insightsoftware, a privately held, fast growing firm focused on providing solutions focused on financial operations and chief financial officers’ needs, has landed a huge $800 million investment from global investment firm Hg.
As a private equity investment, the deal is one of the largest ever in North Carolina with Cary-based Epic Games’ multiple $1 billion investments ranking larger.
insightsoftware is owned by TA Associates and has made 18 acquisitions over the past three years, expanding to a global footprint of operations. The firm was formed in 2018.
ingishtsoftware is now valued at some $4 billion, its backers said.
“TA and Hg will share joint control,” the company said in the announcement.
insightsoftware provides financial reporting and enterprise performance management (or EPM) and enterprise resource planning (ERP) software.
“insightsoftware is a great example of a best-in-class team of software experts coming together to create a cloud platform that drives better business outcomes for thousands of customers around the world,” said Nic Humphries, a senior partner at Hg. ” The business sits right at the heart of a cluster – tax and accounting software – that we have been investing in for almost two decades and we look forward to bringing this experience to the rest of team.”
The company has more than 1,000 employees and provides services to some 28,000 customers.
“insightsoftware has been a rocket ship of growth since TA and ST6 created the business just over three years ago. Hg’s expertise with ERP providers and presence in Europe will add additional fuel to our growth,” said Jim Triandiflou, insightsoftware’s CEO. “Together we will be able to give companies around the world the financial confidence to pursue their missions.”
Original Source: WRAL TechWire