Abrigo, an Austin, Texas-based technology provider of compliance, risk, and lending solutions for financial institutions, received a strategic growth investment from funds managed by Carlyle (NASDAQ: CG).
The amount of the deal was not disclosed.
The company intends to use the funds to:
- further accelerate sales growth,
- deepen its customer relationships, and
- pursue M&A.
Abrigo’s current majority investor, Accel-KKR, will retain a significant equity stake in and partner with Carlyle to support the company’s long-term growth plan. Wayne Roberts, Chief Executive Officer of Abrigo, will continue to lead the Company supported by the existing management team.
Abrigo is a technology provider of compliance, credit risk, lending, and asset/liability management solutions that financial institutions use to manage risk and drive growth. The software automates key processes – from anti-money laundering to asset/liability management to fraud detection to lending solutions – empowering customers by addressing their Enterprise Risk Management needs.
The company serves over 2,300 customers and has experienced revenue growth of over 30% year-over-year.