Los Angeles- (Business Wire)–Global private equity firm OpenGate Capital announced today that it has withdrawn from its investment in InRule Technology® (“InRule”), a market-leading intelligent automation platform, through the sale to Pamlico Capital. Financial terms were not disclosed.
Headquartered in Chicago, Illinois, InRule provides integrated decision-making, machine learning and process automation software that enables IT and business leaders to make better decisions faster, implement machine learning and improve complex, mission-critical processes.
The initial investment in OpenGate was made in 2019, marking InRule’s first institutional funding round. Over the past three years, OpenGate has backed significant product and go-to-market investments while partnering with InRule’s management team on buy and build automation papers, resulting in two highly strategic additional acquisitions. These additions enhance InRule’s platform capabilities, expand its geographic footprint and advance its leadership in enterprise automation.
“Automation is becoming increasingly important for effective business governance and cost-effective decision-making, and InRule represents how powerful this technology is,” commented Andrew Nikou, founder and CEO of OpenGate Capital. “The InRule investment is a great example of our strategy being implemented by integrating thematic sourcing, thoughtful mergers and acquisitions and operational value creation.”
Rob Young, Principal at OpenGate Capital, said: “InRule has been an excellent partner over the past three years with strong product, customer and revenue growth. It is a pleasure to work with Rik and the entire management team through multiple “acquisitions and operations” Improve. InRule’s people and products are world-class, and I look forward to seeing the company continue to succeed in its next chapter. ”
Rik Chomko, InRule’s co-founder and CEO, added: “Partnering with OpenGate to transform InRule by offering our customers an expanded portfolio of mission-critical solutions has really made a lot of sense. Building on the momentum we’ve built in recent years. Building on the foundation of our company, I’m excited to begin working with Pamlico Capital as we continue to build on our capabilities and drive our growth story.”
Raymond James is serving as financial advisor and Massumi + Consoli LLP is serving as legal advisor to OpenGate Capital.
About InRule Technology, Inc.
InRule Technology is an intelligent automation company that provides enterprises with integrated decision-making, machine learning and process automation software. The InRule® Intelligent Automation Platform empowers IT and business leaders to make better decisions faster, implement machine learning and improve complex processes to increase productivity, increase revenue and deliver superior business outcomes. More than 500 organizations worldwide rely on InRule for mission-critical applications. Since 2002, InRule Technology has been delivering measurable business and IT results. Learn how to automate at www.inrule.com.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in corporate acquisitions and operations, creating new value through operational improvement, innovation and growth. Founded in 2005, OpenGate Capital is headquartered in Los Angeles, California, with a European office in Paris, France. OpenGate professionals have the critical skills needed to acquire, transform, operate, build and scale successful businesses. To date, OpenGate Capital has executed more than 30 acquisitions in North America and Europe. To learn more about OpenGate, visit www.opengatecapital.com.