PERTH,
Australia and MENLO PARK,
Calif., July 24, 2024 /PRNewswire/ -- INX
Software, an Australian leader in compliance, workforce management,
training and reporting software for complex and high-risk
industries, has announced the successful closing of a significant
equity investment from Accel-KKR, a technology-focused private
equity firm.
The investment, which gives Accel-KKR majority ownership in INX
alongside management, will spur global expansion of the risk,
compliance, logistics, training and reporting technology
business.
Perth-based INX Software
supplies world-class solutions to some of Australia's biggest companies, especially
those with complex, fast-paced and remote operations. INX has a
suite of software solutions used in mining, manufacturing, health,
government and other large organisations.
Chief Executive Officer Marcus
Ashby welcomed the investment and said that while INX would
remain based in WA, it now had a partner that could accelerate
access to global markets.
"INX Software will remain a home-grown, Western Australian
technology company, but will now have access to the additional
resources that Accel-KKR can deliver," Mr. Ashby said.
"Our customers work in fast-paced, high-risk environments and
they trust us to understand their challenges, deliver effective
solutions, and be responsive to their changing needs.
"At the same time, our customers are also growing, and they need
solutions that can scale with them, including work across borders
and in multiple jurisdictions.
"It's why we're excited to announce this investment, which will
unlock new opportunities to further develop our software solutions
and meet customer needs today and tomorrow. Accel-KKR is known for
their expertise for supporting software companies on their quest
for global growth, so INX is well positioned to grow and scale with
our new partner. I thank our previous backers, Tanarra Capital, for
their support to date."
The investment in INX comes after nearly two dozen investments
for Accel-KKR in Australia in
recent years, including partnerships with Humanforce, Uptick and
Reapit ANZ. Accel-KKR's investment with Seequent, a New Zealand-based geological modelling
software company, was named Buyouts' 2021 International Deal of
the Year.
"INX provides mission-critical solutions that allow customers to
run vital day-to-day operations, keep up with ever-evolving
regulatory requirements and grow across multiple jurisdictions
without missing a beat," said Dean
Jacobson, Managing Director at Accel-KKR.
"Given our experience in vertical software, helping companies
expand their markets and deliver innovative products, we look
forward to helping INX on the next phase of growth."
This deal comes at a time of sustained growth for INX, where it
has doubled its annual recurring revenue (ARR) in four years to
FY2025 and today serves more than one million users across the
globe.
Under the terms of the sale, the price has not been
disclosed.
About INX Software
INX Software enables businesses in
fast-paced and complex industries to mobilise their workforce and
navigate health, safety and environmental challenges to better
protect people and the planet.
Based in Perth, Western Australia, we are globally trusted
leaders in the delivery of workforce management, environment,
health and safety software solutions, supporting our clients in the
operation of safer, smarter and sustainable workplaces. We provide
solutions across industries, including resources, oil & gas,
transport, energy & utilities, engineering, manufacturing and
government sectors.
About AKKR
Accel-KKR is a technology-focused
investment firm with $19 billion in
cumulative capital commitments. The firm focuses on software and
tech-enabled businesses, well-positioned for top-line and
bottom-line growth. At the core of Accel-KKR's investment strategy
is a commitment to developing strong partnerships with the
management teams of its portfolio companies and a focus on building
value alongside management by leveraging the significant resources
available through the Accel-KKR network. Accel-KKR focuses on
middle-market companies and provides a broad range of capital
solutions, including buyout capital, minority-growth investments,
and credit alternatives. Accel-KKR also invests across various
transaction types, including private company recapitalizations,
divisional carve-outs and going-private transactions. Accel-KKR's
headquarters is in Menlo Park,
with offices in Atlanta,
Chicago, London, and Mexico
City. Visit accel-kkr.com to learn more.
Contact
For Accel-KKR
Todd Fogarty
Kekst CNC
P: 1 917 992 1170
todd.fogarty@kekstcnc.com
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SOURCE Accel-KKR