The transaction is expected to close in the first quarter of 2024, subject to customary conditions and approvals.
By Global FinTech Series News Desk
Incident IQ, the workflow management platform for K-12 school districts, announced that Cove Hill Partners will join JMI Equity and the Incident IQ founders and management team as strategic investment partners in the Incident IQ business. Incident IQ will continue to be led by Chief Executive Officer, R.T. Collins and the rest of the current management team.
Incident IQ‘s cloud-native platform is presently used by over 1,500 school districts across the United States to manage critical workflows across IT, facilities, HR, and other operations. The iiQ Platform drives efficiencies that allow school systems to devote more time and resources to teaching and learning. The new investment will allow iiQ to accelerate its ambitious product roadmap and strengthen its market-leading position for K-12 schools.
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“This new partnership represents a tremendous opportunity to grow our impact in the districts we currently serve and expand to new opportunities that can benefit from workflow transformation,” stated R.T. Collins, Incident IQ CEO. “We are excited to work with Cove Hill and grateful for the continued support of JMI Equity as we advance our mission serving K-12 schools.”
“Cove Hill is excited to partner with R.T. and the Incident IQ team to support the company’s long-term growth,” said Dan May, Co-Founder and Partner at Cove Hill. “We believe our investment will support Incident IQ to deliver continued product innovation and exceptional service to districts across the country.”
“The impressive growth that Incident IQ has experienced over the last few years is a testament to the value that they have delivered to the districts they serve, enabling teachers and students to spend more time teaching and learning,” said Larry Contrella, General Partner at JMI Equity.
Robert W. Baird & Co. served as financial advisor to Incident IQ on the transaction. William Blair served as financial advisor to Cove Hill. The transaction is expected to close in the first quarter of 2024, subject to customary conditions and approvals.
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