Newcastle technology firm earns $ 28 million from Silicon Valley giant

“[Getting investment from Accel-KKR] It was a good experience although it was not easy. They must be patient and take the time to get to know each other, which is important for building and testing trust, “said Boyle.

‘I had not done this before, so I recruited our president, Craig Jones. I had previous experience in PE-backed operating software. “

– Adam Boyle, CEO of Pegasus

“I had not done this before, so I recruited our president, Craig Jones, who had previous experience in PE-backed software and understood our business. We also got along well and were able to quickly agree on the steps we had to follow. through positioning the company for investment. “

Accel-KKR is now a minority shareholder in the company. Boyle and Jones own the majority. Accel-KKR director Joe Porten, based in the United States, will take a seat on the Pegasus board of directors, saying he was willing to help with the company’s organic and purchasing geographic expansion plans.

“With the growth of worldwide employment from outside work forces, Pegasus is well positioned to grow its well-established networks of workers,” said Porten.

IPO on the agenda

Boyle said the new round of financing would last five years and that the initial public offering was on the agenda, after the arrival of private equity funds to his books.

Pegasus’ goal in the global security niche in the workplace has remarkable similarities with another regional technology company founded in Australia, SafetyCulture, which started in Townsville, Queensland, and has also raised large amounts of money in the US. UU., Since it seeks to expand the global acceptance of its iAuditor application.

Boyle said the two companies were not rivals, and while SafetyCulture has moved many of its operations to Sydney, Pegasus was eager to stay in Newcastle, two hours north of Sydney.

“For us, attracting talents and strong resources here in Newcastle is always a challenge. There hasn’t been much investment of this type in technology companies in Newcastle before, but we hope this is the beginning of much more to come,” he said.

“We believe that we are demonstrating that we can develop Newcastle’s talent to be competitive globally, in addition to allowing a strong professional and life balance that only Newcastle can provide.”

“We are always connected with our customers and our staff gets the benefit of a lifestyle that cannot match in the bigger cities. Coffee is just as good here. I don’t understand why I would like to travel two hours a day or work to pay the rent when you work in software “.

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