MCLEAN,
Va., Dec. 19, 2023 /CNW/ -- Exiger, the market
leading SaaS company revolutionizing the way corporations,
government agencies and banks manage supply chains, announced today
that it has entered into a definitive agreement through which it
will receive a majority investment from funds managed by global
investment firm Carlyle (NASDAQ:
CG) and global software investor Insight Partners. The partnership
will enable Exiger to continue investing in its award-winning
product portfolio of AI solutions that are used in critical
applications across government and commercial markets. The
company's management, founders, and existing investor Carrick
Capital Partners will reinvest equity as part of this
transaction.
The partnership will enable Exiger to
continue investing in its award-winning product portfolio of AI
solutions
"Exiger's AI technology transforms the way organizations
identify and manage risk, reduce cost and increase resilience
across their supplier and third-party ecosystems. We are thrilled
to partner with Carlyle and
Insight Partners as we continue to invest in our 1Exiger platform
which empowers our customers to make confident, deliberate
decisions informed by real-time insights," said Brandon Daniels, Exiger CEO.
Founded by Michael Cherkasky and
Michael Beber to make the world a
safe and transparent place for organizations to succeed, Exiger
provides mission-critical enterprise software that delivers
visibility and insights into risk across all third-parties and down
to the "nth tier" of a supply chain, encompassing suppliers, parts
and materials. The company serves over 500 customers globally,
including 150 of the Fortune 500. Exiger also supports more than 50
government agencies in their mission to protect the most critical
supply chains, defense systems, and infrastructure. The 1Exiger AI
platform addresses the entire risk landscape, including foreign
ownership, control or influence, environmental, social &
governance, cyber, financial health, reputational, national
security, regulatory, product, and operational risks.
"This partnership is a joint effort between Carlyle's Technology and Government Services
teams, a perfect example of our strategy to invest in areas where
we believe the firm has deep expertise and can add meaningful
value," said Steve Bailey, a
Managing Director on Carlyle's
Technology team, and Dayne Baird, a
Managing Director on Carlyle's
Government Services team. "Leveraging Carlyle's differentiated
expertise in AI and its long history in backing high-growth
businesses that sell into government and the commercial sectors in
which Carlyle focuses including
aerospace, government services, financial services, industrial,
healthcare, and consumer, we are excited to partner with Exiger's
world-class management team to work to accelerate product
innovation and customer engagement."
Ryan Hinkle, a Managing Director
at Insight Partners, said, "Exiger has emerged as a leader in
third-party and supply chain risk management, and we have strong
conviction in their platform, which delivers differentiated value
to customers. Insight is excited to partner with the Exiger
management team and Carlyle to
drive the next phase of growth at Exiger as they scale up."
Alvarez & Marsal, Boston Consulting Group, Nextfed, and
PricewaterhouseCoopers served as advisors to Carlyle and Insight Partners. Union Square
Advisors LLC and Latham & Watkins LLP also served as
advisors to Carlyle, while
Deutsche Bank and Willkie Farr &
Gallagher LLP also served as advisors to Insight. Jefferies LLC
served as exclusive financial advisor and Sidley Austin LLP served
as legal advisor to Exiger. Ernst & Young and McKinsey &
Company also served as advisors to Exiger. The transaction is
subject to customary closing conditions and regulatory
approvals.
About Exiger
Exiger is revolutionizing the way corporations, government
agencies and banks navigate risk and compliance in their
third-parties, supply chains and customers through its software and
tech-enabled solutions. Exiger's mission is to make the world a
safer and more transparent place to succeed. Emboldening its 550
customers across the globe, including 150 in the Fortune 500 and
over 50 government agencies, with award-winning AI technology,
Exiger leads the way in ESG, cyber, financial crime, third-party
and supply chain management. Named one of Fast Company's 2023
'Brands That Matter,' Exiger's work has been recognized by 40+ AI,
RegTech and Supply Chain partner awards. Learn more at
Exiger.com and follow Exiger on LinkedIn.
About Carlyle
Carlyle (NASDAQ: CG) is a
global investment firm with deep industry expertise that deploys
private capital across three business segments: Global Private
Equity, Global Credit, and Global Investment Solutions. With
$382 billion of assets under
management as of September 30, 2023,
Carlyle's purpose is to invest
wisely and create value on behalf of its investors, portfolio
companies, and the communities in which we live and invest.
Carlyle employs more than 2,200
people in 28 offices across four continents. Further information is
available at www.carlyle.com. Follow Carlyle on X @OneCarlyle.
About Insight Partners
Insight Partners is a global software investor partnering with
high-growth technology, software, and Internet startup and ScaleUp
companies that are driving transformative change in their
industries. As of June 30, 2023, the
firm has over $80B in regulatory
assets under management. Insight Partners has invested in more than
800 companies worldwide and has seen over 55 portfolio companies
achieve an IPO. Headquartered in New York
City, Insight has offices in London, Tel
Aviv, and the Bay Area. Insight's mission is to find, fund,
and work successfully with visionary executives, providing them
with tailored, hands-on software expertise along their growth
journey, from their first investment to IPO. For more information
on Insight and all its investments, visit insightpartners.com or
follow us on X @insightpartners.
Media Contacts
For Exiger:
Kody
Gurfein
+1 (914) 393-0398
kgurfein@exiger.com
For Carlyle:
Brittany Berliner
+1 (212) 813-4839
brittany.berliner@carlyle.com
For Insight:
Natalie
Sawyer
InsightPR@insightpartners.com
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SOURCE Exiger