Technology

K1 Completes Strategic Exit of GoCanvas to Nemetschek Group

Published

6 months ago

July 3, 2024

K1 Achieves $1.7B in Liquidity Since December 2023

MANHATTAN BEACH, Calif., July 3, 2024 /PRNewswire/ — K1 Investment Management (“K1”), one of the largest small-cap enterprise software investment firms, yesterday completed the sale of its portfolio company GoCanvas®. GoCanvas, a leading field worker collaboration software provider, was acquired by Nemetschek Group (FRA: NEM), a leading global provider of software solutions for the architecture, engineering, construction, operations (AEC/O) and media industries.

With this realization, K1 has generated a record $1.7B in proceeds from 9 distribution events over the past seven months

Following K1’s acquisition of GoCanvas in 2019, the company made substantial investments to drive customer-focused innovation and propel its growth trajectory, and revenue grew by close to 4x. During the partnership, K1 facilitated the strategic add-on acquisitions of DeviceMagic and SiteDocs, further enhancing GoCanvas’s market presence and product offerings, and solidifying its position as a category leader in field worker collaboration software. With strong annual recurring revenue (ARR) growth of approximately 20% in recent years, GoCanvas generated an ARR of USD $67 million in 2023.

The sale, which represents a milestone for both K1 and GoCanvas, culminates in an all-cash deal valued with an acquisition multiple of approximately 11.5x 2023 ARR. K1’s initial investment of over $100 million came from its fourth fund, K4, raised in 2018.

Sujit Banerjee, Managing Director at K1 Operations, commented on the strategic exit, emphasizing the pivotal role of management in GoCanvas’s success. “The sale of GoCanvas marks yet another highlight in K1’s ongoing commitment to building category leading enterprise software companies. We are proud to have partnered with Viyas Sundaram and the entire management team, whose dedication and leadership have been instrumental in GoCanvas’s transformation into a market leader.”

Viyas Sundaram, CEO of GoCanvas, expressed gratitude for K1’s support and guidance throughout the partnership. “I joined GoCanvas because I believed in K1’s strategic insights and operational expertise. Their unwavering commitment to our vision has been instrumental in our growth and success. Today is a testament to the power of the partnership between the entire GoCanvas team and K1. Together with Nemetschek, we are well-positioned to realize the potential of the platform we’ve built and embrace the opportunities ahead as we enter this next phase of expansion.”

The transaction highlights K1’s strategic vision and value creation initiatives during a period marked by heightened demand for private equity distributions. With this realization, K1 has generated a record $1.7B in proceeds from nine distribution events over the past seven months.

Headquartered in Manhattan Beach, California, K1 is committed to building category leading enterprise software companies that transform industries and drive productivity. Some examples include Apttus (sold to Thoma Bravo), Buildium (sold to RealPage, NASDAQ: RP), Certent (sold to insightsoftware), Checkmarx (sold to Insight Partners and Hellman & Friedman), Clarizen (sold to Planview), FMG Suite (sold to Aurora Capital Partners), GoCanvas (sold to Nemetschek Group, FRA: NEM), Granicus (sold to Vista Equity Partners and Harvest Partners), Inthinc (sold to Orbcomm, NASDAQ: ORBC), Litera (sold to Hg Capital), Rave Mobile Safety (sold to TCV; now owned by Motorola Solutions, NYSE: MSI), TeamDynamix (sold to Level Equity), Unified (now owned by iHeartMedia), Workforce Software (sold to Insight Partners), and Zapproved (sold to Exterro).

Moelis & Company LLC served as the exclusive financial advisor to GoCanvas. Kirkland & Ellis LLP and Morris, Manning & Martin, LLP served as legal advisors.

About K1

K1 is one of the largest small-cap investment firms building category leaders in enterprise software. With a mission to change industry landscapes, K1 partners with strong management teams of high-growth software businesses, utilizing operationally focused growth strategies to rapidly scale portfolio companies. Since its inception, K1 has collaborated with over 240 enterprise software companies. K1’s exclusive focus, driven by its single team, single office, and single fund strategy, has led to realizations for many of its portfolio companies.

For more information, visit k1.com and follow K1 Investment Management on LinkedIn.

About GoCanvas

GoCanvas simplifies business automation, replacing outdated processes and paperwork with a mobile platform. Compatible with smartphones and tablets, it enables seamless information collection and sharing across organizations, offering real-time business insights. Customizable for any business, GoCanvas empowers workforces, enhances data value, and improves colleague connections and customer engagement.

