Exiger on Wednesday said the company has agreed to receive a majority investment from the private equity firm Carlyle [GG] and Insight Partners
, which invests in software and high-technology companies, allowing the supply chain transparency firm to scale up and boost its investments in artificial intelligence.
The pending investments were not disclosed. Exiger’s management, founders, and existing investor Carrick Capital Partners will reinvest equity as part of the transaction.
Exiger, which is based in Northern Virginia, offers a software-as-a-service platform to conduct third party and supply chain risk management, and supply chain management. The company’s customers include corporations, which include the defense industrial base (DIB), government agencies, and financial institutions.
“Examples of specialized defense risks include additional focus on foreign ownership, state-owned entities, NDAA-prohibited suppliers, critical technology list elements, cybersecurity, and hardware or software compromise,” Exiger says on its website. “DoD and DIB entities are particularly concerned about the vulnerabilities inherent in critical technology programs, including data breaches, counterfeit, parts obsolescence, dual-use technologies and export controls.”
Carlyle’s Technology and Government Services teams are partnered on the deal and said they will bring their expertise in AI.
“Exiger has emerged as a leader in third-party and supply chain risk management, and we have strong conviction in their platform, which delivers differentiated value to customers,” Ryan Hinkle, a managing director at Insight, said in a statement.
Brandon Daniels, Exiger’s CEO, said that the investment goes toward “our 1Exiger platform which empowers our customers to make confident, deliberate decisions informed by real-time insights.”
Jefferies is Exiger’s financial adviser on the deal, which is subject to regulatory approvals. Union Square Advisors is advising Carlyle and Insight is being advised by Deutsche Bank.