Funds managed by YFM Equity Partners (YFM) have completed a multi-million pound investment into London-based planning and forecasting software and services business Vuealta from its managed VCTs, British Smaller Companies and British Smaller Companies 2, and Growth Fund III to enable further growth and overseas expansion.
Vuealta was founded in 2017 and delivers scenario planning and forecasting solutions for supply chain, finance and operations. The business has grown rapidly to a team of 70 staff, with offices in four countries spanning the EMEA, North America and APAC regions.
Vuealta works with customers across a wide range of sectors including global direct-to-consumer beauty company Glossier, growing consumer finance provider NewDay, co-operative dairy company Fonterra and outdoor gear specialist Helly Hansen.
The investment backs the experienced founders and management team to continue their global expansion strategy alongside US-based Anaplan. Vuealta is an Anaplan Gold Partner and has a seat on the Anaplan Global Strategic Council.
Founded in 2017 by seasoned entrepreneurs Ian Stone (CEO) and Adam Bimson (CCO), the Vuealta proposition has rapidly gained traction and is delivered via the GBP7 billion market cap Anaplan platform, leveraging its growing market position in business planning software with a worldwide customer base.
As part of the investment, private technology investor Dominic Ely, who has worked with numerous technology businesses during stages of high growth, will invest alongside YFM and become non-Executive Chair.
“YFM is backing the vision of Ian, Adam and the excellent team they have built, on the back of the rapid progress they have made in a growth market. Vuealta is a really compelling proposition that is hugely relevant in a post-Brexit and Covid global market,” says YFM partner David Wrench who led the investment from YFM.
“Vuealta’s position as a key partner to leading cloud-native planning platform Anaplan, which itself is seeing huge traction, gives it a fantastic opportunity to scale with the support of a multi-billion US-based disruptor. We are excited to be involved in this next stage of growth of an innovative British technology business with ambitious global plans, and add to our evolving stable of high-growth UK tech investments,” he adds.
Vuealta’s Ian Stone previously founded Vue Analytics, a CPM software venture that he sold to Anaplan in 2013 before becoming the US firm’s UK & Ireland managing director. Stone launched Vuealta in 2017 with ex-McKinsey executive and Anaplan colleague Bimson.
“YFM are a great partner for Vuealta at a crucial stage of our development, and their investment will ensure that we can resource the business to take advantage of the opportunities we have to scale rapidly. Their track record with similar sized ambitious technology businesses was a key factor in our decision to partner with them,” says Stone.
Bimson adds: “We want to build on our progress in the UK, and in the US and Asia Pacific where we have seen great early traction and need to resource expansion. YFM understand the opportunity to capitalise on what we have built to date to grow alongside the Anaplan business and platform.”
The YFM team comprised David Wrench, Tiffany Young and Jamie Roberts. Rachel Turner and Bronia Richards of HCR Law provided legal advice and due diligence; Sam Phillips and Tom Slade of PKF Francis Clark led financial due diligence; Lucy Green of Larato provided commercial due diligence; and Richard Joyce and Munyaradzi Masumba of Grant Thornton led technical due diligence. Organisational due diligence was handled by Anna Cornwallis of Stratton HR; insurance due diligence by Kevin Stout of Lockton; and VCT advice came from Philip Hare and Alison Caulfield of Philip Hare & Associates.
The company was advised by Wendy Hart and Ricky Collis from HMT and Stephen Fuller from Ince.