TMCnet News
Beamer and Userflow Join Forces in Strategic Acquisition Valued at More than $60MCamber Partners portfolio company completes first acquisition since July 2023 Series A, sets sights on becoming market-leading product adoption platform SAN FRANCISCO, Feb. 7, 2024 /PRNewswire/ -- In a strategic move that marks a significant milestone in the Product Management landscape, Beamer has announced the acquisition of Userflow in a deal valued at more than $60 million. This acquisition reinforces both companies' positions as leading providers of no-code product adoption and engagement platforms and expands the combined company's capabilities by offering a consolidated toolkit for Product teams across the world. Beamer completed the acquisition with financial support from Camber Partners, the company's lead investor, as well as Arsenal Growth Equity.
Beamer is a leading platform for customers looking to build better products and improve user engagement. The company's Changelog, NPS, and Feedback products serve as intuitive tools that facilitate better communication and feedback between businesses and their end-users, ultimately helping to increase engagement and reduce churn. Satya Ganni, CEO of Beamer, expressed his excitement about the acquisition, "We are thrilled to welcome Userflow to the Beamer team. The talent and innovation that Sebastian and Esben have displayed in building Userflow is tremendous, and their no-code builder for in-app onboarding experiences complements Beamer's mission to help companies build better products. We are also deeply grateful for the support and partnership from Camber Partners and Arsenal Growth, who have been instrumental in this journey." Userflow, based in San Francisco, CA, has distinguished itself in the SaaS world with its innovative no-code builder, enabling businesses to be mor product-led. Founded in 2019 by Sebastian Seilund and Esben Friis-Jensen, Userflow has garnered attention from the global SaaS community as a bootstrapper's success story, having reached significant scale without any external funding, and doing so through implementing product-led growth (PLG) best practices. Sebastian Seilund, Co-founder and CEO of Userflow, shared his enthusiasm, "This is a proud moment for us at Userflow after embarking on this journey in 2019. Joining forces with Beamer and aligning with Camber's vision opens up brand-new and exciting opportunities for our customers. We're impressed with Beamer's comprehensive toolkit and excited about the combined potential to serve our global customer base even better." Esben Friis-Jensen, Co-founder and CGO of Userflow, reflected on the journey, "Starting as a bootstrapped endeavor, our journey at Userflow has been incredibly rewarding. We're pleased with this outcome and eagerly look forward to contributing to the combined company's vision, enhancing the prospects of successful product-led growth for SaaS businesses worldwide." Camber's original July 2023 investment in Beamer was a result of the growth equity firm's Executive-in-Residence ('XIR') program, an approach where Camber identifies and partners with exceptional operating executives to invest in or acquire high-potential product-led growth (PLG) software companies. Ganni, an experienced operator in the space with three successful exits, was the firm's first XIR and will now lead the combined company through this next chapter of growth. Justin Johnson, Vice President at Camber Partners, commented on the acquisition, "We've been deeply impressed by both companies' ability to develop such outstanding platforms with lean teams and no historical funding– a testament to the potential of a product-led growth distribution model. Userflow's dedication to building great products that customers adore perfectly aligns with Beamer's mission, and we're eager to see what the future holds for the combined company." The acquisition of Userflow is timely, as many analysts have proclaimed that we are in a Golden Age of Product Management. The accelerated pace of technology development and adoption, the increase in digital transformation initiatives, consumer-like expectations for software products, and data-driven decision-making are all key trends that have resulted in the rise of the Product function, as well as the demand for best-in-class software tools that serve these teams' needs. The market for DAP Platforms and Product Management suites are forecasted to grow to a combined $29 billion by 2030 according to Gartner and Growth Market Reports. About Beamer: About Userflow: About Camber Partners: About Arsenal Growth Equity: Media Contact: Camber Press, [email protected]
SOURCE Camber Partners 
|
View original content to download multimedia: