Technology Intelligence vendor HG Insights closed on an equity round with Riverwood Capital. Neither the size nor the valuation was disclosed.
HG Insights employs natural language processing and machine learning to develop account intelligence concerning technology installations, IT budgets, and contract information for eleven million global companies across 14,000 products.
“Our customers have come to rely on HG Insights as an indispensable input into their most strategic decisions such as market sizing, whitespace analysis, and territory planning as well as for fundamental activities including opportunity prioritization and account-based marketing intelligence. Our rapid growth over the last two years is fueled by the depth and breadth of benefits we provide to B2B technology companies, globally. Riverwood’s investment is a vote of confidence in our future. It gives us flexibility and access to resources to help accelerate our growth and capitalize on the exciting opportunity before us.”HG Insights CEO Elizabeth Cholawsky
Riverwood is a Technology-focused growth-equity firm with $3.5 billion in assets under management. Riverwood says that it offers “a unique combination of operational, strategic, technological, and financial insight to portfolio companies that need both growth capital and expertise in order to scale.”
Riverwood Capital Managing Partner Jeff Parks said, “HG Insights represents a golden opportunity for Riverwood to continue to use our capital and expertise to accelerate the growth of innovative technology companies addressing demonstrated but unmet market needs. Elizabeth and her team have built an organization poised to disrupt the traditional go-to-market process for companies of virtually any size, and we’re very excited about the potential of this partnership.”
HG Insights just closed on a successful year, reaching its highest annual recurring revenue and profitability. Employment rose 30% last year, and revenue grew over 35%. While HG Insights continues to license its firmographics to other vendors, its growth has been focused on direct sales of technographics and analytics to customers.
“Customers continue to reaffirm that HG Insights’ data’s breadth, depth, and coverage accuracy has become an indispensable asset for critical decision making at every level of a technology company,” commented Riverwood Principal Ramesh Venugopal. “HG Insights provides unique, data-driven knowledge giving decision-makers confidence that they are making the right choices.” Jeff Parks and Ramesh Venugopal have joined HG Insight’s Board of Directors