How Basware Transformed Its Go-to-Market Strategy After Private Equity Investment

Basware Case Study

Following investment from Accel-KKR, Basware partnered exclusively with Oakstone International to transform its global go-to-market capability. Working alongside the CRO and Chief Product Officer, Oakstone led executive searches across EMEA, the US and APAC to attract enterprise sales leaders capable of closing complex, multi-million-dollar SaaS deals. Despite brand perception challenges, the partnership delivered multiple senior GTM hires that supported Basware's transition to an enterprise-led growth strategy and international expansion.

Background

Basware

Requirements & Pain Points

Oakstone’s Solution

Results

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Background

• 2013: Oakstone partners with Coupa to be their exclusive external partner in building their GTM teams globally.

• During this time, Oakstone worked closely with their VP of Northern Europe, Mark McCarthy, to build his team across the UK and the Nordics. Oakstone assisted Mark and Coupa in hiring several top-performing salespeople, 2 of which we’re top performers globally for 4 consecutive years, which contributed to Marks teams success and helped them land and expand in UK, Sweden and Denmark.

•  This team subsequently became, at the time, the top-performing region globally. 

• Mark then inherited the East US team, whereby Oakstone supported him and his peers in hiring GTM people globally.

• Oakstone continued to assist Coupa in making over 110 hires globally.

• 2022: Mark leaves Coupa and joins private equity firm Accel-KKR as a GTM Advisor and Principal to assist investments to scale and grow. Oakstone assists multiple companies in Accel-KKR's portfolio make executive hires.

• 2022: AKKR Private Equity heavily invests in Basware, and Oakstone becomes an exclusive, retained partner based on the level of procurement and global GTM hiring experience.

Basware

• Basware was founded in 2002 by Vesa Tykkyläinen in Finland. 

• Basware achieved stable, profitable growth over 20 years, selling an extensive portfolio of solutions related to procurement. However, it was historically known for selling those solutions in a feature-and-benefit approach to mid-market.

• AKKR acquired Basware due to their best-in-class enterprise solution for e-invoicing and AP automation.

Requirements & Pain Points

• Basware required strategic AE’s who could sell large multi-million, complex deals in a business-led consultative way to large enterprise businesses – which hadn’t previously been hired by Basware.

• Basware required specialist support to identify these profiles, qualify their suitability and attract them top Basware, made particularly challenging given the previous reputation of not doing multi-million dollar deals prior to AKKR’s involvement and amended GTM strategy

• Basware was an established e-procurement company; however, it needed assistance repositioning its brand to reflect its renaissance in selling business led deals to large enterprise, whilst focusing on their best in breed AP automation and e-Invoicing software.

Oakstone's Solution

• Oakstone worked with Mark McCarthy, Basware's Chief Revenue Officer, and Basware's Chief People Officer, to establish their requirements and growth plans.

• Oakstone conducted coinciding international searches globally to identify target profiles.

• Oakstone then approached these candidates, establishing their motivations and career goals to qualify whether Basware was the right fit. 

• Conversations with qualified candidates required educating them about the renaissance that was going on in Basware to pique their interest.

Results

• Oakstone conducted multiple searches and introduced highly qualified candidates across all roles in the UK, Australia, Germany, Switzerland and the USA – resulting in multiple hires within EMEA, US and APAC with an unprecedented calibre level, despite trading for 22 years.

• Oakstone is continuing to support Basware's international growth plans.

• Why does brand perception impact senior sales hiring?

  Sales leaders assess not only the product but also market perception, deal history, and growth narrative. Established SaaS brands undergoing transformation must proactively reposition themselves to attract enterprise-calibre talent.

• How do companies successfully reposition themselves to enterprise sales talent?

  Successful repositioning requires clear articulation of GTM strategy, investor backing, leadership credibility, and proof points around enterprise value. Executive search partners can assist with this as they are able to articulate the repositioning of the company to passive candidates over multiple meetings.

• How does Oakstone approach enterprise GTM hiring differently?

  Oakstone International combines deep sector knowledge, global networks, and long-term relationships to identify enterprise-calibre sales talent. The focus is on consultative deal capability, cultural alignment, and long-term impact rather than short-term headcount.

I’m Hiring

Oakstone International are a specialised SaaS executive search and recruitment firm assisting companies globally. If you are looking for executive search assistance or would like to speak to a Divisional Director about future hiring assistance in EMEA, the US or APAC, contact Oakstone.

I’m Job Seeking

As a SaaS client-driven firm, we work exclusively for clients to find people with a specific set of skills and experience.

However, if you would like to submit your CV, it will be passed on to our divisional directors, and we will consider you for future roles that are appropriate to your background and goals.