K2, a Bellevue, Washington-based provider of business application software, received an over $100m investment from Francisco Partners.
The company will use the proceeds for marketing and product innovation efforts.
Led by Adriaan van Wyk, co-founder and CEO, and Olaf Wagner, SVP of Product Development, K2 provides software that allows customers to optimize their business processes and build and run their own business applications on premises and in the cloud.
It currently supports over one and a half million users across 1,400 customers in 80 countries. The list includes Fortune 500 companies Shell, Kimberly Clark, PPG, and Microsoft.
The transaction is expected to close during the first quarter of 2015.