RALEIGH – A year after a merger with backing from private equity firm TA Associates, insightsoftware on Wednesday disclosed it has secured another major investor – San Francisco-based Genstar.

The capital infusion from a second private equity firm gives more momentum to the firm, which focuses on enterprise resource planning (ERP) and enterprise performance management (EPM).

“The addition of Genstar as a strategic investor underscores the overwhelming demand and market opportunity for real-time ERP-based automated reporting and analytics,” a spokesperson for the company says.

Genstar has more than $17 billion in assets under management. TA Associates, which has offices in Silicon Valley, Boston and elsewhere, has raised more than $32 billion.

insightsoftware recently moved into a new headquarters in Raleigh and how has more than 450 employees to support some 375,000 customers. It recently announced plans to hire an additional 40 people.

Raleigh startup Insightsoftware moves to new HQ, looking to hire 40

While the firm won’t disclose specific financial information it says revenue has grown 300 percent since the merger.

“We are fortunate to attract this level of investment and attention so early into our company’s formation,” said Mike Lipps, CEO of insightsoftware, in the announcement. “Genstar’s capital infusion validates the growth strategy we embarked upon with TA Associates in 2018, the capabilities of our team, and the value we deliver for our customers and ERP partners every day.”

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About the investment, Eli Weiss, Managing Director of Genstar, noted: “Mike Lipps and his team at insightsoftware have built a great company with impressive momentum and future growth potential. The company’s products deliver compelling value to customers with immediate ROI for operational and financial reporting. With Genstar’s investment, we will help the company extend its leadership in reporting while enabling new avenues for growth, including global expansion.”

Added Hythem El-Nazer: “This first year has been exciting and we are proud of the tremendous progress and growth achieved. We look forward to continuing our investment alongside Genstar Capital, helping insightsoftware expand into new geographic regions, including EMEA and APAC, and new product categories such as planning and forecasting.”