About the Nemetschek Group

The Nemetschek Group is a globally leading provider of software for digital transformation in the AEC/O and media industries. Its intelligent software solutions cover the entire life cycle of construction and infrastructure projects and allow creatives to optimize their workflows. Customers can plan, construct, and manage buildings and infrastructure more efficiently and sustainably, and develop digital content such as visualizations, films, and computer games in a creative way. The software company drives new technologies and approaches such as artificial intelligence, digital twins, and open standards (OPEN BIM) in the AEC/O industries to increase productivity and sustainability. We are continuously expanding our portfolio, including through investments in disruptive start-ups. More than 7 million users are currently designing the world with the customer-focused solutions of our four segments. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs more than 3,400 experts.

View original content to download multimedia:https://www.prnewswire.com/news-releases/k1-completes-strategic-exit-of-gocanvas-to-nemetschek-group-302189148.html

SOURCE K1 Investment Management

Technology

ResumeTemplates.com Survey Reveals 3 in 10 Gen Zers Believe CEOs Are Evil; Many Support Release of Mangione

Published

24 minutes ago

December 27, 2024

The majority of Gen Zers feel CEOs wield excessive power, with some expressing extreme views about corporate accountability

SEATTLE, Dec. 27, 2024 /PRNewswire-PRWeb/ — ResumeTemplates.com, the leading platform for professional resume templates and career advice, has released findings from a recent survey revealing critical attitudes among Gen Z toward corporate leaders. Conducted in December 2024, the survey of 1,200 U.S.-based Gen Zers highlights the sentiment that CEOs hold excessive power and are overcompensated, with some respondents expressing extreme views about corporate accountability.

According to the survey, more than half of Gen Zers (55%) believe CEOs wield excessive power in society, particularly influencing elections, the economy, and policymaking. Additionally, 59% of respondents believe CEOs are overpaid, with most saying total annual compensation should not exceed $750,000. Only 7% of respondents support unlimited earning potential for CEOs. The survey also found that 39% of Gen Zers believe all levels of a workforce equally contribute to a company’s success, while only 20% think CEOs create the most value within an organization.

The survey also explored Gen Z’s perceptions of corporate leadership. More than half believe CEOs are responsible for driving corporate greed, and 30% of respondents view CEOs as “evil,” reflecting deep skepticism toward corporate leadership.

Additionally, the survey examined opinions on high-profile cases like Brian Thompson’s killing. Among respondents, 21% agreed that “CEOs deserve to lose their lives for their professional actions,” including 7% who strongly agreed. When asked specifically about Brian Thompson’s killing, 22% of respondents believe he definitely (10%) or probably (12%) deserved what happened to him. Regarding Luigi Mangione, Thompson’s accused killer, 21% supported his release, while 51% opposed it.

This survey, conducted December 18, 2024, via Pollfish, gathered responses from 1,200 U.S.-based 18 to 27 year olds. The full report can be viewed here: https://www.resumetemplates.com/3-in-10-gen-zers-say-ceos-are-evil-many-believe-mangione-should-go-free/

ABOUT RESUMETEMPLATES.COM
ResumeTemplates.com offers a comprehensive selection of free, industry-specific resume templates, tailored to meet the needs of various job seekers. The website also provides extensive resources to help facilitate the job application process, including expert advice, resume examples, and tips and tricks for creating impactful resumes. For more information, please visit: https://www.resumetemplates.com/.

Media Contact

Abigail Davis, ResumeTemplates, 000-0000, abigail@resumetemplates.com

View original content:https://www.prweb.com/releases/resumetemplatescom-survey-reveals-3-in-10-gen-zers-believe-ceos-are-evil-many-support-release-of-mangione-302338434.html

SOURCE ResumeTemplates

Technology

Founder Shares Unforgettable Lessons After Spending $1 Million on a Domain Name

Published

24 minutes ago

December 27, 2024

ATLANTA, Dec. 27, 2024 /PRNewswire/ — VPN.com CEO Michael Gargiulo recently shared invaluable insights with Entrepreneur on the unforgettable lessons he learned while spending $1 million to acquire the premium domain VPN.com.

Gargiulo’s journey to acquiring VPN.com wasn’t just about landing a high-value web address. In the Entrepreneur.com article titled “5 Unforgettable Lessons I Learned Spending $1 Million on a Domain Name”, Gargiulo emphasizes the long-term value a premium domain brings to brand trust, visibility, and scalability.

Investing in a Domain: More Than Just a Name

Gargiulo’s $1 million purchase of VPN.com was more than a simple transaction—it was an investment in the future of his business and the value of owning a recognizable, exact-match domain. “The right domain can change everything for a brand. It immediately creates trust and credibility with customers, and it sets your company apart from the competition,” said Gargiulo.

In the article, he shares five critical lessons learned during his experience, including the importance of patience, timing, and the negotiating power of a premium domain. “A domain isn’t just a digital asset—it’s a business strategy. Acquiring VPN.com helped us stand out in the crowded cybersecurity market and continues to drive our success.”

