Lexar is joining We Love SaaS as a partner, and they’re not just bringing capital to the table. Lexar is a Benelux-based investment firm that backs B2B scale-ups and buy-outs in SaaS, AI-native companies, and tech-enabled services.
What makes them a strong fit for our community goes beyond the usual investor pitch. When I sat down with the Lexar team to discuss the partnership, we ended up having one of the more interesting conversations I’ve had recently about what’s actually shifting in the market right now, and how it’s changing the way they evaluate companies.

The end of “pure SaaS” snobbery
One of the most striking shifts Lexar is seeing and acting on, is the rehabilitation of tech-enabled services. Two years ago, anything with a service layer was considered a dirty word in investor circles. Hardware? Forget it. The pitch was simple: software scales, services don’t. In many cases, AI has changed that narrative completely.

Lexar recently invested in Munisense, an IoT company that designs sensors paired with a SaaS platform. The sensors last ten years, the data keeps flowing, and the switching costs are enormous. That’s a moat that no AI copilot can replicate overnight.

“We spend more time asking the hard questions: will this software still be here?”
When Lexar evaluates a SaaS company today, the first question isn’t about growth rate or ARR trajectory. It’s more fundamental than that: why wouldn’t the customer just build this themselves?

Because with the barriers to building software collapsing, that question is no longer theoretical. Enterprise clients have the people, the budget, and increasingly the tools to spin up internal solutions. If your product doesn’t sit deep enough in their workflow — if it’s not wrapped in domain knowledge and customer intimacy — you’re exposed.

This is where Lexar gets hands-on. They’ve built an internal value creation framework with eight pillars, complete with playbooks, maturity scoring, and a structured onboarding process for every portfolio company. It’s not a slide deck, it’s a software platform that services as an operating system for SaaS and AI companies.. They run several assessment sessions, score companies across those eight dimensions, and then work with founders to close the gaps that matter most.

They’ve also just hired a dedicated value creation team, including an AI lead specifically to help portfolio companies accelerate their transformation.

What this means for our community
Lexar joins We Love SaaS because they understand that the best deal flow doesn’t come from cold outreach, it comes from being embedded in the conversations where founders are actually honest about what’s working and what isn’t.

For our members, it means access to an investor that thinks beyond pure SaaS orthodoxy, brings real operational support post-investment, and is actively helping companies navigate what is probably the biggest structural shift our industry has seen in a decade. Plus, in the end, working with smart people, building great products, is probably the most important part of building Lexar.

If you’re a B2B founder in the Benelux building something in SaaS, AI, or tech-enabled services, and generating €5–30M in revenue with €0 – €5M EBITDA and you want to have a real conversation rather than a pitch meeting, Lexar is worth getting to know!

Lexar is proud to announce that Peter Broekroelofs has joined as Chief Technology Officer (CTO) as of October 1, 2025.

With more than 30 years of experience, Peter has held CTO roles in both entrepreneurial start- and scale-ups like NET2GRID and in larger, often PE-backed companies such as Dynniq and Otravo. As co-founder of two ventures, including an AI start-up in healthcare, he also brings the perspective of an entrepreneur combining agility with the ability to navigate complex, international environments.

This breadth of experience has shaped Peter into more than “just” a technologist. He combines deep technical expertise with strong leadership skills, bringing vision, forward thinking and a people-first mindset. He understands how to build and scale digital products and services, create teams that flourish, and connect technology to go-to-market strategies, pricing, and commercial execution. In short: Peter sees the full picture of technology-driven growth.

At Lexar, he will apply this perspective to guide our technology strategy. He will contribute to acquisitions by assessing technology during due diligence, support portfolio companies in creating long-term value post-investment, and strengthen Lexar’s own internal tech stack. With his vision, experience, and human leadership, Peter will play a key role in shaping Lexar’s next chapter.

Beyond the office, Peter is a dedicated triathlete: proof that he has the stamina to go the distance, whether in sport or technology. With his mix of technical depth, strategic vision, and people-first leadership, he’s a strong addition to Lexar and our mission to drive impactful digital growth.

Leiderdorp, August 28, 2025 – Munisense, a Dutch market leader in cloud-native, sensor-agnostic environmental sensing monitoring SaaS platform in the water and noise domain, has secured a strategic investment from Lexar Partners (Lexar). The partnership provides Munisense with the resources and expertise to accelerate its international growth across Northwestern Europe and broaden its portfolio to deliver actionable insights across new environmental domains beyond water and noise, providing the foundation for a buy-and-build growth strategy.

Munisense will continue to operate under its trusted brand, with co-founders Hans Mulder and George Boersma remaining in leadership roles to ensure strategic continuity. With Lexar’s backing, Munisense will accelerate product development, expand its applications across environmental domains, and strengthen its ability to serve municipalities, regulators, and enterprises seeking real-time monitoring solutions.

“Our platform has always been about making complex environmental insights simple and actionable,” said Hans Mulder, Co-founder of Munisense. “With Lexar’s support, we can innovate faster and bring our technology to more customers throughout Europe.” Co-founder George Boersma added: “This step allows us to reinforce our leadership in noise and water monitoring, while expanding into adjacent fields and new geographies.”

Lexar Partners brings expertise, capital, and a strong network to guide Munisense through its next growth phase. “We were impressed by Munisense’s scalable cloud platform, designed with a platform-first architecture that supports both proprietary and third-party hardware and is reinforced by long-term customer relationships,” said James Looman, Partner at Lexar. “This strong foundation creates a unique opportunity to accelerate growth through a buy-and-build strategy, expanding into a leading environmental sensing and monitoring platform that delivers real-time, actionable insights across multiple domains.”

About Munisense

Munisense, based in Leiderdorp, the Netherlands, develops cloud-native, sensor-agnostic solutions for real-time environmental monitoring. Its technology enables municipalities, regulators, and enterprises to measure and manage noise, water, and other environmental factors with precision and scalability.

With a team of 22 professionals, Munisense has more than doubled its revenue in the past three years while maintaining strong profitability. Building on this momentum, the company is well positioned to expand internationally and play a leading role in shaping the future of environmental monitoring.

About Lexar Partners

Lexar Partners is an independent Dutch private equity firm focused on companies with a strong emphasis on innovation and digitalisation. Lexar invests in exceptional people who apply outstanding technology to transform global and growing markets digitally. This includes fast-growing and scalable businesses active in the lower mid-market with proven market potential where digitalisation makes the difference. By offering capital and active guidance, Lexar supports its partners in their phases of accelerated growth.

The investment marks the second platform investment of Lexar Partners Fund II (bringing the total number of partnerships to 10). The fund targets companies with strong growth profiles and EBITDA up to EUR 5m, with initial equity tickets typically ranging from EUR 5–20m per (initial) investment.