It is Siguler Guff's third significant investment in the software engineering industry.
We are pleased to announce that Solvd, Inc. has secured a majority investment from Siguler Guff & Company, LP, a global multi-strategy private equity firm with deep experience in the digital product development industry.
Siguler Guff is a leading global multi-strategy private markets investment firm. It has over 30 years of investment experience. Together with its affiliates, it manages approximately $17 billion of assets as of June 30, 2022. The firm seeks to generate strong, risk-adjusted returns by focusing opportunistically on market niches. Its core investment strategies include opportunistic and private credit, small business private equity, distressed real estate and emerging markets. Siguler Guff also offers investment products: direct investment funds, multi-manager funds and customized separate accounts are among them.
Due to the new partnership, we are going to expand our distributed development division and strengthen our advanced capabilities in test automation, application development and DevOps. Our investor will also look to further support Solvd's management team by adding senior sales and engineering-focused professionals in the U.S.
Having invested previously in industry leaders EPAM Systems and GlobalLogic, our firm is focused on backing digital transformation. We couldn't be more excited to continue this commitment by partnering with the Solvd team to support the development of their outstanding software product and client services. We look forward to working together in this new phase of accelerated growth and expansion of Solvd’s delivery footprint.
In each of the last three years, Solvd has doubled sales: we leveraged Zebrunner, our innovative proprietary quality management platform.
We expect this partnership to strengthen Solvd's product capabilities, bolster our executive bench in North America and broaden international delivery footprint.
Siguler Guff's investment is an important validator of the truly valuable experience our employees and management team have achieved for our clients. Siguler Guff's industry insights, strong relationships and collaborative style make them our ideal partner. We are thrilled to be a core investment from their flagship growth fund and welcome Drew Guff and Shaun Khubchandani to our Board of Directors.
Solvd's team has over 600 engineers located across eight countries in Latin America, North America and Eastern Europe. We serve Fortune 500 clients from high-growth industries, including FinTech, Retail, Media and Entertainment, Software, and Health and Wellness.
Across all sectors, successfully migrating to digital has become a crucial differentiator for businesses globally. Solvd's engineering expertise and IP-focused culture enable it to lead this paradigm shift and competitively gain market share over its competition. Solvd provides meaningful opportunities to the growing tech talent base in Europe and Latin America, and Siguler Guff is uniquely positioned to use its sector experience to bolster Solvd's talent base organically and through acquisitions.
Solvd is looking forward to the first results of productive collaboration with Siguler Guff. Our focus remains on moving forward in digital transformation, maintaining and enhancing the quality of our software products and services for our clients.