Providence Strategic Growth Enters into a Definitive Agreement with Net Reviews
|11/12/2019 | 05:31am|
Aimed at Accelerating Expansion of Leading SaaS Developer for Customer Review Management
Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity Partners (“Providence”), today announced a €32 million growth investment in Net Reviews, a leading developer of software as a service (SaaS) solutions providing customer review management for retailers. The founding management team – led by Olivier Mouillet, Laurent Abisset and Tom Brami – will continue overseeing the company’s day-to-day operations.
Olivier Mouillet, Founder and CEO of Net Reviews, said: “In just a few years, Net Reviews has grown into a market-leading developer of software that provides a trustworthy and independent web solution, as well as critical data to retailers looking to better understand their customers’ needs and improve engagement. We are pleased to be partnering with Providence Strategic Growth who bring deep expertise supporting growth companies in the software sector. This investment is aimed at accelerating the expansion of Net Reviews across Europe and the Americas through a combination of organic growth and strategic acquisitions. We thank M Capital and Net Angels for their support of Net Reviews over the last few years.”
Founded in 2012 and headquartered in Marseille, Net Reviews develops software that enables retailers deploying pure-play e-commerce and omni-channel strategies to collect, display and analyse verified customer reviews. Core to its value proposition are offline review collection capabilities and the flagship subscription-only trust mark, Verified Reviews, which generates authentic feedback – improving SEO visibility and repeat sales – while promoting trust and confidence in participating retailers. Net Reviews has offices in the United States, Spain, Germany and Brazil, and is present in 44 other countries globally – with 90 employees serving over 6,000 clients in 17 languages.
Dany Rammal, Managing Director of Providence Strategic Growth, said: “The tremendous success of Net Reviews since it was founded is a testament to Olivier, Laurent and Tom and we are thrilled to be partnering with them to help drive the business further forward. With e-commerce and customer engagement continuing to be focus areas for retailers, Net Reviews provides an innovative and attractive business model that increases e-buyers’ trust while improving online retailer visibility and fostering sales growth. Through this partnership, Net Reviews will access the full resources of Providence Strategic Growth across the USA and Europe, enabling accelerated go to market and M&A activity. We are excited about the potential of Avis Vérifiés to continue expanding in Europe and beyond.”
About Providence Strategic Growth Capital Partners LLC
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston with offices in London and Kansas City. For more information on PSG, please visit www.provequity.com/private-equity/psg, and for more information on Providence, please visit www.provequity.com.
About Net Reviews
Net Reviews is a leading developer of software as a service (SaaS) solutions providing customer review management for retailers. Net Reviews trades as Verified Reviews in English-speaking markets, Avis Vérifiés in France, and Opiniones Verificadas in Spain and Latin America. The company’s flagship product authenticates customer reviews and enables businesses to collect critical information that helps them improve customer engagement, increase satisfaction and drive loyalty. Founded in 2012 and a market leader in France, Spain and Brazil, Net Reviews is headquartered in Marseille, with additional offices in the United States, Spain, Germany, and Brazil. Net Reviews was named by the Financial Times as one of Europe’s fastest growing companies in 2018. For more information, visit: www.avis-verifies.com.