New Delhi: In a strategic move to support European B2B software-as-a-service (SaaS) companies, Oxx has successfully raised a substantial $190 million for its investment.
The company mainly focuses on scale-up stage businesses with strong fundamentals that can generate sustainable and consistent growth. As per Richard Anton, co-founder and general partner at Oxx.
“In this challenging market, we are thrilled to have raised a fund that comfortably enables us to action this strategy in supporting promising European scaleups during the next stage of their growth journeys,” Anton said.
The European market is witnessing heightened digitization, talent mobility, and technical education clusters to present a favorable environment for SaaS providers.
According to the report Oxx aims to offer growth capital and support to SaaS scale-ups as they navigate the challenges of experimentation, adaptation, and finding product-market fit.
The investment firm’s proactive approach involves actively participating in the success of their portfolio companies. By sharing knowledge and providing access to a network of specialized advisors.
“Ultimately it also makes us uniquely placed to identify key investment opportunities and shepherd them to success as the European SaaS scene is entering a new era,” Johnsson said.
Earlier this year, Oxx’s recent investment in CyberSmart, leading to a $15 million Series B round, represents their commitment to promote growth. CyberSmart, a cybersecurity solutions provider for small and medium-sized businesses, plans to use the capital to expand internationally and to improve its cyber insurance offerings.