Accel-KKR Credit Partners today announced that it has provided debt financing to support Dalet in its next chapter of innovation and growth. Accel-KKR Credit Partners is a private credit fund managed by Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley.
“Dalet has been the technology backbone of leading news, media & entertainment, and sports organizations for decades, providing a mission-critical platform that our customers rely on to run their day-to-day operations,” said Santiago Solanas, CEO of Dalet. “We are at a pivotal point with an opportunity to further enhance our offerings with the latest innovations in cloud and AI. After executing our go-private strategy in 2020 with our capital partners Long Path Partners, we welcome Accel-KKR Credit Partners as Dalet continues to invest in R&D and deliver innovative, transformative solutions.”
Founded in 1990, Dalet provides cloud-native workflow and automation solutions for media companies globally. The unified platform supports the daily operations of its customers by providing critical story-telling functionality and a highly scalable content management system that supports complex video content management and distribution.
Dalet has recently launched Dalet Pyramid, the next-generation and modular suite of applications for news production and distribution. The product is a modern, cloud-based story-centric solution that is being embraced by some of the largest names in news. Dalet Pyramid breaks silos and fosters collaboration between teams at multilocation stations, which is increasingly relevant as organizations focus on efficiency and speed to deliver content to their audiences. Dalet Pyramid took home the prestigious TV Tech NAB Best of Show award in April 2024.
“We are excited to see the momentum across the news, live event, and streaming markets,” said Christian Heim, Chairman of the Board, Dalet and Partner at Long Path Partners. “As long-term investors in Dalet, we have always admired and supported Dalet’s strategy of customer-centric technology innovation. We are thrilled to partner with Accel-KKR Credit Partners to further fuel our innovation and growth plans. Accel-KKR Credit Partners is clearly a unique fit to provide growth financing to Dalet as they are experts in the software space and share our vision for Dalet.”
“Long Path Partners is creating value in Dalet by having the right management team in place and making the right product investments to position the company as a software leader for newsrooms and the media industry broadly,” said Samantha Shows, Managing Director at Accel-KKR. “We look forward to supporting Dalet in its next phase of growth.”
About Dalet
Dalet empowers media-rich organizations to transform their production and distribution workflows – accelerating media operations, maximizing collaboration, and creating higher value from content. As a leading media technology and service provider with over three decades of innovation, our software solutions enable greater control, enhanced visibility, and increased productivity for content professionals and storytellers around the globe. Leading organizations such as NBCUniversal Local, Fox Networks Group, Arsenal Football Club, MediaCorp, Peloton, and the BBC trust Dalet to support their daily content operations. Dalet is driven by a passion for media and committed to empowering a world where compelling stories are beautifully made, effortlessly told, and thoughtfully delivered.
About Long Path Partners
Long Path Partners is a privately owned investment firm that invests in a limited number of high-quality, predictable, category-leading businesses. Long Path’s patient and flexible capital base allows for aligned partnerships with like-minded management teams to execute long-duration, strategic investment objectives in both the public and private markets. Long Path Partners is based in the New York metropolitan area and focuses its investment activity primarily in the North American, European, and Australasian regions.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with over $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs, and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.
About Accel-KKR Credit Partners
Accel-KKR Credit Partners provides debt financing to leading software businesses. The fund structures non-dilutive investments for founder-owned businesses and flexible credit products for institutionally-owned businesses. The debt capital is used to support acquisitions, dividends, shareholder buy-backs, and growth investment. Accel-KKR Credit Partners has completed over 60 investments and deployed nearly $1 billion in capital.