Investcorp Technology Partners’ portfolio company, Ageras Group (Ageras), a provider of recurring revenue-driven accountancy software, solutions and services to both SMEs and accountancy firms, has raised USD73 million from Lugard Road Capital, the US-based alternative asset manager

The new investment will be used to accelerate Ageras’ expansion into existing growth markets, creating potential for both inorganic and organic growth opportunities. Ageras is well positioned to capitalise on the rising demand for automated business tools and the new investment will also support the continued innovation of its mission critical software.

Ageras operates in six markets: Denmark, the US, Sweden, Norway, Holland and Germany from its Copenhagen headquarters.

Gilbert Kamieniecky, Managing Director and Head of Investcorp’s Private Equity Technology business, says: “The combination of Ageras’ mission critical software, backed by a reputation for dependability, insights into the professional service market, an outstanding management team, paired with its cutting-edge research & development has ensured it has continued to grow its market position and deliver an accountancy ecosystem based on high quality recurring revenue. The additional financing secured by Ageras will help to drive international expansion and support the continued innovation of its customer offering.”

Read more/Source: Private Equity Wire