Accel-KKR backs New Zealand's Seequent
Accel-KKR, a US-based private equity firm created by Accel Partners and KKR, has made a growth-stage investment of undisclosed size in New Zealand data visualization software provider Seequent.
Founded as Aranz Geo in 2003, Seequent specializes in systems that allow raw data to be projected in visual displays that allow corporate clients to analyze and describe their operations and agendas. The company is best known for its Leapfrog product, which offers 3D geological modeling tools to clients in mining, energy, civil, and environmental-related industries.
Sequeent operates internationally via 13 offices and claims to have products in use in more than 90 countries. Other applications include road and rail tunnel construction, film animation, groundwater detection and management, geothermal exploration, resource evaluation, and subterranean storage of spent nuclear fuel. The company received backing in 2014 from Pencarrow Private Equity.
"We're committed to helping Seequent reach its full potential and the opportunity to have an additional investment partner of the caliber of Accel-KKR to work alongside through this next stage in the company's growth is a great result for the company," Nigel Bingham, Seequent's chairman and a managing partner at Pencarrow, said in a statement.
Accel-KKR was founded in 2000 with a focus on middle-market software and IT businesses and claims to have about $4 billion in capital commitments across various buyout and growth funds. Previous commitments in the region include PageUp, and Australian enterprise software provider that was invested by Battery Ventures earlier this year, providing an exit for Accel-KKR.
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