CONCORDE SOLUTIONS SECURES MULTI-MILLION DOLLAR INVESTMENT FROM JMI SERVICES, LLC, PANORAMIC GROWTH EQUITY AND ELDERSTREET
Charles Noell joins Board bringing with him his experience as a technology investor
Concorde Solutions, a leading provider of business analytics, automated solutions and knowledge services for managing software compliance, has secured a multi-million dollar investment.
The company raised $2.5 million in new investment led by new investor, JMI Services, LLC, and included participation from Panoramic Growth Equity and Elderstreet, both of whom are existing investors. Concorde will use this infusion of capital to expand both its geographic coverage and its sales programmes, as well as continued product investment.
Established in 2007, Concorde has developed a custom-built SaaS product to aggregate all of the software and licensing information owned within an enterprise. Used in support of the company’s core functions of providing consultancy support and managed services, Concorde Solutions is not only able to accurately audit a client’s software estate, it can also identify ways to reduce costs, mitigate risk and transform business processes.
Mr. Noell, who is an experienced technology investor, joins the board alongside PGE’s David Wilson. In 1992, Mr. Noell co-founded the private equity firm, JMI Equity, which focuses on investing in leading software and technology-enabled services companies. JMI Equity has invested in over 110 companies, helping many of these businesses become industry leaders. Additionally, he is president of JMI, which is the family investment company of John J. Moores, who founded BMC Software, Inc. His previous investments have included ServiceNow (NYSE:NOW). He brings with him an enormous amount of experience not only in the investment sector, but particularly within the technology arena.
Martin Prendergast, CEO, Concorde Software, stated: “We welcome these key strategic appointments to the Board and look forward to leveraging their experience and strategic insights as we plan for continued growth and expansion. The addition to the Board of Charlie Noell is particularly welcoming given his track record at JMI Equity, ServiceNow and other software companies and demonstrates his commitment to Concorde.”
“Our latest version of our Core Control software asset management platform was met with overwhelming acceptance with customers lauding the simple deployment and ease-of-management. From this we have built a strong pipeline and look forward to significant growth over the next year. The timing of this latest round of investment is perfect. We are seeing a dramatic increase in interest from customers and the market. With this new funding, we will be expanding our sales team and signing up a strong set of new partners as well as extending our geographic reach.”
Founded in 1992, JMI has invested in software companies, sports teams, real estate, and energy. Its investments have included several companies which have gone public, including ServiceNow.
Panoramic Growth Equity is a leading investor in fast growing entrepreneurial companies having been set up by Stephen Campbell, David Wilson and Malcolm Kpedekpo to provide growth equity for growth companies.
Elderstreet is a leading UK venture capital fund manager investing in early stage and development capital for UK growing businesses. âï¿½¨âï¿½¨It provides funding for MBOs and development capital in most industry sectors and have a specialist technology practice investing in the software and computer services market.