17 Jan 2021
Investcorp today announced that it has entered into an agreement to acquire Unilog, a leading Software as a Service (SaaS) based e-commerce solutions provider to small and medium businesses based in the United States. Investcorp’s capital backing is expected to support further platform innovation and customer acquisition. Terms of the transaction were not disclosed.
Unilog is a global technology company that delivers powerful, affordable e-commerce solutions and product data enrichment services for the B2B marketplace. It is headquartered in greater Philadelphia, Pennsylvania and has international headquarters in Bangalore, India. Unilog’s cloud-based commerce platform and product data enrichment services help distributors, manufacturers, and wholesalers increase online sales, reduce cost to serve, and enhance their digital channel.
Unilog currently serves more than 350 small and medium enterprises in the approximate US $10 billion market for providing software solution services to distribution & retail businesses operating in the US. Led by CEO Suchit Bachalli, Unilog’s SaaS business has grown its revenues 3x since FY2018.
Gaurav Sharma, Head of Private Equity, Investcorp India said, “Unilog presents an attractive opportunity, as it operates in a large and growing addressable market driven by e-commerce adoption, which has only been further accelerated amidst COVID-19. We believe that Unilog is extremely well-positioned to benefit from this megatrend with a proven and experienced management team led by Suchit.”
Commenting on the investment, Mohamed Al Sada, Head of Bahrain and Kuwait for Investcorp’s Private Wealth said, “Unilog presents an attractive opportunity, as there is a growing market for e-commerce, with COVID-19 accelerating the pace of digital adoption. Unilog has a proven management team that has demonstrated strong business fundamentals and is therefore, well-positioned to benefit from this megatrend. Investcorp has rich experience of investing in the B2B digital commerce software sector, with professionals that bring over 15 years of combined institutional knowledge in the segment. We look forward to supporting the company in its growth and expansion journey.”
Since its inception, Investcorp has made approximately 200 private equity investments in the US, Europe, the Middle East and North Africa region and Asia, across a range of sectors. Investcorp has established a market leading position of investing in lower mid-market technology companies with a specific focus on Software, Data / Analytics, Cyber Security and Fintech / Payments.
In India, Investcorp invests in mid-market companies across consumption-linked sectors. Investcorp targets opportunities across the consumer tech, healthcare, financial services and technology sector. Unilog represents Investcorp’s 10th investment in India over the last four years, with previous investments including: InCred, ASG, Zolo, Citykart, Intergrow Brands, Bewakoof.com, NephroPlus, Freshtohome and XpressBees. The focus is on targeting first-generation entrepreneurs scaling up businesses with asset-light models and proven unit economics.