Tech & Product DD | Series A | Code & Co. advises Kennet Partners on Provar
Location
London, England
Type
Series A
Engagement
Tech & Product DD
Sector
RPA & Low-/No-Code

Code & Co. advises Kennet on the $17M growth investment in Provar, the leading test automation platform for Salesforce worldwide.

Code & Co. advises Kennet on the Tech & Product Due Diligence of its investment assessing Provar’s product, technology, and engineering capabilities with a focus on the company's software design, architecture, cloud strategy, product roadmap, as well as the company’s machine learning-enabled data strategy.

London, England ,
  • Provar is the leading test automation platform for Salesforce worldwide.
  • Provar announced the closing of $17 million in Series A funding led with an investment from Kennet Partners.
  • Kennet is a leading international growth equity firm that invests in high-growth companies in Europe and North America.
  • Code & Co. advises Kennet on the Tech & Product Due Diligence of the transaction.

Provar, the leading test automation platform for Salesforce worldwide, announced the closing of $17 million in Series A funding led by an investment from Kennet Partners. This growth investment supports Provar’s ongoing mission to help teams capitalize on their Salesforce investment with a robust and scalable solution designed to improve release agility, drive down system errors and advance innovation.

As part of this investment for expansion, Michael Elias, managing director and founder of Kennet Partners, will join the Provar board of directors: “At Kennet, we focus on bootstrapped B2B SaaS companies with a strong and satisfied customer base. In addition to fitting these criteria, Provar has a culture of integrity and customer focus that makes them especially appealing. The demand for software-driven automation has increased dramatically as part of the broader digital transformation that is being accelerated by the Covid-19 pandemic and our funding will allow Provar to continue to scale and innovate.”

Kennet is a leading international growth equity firm that invests in high-growth companies in Europe and North America. With offices in London and Silicon Valley, the firm supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $1 billion of cumulative funds under management.

Code & Co. advised Kennet on the Tech & Product Due Diligence of its investment – the third Tech & Product Due Diligence project completed for Kennet in Q4 2020.

Code & Co. assessed Provar’s product, technology, and engineering capabilities with a focus on the company's software design, architecture, cloud strategy, product roadmap, and the company’s machine learning-enabled data strategy.

This transaction exemplifies Code & Co.'s position as an established technology and product advisor on growth equity mandates to clients across Europe.

About

Code & Co. is an independent advisory firm specialized in advising funds in the global alternative investment industry. Our expertise is modern and holistic technology and product due diligence. From outside-in audits and confirmatory due diligence to portfolio audits, exit preparation, and vendor due diligence, we provide our clients with crucial insight across the entire investment life cycle.