ERTH, Australia and MENLO PARK, Calif., July 24, 2024 — INX Software, an Australian leader in compliance, workforce management, training and reporting software for complex and high-risk industries, has announced the successful closing of a significant equity investment from Accel-KKR, a technology-focused private equity firm.
The investment, which gives Accel-KKR majority ownership in INX alongside management, will spur global expansion of the risk, compliance, logistics, training and reporting technology business.
Perth-based INX Software supplies world-class solutions to some of Australia’s biggest companies, especially those with complex, fast-paced and remote operations. INX has a suite of software solutions used in mining, manufacturing, health, government and other large organisations.
Chief Executive Officer Marcus Ashby welcomed the investment and said that while INX would remain based in Western Australia, it now had a partner that could accelerate access to global markets.
“INX Software will remain a home-grown, Western Australian technology company, but will now have access to the additional resources that Accel-KKR can deliver,” Mr. Ashby said.
“Our customers work in fast-paced, high-risk environments and they trust us to understand their challenges, deliver effective solutions, and be responsive to their changing needs.
“At the same time, our customers are also growing, and they need solutions that can scale with them, including work across borders and in multiple jurisdictions.
“It’s why we’re excited to announce this investment, which will unlock new opportunities to further develop our software solutions and meet customer needs today and tomorrow. Accel-KKR is known for their expertise for supporting software companies on their quest for global growth, so INX is well positioned to grow and scale with our new partner. I thank our previous backers, Tanarra Capital, for their support to date.”
The investment in INX comes after nearly two dozen investments for Accel-KKR in Australia in recent years, including partnerships with Humanforce, Uptick and Reapit ANZ. Accel-KKR’s investment with Seequent, a New Zealand-based geological modelling software company, was named Buyouts’ 2021 International Deal of the Year.
“INX provides mission-critical solutions that allow customers to run vital day-to-day operations, keep up with ever-evolving regulatory requirements and grow across multiple jurisdictions without missing a beat,” said Dean Jacobson, Managing Director at Accel-KKR.
“Given our experience in vertical software, helping companies expand their markets and deliver innovative products, we look forward to helping INX on the next phase of growth.”
This deal comes at a time of sustained growth for INX, where it has doubled its annual recurring revenue (ARR) in four years to FY2025 and today serves more than one million users across the globe.
Under the terms of the sale, the price has not been disclosed.
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About INX Software
INX Software enables businesses in fast-paced and complex industries to mobilise their workforce and navigate health, safety and environmental challenges to better protect people and the planet.
Based in Perth, Western Australia, we are globally trusted leaders in the delivery of workforce management, environment, health and safety software solutions, supporting our clients in the operation of safer, smarter and sustainable workplaces. We provide solutions across industries, including resources, oil & gas, transport, energy & utilities, engineering, manufacturing and government sectors.
About AKKR
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.
