Investcorp acquires CloudCare

Investcorp, a global provider and manager of alternative investment products, has acquired CloudCare. Terms of the transaction have not been disclosed.

Established in 2011 and headquartered in Rome, Italy, CloudCare is a tech-enabled platform active in the energy, telecommunications and insurance markets where it operates as a channel partner and digital broker, connecting consumers and service providers through both its own proprietary online platform and clients’ web platforms. CloudCare’s website, Comparasemplice.it, is a leading online platform for consumers in Italy to compare prices for energy, telecommunications, motor insurance and personal finance products. The Company’s differentiated proposition is underpinned by a proprietary Customer Relationship Management software fed by a large internally developed data base, a unique customer service platform powered by artificial intelligence and an end-to-end approach to generate sales leads and maximise conversion through its multichannel platform. Over the past three years, CloudCare achieved an average annual revenue growth in excess of 40 per cent.

CloudCare is a digital innovator with long-standing relationships with the leading energy, telecommunications and insurance operators in the Italian market. The investment by Investcorp is indicative of the significant market opportunity associated with process digitalisation and the rise in importance of digital distribution channels.

CloudCare’s founder and CEO, Andrea Conte, will continue to lead the Company, having retained a meaningful stake in CloudCare alongside Investcorp.

Nicola Ferraris, Managing Director in Investcorp’s European Private Equity group, said: “We are delighted to be partnering with Andrea Conte and CloudCare as the Company moves into its next phase of growth. We have an ambitious plan to support the Company as it continues to grow within its core verticals and expand into new market segments. CloudCare has built a unique technology infrastructure and expertise which has enabled the business to become a reliable and value-add digital partner for its corporate clients seeking to enhance their digital customer acquisition strategy. We look forward to working with Andrea and his team to support the business in its growth ambitions and bring to fruition many of the exciting opportunities that lie ahead.”

Andrea Conte, founder and CEO of CloudCare, adds: “As we consider our vision for the future, we are excited and optimistic for the support and breadth of experience Investcorp will bring in the next phase of our evolution. We have identified a partner which is a global investor with deep technology expertise and an international investment track record that spans almost 40 years. Our business has experienced exceptional growth over the past several years, and with Investcorp’s history of supporting fast growing and innovative companies, we are confident we can accelerate growth within and beyond our target core markets, reinforcing our market position in the energy and telco markets, and broadening the products and services we are able to offer also to the insurance and financial markets.”

The investment in CloudCare adds to Investcorp’s long-standing track record  of partnering with leading technology-enabled services companies globally and in Europe specifically,  including: Investis Digital, a global digital corporate communications and marketing company; Vivaticket, a leading global provider of tech-enabled ticketing management solutions; Cambio, the leading Health Tech provider in Scandinavia; ABAX, a leading telematics solutions provider in Europe; and SecureLink, one of Europe’s largest dedicated cybersecurity infrastructure and managed services providers.