Netherlands: InnovFin: EIB supports innovative Dutch software house eVision
eVision Industry Software and the European Investment Bank (EIB) today signed an agreement for a loan of EUR 13.5 million. The investment will enable eVision to strengthen its global position as a leading provider of digital control of work solutions. The company will be the second Dutch ICT business to use the innovative new “Mid-Cap Growth Finance” product of the joint EIB-European Commission “InnovFin – EU finance for innovators” programme.
“The EIB uses the InnovFin programme to invest in innovative SMEs and Midcaps in Europe”, says EIB Vice-President Pim van Ballekom. “Investing in innovation is a priority for the Dutch Government as well as the European Commission and it is key for the accomplishment and success of the Investment Plan for Europe. This project with eVision is a great example of our common priority, and a partnership I hope to replicate with other sound Dutch companies".
eVision will continue to invest in its market-leading software platform that helps companies to be in control of their frontline operations. Innovations in digital control of work will help companies address the growing need for operational efficiency and safety control.
“Partnering with EIB gives us the flexibility and freedom to continue our investments in research and development, which is a cornerstone of our success”, says Peter Kortenhorst, CEO of eVision. ”As a result we are in an excellent position to sustain our growth and take advantage of the growing demand for digital control of work”.
The EIB, in cooperation with the European Commission, provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. In August 2015 eVision was the first Dutch company to be awarded 2.3 million Euro grant under the Horizon 2020 program.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In the Netherlands alone, nearly EUR 2,1 billion was lent to sound projects over the course of 2015.
InnovFin MidCap Growth Finance offers long term senior, subordinated loans or mezzanine loans, in order to improve access to finance mainly for innovative larger midcaps (up to 3000 employees), but also SMEs and small midcaps. Loans from EUR 7.5m to EUR 25m will be delivered directly by the EIB.
Through the InnovFin programme, started in 2014, some EUR 4.4 billion has been awarded in support of innovative companies around Europe. This is the second EIB transaction in the Netherlands supported by “InnovFin – EU Finance for Innovators”, with the financial backing of the European Union under Horizon 2020 Financial Instruments. The EIB regards investments in innovation as well as in telecommunications as a priority in the Netherlands and in Europe as a whole. In the Netherlands alone, some EUR 267,5 million were invested in glass fibre networks since 2010.
eVision Industry Software is the global leader in Control of Work software. Companies in the oil & gas, (petro)chemical and other high-risk industries turn to us to improve control over their operational processes, resulting in fully auditable, real-time corporate risk management as well as increased operational efficiency.
eVision’s user-friendly and fully integrated product portfolio includes software for business processes such as permit to work, risk assessment, isolations management and management of change. The state-of-the-art One Vision software platform seamlessly integrates with third-party software systems, utilizing for example external work order and engineering data.
The company is based in The Hague, The Netherlands, with regional offices in the United Kingdom, the Middle East and the United States. eVision has a global partner network and clients on five continents. eVision achieved a revenue growth of >35% in 2015 and more than doubled the number of new contracts.