AI-driven Board Intelligence, a leading UK-based board technology and advisory firm co-founded by Jennifer Sundberg and Pippa Begg, has announced a majority investment from K1, a global software focused investor.
This investment will drive Board Intelligence’s growth internationally, with plans for further add-on acquisitions, and allow the company to expand its AI offering.
The business was valued at £100m three years ago and the undisclosed investment from Californian private equity house K1 is thought to value Board Intelligence at $200m+.
Established in 2010 by Sundberg and Begg, Board Intelligence provides software and services that drive better board decision-making.
Their consulting team are trusted advisors to FTSE and Fortune 500 chairs and CEOs, helping to optimise board performance.
Board Intelligence also offers Lucia, an AI-powered report-writing platform helping management teams to prepare shorter, sharper reports for their board.
All of Board Intelligence’s employees hold equity in the business.
Board Intelligence is headquartered in the UK, and trusted by over 40,000 leaders and 3,000 organisations.
Clients include Generali, National Grid, and Zurich Insurance Group.
Sundberg said: “Our mission is to transform the effectiveness of every board in the world. K1’s vision for the future of Board Intelligence and their proven expertise in building category leaders will be instrumental in expanding our growth and the value we deliver to our clients.”
Begg added: “While we have always been a profitable business and did not need capital, we partnered with K1 for their operational expertise in accelerating investments in AI and scaling companies globally through organic and inorganic growth.
“K1 has a history of building category leaders and we’re excited to leverage their experience to strengthen our position globally.”
K1 will assume the position of the only institutional shareholder in Board Intelligence with both Sundberg and Begg continuing as minority shareholders.
Financial terms of the transaction were not disclosed.
Begg and Sundberg were named the EY London Entrepreneur of the Year in 2020. In late 2023 they co-authored Collective Intelligence – How to build a business that’s smarter than you which has been shortlisted for Business Book of the Year 2024.