Trifork exits co-founded Humio, which is sold to CrowdStrike for USD 400 million
Next-gen IT service company Trifork has entered into a share purchase agreement with CrowdStrike Holdings, a U.S. based provider of cloud-delivered endpoint and workload protection, as part of CrowdStrike’s acquisition of Humio for approx. USD 400 million.
Humio, a log management platform enabling complete observability for all streaming logs in real time and at scale, was co-founded in 2016 by Trifork.
The sale of Humio illustrates the value of Trifork’s Labs model in which Trifork invests and supports promising technology start-ups that develop innovative software solutions.
“Trifork Labs is the driver of our R&D activities. In addition to being an R&D investment, it is an investment in recurring revenue as the companies grow. On top of this comes the value creation when we exit an investment, as now with Humio. Through Trifork Labs, we get a unique insight into innovative technology and access to some fantastically talented people,” says Trifork co-founder and CEO Jørn Larsen.
Trifork Labs has more than 15 active investments, in which Trifork has invested almost EUR 4 million until 2019. In addition to Trifork’s own investment, Trifork facilitates external seed and venture financing to the Trifork Labs companies. Trifork has made a number of exits from previous Trifork Labs investments over the years, including Tradeshift and ChainAnalysis.
Trifork Labs’ investment criteria are that companies invent new technology, which potentially can become a business driver or strategic partner for Trifork and achieve synergies from Trifork’s services.
For further information, please contact
Jørn Larsen, CEO, phone +41 79 430 96 97
About Trifork (www.trifork.com)
Trifork Group, headquartered in Schindellegi, Switzerland, with offices in more than 11 countries in Europe and North America, is an international IT group focusing on the development of innovative software solutions. The group was founded in Denmark in 1996 by Jørn Larsen, the current CEO and now has around 800 employees in 48 business units, focusing on three vertical business areas: Digital Health, FinTech and Smart Buildings and three horizontals: Cloud Operations, Cyber Protection and Smart Enterprise. We “think software” and believe that we can change the world with software. We find smart solutions that make life better and easier for everyone. Trifork optimizes its customers’ business by delivering effective and user-friendly digital solutions. As part of its innovation program, Trifork produces technical content in collaboration with hundreds of tech-experts from the leading universities and startups. With the GOTO brand, Trifork serves a world-wide tech community of close to 200’000 people. Trifork’s R&D is anchored in the Trifork Labs, where Trifork continuously co-founds and develops IT start-up companies. The startups deliver technology that Trifork uses to produce innovative solutions for customers. At present, Trifork is a partner in 20 start-up companies. AxonIQ and Verica are examples of very successful Labs companies. The Trifork Group’s financial targets for 2020 are a revenue in the range of EURm 115-120 and an EBITDA of EURm 17-19.