Tue, 19/11/2019 - 11:25
Foresight Group (Foresight), an independent infrastructure and private equity investment manager, has sold Idio Limited (Idio) to Episerver, a customer-centric digital experience company.
The acquisition is expected to enhance Episerver’s analytics and personalisation capabilities to deliver customer-centric digital experiences.
Idio is a content personalisation and analytics platform powering the digital buying experience of some of the world’s largest enterprise organisations. Through real-time predictive analytics, Idio helps close the gap between what customers want and what businesses can offer. Idio predicts the interests and intent of every individual buyer and automatically delivers hyper-relevant content to better engage each customer for improved business results and brand affinity.
Foresight made its initial investment in October 2016 and worked closely with the senior management team to accelerate product development, build out the sales and marketing teams and expand into the US. Foresight supported Idio through a number of follow-on investment rounds, providing the management team with the platform to make continued progress. Over that period, Idio was named by Forrester Research as a Breakout Vendor, by Gartner as a “Cool Vendor” and has more than tripled in size and established itself as a leading personalisation and analytics platform serving global B2B enterprises.
The exit, terms of which are undisclosed, delivered a circa two-times return in just three years to the Foresight Nottingham Fund and Foresight VCT Plc.
Rodney Appiah, Director at Foresight, says: “It has been a pleasure to have supported Ed and Andrew as they sought to create and grow a business in an exciting and yet emerging part of the digital marketing landscape. The combination of Idio’s content personalisation platform and Episerver’s leading content management system is a compelling one that I look forward to seeing develop in the coming years.”
Ed Barrow and Andrew Davies, Co-Founders of Idio, adds: “Idio has appreciated the support of Foresight, and the presence of Rodney Appiah on our board. Together we have built a team and technology that is delivering 1:1 personalisation at global scale."
Foresight and the Company were advised by Osborne Clarke and Canaccord Genuity.
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