Partners Group, Earlybird and Sofinnova, three European venture capital firms, have led a €23m ($27m) third round financing for esmertec, a Swiss software company they have backed since 1999. The company has just moved into profitability.

It is the first financing of a European software company in 15 months. Five new investors are supporting the round: BV Group Private Equity, Quilvest Group, Rothschild Gestion, Invision and Crédit Lyonnais Private Equity paid in €10m for a share of the equity.