Brand Trust and Global Recognition

Since acquiring VPN.com, Gargiulo has expanded his company’s mission to help hundreds of millions of people secure a private internet experience. The premium domain has played a pivotal role in building trust with customers, partners, and investors. “A premium domain acts as an instant signal of authority,” Gargiulo noted. “It makes a lasting impression, and in today’s fast-moving digital world, that’s invaluable.”

A Vision for the Future

Gargiulo’s vision for VPN.com extends beyond the domain. With a mission to provide a secure internet experience for one billion people by 2030, VPN.com is at the forefront of internet privacy, security, and premium domain brokerage. Gargiulo’s experience acquiring VPN.com has equipped him with unique insights into the premium domain marketplace, helping businesses recognize the value of digital branding in today’s world.

Read More About Michael Gargiulo’s Insights

To read Gargiulo’s full breakdown of the lessons learned from his $1 million domain purchase, visit the Entrepreneur article here.

In addition, Gargiulo also contributed to the Entrepreneur article “Getting a Divorce With a Six-Figure Domain Portfolio”, where he shares insights on the unique challenges of managing and valuing a high-profile domain portfolio in complex personal and financial situations.

For media inquiries or interviews, please contact:

Michael Gargiulo
855-VPN-FAST
388102@email4pr.com

Visit: vpn.com for more information.

About VPN.com
VPN.com is a global leader in internet security and premium domain brokerage, dedicated to helping entrepreneurs, businesses, and individuals protect their brands and secure their online presence. With a $1 million domain name and a mission to serve one billion people by 2030, VPN.com is at the cutting edge of internet privacy, security, and digital branding.

Learn more about VPN.com’s work:

Michael Gargiulo Shares Insider Secrets on Premium Domain Valuation How to Acquire a Premium Domain Via Stealth Acquisition VPN.com Renews Commitment to Freedom, Digital Liberties, and Brand Protection

For more insights on digital brand protection and domain name acquisition, visit: vpn.com/domains.

View original content:https://www.prnewswire.com/news-releases/founder-shares-unforgettable-lessons-after-spending-1-million-on-a-domain-name-302339666.html

SOURCE VPN.com

Technology

OCR Canada Rebrands to Levata

Published

1 hour ago

December 27, 2024

TORONTO, Dec. 27, 2024 /CNW/ — OCR Canada Ltd., Canada’s leading solutions provider of automated identification data capture (AIDC) products, software, and services for businesses across industries and government organizations, is pleased to announce its rebrand to Levata as of January 1, 2025. This transition unites Canada’s operations with Levata’s global identity, streamlining the company’s messaging while honoring OCR Canada’s more than 40-year legacy of trusted service and expertise.

The name OCR, which originally stood for Optical Character Recognition, reflects a technology that no longer represents the company’s comprehensive offerings. Rebranding to Levata supports the broader strategic vision of uniting Levata across markets under one multinational brand to better communicate the full value Levata delivers to its customers.

“This rebrand is an exciting milestone for Canada,” said Tony Mastrangeli, Executive Vice President & GM of Canada. “While our name is changing, the exceptional service, expertise, and relationships our customers rely on remain the same. Levata will continue to empower businesses with tailored solutions, just as OCR Canada has for more than 40 years.”

The transition follows a successful history of growth in Canada, with OCR Canada joining Levata in 2014. Since then, the Canadian arm has expanded its expertise through strategic acquisitions and established itself as a leading provider of AIDC solutions across industries.

“This rebrand marks the next step in Levata’s long-term vision,” said Dan Nettesheim, CEO of Levata. “By uniting under a single, global identity, we are amplifying our global message that we enable our customers to elevate their potential. Today, we provide solutions beyond OCR and barcoding, we also offer leading technology and services for enterprise mobility, RFID, networking, IT infrastructure, and more to help customers succeed in a competitive and rapidly evolving market.”

To complement this transformation, Levata Canada will launch a French-enabled eCommerce platform in January 2025, further enhancing customer access and experience.

For more information about the rebranding, visit www.Levata.com/en-ca/news/ocr-canada-rebrands-to-levata.

About Levata
Levata enables customers to elevate their potential by providing strategies, solutions, and services that power modern environments. With a broad suite of technology products to enable enterprise mobility, a digital supply chain, a secure workplace, and an elevated customer experience, and the services to move businesses forward, Levata unlocks the power of thousands of organizations worldwide. Levata has operated as a market leader in full-stack technology solutions for over 40 years. Learn more at www.levata.com.

Alana Tufford, Director, Enterprise Marketing
Levata
905-475-5505 x242
branding@levata.com

SOURCE Levata