OpenGate Capital, a global private equity firm, announced that it has exited its investment in InRule Technology (“InRule”), a market-leading intelligence automation platform, through a sale to Pamlico Capital. Financial terms were not disclosed.
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“The InRule investment is a great example of our strategy in action through the integration of thematic sourcing, thoughtful M&A and operational value creation.”
Headquartered in Chicago, Illinois, InRule provides integrated decisioning, machine learning and process automation software that enables IT and business leaders to make better decisions faster, operationalize machine learning, and improve complex, mission-critical processes.
OpenGate’s initial investment came in 2019 and marked InRule’s first institutional capital raise. Over the past three years, OpenGate supported significant product and go-to-market investment while partnering with InRule’s management team on a buy-and-build automation thesis resulting in two highly strategic add-on acquisitions. The additions enhanced InRule’s platform capabilities, expanded its geographic footprint and elevated its position as a leader in the enterprise automation space.
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“Automation is becoming increasingly essential for effective business governance and cost-effective decision-making, and InRule represents just how powerful this technology can be,” commented Andrew Nikou, OpenGate Capital’s founder and CEO. “The InRule investment is a great example of our strategy in action through the integration of thematic sourcing, thoughtful M&A and operational value creation.”
“InRule has been an exceptional partner over the last three years and has experienced strong product, customer and revenue growth,” said Rob Young, a Principal at OpenGate Capital. “It has been a pleasure working with Rik and the entire management team through multiple acquisitions and operational improvements. InRule’s people and products are world-class, and I look forward to seeing the company’s continued success in its next chapter.”
InRule’s Co-founder and CEO, Rik Chomko, added, “It has been truly rewarding to partner with OpenGate to transform InRule by delivering an expanded portfolio of mission-critical solutions for our clients. Building on the momentum we have established in recent years, I am excited to begin working with Pamlico Capital as we continue to build out our capabilities and further our growth story.
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