Riverwood’s investment underscores HG Insights’ accelerated growth and its future massive opportunity in the $12B Company Intelligence and
IT Research markets
Santa Barbara, January 5, 2021— HG Insights, a global leader in technology intelligence, announced today a significant growth investment from Riverwood Capital. This strategic investment affirms HG Insights as the premier supplier of technology and market insights to some of the world’s most recognizable business-to-business brands.
HG Insights’ proprietary processes formulate data on over 11 million companies worldwide, covering over 14,000 products in 248 countries and territories. That data and the extracted knowledge are surfaced in the HG Insights Platform and used as the gold standard for decision making in more than 85% of Fortune 100 B2B companies.
“Our customers have come to rely on HG Insights as an indispensable input into their most strategic decisions such as market sizing, whitespace analysis, and territory planning as well as for fundamental activities including opportunity prioritization and account-based marketing intelligence. Our rapid growth over the last two years is fueled by the depth and breadth of benefits we provide to B2B technology companies, globally,” said Elizabeth Cholawsky, CEO of HG Insights. “Riverwood’s investment is a vote of confidence in our future. It gives us flexibility and access to resources to help accelerate our growth and capitalize on the exciting opportunity before us. We are thrilled to be partnering with the Riverwood team.”
Jeff Parks, co-founder and managing partner of Riverwood Capital, said, “HG Insights represents a golden opportunity for Riverwood to continue to use our capital and expertise to accelerate the growth of innovative technology companies addressing demonstrated but unmet market needs. Elizabeth and her team have built an organization poised to disrupt the traditional go-to-market process for companies of virtually any size, and we’re very excited about the potential of this partnership.”
“Customers continue to reaffirm that HG Insights data’s breadth, depth, and coverage accuracy has become an indispensable asset for critical decision making at every level of a technology company,” Ramesh Venugopal, a principal at Riverwood said. “HG Insights provides unique, data-driven knowledge giving decision makers confidence that they are making the right choices.”
A relentless focus on curating the world’s most comprehensive and accurate technographic information, including technology installation, IT budgets and contract information, and on surfacing insights through the HG Platform, has powered HG Insights’ rapid organic growth. 2020 was a record year for annual recurring revenue and profitability, with employee count increasing by 30%. HG Insights, founded in 2010, has offices in the United States and the United Kingdom.
AQ Technology Partners was the financial advisor on the investment, and Cooley, LLP and Simpson Thacher and Bartlett LLP provided legal support for the successful transaction.
About Riverwood Capital
Riverwood Capital is a technology-focused growth equity firm with over $3.5 billion in assets under management. Riverwood offers a unique combination of operational, strategic, technological, and financial insight to portfolio companies that need both growth capital and expertise in order to scale. The firm has offices in Menlo Park, CA; New York, NY; and Sao Paulo, Brazil. For more information about Riverwood and its portfolio, please visit www.riverwoodcapital.com.
About HG Insights
HG Insights is the global leader in technology intelligence. The world’s largest technology firms and fastest growing companies achieve a tremendous advantage by using HG Insights to accelerate their sales, marketing, and strategy efforts. Every day, HG Insights uses advanced data science methodologies to process billions of unstructured digital documents to produce the world’s best technology installation information, IT spend, and contract intelligence. Learn more about how leading businesses use technographics to out-market, out-sell, and out-grow their competition at www.hginsights.com.