ServiceNow acquires UltimateSuite, Tensor Ventures scores its first exit

The leading digital workflow company making the world work better for everyone, ServiceNow has market capitalization of nearly $140 billion, revenues of over $7 billion, employs more than 22,000 employees globally, and is listed on the New York Stock Exchange (NYSE).

This Is A Very Brief Business Card Of The U.S. Based Company ServiceNow, Which Looked At The “Task Mining” Technology And The Team Of The Czech Company UltimateSuite And Decided To Buy 100% Of The Shares In This Company. Until Now, UltimateSuite Was Owned By The Founder Of The Company Robert Šamánek With Only Two Investors, Deep Tech Fund Tensor Ventures And Investor Michal Rostock – Poplar. All Parties Have Decided Not To Disclose The Financial Details Of The Transaction. The Transaction Is Now Awaiting Final Completion.

Task Mining has only been around for a few years and involves the collection and analysis of hard data that shows how activities are performed across the business. This will show managers what employees are doing effectively, where they have reserves and how to deal with it. It is therefore a tool that is very valuable for any medium to large company.

The Czech company UltimateSuite, founded four years ago, thanks to its early entry into this fast-growing segment, is one of the few pioneers in the world who have started to offer fine-tuned task mining in Europe and the U.S. Its clients include Generali, Societe Generale prinesand Dovera. The fact that the company is moving in the right direction was confirmed by an investment of nearly CZK 19 million two years ago from deep tech fund Tensor Ventures and investor Michal Rostock – Poplar.

“We had a lot of faith in our technology, but I wouldn’t have dreamed it would all go this fast,” says UltimateSuite founder Robert Šamánek, explaining: “As one of the largest workflow companies in the world, the integration of our technology into ServiceNow’s Now Platform makes perfect sense and I am very happy that they decided to invest in Czech technology and talent. I think it can be a great inspiration for many other smart people in the Czech Republic.”

Robert Šamánek remains part of the company even after the sale of his ownership stake. “We have a lot of work ahead of us with our existing and new colleagues. Our solution needs to be integrated into the Now Platform and we are all looking forward to our ServiceNow customers trying it out.”

“It has been a great pleasure to support Robert and his team on his amazing journey into the world. This is our first exit and we are also delighted that he perfectly embodies what our fund aims to achieve. That is, to seek out and put into practice technologies that are ahead of their time and that can have a global impact,” says Martin Drdúl, co-founder of Tensor Ventures.

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