Rodeo Secures Strategic Growth Investment from PSG
PSG’s investment seeks to create a leading cloud software suite of core workflow solutions for creative services companies
AMSTERDAM - Rodeo (the “Company”), a leading cloud-native project management software provider with a focus on creative services companies, today announced it has secured a significant strategic growth investment from PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies to help accelerate their growth.
Rodeo offers an all-in-one project management software that optimizes the workflows of creative services companies by harmonizing planning, administration and reporting processes. The Company’s solution covers the entire project lifecycle, seamlessly connecting each step of the process from the budget to estimate, planning, time-tracking, invoicing and reporting.
Rodeo achieved strong product-market fit through an easy-to-use product with an intuitive user interface that is built around the workflows of creative services companies. The Company’s comprehensive project management software tools help customers manage their day-to-day project work and gain greater transparency into project-level profitability.
Rodeo combines a strong organic ARR growth profile with SaaS KPIs among the best-in-class. The Company serves a significant customer base including marketing and advertising agencies, design and architecture firms, media companies and other creative organizations across The Netherlands, US, Germany and UK. Rodeo was founded in 2016 in Amsterdam by CEO Pieter Vos, and today has a presence in the US with offices in New York and Atlanta. In May 2022, Rodeo was chosen as the Best Performing SaaS Company of 2022 by MT/Sprout as part of the publication’s list of the hundred best performing SaaS companies in the Netherlands.
Following the transaction, Rodeo will continue to be led by its existing management team and will work in partnership with PSG and existing investors in seeking to accelerate its growth through increased GTM investment and geographical expansion. PSG will also support Rodeo in implementing a focused buy-and-build strategy to acquire additional products that support the core workflows of creative services companies to create a comprehensive cloud suite of software solutions.
Pieter Vos, Founder and CEO of Rodeo, said, “We believe that we have found an excellent partner in PSG based on the firm’s significant experience in supporting founder-led software companies seeking to build category leaders. We are looking forward to working with the team at PSG to identify and execute on new opportunities to further accelerate our growth organically and through M&A.”
“We are delighted to be partnering with Pieter and the team at Rodeo as we look to build on the company’s position as a market leader in project management software for the creative services vertical,” added Christian Stein, Managing Director at PSG. “We believe that Rodeo is well-positioned to benefit from the growing adoption of project management software tools and has the potential to become the leading cloud software champion for the creative services sector.”
Reinder Lubbers, Managing Founder of No Such Ventures, said, “As lead investor of the previous funding round, we can only congratulate CEO Pieter and his colleagues on their continued stellar performance. This has resulted in Rodeo’s partnership with PSG, a high-quality and value-adding investor, who we warmly welcome to Rodeo’s cap table.”
The financial terms of the transaction are not disclosed.
Notes to Editors
Founded in 2016, Rodeo is a Dutch SaaS software company that offers an all-in-one project management software with a focus on creative services customers. Rodeo’s solution enables customers to optimize their workflows by harmonizing planning, administration and reporting processes. The Company serves a significant customer base in The Netherlands, US, Germany and UK. https://www.getrodeo.io/
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 110 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.
About No Such Ventures
No Such Ventures is a disruptor in the venture capital landscape, offering equity investments and flexible deal structures on a tailored, per-deal basis. Backed by an engaged and growing network of >100 investors, mainly consisting of entrepreneurs and industry experts, No Such Ventures looks to invest €2m to €8m in ambitious growth companies, globally and across sectors. Founded in 2018, headquartered in Amsterdam. www.nosuchventures.com