Amsterdam-based Mentha, an independent VC and private equity firm, announced on Tuesday, April 18, that it has partnered up with Ciphix, a Rotterdam-based hyperautomation specialist that automates and optimises processes for large companies.
According to a statement, the partnership will strengthen its expansion plan and position Ciphix as a major hyperautomation leader in Europe.
Unlocking human potential through AI digital workforce
Founded in 2018 by Mathijs Gast and Marcus Groeneveld, Ciphix is an IT implementation company that aims to help organisations unlock human potential through smarter business process automation.
According to Ciphix, in a world with so much technological potential, there is no need for people to perform tedious, repetitive, and monotonous jobs. Because of this, Ciphix aims to assist enterprises in maximising the potential of their workforce through smart process automation.
The Dutch company claims to offer brands and even government bodies, distinctive and reliable solutions to take ‘the robot out of the human’ with an integrated approach to Process Mining, RPA, Low-code, Integrations, and Machine Learning.
With the use of these technologies, Ciphix automates more complicated repetitive procedures, resulting in increased productivity, a decrease in mistakes, and lower costs. Additionally, it also enables clients to give staff members more significant, worthwhile, and difficult tasks like solving complex challenges.
Ciphix also claims that it is distinguished for its effectiveness in attracting and retaining talent. This is because of the supportive and challenging company culture for ongoing organic growth.
Currently, the company has more than 60 employees.
Aim of this partnership
In order to speed up the expansion plan, Mentha says it will be considering potential acquisitions in both the domestic and international markets. The firm has experience growing technology firms on a global scale and will help Ciphix both strategically and operationally.
In the upcoming years, Ciphix and Mentha hope to expand their business into a major European hyperautomation expert.
The companies say this is motivated by the desire to help address pressing labour market issues including the severe scarcity of competent workers and the high staff turnover rate brought on by low job satisfaction and a lack of stimulating and fulfilling employment.
In a LinkedIn post, Ciphix mentions that Koen Mallee (CEO) and Marijn van de Poel (Chief Strategy Officer) will stay on as the management and continue to lead Ciphix as the hyperautomation specialist.
Mallee says, “For us, it feels like the journey has only just begun and we are incredibly proud of our team, the customers and partners we work with.”
Van de Poel adds, “We look forward to taking the next steps together.”
According to a statement, Ciphix is confident in its capacity to further define this goal, in part because robotisation of some labour processes along with ongoing innovation from software providers has a wide range of applications.
Stijn Dietz, Investment Director at Mentha, says, “We are impressed by Ciphix and very excited to invest in the future of hyperautomation through this partnership. The management’s ambition and Ciphix’s innovative approach to intelligent automation, combined with our expertise in scaling this type of business is an excellent foundation to continue growing and increasingly delivering value to customers in the coming years.”
Founded in 2007, Mentha is an independent private equity firm active at the lower end of the mid-market.
“We focus on established, medium-sized and profitable companies in the Netherlands, Belgium, Denmark and Germany with clear growth opportunities, such as organic growth, international expansion and buy-and-build.”
The firm claims to team up with ‘unique’ entrepreneurs and enterprising managers to jointly realise ambitious growth plans. It does over 25 (international) transactions annually and focuses on businesses with EBITDA between €2M and €20M.