Growth capital investor exits long term software investment
A UK active growth capital investor has announced the exit of its investment in long-term portfolio company, Abacus Software Ltd.
Abacus is a content and subscription management software provider with proprietary Customer Data Platform and Digital eXperience Platform offerings.
The London-based business helps brands and communities in the publishing and membership organisation sectors improve revenue and engagement with personalised digital experiences and offers. BGF backed Abacus in 2013, and has over the last nine years, provided close to £4m of growth capital.
During this time, BGF’s investment has enabled the business to increase its sales and marketing activity, accelerate the development of its software platforms, and expand its offering into adjacent markets including B2C publishing, professional institutions and events.
Founded in 1978, Abacus employs 55 people across offices in London and Portsmouth. Its customers include some of the most influential media companies and professional bodies with key clients including Ascential, Newsquest, DVV Media and the Royal Chemistry Society.
Al Bird, CEO of Abacus, said: “BGF has been a supportive partner to the business over the last nine years and has helped us to launch valuable innovations to new clients while also transitioning our business model to a fully SaaS-based technology platform.
“These developments have helped to reposition the company at a critical time in the subscription services market and set us up for international growth. We have benefited from the investment team’s long-term, minority approach, and now look to the future with a real sense of enthusiasm following our partnership with new investors, Naviga.”
William Gresty, investor at BGF, said: “It’s been a pleasure to work with Al Bird and the rest of the Abacus team since 2013. As one of our longest standing investees, we have helped the business to grow and evolve as a key partner to some of the biggest names in the media and publishing sectors.
“The business is now well positioned for future growth, and we wish them all the best on the next stage of their journey.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.