Innoveo Acquired by Tinubu in Strategic InsurTech Deal
Deal News | May 07, 2025 | BDA Partners
BDA Partners has announced the successful acquisition of Innoveo by Tinubu, a leading enterprise software solution provider for the global specialty insurance industry. The deal, supported by Long Arc Capital, enhances Tinubu's ability to serve a broad range of specialty lines within the insurance sector. The integration of Innoveo’s no-code platform with Tinubu’s existing offerings is expected to deliver unmatched speed, flexibility, and innovation to specialty insurance providers worldwide. Vinod Kachroo, CEO of Innoveo, highlighted the potential synergies and access to broader capabilities that this acquisition brings. BDA Partners acted as the exclusive financial advisor for the transaction, and representatives Manoj Balwani and Jyotin Gagrani expressed pride in supporting the strategic InsurTech transaction, marking a significant stride for the US-India corridor.
Sectors
- InsurTech
- Enterprise Software
- Private Equity
Geography
- United States – BDA Partners has facilitated its 12th transaction in the US-India corridor, and the investment firm Long Arc Capital is headquartered in New York.
- India – Part of the transaction's significance is tied to the US-India business corridor, and Manoj Balwani, Head of Technology for the US and India, was involved in the deal.
Industry
- InsurTech – The article discusses an acquisition involving companies providing technological solutions to the insurance industry.
- Enterprise Software – Both Innoveo and Tinubu work within the enterprise software industry, providing platforms that serve the insurance sector.
- Private Equity – Long Arc Capital, a NYC-based investment firm, is involved in the financial backing of the acquisition.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Innoveo | Target Company | Company | A no-code enterprise software company acquired by Tinubu. |
| Tinubu | Bidding Company | Company | Provider of enterprise software solutions for the global specialty insurance industry that acquired Innoveo. |
| Long Arc Capital | PE Investor | Company | A New York-based investment firm that backed the deal. |
| BDA Partners | Financial Advisor | Company | Advised Innoveo and its shareholders on the transaction. |
| Vinod Kachroo | Person | Person | CEO of Innoveo, commented on the acquisition and its benefits. |
| Manoj Balwani | Partner & Head of Technology US & India | Person | Partner at BDA Partners who was actively involved in the advisory role for this transaction. |
| Jyotin Gagrani | Managing Director | Person | Managing Director at BDA Partners, commented on the strategic fit of the deal. |