Amsterdam-based Rodeo, a cloud-native project management software provider with a focus on creative services companies, announced on Friday, July 22, that it has raised strategic growth investment from PSG. The amount of investment remains undisclosed.
The Amsterdam-based startup will now work in partnership with PSG and existing investors, including No Such Ventures, to accelerate its growth through increased GTM investment and geographical expansion.
About the investors
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help accelerate their growth.
PSG says it will assist the startup in pursuing a focused buy-and-build strategy to acquire more items that support the fundamental processes of creative services organisations. This will help Rodeo to construct a complete cloud suite of software solutions.
Pieter Vos, Founder and CEO of Rodeo, says, “We believe that we have found an excellent partner in PSG based on the firm’s significant experience in supporting founder-led software companies seeking to build category leaders. We are looking forward to working with the team at PSG to identify and execute on new opportunities to further accelerate our growth organically and through M&A.”
Christian Stein, MD at PSG, adds, “We believe that Rodeo is well-positioned to benefit from the growing adoption of project management software tools and has the potential to become the leading cloud software champion for the creative services sector.”
Founded in 2014, PSG has backed more than 110 companies and facilitated over 400 add-on acquisitions. The firm operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel-Aviv.
Rodeo’s last round’s lead investor, No Such Ventures, is a venture capital firm that offers equity investments and flexible deal structures on a tailored, per-deal basis. Backed by more than 100 investors, the Amsterdam-based firm invests between €2M to €8M in ambitious growth companies.
An all-in-one project management software
Founded in 2016 by Pieter Vos, Rodeo is a SaaS software company that offers all-in-one project management software with a focus on creative service customers. The company’s solution helps customers to optimise their workflows by harmonising planning, administration and reporting processes.
Through Rodeo, users can cover the entire project lifecycle, connecting each step of the process – from the budget to estimate, planning, time-tracking, invoicing and reporting.
Rodeo claims to have achieved a strong product-market fit through an easy-to-use product with an intuitive user interface that is built around the workflows of creative services companies. The company says its comprehensive project management software tools help customers manage their day-to-day project work and gain greater transparency into project-level profitability.
The solution combines an organic ARR growth profile with SaaS KPIs. It serves a significant customer base, including marketing and advertising agencies, design and architecture firms, media companies and other creative organisations across The Netherlands, US, Germany, and the UK.