Nalanda Acquires Dokify to Consolidate Position as Leading Spanish Supplier Risk and Compliance Management Software Platform
Latest acquisition enhances Nalanda’s growing presence in non-construction sectors and expands product suite to create local Spanish champion positioned for international growth
MADRID - Nalanda Global (“Nalanda”), a leading Spanish supplier risk and compliance management software platform for the construction and adjacent industries, today announces the acquisition of Dokify, a provider of supplier risk and compliance management software solutions for non-construction sectors, to create a leading national platform across a broad range of end industries.
Nalanda is a leading supplier risk and compliance management platform for the construction sector in Spain with a growing presence in adjacent industries. It leverages intelligent cloud software to connect companies and suppliers using a digital platform that enables the smooth exchange and verification of health and safety, due diligence, supplier validation, invoices and other business information, as well as providing solutions designed to ensure compliance with worker access, working time and e-invoicing legislation.
Founded in 2012 by Juan Medina, Dokify is an Occupational Health and Safety (OHS) Document Management and Supplier compliance platform headquartered in Madrid with a strong market position across diversified sectors in Spain including distribution, industrials, energy, and logistics & transportation, amongst others.
The addition of Dokify consolidates Nalanda’s leading position in Spain by enhancing and building on the group’s growing presence in non-construction sectors. The combined group will have more than 70,000 customers across 16 countries, including Spain, Portugal, Poland, Norway, Italy, United Kingdom and France.
With multiple underlying trends expected to drive future growth, such as the ongoing digitization of workflows and processes, increasing regulatory and compliance requirements and a growing focus on ESG and CSR across every sector, the combination of Nalanda and Dokify positions the company for future growth by consolidating the supplier compliance sectors in Spain and expanding Nalanda’s vertical exposure and product suite. Nalanda will also seek to pursue its international growth ambitions through a combination of organic growth – leveraging its set of complementary solutions, strong technical knowledge and go-to-market experience – and strategic M&A across Europe.
Juan Gil Radabán, Founder and CEO of Nalanda, said: "Through the combination with Dokify, we combine and extend the already extensive Nalanda community to offer our clients and their suppliers a safe framework for work and a significant number of commercial opportunities. By enhancing and diversifying our presence in non-construction sectors and expanding our range of solutions we seek to provide our clients with a reliable and flexible compliance software solution designed to mitigate outsourcing risk and develop, control and enforce health and safety policies effectively. We are thrilled to be partnering with Juan and the team at Dokify and believe that this acquisition will support our future international growth ambitions to become a pan-European leader in the supplier risk and compliance management software sector."
“Our mission is to help companies improve their processes through technology designed to ensure compliance risks are mitigated, reduce costs, and improve efficiency,” added Juan Medina, CEO of Dokify. “This combination can allow us to significantly accelerate this proposal by expanding the range of solutions at the disposal of our customers. We look forward to working with Nalanda’s team and leveraging our combined resources to help accelerate the digitization of our core verticals.”
PSG Equity (“PSG”), a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth and build scale across Europe and the US, will remain as majority investor in the combined business having first invested in Nalanda in 2021.
The acquisition of Dokify represents the fourth acquisition completed by Nalanda since PSG’s initial investment. In July 2021, Nalanda acquired CTGA to grow the group’s presence in the maritime and shipping industries, while the acquisitions of Construred and 6Connecta in January 2022 and May 2022 enhanced Nalanda’s scale and nodal density in the Spanish construction sector and added a complementary health and safety software solution respectively.
The financial terms of the transaction are not disclosed.
About Nalanda Global:
Nalanda is a Spanish supplier risk and compliance management platform founded in 2000. It leverages intelligent cloud software to connect companies and suppliers using a digital platform that enables the smooth exchange and verification of health and safety, due diligence, supplier validation, invoices and other business information, as well as providing solutions designed to ensure compliance with worker access, working time and e-invoicing legislation. Nalanda operates in Spain, as well as in several European and Latin American countries.
Dokify is a Spanish supplier risk and compliance management platform founded in 2012, with the aim of providing an innovative solution around the coordination of business activities, creating a collaborative network of companies that allows the efficient exchange of information and documentation. With a global vocation since inception, it currently operates in seven countries.
About PSG Equity:
PSG Equity (“PSG”) is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 120 companies and facilitated over 430 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel Aviv. To learn more about PSG, visit www.psgequity.com.