Thomas H. Lee Partners will fork over $350 million (about €330 million) for a 58 percent majority stake in the Amsterdam-based firm. Bynder develops a digital asset management (DAM) platform.
Organizations use the platform to manage digital assets (videos, images, texts and so on) in a centralized environment. Marketers, web developers, designers and other employees can pluck their assets from the environment. In addition to archiving, Bynder develops tools for project management and content creation.
Bynder was founded in 2013. At present, the company has more than 500 employees, offices worldwide and a valuation of about $600 million. Its headquarters are located in Amsterdam. Thomas H. Lee Partners (THL) recently announced a $350 million investment. The organization is acquiring Bynder through a 58 percent majority stake.
Bynder grows fast
“Bynder has grown to a $100 million ARR business serving 1.7 million users across nearly 4,000 brands worldwide”, founder Chris Hall commented. “With the announcement of this new partnership, we can deliver even more value.”
THL has high expectations. “Bynder is the pure-play market leader in a category that we believe has become foundational for executing digital marketing at scale”, THL managing directors Cliff Longley and Jeff Swenson said.
The deal is expected to be finalized at the start of the new year. The statements from THL and Bynder suggest that the company’s structure will remain intact. CEO Bob Hickey revealed that Bynder plans to use the investment for product development and partners.