As our analytics platform gained traction, it became clear that accelerating our growth would require more than organic expansion.
We founded Jubiwee to help companies understand their employees as well as they know their customers. That simple idea shaped everything we built: a platform that tracks team morale, identifies risks of disengagement or turnover, and offers targeted recommendations. Over time, our product earned the trust of clients like L'Oréal, Engie, SNCF, and the French Government, reaching well over one hundred thousand employees. Our growth in France was steady and encouraging, but it became clear that capturing the broader European opportunity would require more than incremental steps. We needed to accelerate.
The market around us was shifting. Organizations wanted continuous insight into their people and a way to act on those insights quickly. Our analytics were strong, but to serve customers at the scale we envisioned, we needed to plug into a broader communications platform and expand across new geographies faster than we could on our own. We considered raising more capital. It would have given us runway, but not the complete solution set or the pan-European distribution we needed. The more we weighed our options, the more it became evident that a strategic transaction could advance our objectives more efficiently than going it alone.
Choosing an advisor for such a defining moment demanded care. We spoke with several banks. Many treated us like a well-performing French engagement tool, benchmarking us against local peers and suggesting valuation ranges that felt constrained by that lens. Venero took a different view. From the first discussion, they expressed a stronger conviction in our potential. They saw our platform not as another survey layer, but as an analytics engine that could elevate an entire employee experience stack.
Their experience with SaaS business models stood out significantly. Navigating the sale of a SaaS-based company requires deep understanding of subscription economics, retention metrics, and growth levers. Venero knew how to frame our financials and growth narrative in a way that would resonate with strategic buyers. The references we spoke to described a team that set expectations transparently and executed with discipline. That combination of conviction, SaaS fluency, and trust made the choice straightforward. We hired Venero.
Company: Jubiwee
Vertical: HR Tech
Founders: Thibaud Martin, Victor Mustar, Antoine Bellion
Transaction Type: Full Sale
Buyer: COYO (Marlin Equity Partners portfolio company)
Financial Advisor: Venero Capital Advisors
Selling a business is an emotional rollercoaster. There were days when strong interest validated our strategy and others when negotiations tested our patience. At times, it felt overwhelming balancing running the business and preparing for a potential sale. Venero insulated the team from the noise without cutting us out of the decisions, providing reassurance and clear communication whenever challenges arose.
They prepared a comprehensive Information Memorandum that showcased our story. And they built a shorter, founder-ready presentation for management meetings. That deck became our anchor, helping us present with confidence and clarity while demonstrating that we were fully in control of our story. It truly changed the dynamic and tone of the conversations, making us come across like a seamless, well-coordinated team.
The process itself felt measured and focused. Venero managed outreach, kept timelines on track, and maintained competitive tension without letting the process drag. When offers arrived, their valuation view held up. The final economics aligned with their initial predictions and landed well above the guidance other banks had provided at the outset.
More than once, in moments when fatigue could have led to expedient choices, Venero brought us back to first principles: why we were selling, what outcomes mattered, and how each term would play out in practice after closing. Their ability to remain level-headed and guide us steadily made a significant difference throughout the ups and downs of the process.
The dual-document approach proved essential. Having both a detailed Information Memorandum for due diligence and a concise management deck for presentations helped us maintain professional credibility while keeping our message tight and consistent across all buyer interactions.
Looking back, several lessons stand out. First, belief matters more than process alone. Venero believed in Jubiwee in a way others did not, and that conviction shaped every aspect of our transaction. Second, domain expertise is not optional when selling a SaaS business. How a story is told, how numbers are framed, and how buyers quantify potential all depend on deep understanding of the business model.
In the end, choosing Venero was not just about finding a banker; it was about finding a partner who was committed to helping us realize our potential. Their disciplined process, transparency, and sincere partnership made what could have been a stressful experience much more manageable. For us, working with Venero delivered a process we could run while still operating the business, a narrative that reflected the real value of what we built, and a valuation that matched the scale of our opportunity. It put Jubiwee on a path to grow faster and farther than we could have managed alone, which is why we started exploring a transaction in the first place.
To achieve our international ambitions, we needed an advisor with a global perspective and a proven ability to run a competitive process.
Every founder dreams of building something meaningful, but the real test comes when you have to decide what comes next.
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