Acqueon, a provider of omnichannel customer engagement software, announced a majority growth investment from Long Ridge Equity Partners (“Long Ridge”). Existing investor Everstone Capital has exited its majority stake and remains a minority equity holder in the Company.
The transaction will enable Acqueon to further extend its market-leading position via accelerated product innovation, channel partner expansion, and continued investments in its people, platform, and client services. The investment follows a period of dramatic growth for Acqueon, with over 200 enterprise customers across financial services & banking, healthcare, retail & distribution, and the public sector leveraging Acqueon’s platform to orchestrate and execute their omnichannel customer engagement strategies, the statement said.
Founded in 2019, Acqueon has created an industry-leading, modern customer engagement platform that allows enterprises to proactively connect with customers for outbound sales, service, and revenue capture opportunities using customers’ preferred communication channels.
“We are thrilled to partner with Long Ridge as we enter our next phase of growth,” said Ashish Koul, CEO of Acqueon. “We are incredibly proud of the world-class business Acqueon has become over the past several years and see tremendous opportunity ahead. With a focus on innovation, customer service, and partnership, we have been able to respond to evolving consumer demands and rapidly scale our client base. We look forward to working with Long Ridge and continuing to be the leader in proactive, trusted, and intelligent customer engagement technology.”
“Across industries, enterprises are challenged by antiquated customer engagement technology, making it difficult to react to shifting consumer preferences and growing compliance burdens,” said Andrew Cedar, Principal at Long Ridge. “Acqueon offers a modern, omnichannel customer engagement platform that is compatible with existing contact center technology and helps clients orchestrate effective, compliant customer engagement campaigns. The Company is well-positioned for continued growth, and we are excited to partner with Ashish and Acqueon’s proven team as they expand their market leadership, innovate the platform, and continue to grow their impressive client base.”
Avnish Mehra, Senior Managing Director and Co-Head, Private Equity at Everstone Capital, said, “We are delighted to welcome Long Ridge as a significant investor in Acqueon. We incubated Acqueon within one of our tech services businesses and it has gained fabulous traction due to its technology, industry expertise and a great team led by Ashish. During its tenure as an investor, Everstone executed various value-creation initiatives in Acqueon, including professionalizing and institutionalizing the business, adding deep industry experience, enabling R&D and sales investments and facilitating partnerships with new-age cloud contact center players. Overall Everstone has built a robust tech portfolio over the last few years, including investments like Everise, Pharmeasy, Apexon, Omega Healthcare, Innoveo, Servion and Acqueon.”
DC Advisory served as Acqueon’s lead financial advisor. Acqueon’s legal advisor was Lazare Potter & Giacovas. Choate Hall & Stewart served as legal advisor to Long Ridge.
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