India’s True North sells Actify Data Labs to global survey platform Voxco

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Indian private equity firm True North Tuesday announced that it has signed a definitive agreement to sell its entire stake in Actify Data Labs, a greenfield data-driven analytics company, to global omni-channel survey platform Voxco.

Funding for the acquisition comes from Pivoton Capital, a current syndicate of Canadian and US private equity investors, True North said in a statement without disclosing further details.

The power of the Actify platform will be a key element in strengthening Voxco’s experience management offering, the statement said. With Actify’s artificial intelligence and machine learning capabilities, companies will be able to deliver business outcomes like enhancing revenue by driving loyalty and maximizing customer lifetime value, it added.

“Our mission at Voxco is to transform the actionable insights industry and remove the technological barriers for professionals to enable a seamless research technology experience. Combining forces with Actify will create a perfect mix of capabilities to fuel the future of experiences for companies. This will enhance our experience management offering globally,” said Sumit Aneja, CEO of Voxco.

Headquartered in Bengaluru, Actify Data Labs is an augmented intelligence company that provides data science and data engineering capabilities. It claims to have helped several leading enterprises leverage data using its technology lab and analytics platform ADAPTify.

“AI is revolutionizing the experience management landscape. Data is the heart of AI and the fuel to drive new age omnichannel experience management platforms. We are thrilled to be part of a global leader like Voxco where our technology will play an integral role in reimagining the research technology, survey and experience management platform of the future,” said Hindol Basu, CEO of Actify Data Labs.

True North had incubated Actify Labs in 2018 with an initial commitment of $10 million. The private equity investor has so far launched six separate investment funds with a combined corpus of ~$3 billion including co-investments.

True North has marked a couple of exits in the last few months. Last October, it partly sold its stake in pharmaceuticals-focused platform Integrace Pvt Ltd to Singapore state investor Temasek Holdings. In September, the firm announced that it will divest its holdings in RDC Concrete, a non-cement readymix concrete company. to construction materials marketplace Infra.Market.

Its other prior exits include Policybazaar, Fincare Small Finance Bank, SeedWorks International, and Atria Convergence Technologies.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.