Precisely Funding Image by TheDigitalWay from PixabayData integrity software company Precisely has received a strategic investment from Insight Partners and Partners Group. It sees the two investors join Clearlake Capital Group LP and Centerbridge Partners as institutional investors in Precisely. No details of the transaction were given.

Josh Rogers, CEO, Precisely (Image Credit: Precisely)
Josh Rogers, CEO, Precisely

Josh Rogers, CEO of Precisely, said, “Insight and Partners Group’s investment in Precisely reflects confidence in our growth plans and ongoing expansion as the most diversified platform of scale in data integrity.

“Enterprises around the world are increasingly focused on utilizing data to make trusted business decisions. They require data with maximum accuracy, consistency, and context. With our added breadth of solutions, Precisely is uniquely positioned to deliver value to our customers across the entire spectrum of data integrity.

“We’re excited to continue our partnership with Clearlake, TA, and Centerbridge, and welcome Insight and Partners Group’s support in helping us accelerate our organic and buy-and-build strategy.”

What does this mean for Precisely?

This is a ringing endorsement for the senior management at Precisely and the business plan they are executing. It now boasts all bar one of the Fortune 100 companies as customers. It has also built a customer base of over 12,000 businesses.

There have been a substantial number of new product and partnership announcements in the last year. These have helped the company expand into new markets and strengthen its position in existing markets.

Precisely has also made four acquisitions in the last year, PlaceIQ, CedarCX, Winshuttle and Infogix. This new investment will likely mean more this year as the company looks for targets that expand its offerings. The question now is who and when?

One answer to that question could be to look at the other company that Insight Partners have in its portfolio. There are several data companies there, and the investors may look for a merger between some of them. It would certainly make sense and mean any funds would stay with the various investors.

Enterprise Times: What does this mean?

Inbound investment is always good for a business. It generally means that its strategy and execution is being recognised and that its management is on the right track.

It can also signal an end to existing investor relationships. However, this does not appear to be the case at this point. When Centerbridge sold a stake in Precisely to Clearlake, it presaged a period of growth and acquisitions. This deal is likely to mean the same, especially as neither Centerbridge or Clearlake are signalling any plans to exit Precisely.

For Precisely customers, this is also very good news. It means that there is money there for product enhancement and even new features for new markets. It is also good news for Precisely partners who can likely expect an increased push into new markets.

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