- Amdaris reported 94 percent year on year revenue growth in 2022
- BGF initially backed Amdaris with a £3m investment in May 2020
- BGF is a growth capital investor in the UK and Ireland
BGF has exited its investment in Amdaris, a software development and digital services company, to Insight Enterprises.
Amdaris is headquartered in Bristol, UK. The company reported 94 percent year on year revenue growth in 2022.
BGF initially backed Amdaris with a £3 million ($3.82 million;€3.51 million) investment in May 2020 to support its growth plans.
Amdaris has scaled its operations and opened new offices in Bulgaria and Ukraine during BGF’s investment period. The company’s developer headcount also increased from 250 in 2020 to 735.
“We are very pleased to announce our exit from Amdaris following a successful three-year investment period that has seen the business deliver exceptional organic growth,” said Alex Garfitt, investor at BGF.
Insight will add Amdaris’ software development, application support, managed services and consultancy services to its portfolio and IT supply chain capabilities, according to a release.
BGF is a growth capital investor in the UK and Ireland. The firm has invested £3.5 billion in over 500 companies. It is based in London.
Insight, based in Chandler, Arizona, is a global technology company.