- Unsolicited Investment Comes Just One Year After $15 Million Series B, Bringing Total Funding to $44 Million
- Capital Strengthens Market Position as Top Solution for Pre-Investment Due Diligence
TEL AVIV, Israel and LOS ANGELES, Nov. 15, 2021 /PRNewswire/ -- Intelligo, provider of a leading, AI-powered background risk intelligence platform for investment due diligence, today announced it has secured a $22 million growth investment from Felicitas Global Partners, LLC ("FGP"), an asset management firm focused on alternative investments. FGP, who is a client of Intelligo, initiated the investment independent of Intelligo, which only in November 2020 closed on a $15 million Series B financing round. Terms of the private transaction were not disclosed.
"We have been an Intelligo client for two years and have seen, firsthand, the transformative effect its platform has on enhancing pre-investment due diligence for private capital firms evaluating a higher volume of deals than ever before," said Bonar Chhay, Managing Partner of Felicitas Global Partners. "We have not come across many tech-enabled companies that offer pre-investment and pre-hiring intelligence and live monitoring in one, easy-to-use solution that delivers information critical to real-time decision-making. Knowing the market opportunity and the quality of Intelligo's technology, we made the proactive decision to invest now as Intelligo continues to gain significant customer adoption."
Intelligo's AI-powered Clarity platform allows investors, financial institutions, and corporations to make fast, accurate, intelligence-driven decisions, by providing a 360° view of executives' reputational, legal and financial backgrounds. Clarity is used by hundreds of leading private equity firms, funds of funds, VCs, hedge funds, investment banks, and institutional investors to enhance their pre-investment due diligence.
"We are tremendously excited to receive this investment from Felicitas Global Partners," said Shlomo Mirvis, CEO and co-Founder of Intelligo. "The new funding is a huge vote of confidence from an existing customer, right as we are experiencing our highest period of growth since launching and it will help further cement our position as the leading provider of an AI-powered intelligence platform for pre-investment due diligence."
Intelligo, which recorded 200 percent annual revenue growth over the past three years, significantly accelerated that pace throughout the pandemic and is on track for 300 percent growth this year.
"Due to COVID-19, in-person meetings were practically nonexistent and without the ability to make a one-on-one connection with management teams, investment firms have become even more reliant on thorough background checks to make investment decisions," added Mirvis. "For the same reasons, they need a more advanced and accessible solution that enables collaboration and remote work for their diligence.
Intelligo estimates the US market for pre-investment due diligence alone is $500 million and growing steadily, while the overall market for background checks amounts to approximately $17 billion.
"We're excited to have Felicitas join us in backing Intelligo as we embark upon this next phase of growth," added Mike Trapanese, Investment Principal and Partner at current Intelligo investor Behrens Investment Group.
Intelligo is a leading Risk Intelligence company fusing AI and Big Data to digitalize the background check industry, enabling organizations to make secure and informed business decisions. Intelligo's AI-powered cloud platform Clarity, allows stakeholders including investors, financial institutions, and corporations to make fast, accurate intelligence-driven decisions, providing a 360° view of a person's or a company's reputational, legal and financial backgrounds, and its broader impact on trust and business risk. For more information, please visit Intelligo.ai.
About Felicitas Global Partners
Felicitas Global Partners, LLC (FGP) is an asset management firm focused on alternative investments such as niche private credit, equity, and secondaries. FGP specializes in investing in under-followed areas of private markets, favoring structures that mitigate downside risk and provide potential to earn above-market returns. It leverages its strong industry relationships to find attractive opportunities and its investment team applies a rigorous due diligence process to vetting investments and actively monitoring all positions post-investment. To learn more about FGP, please visit www.FelicitasGP.com.