AshGrove Capital Provides €30 Million Tailored Credit Facility to Dealfront, Supporting Accelerated Growth
Dealfront was formed in 2022 through the merger of Echobot and Leadfeeder, supported by a €180 million equity investment from Great Hill Partners (“GHP”)
AshGrove’s investment will drive Dealfront’s continued growth in its core regions of DACH and the Nordics as well as support further geographic expansion and opportunistic strategic acquisitions
London, November 12, 2024 — AshGrove Capital is pleased to announce a €30 million senior secured investment in Dealfront, a high growth B2B sales intelligence platform.
Dealfront, headquartered in Germany, provides GDPR-compliant data, insights, and applications to empower sales and marketing teams to identify, target, and secure high-quality leads. The platform was formed in 2022 through the merger of Echobot and Leadfeeder, supported by a €180 million equity investment from GHP.
Dealfront holds a leading position in the DACH and Nordic regions, thanks to its robust GDPR-compliant practices and data sourcing methodologies. These strengths set it apart from competitors and have driven strong market share growth over recent years, as businesses increasingly seek compliant solutions amidst heightened EU regulatory scrutiny.
AshGrove’s investment will enable Dealfront to continue its rapid growth trajectory and accelerate geographic expansion in addition to pursuing opportunistic strategic bolt-ons to create the European champion in B2B sales intelligence.
This marks the fifth investment by AshGrove Specialty Lending Fund II (ASLF II), a €650m fund committed to providing tailored credit solutions to high quality small and medium sized European B2B software and services companies.
Chris Gaffney, from GHP, said: “AshGrove was an obvious financing partner for Dealfront. As a credit provider, they bring deep thematic expertise in B2B software and services. Together with their strong understanding of Dealfront’s market environment this enabled them to structure a tailored solution to support our value creation plan.”
Bastian Karweg, CEO of Dealfront, and co-founder of Echobot, said: “We are delighted to have AshGrove on board as a partner to Dealfront. Alongside the support of GHP, AshGrove’s investment provides even greater firepower as we continue to grow and cement our position as the European champion in B2B sales intelligence.”
Ben Gibson, Managing Director at AshGrove Capital, added: "AshGrove’s expertise in supporting high-growth B2B software businesses was pivotal in our selection as a partner. By tailoring a bespoke facility to meet Dealfront’s needs, we are enabling the business to accelerate its expansion across Europe and capitalise on the significant opportunities in the B2B sales intelligence market. This partnership reflects our confidence in the quality of Dealfront’s proposition and its significant growth potential. We are delighted to partner with GHP given its impressive track record, particularly in B2B sales intelligence via its realised investment in ZoomInfo."
About AshGrove Capital
AshGrove Capital is an independent pan-European specialty lender providing tailored credit solutions to European small and medium sized companies. The Firm focuses on senior secured investments in companies with resilient business models within B2B software and services, building long-term partnerships with businesses and their stakeholders. AshGrove integrates ESG principles and values in all aspects of its business, promoting responsible and sustainable business practices.
For more information, please visit www.ashgrovecap.com
About Dealfront
Dealfront is a leading B2B SaaS provider offering advanced sales intelligence and go-to-market solutions. Its data-driven platform helps businesses streamline prospecting, optimize workflows, and achieve revenue growth, serving a growing base of international enterprise clients.
For more information, please visit www.dealfront.com
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments of $100 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has raised over $12 billion of commitments and invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-2019.
For more information, please visit www.greathillpartners.com
Contact
AshGrove Capital
ashgrove@burwaycapital.com
