Private equity firm Foresight has sold anaytics company Idio, generating a 2x return after a three year investment hold.
The business has been sold to Episerver Inc, a digital experience company.
Idio is a content personalisation and analytics platform which uses predictive analytics to help B2B enterprises market and sell their products online. The business is based in London and New York and its clients include Fitch Ratings, PureStorage and TATA.
Foresight initially invested in Idio in October 2016 and has worked closely with the senior management team to accelerate product development, build out the sales and marketing teams and expand into the US. Since the investment the business has more than tripled in size.
Ed Barrow and Andrew Davies, Co-Founders of Idio, said: “Idio has appreciated the support of Foresight, and the presence of Rodney Appiah on our board. Together we have built a team and technology that is delivering 1:1 personalisation at global scale."
Rodney Appiah, Director at Foresight, added: “It has been a pleasure to have supported Ed and Andrew as they sought to create and grow a business in an exciting and yet emerging part of the digital marketing landscape.”