Euro SaaS Startups Would Be Idiots Not To Know Notion Capital After $150M Fund Raise
July 23, 2015
Grazed from TechCrunch. Author: Mike Butcher.
The scale of the opportunity in Cloud computing and SaaS was underlined today with the news that Notion Capital has closed its third fund with a first round of $120m, with a final close of $150m expected. Funds under management will therefore be over $300m. Partners and brothers Ben and Jos White formed Notion in 2008 after selling MessageLabs to Symantec for $700m, one of Europe’s largest B2B SaaS exits. But what is key to note here is the scale of opportunity for European enterprise startups.
For starters, the news makes Notion the biggest dedicated B2B SaaS fund in Europe with 33 investments including Tradeshift, NewVoiceMedia, CurrencyCloud, DueDil, AdBrain and Trustev. It’s already had European exits such as Shutl, to Ebay and Star, to Claranet. Its portfolio also includes many of hottest SaaS companies in Europe right now, including Adbrain, Brightpearl, Currency Cloud, Duedil, IOCS and MOVE Guides…
It’s clear what is at stake here. The global public cloud market size is around $150bn, 17% CAGR (Gartner). SaaS hit $23bn in 2013 out of $134bn spent on Enterprise Applications (IDC), and Saas predicted to be $51bn by 2018 (IDC). There is a huge move to the cloud and it’s barely begun…
Read more from the source @ http://techcrunch.com/2015/07/23/saas-startups-would-be-idiots-not-to-know-notion-capital-after-150m-fund-raise/