Partnership with K1 to drive the next phase of
growth for Board Intelligence, enhancing its leading
board collaboration platform for clients worldwide
MANHATTAN BEACH, Calif. and LONDON, Aug. 5, 2024
/PRNewswire/ -- K1 Investment Management ("K1"), one of the
largest investors in small-cap enterprise software companies, today
announced a strategic growth investment in Board Intelligence, a
leading board management software platform. This investment allows
Board Intelligence to strengthen its category-leading position
through organic growth, product and geographic expansion and
strategic acquisitions.
Headquartered in the United
Kingdom, Board Intelligence is trusted by over 40,000
leaders across 3,000 organizations worldwide. Clients include
global organizations such as Generali, Schroders, Nationwide,
Zurich Insurance Group, Aston Martin and Sage alongside major
public sector organizations such as the National Health Service
(NHS).
Established in 2010 by founders Jennifer
Sundberg and Pippa Begg,
Board Intelligence provides software and services that drive better
board decision-making. Board Intelligence serves as a trusted
advisor to Fortune 500 and Global 2000 chairs and CEOs, helping to
optimize board performance. The Board Intelligence board portal is
a highly secure system of record, used by board members worldwide
to access and collaborate on their board documents. Lucia, an
AI-powered report-writing platform, assists management teams in
preparing shorter, sharper reports for their boards.
"We are thrilled to partner with Jennifer and Pippa to build on
Board Intelligence's strong market position," said Brian Beard, K1. "We have followed their journey
for over five years and their dedication to improving boardroom
decision-making with innovative AI tools and strategic insights is
remarkable. Our investment is a reflection of their category
leadership and our confidence in extending that leadership position
across corporate clients and public sector organizations
globally."
Jennifer Sundberg, co-Founder and
co-CEO of Board Intelligence, said: "Our mission is to
transform the effectiveness of every board in the world. K1's
vision for the future of Board Intelligence and their proven
expertise in building category leaders will be instrumental in
expanding the value we deliver to our clients."
Pippa Begg, co-Founder and co-CEO
of Board Intelligence added: "While we have been profitable
and did not need capital, we partnered with K1 because of their
operational expertise in scaling companies globally through organic
and inorganic growth, and their increasing investment in AI. K1 has
a history of building category leaders, and we are excited to
leverage their experience to strengthen our product
offering."
K1 will assume the position of the only institutional
shareholder in Board Intelligence with both Jennifer Sundberg and Pippa Begg continuing as minority shareholders.
Financial terms of the transaction were not disclosed.
Board Intelligence is K1's latest transaction following the
recent sale of GoCanvas to Nemetschek Group (FRA:NEM). The sale of
GoCanvas contributed to K1's recent period of successful
realizations, culminating in $1.7B of
liquidity since December 2023.
Fieldfisher LLP and Cooley LLP served as legal advisors to Board
Intelligence, while Kirkland & Ellis LLP served as legal
advisor to K1.
About Board Intelligence
Board Intelligence, the UK's largest board technology and
advisory firm, is trusted by over 40,000 leaders
and 3,000 organizations from Fortune 500 and FTSE 100
corporates, to drive high-impact decision making and governance.
For more information, visit BoardIntelligence.com and follow on
LinkedIn.
About K1
K1 is one of the largest investors in small-cap enterprise
software companies. Headquartered in Manhattan Beach, California, K1 partners with
strong management teams of high-growth software businesses,
utilizing operationally-focused growth strategies to rapidly scale
portfolio companies. Dedicated to transforming industries and
driving productivity, K1 has collaborated with over 240 enterprise
software companies since inception.
K1's exclusive focus, driven by its single team, single office,
and single fund strategy, has resulted in realizations for many of
its portfolio companies. Examples include Apttus (sold to
Thoma Bravo), Buildium (sold to
RealPage, NASDAQ: RP), Certent (sold to insightsoftware), Checkmarx
(sold to Insight Partners and Hellman & Friedman), Clarizen
(sold to Planview), FMG Suite (sold to Aurora Capital Partners),
GoCanvas (sold to Nemetschek Group, FRA: NEM), Granicus (sold to
Vista Equity Partners and Harvest Partners), Inthinc (sold to
Orbcomm, NASDAQ: ORBC), Litera (sold to Hg Capital), Rave Mobile
Safety (sold to TCV; now owned by Motorola Solutions, NYSE: MSI),
TeamDynamix (sold to Level Equity), Unified (now owned by
iHeartMedia), WorkForce Software (now owned by Insight Partners and
Elliott Investment Management), and Zapproved (sold to
Exterro).
For more information, visit k1.com and follow K1 Investment
Management on LinkedIn.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/k1-announces-strategic-growth-investment-in-ai-powered-board-management-software-platform-board-intelligence-302214909.html
SOURCE K1 Investment Management