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Fenergo to Receive Significant Investment from Insight Venture Partners to Fuel Global Growth
Fenergo to Receive Significant Investment from Insight Venture
Partners to Fuel Global Growth
$75 million invested in Client Lifecycle Management software solution provider
14th July 2015, Dublin, Ireland - Fenergo, the leading provider of Client Lifecycle
Management software solutions for investment banks, capital market firms and private
banks, has announced today that Insight Venture Partners, a New York-based private
equity and venture capital firm, has agreed to invest $75 million in the company. The
transaction is expected to close within the next few weeks.
The new capital will be used to grow the company’s global footprint and presence in
new and existing international markets and develop a partner ecosystem, which
includes establishing Fenergo University and Consulting Accreditation Program to
empower partners to implement Fenergo solutions. Continued investment will be made
in R&D to make Fenergo Client Lifecycle Management and Regulatory Onboarding the
Financial institutions are grappling to understand and comply with new and changing
regulatory obligations, resulting in the inability to onboard legal entity clients in a timely
and cost effective manner. Fenergo’s Client Lifecycle Management and Regulatory
Onboarding solutions address this challenge by centralizing client and counterparty data
to support regulatory compliance, onboard clients efficiently and quickly, and ensure
legal entity compliance through the client’s full lifecycle with the bank.
Fenergo has emerged as a market leader in the Client Lifecycle Management solutions
space for financial institutions, with year-over-year growth of 100% for the last three
consecutive years. Headquartered in Dublin, Ireland, the company has recently
expanded globally to include offices in London, New York, Boston, Sydney and Wroclaw.
Fenergo serves a worldwide base of financial customers including Scotiabank, Bank of
Montreal, State Street, SunTrust, Barclays and Royal Bank of Canada.
“We are thrilled to have a firm like Insight Venture Partners join our team,” said Marc
Murphy, CEO of Fenergo. “Having undergone significant growth over the last few years,
Fenergo has proven that it can deliver the solutions that financial institutions need and
want to solve challenges around regulatory onboarding and client lifecycle
management. Based on this demand, the market is encouraging us to find a strategic
partner that will enable us to become the industry standard for Client Lifecycle
Management solutions. We believe we have found that partner in Insight Venture
Partners and we look forward to working closely with them as we scale our business
into the global industry standard”.
“Fenergo is an organization with a leading brand, product, and management team,” said
Peter Sobiloff, Managing Director at Insight Venture Partners. “We are pleased to
partner with the company’s team in order to achieve continued growth and innovation
in the Client Lifecycle Management solutions market.”
About Fenergo (www.fenergo.com):
Fenergo is an award-winning provider of enterprise Client Lifecycle Management
platform solutions designed to help financial institutions to manage the end-to-end
regulatory onboarding process – from onboarding, to management of client and
counterparty data and regulatory compliance with existing and emerging regulations. In
2015, Fenergo made its debut on the Chartis RiskTech100®, the list of the top 100 risk
technology providers in the world. In 2014, the company picked up the award for Best
Enterprise Data Management Initiative from Inside Reference Data and was awarded
Outstanding Achievement in International Growth by the ISA. Other accolades include
Technology Innovation of the Year (ISA, 2013) and Best Customer Onboarding Solution
(The Compliance Register, 2012).
About Insight Venture Partners:
Insight Venture Partners is a leading global venture capital and private equity firm
investing in high-growth technology and software companies that are driving
transformative change in their industries. Founded in 1995, Insight has raised more than
$10 billion and invested in more than 200 companies worldwide. Our mission is to find,
fund and work successfully with visionary executives providing them with practical,
hands-on growth expertise to foster long-term success. For more information on Insight
and all of its investments, visit http://www.insightpartners.com or follow us on twitter: