One of the investments made by Conviction Investment Partners (CIP) of Akkroo has been acquired by US-based Integrate, with investors offered the opportunity to acquire a further £2.4m of stock in the business.
CIP led the £1.75m Series A round of funding in June 2018, with CIP investing £1.5m and existing investors the remaining £0.25m.
Integrate acquired Akkroo as part of its expansion plans in Europe, and the merger is expected to deliver significant synergies to both companies facilitating numerous cross-selling opportunities and respective global roll outs.
CIP offers ‘just in time’ finance to a select number of fast-growing companies, rather than providing large blocks of capital upfront to companies that employ the Cloud to build disruptive Software as a Service (SaaS) based model.
It also means that syndicate investors can take smaller positions and add to them only when and if the investee companies hit their high growth targets.
Andrew Jenkins, founding shareholder at CIP, said: “Integrate is the world’s leading provider of demand marketing orchestration software, which supports large enterprises to manage business leads generated by digital marketing.
“There is a real synergy between Integrate and Akkroo with significant growth projections for the merged entity.”
This merger sees the Akkroo and Integrate platforms combine, providing existing Integrate customers with access to Akkroo’s event lead management solution whilst enabling Integrate to further their strategy to unify all ‘top of funnel’ channels for B2B marketers.
Jeremy Middleton CBE, Managing Director of Middleton Enterprises Limited, added: “We are high conviction investors, hence the name Conviction Investment Partners.
“Both Andrew and I act as lead investors and always personally invest, and we increased our personal positions in the merged entity.”