Incident IQ to Accelerate Growth with Strategic Investment from Cove Hill Partners
Cove Hill to join JMI Equity as Partners in Accelerating Growth for Leading K-12 Workflow Management Platform
Atlanta, Georgia, Feb. 08, 2024 (GLOBE NEWSWIRE) — Incident IQ, the leading workflow management platform for K-12 school districts, announced today that Cove Hill Partners will join JMI Equity and the Incident IQ founders and management team as strategic investment partners in the Incident IQ business. Incident IQ will continue to be led by Chief Executive Officer, R.T. Collins and the rest of the current management team.
Incident IQ’s cloud-native platform is presently used by over 1,500 school districts across the United States to manage critical workflows across IT, facilities, HR, and other operations. The iiQ Platform drives efficiencies that allow school systems to devote more time and resources to teaching and learning. The new investment will allow iiQ to accelerate its ambitious product roadmap and strengthen its market-leading position for K-12 schools.
“This new partnership represents a tremendous opportunity to grow our impact in the districts we currently serve and expand to new opportunities that can benefit from workflow transformation,” stated R.T. Collins, Incident IQ CEO. “We are excited to work with Cove Hill and grateful for the continued support of JMI Equity as we advance our mission serving K-12 schools.”
“Cove Hill is excited to partner with R.T. and the Incident IQ team to support the company’s long-term growth,” said Dan May, Co-Founder and Partner at Cove Hill. “We believe our investment will support Incident IQ to deliver continued product innovation and exceptional service to districts across the country.”
“The impressive growth that Incident IQ has experienced over the last few years is a testament to the value that they have delivered to the districts they serve, enabling teachers and students to spend more time teaching and learning,” said Larry Contrella, General Partner at JMI Equity.
Robert W. Baird & Co. served as financial advisor to Incident IQ on the transaction. William Blair served as financial advisor to Cove Hill. The transaction is expected to close in the first quarter of 2024, subject to customary conditions and approvals.
About Incident IQ
Incident IQ is the workflow management platform built exclusively for K-12 schools, featuring asset management, IT ticketing, facilities maintenance solutions, and more. Over 10 million students and teachers in more than 1,500 districts rely on the Incident IQ platform to manage mission-critical workflows. Learn more at incidentiq.com.
About Cove Hill Partners
Cove Hill Partners is a long-term oriented investment firm focused on partnering with outstanding management teams to build market-leading technology and consumer companies. The firm manages long-duration funds with over $2.5 billion of commitments from its investors and founders. The firm was founded in 2017 by seasoned private equity investors to invest their personal capital alongside a small group of like-minded investors. Based in Boston, Cove Hill has an innovative structure that provides the flexibility to enable a patient, concentrated, and value-add approach in a small portfolio of long-term investments.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. For over three decades, JMI has partnered with exceptional founders, entrepreneurs, and management teams at high-growth software companies to provide flexible capital, industry expertise, and operational support to build businesses of enduring value. To date, JMI has invested in over 180 software businesses in North America and Europe and completed over 115 exits. Today, the Firm’s portfolio of industry-leading cloud software companies represents $8 billion in combined revenue, $65 billion in aggregate enterprise value, and over 34,000 jobs.
This press release includes views and opinions of external contributors. JMI believes this information to be accurate and current as of the date of publication but cannot guarantee its accuracy. JMI disclaims any duty to update this press release, or any content contained therein based on future developments. The JMI portfolio company(ies) identified above are not necessarily representative of all JMI investments, and no assumption should be made that the investments identified were or will be profitable. For a complete list of JMI investments, please visit www.jmi.com/companies/.
