Fieldfisher advises Board Intelligence on K1's Strategic Growth Investment in AI-Powered Board Management Software Platform, Board Intelligence.
K1 Investment Management ("K1") is one of the largest investors in small-cap enterprise software companies and this deal allows Board Intelligence to strengthen its category-leading position through organic growth, product and geographic expansion and strategic acquisitions.
Headquartered in the United Kingdom, Board Intelligence is trusted by over 40,000 leaders across 3,000 organizations worldwide. Clients include global organizations such as Generali, Schroders, Nationwide, Zurich Insurance Group, Aston Martin and Sage alongside major public sector organisations such as the National Health Service (NHS).
Established in 2010 by founders Jennifer Sundberg and Pippa Begg, Board Intelligence provides software and services that drive better board decision-making. Board Intelligence serves as a trusted advisor to Fortune 500 and Global 2000 chairs and CEOs, helping to optimize board performance. The Board Intelligence board portal is a highly secure system of record, used by board members worldwide to access and collaborate on their board documents. Lucia, an AI-powered report-writing platform, assists management teams in preparing shorter, sharper reports for their boards.
"We are thrilled to partner with Jennifer and Pippa to build on Board Intelligence’s strong market position." said Brian Beard, K1. "We have followed their journey for over five years and their dedication to improving boardroom decision-making with innovative AI tools and strategic insights is remarkable. Our investment is a reflection of their category leadership and our confidence in extending that leadership position across corporate clients and public sector organizations globally."
Jennifer Sundberg, co-Founder and co-CEO of Board Intelligence, said: "Our mission is to transform the effectiveness of every board in the world. K1’s vision for the future of Board Intelligence and their proven expertise in building category leaders will be instrumental in expanding the value we deliver to our clients."
Pippa Begg, co-Founder and co-CEO of Board Intelligence added: "While we have been profitable and did not need capital, we partnered with K1 because of their operational expertise in scaling companies globally through organic and inorganic growth, and their increasing investment in AI. K1 has a history of building category leaders, and we are excited to leverage their experience to strengthen our product offering."
K1 will assume the position of the only institutional shareholder in Board Intelligence with both Jennifer Sundberg and Pippa Begg continuing as minority shareholders. Financial terms of the transaction were not disclosed.
The Fieldfisher team advising Founders, Sellers and Board Intelligence was led by Corporate Partner Thomas Colmer, who also advised on Susquehanna Growth Equity's minority investment in early 2021. The deal involved a cross-practice team of specialists from Fieldfisher including Corporate, Incentives, Regulatory, Tax, Technology & Data and Employment.
Commenting on this deal, Thomas Colmer, Lead Partner, said: "Congratulations to our clients and K1 on successfully closing the deal. We were delighted to be a trusted adviser on this complex, cross-border deal which showcases Fieldfisher's expertise in handling important technology transactions. We look forward to working with the Board Intelligence and K1 team on the continued growth of Board Intelligence."
Jennifer Sundberg, co-Founder and co-CEO of Board Intelligence, said: "To secure the right outcome on a deal, you need the best possible legal and commercial advice; Thomas Colmer and his team delivered in spades. We are grateful to the whole team at Fieldfisher for their deep knowledge, dedication, experience and their support every step of the way. They were fundamental in helping us to secure this important partnership with K1, setting Board Intelligence up for our future success and impact."
Pippa Begg, co-Founder and co-CEO of Board Intelligence added: "The Fieldfisher team worked smart and tirelessly around the clock. The breadth of talent and subject matter expertise across Fieldfisher was invaluable. The deal making and specialist tax and regulatory advice was of the highest quality."
Fieldfisher's international Corporate Technology lawyers work across practice areas and offices to support tech clients – from emerging companies and mid-market businesses to established global corporates and investors, with particular expertise in deals involving entrepreneurs, private equity and venture capital-backed organisations.