MCLEAN,
Va., Dec. 19, 2023 /PRNewswire/ -- 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