March 01, 2022

LOS ANGELES – March 1, 2022 – – OpenGate Capital, a global private equity firm,  announced that it has made a strategic investment in Annex Cloud, a leading provider of SaaS customer retention and loyalty management solutions to mid-market and enterprise customers worldwide. The company will continue to be led by its founder and CEO, Mr. Al Lalani. Terms of the investment were not disclosed.

Founded in 2011, Annex Cloud provides a turnkey loyalty management platform that helps brands engage, retain, and grow customer relationships at scale. The company’s modular and comprehensive engagement suite delivers unique one-to-one experiences that build lasting customer bonds and drive growth. Annex Cloud manages millions of members and serves a global set of customers in a variety of industries, including retail, consumer packaged goods, healthcare, automotive and consumer services.

“We are thrilled to partner with Al Lalani and his team on their next stage of growth,” said Andrew Nikou, Founder and CEO of OpenGate Capital. “Given enterprises’ growing emphasis on collecting opted-in, zero- and first-party data, we believe Annex Cloud closes an important gap in the customer experience tech stack and is well poised for continued long-term expansion.”

“We’re excited to partner with OpenGate as we look to advance our enterprise capabilities and expand Annex Cloud’s presence in this underpenetrated market,” said Lalani, Annex Cloud’s CEO. “We collectively share a vision of building a leader in loyalty management and believe OpenGate’s operational expertise will best position us to achieve our objectives.”

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 40 acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.

About Annex Cloud

For more than 10 years, Annex Cloud has been the worldwide leader in technology and service solutions that transform customer loyalty experiences for organizations, extending valued customer engagements, ultimately making beloved brands. Powered by the comprehensive and scalable Loyalty Experience Platform™ solution suite, Annex Cloud customers capture and use zero- and first-party data to seamlessly deliver value-based individualized experiences across the entire customer journey—from awareness to purchase to retention, loyalty, and advocacy. Supporting its global enterprise clients, Annex Cloud has offices in the US, Germany, and India. The company is recognized by industry respected organizations and integrates with more than 100 market-leading technologies. Discover more at www.annexcloud.com.

For more information, please contact:

OpenGate Media Contacts

Prosek Partners

Email: Pro-opengate@prosek.com

Alanna Chaffin

Co-Head, Investor Relations & Communications

Email: AChaffin@opengatecapital.com

Telephone: +1 310-432-7000

OpenGate Business Development Contact

Joshua Adams

Email: jadams@opengatecapital.com

Rafael Baron

Email: rbaron@opengatecapital.com

Telephone: +1 (310) 432-7000

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