Lansweeper is a Flanders-based software company that provides IT asset management (ITAM) software solutions. The company recently secured EUR 130 million from Insight Partners, a New York-based global venture capital and private equity firm. Insight Partners joins Lansweeper’s existing investor Dovesco, a mid-market private equity investment firm operating from Zwijnaarde (Flanders).
Lansweeper was founded in 2004. Its core business is to help businesses understand, manage, and protect their IT devices and networks. The company’s platform inventories all types of IT devices, software, and network users, which allows companies to centrally manage their IT ecosystems. Currently, Lansweeper’s platform enables the monitoring of around 80 million connected devices for more than 25,000 customers.
Many companies no longer have a clear view of what is running in their IT environments.
Companies end up with outdated devices that they are not aware of. That is a huge security risk. We believe that our market is infinitely large. It gets our full focus. We actually have no competition there.
Dave Goossens, CEO Lansweeper
Among Lansweeper’s customers are some impressive names, like Mercedes, FC Barcelona, Michelin, Sony, Nestlé, IBM, and Samsung. The company also offers its services to several governments, banks, NGOs, and universities. It has over 150 team members who operate from Belgium, Spain, Italy, Ireland, UK, and the USA.
This attracted the attention of New York-based capital fund Insight Partners, which usually invests in high-growth technology and software scale-ups that are driving transformative change in their industries.
Redefining the ITAM market
Insight Partners has major software names in its portfolio, including automation specialist Workato, DocuSign and Ghent-based (Flanders) software company Showpad. Since its founding in 1995, the American company has invested in more than 400 companies worldwide.
In return for its investment of EUR 130 million capital injection for Lansweeper, Insight Partners will receive a minority stake. A majority stake is still in the hands of another Flanders-based company: Dovesco, a mid-market private equity investment firm.
Lansweeper believes the backing from Insight Partners and Dovesco will help it expand its market reach, accelerate its product innovation and even redefine the ITAM market.