OpenGate Capital, a global private equity firm, announced today that it has closed its investment in InRule Technology® (“InRule”), a market-leading intelligence automation platform, through a sale to Pamlico Capital. Financial terms were not disclosed.
Headquartered in Chicago, Illinois, InRule provides integrated decision-making, machine learning, and process automation software services that enable IT and business leaders to make better decisions faster, operationalize machine learning, and improve complex processes and missions -critical.
OpenGate's initial investment took place in 2019 and marked InRule's first institutional capital raising. Over the past three years, OpenGate has made significant investments in products and go-to-markets, collaborating with InRule's management team on a buy-and-build automation thesis that led to two additional highly strategic acquisitions. The acquisitions have enhanced the capabilities of the InRule platform, expanded its geographic presence and elevated its position as a leader in the business automation sector.
“Automation is becoming increasingly essential for effective corporate governance and cost-effective decision making, and InRule represents how powerful this technology can be,” commented Andrew Nikou, founder and CEO of OpenGate Capital. "The investment in InRule is a prime example of our strategy in action through the integration of thematic sourcing, thoughtful M&A and operational value creation."
“InRule has been an exceptional partner over the past three years and has experienced strong product, customer and revenue growth,” said Rob Young, Principal of OpenGate Capital. “It has been a pleasure to work with Rik and the entire management team through multiple acquisitions and operational improvements. InRule's people and products are world-class and I look forward to seeing the continued success of the company in its next chapter ”.
InRule co-founder and CEO Rik Chomko added, “It has been truly rewarding to partner with OpenGate to transform InRule, delivering an expanded portfolio of mission-critical solutions for our customers. Building on the momentum we have established over the past few years, I am thrilled to start working with Pamlico Capital as we continue to build our capabilities and advance our growth story. ”
Raymond James served as financial advisor and Massumi + Consoli LLP as legal advisor to OpenGate Capital.
InRule Technology is an intelligence automation company that provides integrated decisioning, machine learning, and process automation software to businesses. By enabling IT and business leaders to make better decisions faster, operationalize machine learning, and improve complex processes, InRule®'s intelligence automation platform increases productivity, drives revenue, and delivers exceptional business results. More than 500 organizations worldwide rely on InRule for mission critical applications. Since 2002, InRule Technology has delivered measurable business and IT results.
OpenGate Capital is a global private equity firm specializing in acquiring and managing businesses to create new value through operational improvements, innovation and growth. Founded in 2005, OpenGate Capital is headquartered in Los Angeles, California, with a European office in Paris, France. OpenGate professionals possess the critical skills needed to acquire, transition, manage, build and scale successful businesses. To date, OpenGate Capital has made more than 30 acquisitions in North America and Europe.
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