Carlton Group bags strategic investment from H.I.G. Capital

SaaS-based solution developer Carlton Group has bagged an undisclosed strategic investment from H.I.G. Capital.

Alongside this new investment, the company is rebranding to Carlton One Engagement as it prepares to launch a range of new initiatives.

Toronto-headquartered Carlton, builds solutions for global engagement, sales incentive, loyalty and reward management. The company operates across two offerings Power2Motivate and Global Reward Solutions. Power2Motivate is an engagement software for motivating, measuring, and rewarding desired behaviour, while Global Reward Solutions offers a selection of items from more than 600 suppliers spread across 180 countries.

This fresh boost of capital will go towards technology development and new service launches. Funds will also be used to support plans for the expansion of its global partnership network and a range of strategic acquisitions.

H.I.G. Growth managing director Nik Shah said, “Rob and the entire team at Carlton have built an impressive SaaS engagement technology business and highly differentiated global rewards platform that delivers substantial value to partners and blue-chip customers on a truly global basis.”

Earlier this week, H.I.G. acquired banking software supplier Velocity Solutions for an undisclosed amount. Velocity builds technology for banks, credit unions and insurers to drive revenue, mitigate risk and maintain compliance.

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