October 13, 2022
LOS ANGELES – October 13, 2022 – OpenGate Capital, a global private equity firm, today announced that it has exited its investment in InRule Technology® (“InRule”), a market-leading intelligence automation platform, through a sale to Pamlico Capital. Financial terms were not disclosed.
Headquartered in Chicago, Illinois, InRule provides integrated decisioning, machine learning and process automation software that enables IT and business leaders to make better decisions faster, operationalize machine learning, and improve complex, mission-critical processes.
OpenGate’s initial investment came in 2019 and marked InRule’s first institutional capital raise. Over the past three years, OpenGate supported significant product and go-to-market investment while partnering with InRule’s management team on a buy-and-build automation thesis resulting in two highly strategic add-on acquisitions. The additions enhanced InRule’s platform capabilities, expanded its geographic footprint and elevated its position as a leader in the enterprise automation space.
“Automation is becoming increasingly essential for effective business governance and cost-effective decision-making, and InRule represents just how powerful this technology can be,” commented Andrew Nikou, OpenGate Capital’s founder and CEO. “The InRule investment is a great example of our strategy in action through the integration of thematic sourcing, thoughtful M&A and operational value creation.”
“InRule has been an exceptional partner over the last three years and has experienced strong product, customer and revenue growth,” said Rob Young, a Principal at OpenGate Capital. “It has been a pleasure working with Rik and the entire management team through multiple acquisitions and operational improvements. InRule’s people and products are world-class, and I look forward to seeing the company’s continued success in its next chapter.”
InRule’s Co-founder and CEO, Rik Chomko, added, “It has been truly rewarding to partner with OpenGate to transform InRule by delivering an expanded portfolio of mission-critical solutions for our clients. Building on the momentum we have established in recent years, I am excited to begin working with Pamlico Capital as we continue to build out our capabilities and further our growth story.”
Raymond James served as financial advisor and Massumi + Consoli LLP served as legal counsel to OpenGate Capital.
About InRule Technology, Inc.
InRule Technology is an intelligence automation company providing integrated decisioning, machine learning and process automation software to the enterprise. By enabling IT and business leaders to make better decisions faster, operationalize machine learning, and improve complex processes, the InRule® Intelligence Automation Platform increases productivity, drives revenue, and provides exceptional business outcomes. More than 500 organizations worldwide rely on InRule for mission critical applications. InRule Technology has been delivering measurable business and IT results since 2002. Learn how to make automation accessible at www.inrule.com.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed more than 30 acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.