SEP invests in Springtime Technologies to drive growth

Scottish Equity Partners (SEP) has announced a strategic growth investment in Springtime Technologies, a Vienna-based company specialising in accounts payable automation software.

Springtime Technologies' main software offering, Invoicetrack, is designed to streamline finance operations by automating data extraction and providing an AI-driven matching engine. This capability allows customers to efficiently process invoices in over 70 countries, addressing complex use cases often found in industries like life sciences and chemicals.

Springtime Technologies has maintained profitable growth since its inception and serves a clientele comprising blue-chip firms, including Boehringer Ingelheim, Essity, Festo, and Evonik. Collectively, these clients process millions of invoices annually, managed by Springtime's Invoicetrack solution.

The accounts payable automation market, which Springtime operates in, is valued at over USD $3 billion and is experiencing significant growth, approximately 20% annually. Increasing regulatory demands and complexities in global supply chains are anticipated to heighten demand for software solutions within this sector.

Markus Hübl, Founder and Chief Executive Officer at Springtime Technologies, commented, "Our mission is to transform financial accounting operations by leveraging cutting-edge technology to drive efficiency and accuracy for global enterprises. SEP is a great fit for Springtime because their strategic expertise in high growth software companies and commitment to innovation align perfectly with our goals of expanding our reach and enhancing our product capabilities."

The investment from SEP is anticipated to enhance Springtime's product development and help expand its market presence globally.

The investment was spearheaded by SEP's Taylor Rampton, Daniel Muranda, and Angus Conroy. Taylor Rampton, Principal at SEP, stated, "Springtime has a differentiated and market-leading product offering for large enterprises, and its new AI-enabled framework is delivering significant performance improvements for its customers. Markus, Stefan, and the broader Springtime team have built an outstanding business, which aligns with our strategy to partner with capital-efficient software scaleups, particularly where they are delivering clear productivity benefits within large organisations. We are delighted to support the team in the next phase of their journey."

SEP is a growth investor, specialising in enterprise software and technology scaleup companies in the UK and Europe. As well as investment, SEP works closely with the founders and leadership teams it partners with, and provides hands-on support, expertise and access to its international network.

Springtime Technologies, based in Vienna, Austria, specialises in accounts payable automation software for large enterprises. Its flagship product, Invoicetrack, streamlines finance and operations workflows by automating data extraction, leveraging AI-powered matching engines, and integrating country-specific expertise.