the Company's growth."
Jefferies LLC is serving as exclusive financial advisor to K2 in connection with the transaction, and Sheppard, Mullin, Richter & Hampton LLP is serving as legal advisor.
For more information, please visit www.k2.com
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