Proventeq has secured a multimillion-pound investment from BGF, one of the largest growth capital investors in UK and Ireland.
The investment is set to boost Proventeq’s offerings in Enterprise Content Management (ECM) modernisation, Intelligent Information Management and AI-led innovation.

Established in 2007, Proventeq is headquartered in the UK and operates globally with offices in India, Dubai, and the USA. Led by its founding shareholders, CEO Nitin Mahajan, CTO Rakesh Chenchery, and CCO Balu Herbert, the company serves a diverse customer base across more than 30 countries.

Nitin Mahajan has welcomed the investment, saying, "Our goal is to help organisations establish strong foundations with secure and modernised data platforms, enabling them to harness the power of AI and automation. With significant opportunities in the market, we’re delighted to partner with BGF as we expand and further develop our proposition. This investment also enables us to enhance our existing team's expertise and attract top talent to strengthen the team.”

 

 

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BGF's investment enables us to expand our product offerings, elevate our team's expertise in AI, and capitalise on key growth opportunities.

Nitin Mahajan,

Chief Executive Officer
Accelerating innovation


The investment from BGF will support Proventeq's plans for substantial growth across core regions including the UK, USA, Europe, and the Middle East, positioning the company to capture emerging opportunities in data governance, compliance, and AI. 

Rakesh Chenchery, CTO, said, “This investment from BGF empowers us to accelerate our Product IP development efforts and deepen our capabilities in AI, Intelligent Information Management and more, better positioning us to meet our clients’ evolving needs. With BGF’s support, we’re well-positioned to bring even more impactful solutions to market.”

Building on success


Recently awarded Megabuyte’s 2024 Emerging Star Award for the Best Performing Company in Information Management, Proventeq has an outstanding track record in its field. Its success migrating clients from legacy ECM systems to more agile and compliant content services platforms has seen the company achieve 24% revenue growth in the last year. CCO Balu Herbert feels the investment should further enhance the customer focus that has underpinned the company’s growth to date, “allowing us to provide exceptional value to our clients through expanded offerings and robust, scalable solutions.”

Expansion of strategic leadership team


As part of the investment deal, Tim Wallis, former CEO and founder of Microsoft Partner and SharePoint consultancy Content and Code, will join Proventeq’s board as Non-Executive Chair. Introduced to Proventeq by BGF’s Talent Network, Tim has deep expertise in digital transformation and Microsoft partnerships, which will support Proventeq’s strategic growth.

CEO Nitin Mahajan said, “Tim’s industry knowledge and experience in building a digital transformation consultancy are invaluable, and we look forward to working together on our growth journey.”

"This investment enables us to enhance our existing team's expertise and attract top talent to strengthen the team."

BGF’s partnership with Proventeq


BGF, the most active investor in the UK, has recently made a number of investments across the Thames Valley region, including a £16.5 million investment in advice-tech provider Twenty7tec. Guy Pope, BGF investor, commented on the critical need for experienced, tech-enabled consultancies, particularly within the AI and compliance sectors, saying, “Proventeq is an exciting tech business operating in market with strong growth dynamics. The company has a highly experienced, technical management team with an impressive blue-chip client base. We look forward to supporting the business and working alongside Tim Wallis as we look to scale the business in the future.”