Abry Partners, a Boston-based private equity firm, has taken a substantial stake in global Oracle partner Inoapps, resulting in joint control with founder and CEO Andy Bird.
The investment will accelerate both acquisition-based and organic growth, as well as continue to drive the innovation of new services and increase headcount.
As part of the deal, previous investors BGF will exit its investment in Inoapps, having realised a 4.5x return on the investment made in 2013. The £10 million funding from BGF enabled Inoapps to increase its global presence dramatically, particularly in the US and Asia, investing in developing expertise and technology in the Oracle stack.
