09.10.21
Coptis, a leading publisher of software for cosmetic laboratories, will expand its operations by joining forces with Extens, the first French fund dedicated to healthcare software publishers, and Clearsight, a Swiss investment fund, company officials announced today.
Coptis will open its capital to Extens and Clearsight with the goal of accelerating its commercial and technical development planning. Extens is making the second investment of its third fund, which is currently being raised.
"I have chosen Extens to support Coptis in the next stages of its development and to help it thrive more rapidly in its own markets, as well as new markets, said Anne Karagoz, president of Coptis. “It is a fund dedicated to business software publishers, and the problems of publishers are very similar, even when the markets are different. I also appreciate the Extens Club, which brings together the different company managers to discuss shared problems, which is what our customers do in the Coptis Users' Club. I sincerely believe that Extens and Clearsight will contribute to the success of Coptis in the coming years.”
Coptis, which has been on the market for two decades, develops and markets specialized software to support cosmetic laboratories and raw material manufacturers in the formulation and regulatory compliance stages. Its solutions enable the cosmetics industry to efficiently manage development projects, reduce time to market, and improve the quality and accuracy of the data. In addition to this software suite, Coptis offers high, value-added services that enhance its customers' performance through a global regulatory database, a database of toxicological information on more than 3,000 substances, and a document database on more than 15,000 cosmetic raw materials.
Operating in Europe, North America and Asia, 40% of its revenue is generated internationally. Its software suite is available in seven languages and supports roughly 400 companies in some 40 countries. In contract to its mainstream competitors, Coptis' signature product, Coptis Lab, is a specialized business software. The company regularly gathers members of its User Club to hash out their needs, keeping the software suite in step with evolving field requirements. This close approach and understanding of the industry has enabled Coptis to establish its leadership position in this ever-evolving market.
Coptis achieved success with the North American and Asian markets dating back to the 2008 opening of a subsidiary in New York followed by one in Singapore in 2016. Five years later, Coptis, together with Extens and Clearsight, aims to expedite its deployment in these dynamic markets and consolidate its position as a leader in Europe. The resulting capital increase will enable the company to develop its range of products by integrating new components into the existing software suite.
"We are very pleased with this partnership with Anne, who has been able to create and develop a company that is recognized and trusted by its customers for more than 20 years, who value the strong suitability of its software suite for field requirements in a fast-growing market in France and internationally,” said Valentine Deramecourt, investment director at Extens. “Coptis has significant assets to consolidate the market position, and recognition it enjoys in France, at the international level while relying on its influence in the 40 or so countries where its customers are present.”
Extens will invest as a major shareholder in French and European small- and midsized enterprises that are profitable or have the potential to be, with a price tag up to €15 million or $20.7 million. The team brings together 10 professionals with extensive experience in private equity and entrepreneurship who have been navigating the e-health ecosystem and its regulatory complexities for more than a decade. To date, Extens has invested in 18 companies, including Enovacom, a publisher of software for interoperability and health-data security, and Kayentis, a software for collecting and analyzing patient data in international clinical trials.