Bucharest, September 11th. 2019 – DocProcess – the Romanian software company which automates business processes among partner ecosystems, extends its Romanian and European footprint with the help of the private equity fund, Morphosis Capital.
DocProcess develops cloud-based solutions for process optimization and automation in procurement, logistics and finance and accounting departments. Its solutions are used extensively in retail, DIY, manufacturing, logistics, BPOs (Business Process Outsourcing) and SSCs (Shared Service Centers) and also in utilities, healthcare, insurance and banking.
The DocProcess investment is the first local transaction from Morphosis Capital and one of the few private equity transactions in a technology company, in Romania.
This transaction will fund local and European expansion: opening new local offices and a new office in France and strengthening the DocProcess team. By the end of 2019, the DocProcess team will reach 60 team members.
Since its foundation in 2005, DocProcess has aimed at creating value at a business ecosystem level, betting on an open, fast and automated environment. Open – meaning that companies can easily collaborate, with harmonized processes and systems that communicate seamlessly; fast – where business data is sent and processed in real-time, accurately and standardized, being easily mined with AI algorithms, and automated – an environment where employees don’t waste time on manual tasks and disjointed processes, but rather, use that time for more strategic actions.
“We want to grow and offer each entrepreneur, CFO or operational professional the solutions he or she needs to face the economic, supply chain and technology challenges which are shaping the business landscape so profoundly”, said Liviu Apolozan, DocProcess CEO and co-founder.
“Our results and the impact of our solutions in the business of our partners gave us the courage to expand in Europe and, why not, globally”.
In 2018, DocProcess made the first step towards the European market by opening its first research & development IT center in Grenoble, France.
“Now, with Morphosis Capital, we have even more support to work on our vision. We found a partner able to sustain our growth both locally and globally, and a group of professionals with large expertise and hands-on approach on every business aspect”. Liviu Apolozan, DocProcess CEO and co-founder.
“We decided to invest in DocProcess because we see it as the undisputed leader in business ecosystem automation in Romania and a major player in the business automation market.” – mentioned Simona Gemeneanu, Partner, Morphosis Capital. “We found an excellent opportunity to partner up with a technology company with a portfolio of products that are proven and scalable; a company founded by two entrepreneurs with a vision and values similar to ours”
On due-diligence, the transaction was facilitated by PWC and Stratulat Albulescu and Schoenherr law firms.
Founded in 2005, DocProcess helps companies with digital transformation services. Our services and platforms streamline and automate procurement, logistic, accounting and financial processes (Purchase-to-Pay, Order-to-Cash) helping companies to eliminate paper documents and manual, repetitive work, entirely. Over 3,200 global customers and over 25,000 users are now more productive thanks to our solutions.
In 2018, DocProcess opened its first international office – an R&D center – in Grenoble, France. During the same period, the CEO, Liviu Apolozan, received the EY Technology Emerging Entrepreneur of the Year award and DocProcess was also awarded the „Made in Romania” from Romanian Stock Exchange. In 2019, DocProcess was shortlisted on the ”Ones To Watch” from European Business Awards.
Read more on www.doc-process.com
About Morphosis Capital
The private equity company, Morphosis Capital, was founded by four Romanian entrepreneurs: Simona Gemeneanu, Gabriela Dumitru, Andrei Gemeneanu and Dragoș Petre. They have a vast experience in M&A and previously held top management positions in Unilever, TNT Express, Thomson Reuters, PWC and Innova Capital.
Wanting to contribute to Romanian businesses growth, in 2018, the four partners started the PE fund MCFI, whose primary investor is the European Investment Fund, through the Regional Operational Programme (ROP), financed by the European Regional Development Fund (ERDF).
Read more on https://www.morphosiscapital.com/