Ireland Degges
Carlyle and Insight Partners have made a definitive agreement to invest in artificial intelligence-focused company Exiger.
Through the partnership, Exiger will be provided with a majority investment from funds managed by the two companies, which will be used to enhance its technology portfolio, Exiger announced from McLean, Virginia on Tuesday.
Brandon Daniels, CEO of Exiger, said the organization is “thrilled” to join forces with its new investors to continue working on its 1Exiger decision-making platform.
Exiger’s tools, said Daniels, can help enterprises reduce costs and increase resiliency as related to their supplier networks.
The company’s technology products are designed to make supply chains more transparent for its users, offering a look at potential risks across the full spectrum of suppliers. 1Exiger targets numerous risk areas, such as foreign ownership, control or influence and environmental, social and governance. It also looks at cyber, financial health and reputational as well as national security, regulatory, product and operational risks.
Currently, Exiger supports more than 500 clients worldwide, 50 of which are government agencies.
Steve Bailey, a managing director on Carlyle’s technology team, and Dayne Baird, a managing director on the firm’s government services unit, noted Carlyle’s “differentiated expertise in AI” and “long history in backing high-growth businesses” within a wide range of areas.
“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,” they said.
Insight Partners Managing Directors Ryan Hinkle said the company has “strong conviction” in Exiger’s platform and is “excited to partner with the Exiger management team and Carlyle to drive the next phase of growth at Exiger as they scale up.”
As part of the transaction, Exiger’s management, founders and current investor Carrick Capital Partners will reinvest equity.
