InMoment Receives Strategic Growth Investment from Madison Dearborn Partners
SALT LAKE CITY--(BUSINESS WIRE)--May 15, 2019--
InMoment, a leader in customer experience management, today announced that it has received a strategic growth investment from funds advised by Madison Dearborn Partners, LLC (“MDP”), a leading private equity firm based in Chicago. MDP has acquired a majority ownership position in InMoment from existing shareholders, with Peterson Partners, an independent investment firm that first invested in InMoment in 2013, retaining a minority ownership position in the company.
MDP’s investment serves as a strong endorsement of the company’s vision around the future of feedback. MDP’s sponsorship will enable InMoment to accelerate its growth strategy, which is focused on increasing market adoption and expanding the capabilities of InMoment’s Experience Intelligence (XI) Platform™, as well as continued geographic expansion in the large and growing customer experience and analytics market. The XI Platform is unique in its ability to synthesize disparate information from across an enterprise’s first- and third-party data sources to drive high-value business decisions and foster strong relationships for companies with both customers and employees. Andrew Joiner, InMoment’s CEO, and the rest of the company’s current management team will continue to lead InMoment.
“The new investment partnership with MDP will accelerate our momentum, and help us achieve our ambition of disrupting the CX market, which has been under served by both metric-heavy and market research led approaches,” said Joiner. “MDP is the ideal partner for InMoment at this stage in our history – they have a long track record of success across their portfolio and, most importantly, their vision aligns soundly with our own strategic goals.”
With the recent launch of its next generation XI Platform, including the Customer Experience (“CX”), Employee Experience (“EX”), and Market Experience (“MX”) Clouds, InMoment continues to differentiate its offering, which has been lauded by analysts as game-changing in the industry.
The company has also expanded significantly, including a larger footprint in North America, Europe and new locations in Asia, and achieved strong growth in market segments such as automotive, energy, retail, hospitality, healthcare, banking and insurance.
Scott Pasquini, a Managing Director at MDP, commented: “InMoment’s XI Platform offers the customer experience management sector a truly innovative approach, one that enables companies to seamlessly collect and connect first- and third-party data sources to provide unique insights into the experience and sentiment of their customers. InMoment excels at taking customer understanding beyond the survey, and we are excited to support InMoment’s strong momentum as it continues to deliver best-in-class analytics and services to companies globally.”
Concurrent with MDP’s investment, InMoment has appointed John Lewis, former Global President of Nielsen Holdings PLC and current Executive Partner at MDP, as Executive Chairman of the company’s Board of Directors. Lewis is a proven technology executive with extensive experience in the data and analytics market. With a track record of success across a variety of business situations, including with globally scaled businesses and start-ups, Lewis most recently oversaw Nielsen’s global “Buy” business and its ex-North America “Watch” business, leading each of these segments to both accelerated revenue growth and enhanced profitability.
“MDP’s investment in InMoment represents the culmination of two years of work alongside John Lewis to identify and execute an attractive investment in the customer data and analytics sector,” said Zaid Alsikafi, a Managing Director at MDP and the Co-Head of the firm’s Telecom, Media & Technology Services team. “Our work with John has deepened our conviction that the customer analytics sector will see outsized growth in the coming years as companies look to improve their customers’ experiences to drive both top- and bottom-line growth. We look forward to helping the InMoment team capture the commercial opportunity afforded by delivering transformational analytics to corporate enterprises.”
Union Square Advisors acted as exclusive financial advisor to InMoment throughout the transaction and DLA Piper served as its legal counsel. Stifel Nicolaus served as financial advisor to MDP and Kirkland & Ellis LLP provided legal counsel.
InMoment ™ is a leader in customer experience management. Its Experience Intelligence (XI)™ Platform transforms metrics into meaning to drive high-value business decisions and relationships for companies with both customers and employees. The Company’s cloud-native XI Platform is engineered with data science at the core, and specifically architected to harness intelligence from across the entire experience ecosystem to deliver clear business value. The platform features three clouds that all work seamlessly together to give companies a comprehensive understanding of the most important factors impacting their bottom lines, including: Customer Experience (CX) Cloud, Employee Experience (EX) Cloud, and Market Experience (MX) Cloud. InMoment’s approach of providing strategic technical, best practice and thought leadership support ensures that its nearly 500 brands across 95 countries realize maximum business impact.
About Madison Dearborn Partners
Madison Dearborn Partners, LLC (“MDP”), based in Chicago, is a leading private equity investment firm in the United States. Since MDP’s formation in 1992, the firm has raised seven funds with aggregate capital of approximately $23 billion and has completed over 140 investments. MDP is currently investing out of its most recent fund, $4.4 billion MDCP Fund VII, in businesses across a broad spectrum of industries, including telecom, media and technology services; basic industries; businesses and government software and services; financial and transaction services; and health care. For more information, please visit mdcp.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190515005232/en/
CONTACT: For InMoment:
(801) 230-9399For MDP:
Chuck Dohrenwend or Melissa Gansler
KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA ILLINOIS UTAH
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS SOFTWARE PROFESSIONAL SERVICES FINANCE
Copyright Business Wire 2019.
PUB: 05/15/2019 08:00 AM/DISC: 05/15/2019 08:00 AM