YourEncore, the maker of an enterprise platform focused around research, development and commercialization challenges, has sealed an undisclosed amount from Accel-KKR, the company announced Tuesday. The money will be used for expansion efforts.
YourEncore, a leading provider of innovation solutions serving the research and development needs of Global 500 customers, today announced it has received a strategic growth equity investment from Accel-KKR, a leading technology focused private equity firm.
Founded in 2003, YourEncore provides innovation solutions and related services to help Global 500 customers navigate and solve complex research, development, and commercialization challenges through a proprietary platform and online innovation community of veteran scientific, engineering and technical subject matter Experts. From its original foundation through a partnership with Procter & Gamble, Eli Lilly and Company, the Boeing Company, and General Mills, YourEncore has rapidly grown to serve Clients across the Pharmaceutical, Biotechnology, Consumer Care, Food, and Aerospace industries throughout North America, Latin America, Asia and Europe. YourEncore’s customer base includes 9 of the 12 largest Pharmaceutical companies, 4 of the 6 top Food companies, and 5 of the 8 largest Consumer Care companies.
The investment will be used to fund expansion and further deployment of the Company’s pioneering business model, fuel continued growth of YourEncore’s high profile Global 500 Clients and Expert base, and fund aggressive expansion of the Company’s innovative proprietary technology and software, including an online and on-demand community of veteran Experts.
“This is an exciting time in YourEncore’s history and a game-changing partnership that provides us with the capital and thought leadership to accelerate our strategic growth plan. Accel-KKR is a significant partner that will help expand our unique business model of applying expertise from the rapidly growing population of veteran Experts to help solve our Client’s complex business and technical challenges,” said Brad Lawson, CEO and Co-Founder of YourEncore. “The worldwide focus on health and wellness in the Life Sciences, Pharmaceutical, Food and Consumer Care industries demand continual innovation and will continue to drive demand in our services and solutions. With our truly revolutionary business model and leadership in these industries and by working together with Accel-KKR we remain poised to continue to deliver demonstrable value for our Clients and provide a unique opportunity for our Experts.”
“Capitalizing on a market-defining business model, a strong and growing community of veteran Experts and established relationships with blue-chip global Clients, the YourEncore management team has established themselves as an industry leading provider of R&D and commercialization solutions,” said Greg Williams, Managing Director of Accel-KKR. “We look forward to partnering with YourEncore as it continues to demonstrate its differentiated value proposition to a growing base of Global 500 Clients.”
“Joining the Accel-KKR portfolio further establishes our unique position in the Innovation Marketplace and introduces new opportunities for growth that will ensure our services and solutions continue to deliver demonstrable value to our Clients and unique opportunities for our Experts,” said Tim Tichenor, CFO and Co-Founder of YourEncore. “The timing of this partnership with Accel-KKR is perfect and we look forward to showcasing how this investment will provide a catalyst for the future growth of YourEncore.”
YourEncore is a leading provider of innovation solutions serving the research, development, and commercialization needs of corporate Clients across the Pharmaceutical, Biotechnology, Consumer Care, Food and Aerospace industries. YourEncore provides an online and on-demand innovation community and related services to help customers navigate and solve complex research, development, and commercialization challenges. YourEncore leverages a proprietary platform of veteran scientific, engineering and technical Experts that provides its Clients with innovation services and solutions based on highly differentiated and unique expertise. Named by Entrepreneur Magazine in 2011 as one of the 100 Most Brilliant Companies, YourEncore continues as the market innovator in delivering a truly unique business model established market leader in a business whose growth is fueled by the convergence of three global trends: 1) Companies are faced with an aging work force and a rapidly growing population of world-class veteran scientists, engineers and technical subject matter Experts that are nearing retirement, 2) High profile companies are aggressively applying innovation to drive new products and services along with bottom-line cost savings and efficiencies, and 3) Worldwide focus on health and wellness is driving record investments in the pharmaceutical, life sciences, food and consumer care industries.
Accel-KKR is a technology-focused private equity firm with over $1.3 billion in assets under management. The firm’s recently raised Structured Capital Fund targets minority equity investments in software and technology enabled businesses well positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through Accel-KKR and its network. Accel-KKR has a particular focus on investments in family-owned or closely-held private companies, going-private transactions and divisional buyouts of larger companies.