The global professional services automation (PSA) software sector continues to expand rapidly, driven by an increasing need for unified PSA solutions and the acceleration of PSA into adjacent ERP verticals including HCM and finance. This expansion is driving strong double-digit market growth and a global market opportunity in excess of $15bn by 2024.
Despite this backdrop, the PSA software market remains fragmented with a handful of larger players built on legacy platforms and delivering solutions primarily designed and reliant on other ERP verticals. In that context, a real opportunity has opened up in recent years for focused, best-in-class pure-play PSA SaaS solution providers.
We had closely tracked Kimble since their early days and continued to do so as they grew into one of the leading businesses in the sector. When the time came to seek an investment partner to help them accelerate their international growth, we were the natural firm for them to choose, both for our understanding of their business and our established network of relationships across Europe and North America.
We worked closely with Kimble from the outset, focusing in particular on helping to articulate the business and market opportunity as well as identifying the key partners who could help them deliver on their ambition. We were responsible for managing and orchestrating all aspects of the transaction, dealing with potential partners from multiple jurisdictions in a highly competitive process to ultimately deliver a deal that exceeded the expectations of our client and secured an outstanding outcome for both the existing investors and the management team who retain a significant stake in the business.
Kimble is a sector leading, multi-award-winning professional services automation software company. Its fully integrated and adaptive SaaS solution built on the Salesforce platform enables professional services firms to manage their businesses, delivering efficiency, scalability and forward visibility.
Headquartered in the UK, the business has grown rapidly both into Europe and North America in recent years and serves hundreds of clients globally out of UK and US offices with deep, embedded and growing blue chip client relationships. The business consistently ranks as a best-in-class PSA SaaS solution, built on holistic and scalable infrastructure with a sector-defining track record of product innovation.
Headquartered in Menlo Park California, Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. With deep experience of B2B software and a proven history in helping European businesses accelerate growth into North America, Accel-KKR will be the perfect partner for the next stage of Kimble’s development.