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Q Advisors and Acuity Advisors Represent Innoveo in its Equity Financing by Paulson & Co

NEW YORK, April 20, 2021Innoveo, a leading provider of enterprise no-code solutions, announced the completion of its equity financing after a highly successful year in 2020.

Paulson & Co. Inc., founded by John A. Paulson, and an affiliate fund of Michael E. Tennenbaum are first-time investors in Innoveo and will join Everstone Capital, one of Asia's premier investment firms focused on cross-border North America – Asia investments as well as domestic investments in India and Southeast Asia, and the management team as shareholders. The proceeds will primarily be used to grow the sales team and marketing activity to expand upon strategic partnership opportunities. Funding will also be allocated to further enhance Innoveo's product offerings by accelerating platform development and R&D - extending capabilities to be a top contender within the highly competitive technology sphere.

Since its acquisition by iSource and Everstone Capital in 2018, Innoveo has become a mature and lean organization, delivering multiple enterprise solutions to Tier 1 insurance carriers based on its market-leading no-code platform-as-a-service offering, Innoveo Skye®, and launching new products such as Innoveo eBro and Innoveo Cyber, while substantially revamping its sales capability. In a testament to its growth, Innoveo has acquired multiple new marquee customers, more than doubled contracted recurring revenues, and built an impressive deal pipeline, which expanded fourfold from a year ago.

With a strong increase in subscription revenue in 2020, the company is well-positioned to further accelerate its growth in 2021. Recently mentioned in Forrester’s Now Tech: General-Purpose Low-Code Development Platforms, Q1 2021 report, Innoveo has cemented its position as a front-runner amongst emerging global technology providers, revolutionizing how enterprise applications are created.

Q Advisors and Acuity Advisors, members of a global TMT investment banking alliance, acted as the exclusive financial advisors to Innoveo.

To read Innoveo’s full announcement, click here.

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