Why have Tribepad taken on external investment?
We’ve grown organically for more than a decade, but now we think the opportunity is greater than ever. There are thousands more companies who would benefit from using our TA platform, and we want an investment partner who can help us grow – investing in our team, our product and helping us reach a wider audience.
Who are BGF?
BGF was set up in 2011 and has invested over £3bn in more than 500 companies, making it one of the most active growth capital investors in the UK and Ireland. Investing from a balance sheet of £2.5bn, BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 15 offices. BGF models have now been set up in Canada and Australia, with other countries evaluating the opportunity to replicate this.
Why do we think BGF are the right partner?
We wanted a partner who recognised the market-opportunity and had a strong history of charging tech company growth. The thing that really stood out about BGF was their ethical approach and buy-in to our people-first, product-second and profit-third ethos. We spoke to other companies in the BGF portfolio and the feedback we received was overwhelmingly positive, with BGF being consistently supportive to management teams who are scaling successful businesses.
Are there any changes to the Tribepad senior management team?
Dean Sadler remains as CEO, along with Neil Armstrong as Chief Commercial Officer and Tom Webb as Chief Operating Officer. After working together for over a decade, co-founders Alexis Twigg and Dan Kirkland both step down from their roles to pursue other interests.
Andy McRae will join Tribepad as non-executive Chairman. He brings a wealth of experience from across the recruitment and technology sectors and has worked successfully with a range of PE-backed businesses.
Are any company details changing? (e.g. company registration number or bank account details)
No. Tribepad Limited remains our trading company, so there are no changes needed to customer contracts and no changes of bank account details for payments.
What does this mean for our contract with Tribepad?
There is no change for any customers, as their contract remains with Tribepad Limited. The existing shareholders and management team of Tribepad retain control of the company, taking into account the minority investment from BGF.