Cherwell Software announced that global investment firm KKR will take a larger stake in the company through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services.
This latest investment of $172 million will be in addition to KKR’s initial $50 million investment made in Cherwell in February 2017.
“Since founding this company in 2004, we have committed to serving customers with intuitive technology that helps not only drive business but transform organizations,” said Vance Brown, Cherwell Co-Founder and Chairman of the Board. “The demand for our platform has continued to expand globally and the leadership at KKR is aligned with the company’s vision for growth.”
“Cherwell is a leader in its industry known for its highly-adaptable, high-quality solutions, which enable customers to transform their service management capabilities. We are thrilled to further invest in the company, which we believe has enormous potential for growth,” said Vini Letteri, a Managing Director on KKR’s Private Equity and TMT Growth team.
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