Software-focused private equity house Finrock Growth Partners has picked up low-code business process management software company BP Logix.
The company’s flagship product, Process Director, is an AI-enabled, low-code/no-code intelligent automation platform. BP Logix customers include the City of Fort Worth, Leo Burnett USA, MultiPlan and the University of Central Florida.
Finrock managing partner Girish Pashilkar said, “BP Logix is experiencing exponential growth and we are delighted to provide our capital and operating expertise to help scale the business from a long-term perspective.
“Their flagship Process Director platform is already highly regarded by customers and industry analysts. Our aim is to help BP Logix extend its leadership position while creating more industry-specific solutions.”
Pashilkar, a seasoned executive with over 20 years’ experience in growing software and recurring service businesses, becomes the company’s new CEO following the deal.
Finrock has been investing in software businesses since 2009, and is currently targeting B2B companies serving niche areas with revenues of between $5m and $50m.
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