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Accel-KKR invests in NZ software firm

Silicon Valley private equity firm Accel-KKR has closed a “growth equity investment” in New Zealand software developer Seequent, which will welcome Accel-KKR managing director, Dean Jacobson, co-founder Tom Barnds and vice-president Andy Rich to its board.
Accel-KKR invests in NZ software firm Accel-KKR invests in NZ software firm Accel-KKR invests in NZ software firm Accel-KKR invests in NZ software firm Accel-KKR invests in NZ software firm

Seequent CEO Shaun Maloney: Accel-KKR as 'a great fit'

Staff reporter

Terms of the investment were not disclosed. Accel-KKR has US$4 billion of funds under management and says it has invested in more than 100 companies since its 2000 start-up.

Seequent supplies geology modelling and management software to the mining, civil engineering, geothermal energy and environmental services industries. It has 13 offices and says its technology is used in more than 90 countries. Its flagship product is its Leapfrog 3D geological modelling software.

Seequent CEO Shaun Maloney described Accel-KKR as "a great fit" and an investor that "wholeheartedly support our growth plan and the direction of the business".

"We'll continue our focus on mining and minerals, energy, and more recently the civil and environmental engineering sectors," Maloney said.

"Accel-KKR will bring very valuable business expertise and networks into new global markets, which will be particularly valuable for our newly launched Leapfrog Works for the civil and environmental sectors which represent an enormous opportunity."

Menlo Park, California based Accel-KKR says Seequent "has a well-deserved reputation as a world-leading innovator in visual data science and has carved out some fantastic markets for its implicit modelling solutions and other collaboration technologies".

"We're excited about the opportunity to work alongside the management team and board and look forward to investing in new innovation and markets to help Seequent build significant value," Jacobson said.