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Louisville, KY, New York, NY and Santa Monica, CA, April 09, 2019 (GLOBE NEWSWIRE) -- Appriss Holdings, Inc. (“Appriss” or the “Company”) today announced that leading private equity firm Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) will make a significant new equity investment in the Company to further support Appriss’s rapid growth and expansion into new markets. With the investment, Clearlake will become an equal partner in Appriss alongside management and Insight Partners, which invested in Appriss in 2014.
“Appriss is excited to welcome Clearlake, another premier investor, as we continue our mission to leverage data and analytics to solve some of the world’s hardest problems surrounding crime, fraud and addiction. Clearlake and Insight Partners’ strong partnership will enable us to continue delivering differentiated solutions to the market,” stated Michael Davis, CEO of Appriss. “Appriss has always counted on its deep and trusted relationship with customers to identify ways in which technology and analytics can tackle problems. With these leading investment firms, we expect to increase the rate at which we invest in our solutions, both in our current markets and in new opportunities.”
Since its founding in 1993, Appriss has focused on leveraging unique data and analytics to tackle issues related to crime, fraud and addiction. With thousands of customers spanning federal, state and local governments, health systems and retailers, Appriss supports users in over 40 countries.
Deven Parekh, Managing Director at Insight Partners, stated, “Since our investment five years ago, Appriss has significantly expanded its breadth of data services and analytics and rapidly grown its addressable market. Under Insight’s guidance, Michael and his team have been able to execute on an organic and inorganic growth strategy that has delivered accelerated growth as Appriss continues to solve difficult problems for a greater number of customers than ever before. We look forward to having Clearlake join us to continue supporting Appriss’s “knowledge for good™” platform.”
Behdad Eghbali, Co-Founder and Managing Partner at Clearlake, commented, “Clearlake is thrilled to partner with the world-class management team at Appriss, and join Insight Partners as the Company’s lead investors. We see a significant opportunity to build upon Appriss’s leadership position as a provider of critical data and analytics and accelerate its rapid growth. We look forward to leveraging our O.P.S.® approach to further support Michael and his team as they find new ways to make data and analytics serve a critical purpose in solving real world problems.”
The transaction is expected to close in the second quarter of 2019. Golub Capital, Antares Capital and Bain Capital Credit provided fully committed financing for the transaction. William Blair and Jefferies served as co-financial advisers to Appriss and Insight Partners. Macquarie Capital and UBS Investment Bank served as financial advisers to Clearlake.
Appriss is a leading provider of data and analytics solutions that deliver Knowledge for Good. Its customers include public and private enterprises who are focused on public safety, fraud prevention and substance abuse. Its integrated workflow solutions serve thousands of government and law enforcement, healthcare providers and large commercial enterprises across the globe. Appriss plays a key role in keeping people safe, helping to identify criminal activity, and providing critical healthcare related insights to prevent and manage substance abuse. For more information visit www.appriss.com.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.®. The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $8 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com.
Aaron Davis Appriss +1 502-815-3826 email@example.com Kristin Celauro Blicksilver Public Relations, Inc. for Clearlake +1 732-433-5200 firstname.lastname@example.org Jennifer Hurson Blicksilver Public Relations, Inc. for Clearlake +1 845-507-0571 email@example.com MWWPR for Insight Partners +1 646-376-7037 firstname.lastname@example.org