Workplace micro app platform developer Sapho has been acquired by Citrix Systems having previously raised more than $26m from investors including Bloomberg Beta.
Media group Bloomberg exited US-based work management software developer Sapho yesterday in an acquisition by virtualisation software provider Citrix Systems that Citrix told VentureBeat was $200m in size.
Founded in 2014, Sapho has created a software platform called the Sapho Employee Experience Portal that provides employees with a range of third-party micro applications intended to make them work more efficiently.
The company’s micro app platform is set to be absorbed into Citrix’s corporate IT management service, Citrix Workspace, post-acquisition.
Fouad ElNaggar, Sapho’s co-founder and CEO, said: “Our technologies create an intelligent environment that solves productivity challenges that employees and companies are facing by organising work in a single place, guiding work by bringing micro apps into the environment and automating tasks to increase time for employees to do value-added work.
“And together, we can deliver a truly intelligent workspace that redefines the way work gets done.”
The company had raised $26.5m in venture funding, including $3m in a 2014 seed round featuring Bloomberg’s corporate venturing arm, Bloomberg Beta, SoftTech VC and assorted angel investors.
Caffeinated Capital led a $9.5m series A round for the company that included Bloomberg Beta, SoftTech VC, Alsop Louie PartnersMorado Ventures and AME Cloud Ventures two years later. The series A investors joined Felicis Ventures for a $14m series B in April 2017.
