Alpine Investors (“Alpine”), a private equity firm focused on software and services businesses, today announced that Cleo Communications (“Cleo”), a global provider of ecosystem integration solutions, is receiving a significant growth investment from an affiliate of H.I.G. Capital (“H.I.G.”), a global private equity and alternative assets investment firm. As part of the partnership, Alpine is exiting its investment in Cleo.
Since 2012, Cleo has become the global leader of the ecosystem integration software category through investment and innovation. During this time, Cleo completed two strategic add-ons, increased its total addressable market, and shifted the entire product suite to a SaaS-based cloud offering that has become the market standard for ecosystem integration. The team also built out its professional sales and marketing operations, increasing revenue more than five-fold during Alpine’s nine-year investment period. Cleo’s partnership with H.I.G. will provide investment for its next phase of growth and accelerate Cleo’s ecosystem integration category leadership and growth strategy.
“Over the last nine years, Cleo has redefined B2B integration in the cloud, and pioneered the ecosystem integration software category, creating an end-to-end product solution on a single platform, which businesses across industries are rapidly adopting,” said Rajasekharan. “H.I.G. Capital’s deep domain knowledge and shared vision in helping businesses manage rapid growth through cloud integration technology makes them the perfect partner for Cleo’s next phase of growth.”
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