TMCnet News
Genstar Capital Makes Strategic Growth Investment in insightsoftwareSAN FRANCISCO, Aug. 14, 2019 /PRNewswire/ -- Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrial technology, and software industries, announced today an investment in insightsoftware, the market leader in enterprise resource planning (ERP) and enterprise performance management (EPM) reporting software. With direct integrations to over 140 ERPs and EPMs, insightsoftware addresses an $8 billion market for financial and operations performance reporting. Headquartered in Raleigh, N.C., with offices around the world, the company has more than 450 employees to serve over 375,000 global users. insightsoftware solutions complement ERP and EPM systems by enabling real-time automated reporting, data syncing and analytics for hundreds of scenarios. With pre-populated templates deployed via the web or Microsoft Excel, users can be up and running in days, not months, driving better business outcomes. Eli Weiss, Managing Director of Genstar, said, "Mike Lipps and his team at insightsoftware have built a great company with impressive momentum and future growth potential. The company's products deliver compelling value to customers with immediate ROI for operational and financial reporting. With Genstar's investment, we will help the company extend its leadership in reporting while enabling new avenues for growth, including global expansion." "We are fortunate to attract this level of investment and attention so early into our company's formation," said Mike Lipps, CEO of insightsoftware. "Genstar's capital infusion validates the growth strategy we embarked upon with TA Associates in 2018, the capabilities of our team, and the value we deliver for our customers and ERP partners every day." Hythem El-Nazer, Managing Director of TA Associates, said, "This first year has been exciting and we are proud of the tremendous progress and growth acieved. We look forward to continuing our investment alongside Genstar Capital, helping insightsoftware expand into new geographic regions, including EMEA and APAC, and new product categories such as planning and forecasting." Mark Friedman, Executive Chairman of insightsoftware and Managing Director of ST6 commented, "With the formation of insightsoftware, we created a business that could solve the pain of millions of ERP users. With a focus on our ERP partners and cloud reporting, we continue to bolster product adoption. The ST6 team was really impressed with Mike and the management team and having personally worked with both Genstar Capital and TA Associates, I know this complementary partnership will enable us to build the world's largest provider of ERP and EPM reporting software." About insightsoftware About Genstar Capital About TA Associates About ST6 View original content to download multimedia:http://www.prnewswire.com/news-releases/genstar-capital-makes-strategic-growth-investment-in-insightsoftware-300901185.html SOURCE insightsoftware |