Pamlico Capital Announces Investment in InRule Technology
Pamlico Capital announced today that it has made a strategic growth investment in InRule Technology, an intelligence automation company providing integrated decisioning, machine learning and process automation software to the enterprise. Terms of the transaction were not disclosed.
Pamlico’s backing will enable InRule to accelerate the delivery of intelligence automation software that helps organizations make better decisions faster, operationalize machine learning, and improve complex processes and workflows.
InRule is partnering with Pamlico at an exciting time as demand for transparent, explainable AI-powered automation has surged. Following several years of rapid growth, as well as the acquisitions of simMachines and Barium AB in 2021, InRule has expanded its global customer base and is recognized as the leading provider of intelligence automation software for the enterprise.
“We’re thrilled to partner with Pamlico for this next stage in our mission of making automation accessible,” said Rik Chomko, co-founder and CEO, InRule Technology. “Pamlico shares our philosophy of doing the very best we can for our clients, partners and employees, and we are confident that they are the right team to partner with on our journey of helping our clients increase productivity, drive revenue, and achieve exceptional business outcomes.”
“As organizations seek to leverage the power of automation, they quickly realize the importance of explainability, and InRule is recognized by its customers for delivering plain-language AI tools that promote compliance and trust through transparency,” said Eric Wilkins, Pamlico Partner.
“We have been impressed by InRule’s vision, technology, and commitment to its clients’ success, and we look forward to driving further innovation that helps enterprises deploy AI-powered decisioning and automation with confidence,” added Christiane Felts, Pamlico Principal.
The transaction represents the culmination of a successful partnership between InRule and its prior investor, OpenGate Capital. Raymond James served as financial advisor to InRule.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.