Australia’s top provider of field-servicing software for building compliance, Uptick, has secured a strategic growth investment from global technology-focused investment firm Accel-KKR. Uptick’s platform is widely used in over 25% of commercial and multi-storey residential buildings in Australia by field servicing companies performing critical asset maintenance. This marks the fourth funding round for Uptick, with initial investments made by Equity Venture Partners and Folklore Ventures. Aidan Lister, Uptick’s CEO and founder, will remain a major shareholder and CEO to realize Uptick’s vision of bringing service providers, auditors, building owners, and facility managers onto a single platform to manage maintenance and building compliance. The investment from Accel-KKR will aid Uptick in fueling international growth, expanding customer success capabilities, and accelerating its ambitious product roadmap. The company expects to benefit significantly from Accel-KKR’s reputation as a highly strategic growth investor with a track record of working with fast-growing software companies.
Accel-KKR’s investment in Uptick is the latest addition to its portfolio of more than 15 equity investments in the ANZ region, solidifying the firm’s position as one of the fastest-growing software investors in the area. Recently, Accel-KKR completed the sale of two software firms, Pegasus Management and Seequent, for USD$1.1 billion in enterprise value. With over 300 software investments and acquisitions under its belt in the past twenty years, Accel-KKR is one of the most active private equity investors in software globally. Phil Cunningham, Operating Executive at Accel-KKR, praises Uptick for providing a highly valued solution to building owners, managers, auditors, and service providers by streamlining building maintenance, safety, and compliance through digitized processes. Accel-KKR plans to leverage its extensive experience in software growth to support Uptick’s commitment to its customers through exceptional customer success and product innovations.
Uptick is a prominent software provider in the building compliance industry, used to maintain over 250,000 buildings and millions of assets annually. Its flagship product, Workforce, assists field servicing companies in managing their mobile workforce to perform routine asset maintenance activities, ensuring buildings are safe and compliant. Uptick offers additional products to building owners and facility managers for compliance and risk management, and its clientele includes major facility owners in Australia. To find out more, visit uptickhq.com/media.
Accel-KKR is a capital firm with a focus on technology and software businesses. With over $10 billion in capital commitments, the firm is committed to building value alongside its portfolio companies by developing strong partnerships with management teams and leveraging the resources available through the Accel-KKR network. The company targets middle-market companies and offers a range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR invests in various transaction types, including private company recapitalizations, divisional carve-outs, and going-private transactions. The company has been recognized by Inc. as one of the “PE 50 – The Best Private Equity Firms for Entrepreneurs” in 2019 and 2020. Accel-KKR is headquartered in Menlo Park, with additional offices in Atlanta and London. To learn more, visit accel-kkr.com.