Syncron, a Stockholm, Sweden-based provider of cloud-based after-sales service solutions for manufacturers, received a $67m minority investment.
Global growth equity firm Summit Partners made the investment.
The partnership with will support the company’s continued development of its enterprise SaaS solutions and further expansion of its global operations.
Led by Anders Grudén, CEO, Syncron provides manufacturers with a SaaS platform to optimize the performance of the after-sales service supply chain and enable global manufacturers to evolve to subscription-based uptime service models.
The Syncron Service Cloud applies machine learning to multi-echelon logistics and IoT data designed to deliver predictive insights and drive enhanced customer experiences, efficiency and brand loyalty.
The company, which serves such manufacturers as Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota, has more than 330 employees across 10 global offices.
In conjunction with the funding, Antony Clavel, a Principal at Summit Partners, and Han Sikkens, a Managing Director with Summit Partners, will join the Syncron Board of Directors.