BP3 Global, based in Austin, TX, is a global provider of digital process transformation software and services to the Fortune 500. BP3’s solutions and services have transformed customer and employee experience in the financial services, retail, healthcare, and energy sectors.
Situation
BP3 is a founder owned Company that was boot-strapped since beginning operations in 2007. In spite of having raised no outside capital, the Company grew successfully to $22.2M of revenue and $3.3M of EBITDA on a March 2016 TTM basis at closing. The founders were seeking partial liquidity, growth capital, and a financial partner who could help the business scale.
Petra’s Role
We completed our investment in June 2016. For the first 18 months of the investment period, BP3 was caught in a market shift away from its IBM-centric business process management legacy. Beginning in 2018, the company focused on profitability and reorienting the business towards robotic process automation (RPA) and intelligent automation solutions. An entirely new set of technology partners was required with relationships built at Automation Anywhere, Pega Systems, UiPath, Camunda and AWS. In 2021 Petra helped BP3 make two small acquisitions: Transform AI in March and Agilify in August. The acquisitions strengthened BP3’s technical team, upgrade its sales function, add expertise in the healthcare vertical, and introduce new technology solutions including intelligent document processing.
Results
In October of 2021 BP3 was acquired by Horizon Capital, a UK-based investor specializing in technology and business services.