K1 Investment Management (“K1”), a leading investor in small-cap enterprise software companies, has announced a strategic growth investment in Board Intelligence, a prominent board management software platform. This investment is set to bolster Board Intelligence’s position in the market through organic growth, product development, geographic expansion, and strategic acquisitions.
- About Board Intelligence:
- Headquarters: United Kingdom.
- Client Base: Over 40,000 leaders across 3,000 organizations globally, including Generali, Schroders, Nationwide, Zurich Insurance Group, Aston Martin, Sage, and the National Health Service (NHS).
- Founders: Jennifer Sundberg and Pippa Begg (established in 2010).
- Product and Services:
- Board Portal: A secure system for board members to access and collaborate on board documents.
- Lucia: An AI-powered report-writing platform for creating concise reports.
- Investment Details:
- Strategic Goals: Strengthen market position, support product and geographic expansion, and pursue strategic acquisitions.
- K1’s Role: K1 will be the only institutional shareholder, with Sundberg and Begg remaining as minority shareholders. Financial terms were not disclosed.
- Statements:
- Brian Beard, K1: Praises Board Intelligence’s innovative approach and market leadership, expressing confidence in their continued success.
- Jennifer Sundberg, Co-Founder and Co-CEO: Emphasizes the mission to enhance board effectiveness and values K1’s vision and expertise.
- Pippa Begg, Co-Founder and Co-CEO: Highlights the strategic benefits of partnering with K1 for global scaling and AI investment.
- Recent Transactions:
- Previous Sale: GoCanvas sale to Nemetschek Group contributing to $1.7 billion in liquidity since December 2023.
- Legal Advisors: Fieldfisher LLP and Cooley LLP for Board Intelligence; Kirkland & Ellis LLP for K1.
K1’s strategic investment in Board Intelligence is poised to accelerate growth and innovation in board management software. By leveraging K1’s operational expertise and resources, Board Intelligence aims to enhance its product offerings and expand its global footprint, reinforcing its position as a leader in the industry.
