The Savoy-based publisher of an online solution for managing freelancer is opening up its capital to iXO Private Equity, which is leading a round of financing of almost €6m
Founded in 2015, Addworking had only raised around €1.5m through two rounds of funding. The publisher of a platform for managing freelancerhas now raised nearly €6m, following a process led by Cambon Partners. It is iXO Private Equity, a fund based in Toulouse, Marseille, Bordeaux and Lyon (see below), which takes the lead in this new operation, by investing a ticket of €2.9M in the Savoyard company, managed by Julien Pérona and Charles Liénart. Edenred Capital Partners, present since the seed round in 2017, as well as the Seed4Soft entrepreneurs’ club and Club Holnest, launched by Holnest, Jean-Michel Aulas’ FO, complete the operation. The latter would also include a bit of secondary, with the purchase of some business angels.
Annual growth to double
As a reminder, Addworking has built up experience in connecting companies with subcontractors, service providers and freelancers. The platform, sold on a Saas model, aims to facilitate the creation and distribution of job offers in various sectors such as construction, transport, logistics, IT services and industry. It also handles the management and publication of contracts and the processing of invoices. The Savoy-based publisher, which is keeping quiet about the new features that should enrich its solution, claims nearly 2,500 customers, including mainly SMEs and large groups. Addworking is not very forthcoming about its turnover, but it has doubled its annual growth in recent years. With a staff of nearly 25, the company is expected to double its workforce by the end of the year.
The stakeholders in the ADDWORKING transaction
Target company : ADDWORKING
Buyer or Investor: IXO PRIVATE EQUITY, Nicolas Iordanov , EDENRED CAPITAL PARTNERS, SEED4SOFT, CLUB HOLNEST
Buyers’ Corporate lawyer: VIGUIE SCHMIDT & ASSOCIES (EX SLVF), Louis Chenard
Company Investment Banker / M&A Advisor: CAMBON PARTNERS, Romain Dehaussy , Robin Beaudot
Corporate Law Firm: JOFFE & ASSOCIES, Virginie Belle, Antoine Lamy