Private equity firms have agreed to invest over $200m in commodity data and analytics company Kpler for a ‘minority’ stake in the company.
The investment has been led by Five Arrows and Insight Partners in what has been described as a “strategic growth investment”.
The investment is said to be the first external fundraising initiative for Kpler, which has been bootstrapped since its foundation in 2014.
Kpler chief executive Francois Cazor described the private equity investment as an “important step forward in Kpler’s history”.
“We are confident we have found the best sponsors to accelerate our development now and in the long run,” he said in a statement.
Jean-Daniel Bertoncini, co-head, Five Arrows Growth Capital described Kpler as “the standard for next-generation data and analytics in the commodity and shipping markets”.
“Their success is a testament to the product obsession of its team and continuous investments in cutting-edge technology and quality of service.”
AJ Malhotra, managing director, Insight Partners, said Kpler was “upending the global trade industry with technology that makes the shipping and commodity markets more sustainable and efficient”.
Kpler has been growing aggressively in recent months, purchasing rival ClipperData and just recently JBC Energy, and says it plans further acquisitions.
The company said it has doubled its annual recurring revenue in the last 18 months, which is now above $40m per year. The company aims for it to reach $300m “in the next few years”.
Kpler, which is a privately-owned company, said it employs over 200 staff across nine permanent locations.
Houlihan Lokey acted as financial advisor and Cooley acted as legal advisor to Kpler for this transaction.
