We’re delighted to announce the sale of Kirona, the leading provider of field service management software solutions, to Advanced, a provider of business software and services.
The exit, which was originally made from Livingbridge’s Enterprise 1 Fund will generate a gross return of 3.1x to investors.
Kirona was founded by David Murray, CEO and Neil Harvey, CTO in 2003 with the vision to design, build and deliver market-leading Field Service Management Solutions. Kirona’s solutions enable field-based workers to operate much more efficiently and deliver the best possible service to their customers. Livingbridge invested in December 2014 backing the existing team to continue to drive growth through product, service and vertical expansion, capitalising on the market leading position within social housing.
During Livingbridge’s tenure as an investor, Kirona has grown every year and reached significant milestones, including developing additional complementary IP to sell into its existing 350+ customer base and further expansion into new verticals including local & central government, utilities & infrastructure and retail.
Commenting on the exit, David Murray, CEO of Kirona said:
“We are delighted with the progress that we have made over the past four years. With Livingbridge’s support we have realised the ambition of becoming one of the leading specialist workforce management and resource scheduling software providers across multiple sectors.”
Pete Clarke at Livingbridge said:
“It’s been great to work with David, Neil and the team at Kirona since our original investment in 2014. We are really proud of the progress Kirona has made in reinforcing its position as a clear market leader in the sector. We look forward to seeing their growth trajectory continue over the coming years.”
The Livingbridge team (Pete Clarke, Charlie Ross) were advised by Clearwater International (Carl Houghton, Wes Fell-Smith, Kirsty Handley and Finn O’Driscoll) and Pinsent Masons (Vicky Jew, Gregg Davison).