Evaluate Ltd. secures additional investment from Hg to drive further growth and expansion

London, UK 3 August 2020. Evaluate Ltd., a leading provider of commercial intelligence and predictive analytics to the pharmaceutical industry, today announces that it has secured additional investment from Hg, Europe’s leading software investor. 

Hg will now become the majority shareholder in Evaluate. Hg’s backing will help Evaluate to continue to build out capabilities that support pharmaceutical portfolio optimisation and R&D productivity, accelerating investment in innovation and data science capabilities. It will also enable options for further expansion. As part of the transaction, Jonathan de Pass, Founder of Evaluate, will remain a significant shareholder and will continue to guide the business as a Director on the Board of Evaluate.

Evaluate is also pleased to announce that Dr. Sati Sian will be appointed as Chair. Dr. Sian is an experienced and proven leader in Evaluate’s sector, bringing over 30 years of global experience in healthcare information, software and services. Dr. Sian joins Evaluate after serving as CEO of Allocate Software between 2015 and 2018, and prior to that was Senior VP for Global Technology and Operations at IMS Health.

Jonathan de Pass, Founder of Evaluate, said: “Hg first invested in Evaluate in 2016. Since then, the business has grown and scaled at a pace and in a manner that simply would not have been feasible without their support. Given this current momentum and the excellent teamwork between Evaluate and our Hg colleagues, I could not think of a better partner with which to continue this journey. I am also delighted to welcome Dr. Sian, an exceptional leader in healthcare technology, as we embark on a truly exciting future for the business.”

Deborah Kobewka, CEO at Evaluate, said: “I’m thrilled that Hg will become the majority shareholder at Evaluate. It shows confidence in the company’s trajectory and allows us to drive the business forward to new levels of growth and expansion, which only increases the value and service Evaluate delivers to clients. The opportunities ahead for Evaluate and our clients are greater than ever, especially as we push further into predictive analytics to revolutionise the pharmaceutical industry’s approach to strategic portfolio optimisation.”

David Issott, Partner at Hg, said: “What Deborah and her team have built over the last few years is a truly exceptional business, offering best-in-class products with the outstanding service its clients demand. Evaluate’s recent performance through the Covid-19 crisis has been nothing short of astonishing and is a testament to the strength of the team. We’re delighted to continue to partner with Jonathan de Pass in backing the business, in a bigger and more meaningful way than ever before.”

Dr. Sati Sian, Chair at Evaluate, said: “Evaluate today has an incredibly strong team that is building on the business’ unique offerings with a powerful set of new capabilities that leverage new technology and unparalleled information assets. I am excited to join the business and support the team to bring innovation to its clients and continue its growth through this next phase.”

About Hg

Hg is a leading European investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has fund under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 30 operators, providing practical support to help our businesses to realise their growth ambitions.

Based in London, Munich and New York, Hg has a portfolio of over 30 software and technology businesses, comprising over 30,000 employees across the UK, US and Europe. For further details, please visit the Hg website: https://hgcapital.com/