CEO Letter - A new chapter: SAP to acquire TechWolf

Big news from the wolfpack: we’ve signed a definitive agreement for SAP to acquire TechWolf, subject to customary closing conditions.

At TechWolf, our purpose is to help people flourish at work. Since starting TechWolf as a university project at Ghent University, we have built AI models to help the largest companies in the world better understand their people and the work they do. Today, with arguably the largest workforce disruption of our lifetime ahead of us because of AI, that understanding is more important than ever.

Our AI models power this transformation for millions of people across dozens of the largest companies in the world, and despite growing from $1M to $15M of ARR in the US in the last 18 months, we still couldn’t keep up with the demand of a market that urgently needed a solution. It was clear to us that we needed a bigger platform and increased scale to capture this opportunity.

We had the chance to be deliberate about this next chapter, and we chose to team up with SAP because the AI transformation is a transformation of work. Most evidence of how work gets done today sits in operational systems complementing the data in HR systems. Many of the world's largest companies run those operations on SAP. We believe that to ultimately solve this problem, we need as much access to systems of work as possible.

We will continue to serve all of our customers, whether they are SAP customers or not. A portion of TechWolf’s customer base uses other HCM systems, and many customers leverage TechWolf in agents like ChatGPT, Claude and Copilot. We will help them navigate their workforce through this unprecedented transformation.

I will keep running the company as CEO alongside our existing executive team, Julie, COO, and Yasamin, CPO. We will continue to grow our company from our headquarters in Ghent and offices in London and New York. Jeroen, our co-founder and CTO, will relocate to San Francisco to open another TechWolf office. We keep the TechWolf brand, culture and magic intact.

We’re extremely thankful to those who have built the company alongside us, and to customers who believed in us. Every member of the wolfpack will agree this group is special. The journey so far has been the privilege of my life and I cannot wait to explore this next chapter alongside this fantastic team we’ve built.

Although the terms of the deal have not been disclosed, the acquisition will be the largest acquisition of a venture-backed software company in Belgian history and Belgium’s largest employee liquidity event to date. Furthermore, the founders, team and investors of TechWolf are contributing 3% of the equity value of the sale to the TechWolf Foundation, a newly founded charity supporting causes aligned with TechWolf’s mission and purpose. ❤️

Lastly, I want to thank Mikaël, our third co-founder, who has decided to explore his own next chapter outside TechWolf. None of this would have been possible without you.

AWOO! 🐺🌖🚀🎤🤗

Dre