iLink Digital Secures Minority Investment Partnership with True North
Secures Minority Investment Partnership with True North
Bothell, WA – October 06, 2023 —
iLink Digital, a leading provider of digital transformation solutions, has secured an investment of USD 75 Mn from mid-sized private equity firm, True North. This significant investment underscores the confidence and trust in the foundation established by our co-founders, Sree Balaji and Sridhar Mahadevan – both first-generation entrepreneurs who embarked on this journey over two decades ago in Seattle, USA.
This collaboration amplifies our shared vision to build on iLink Digital’s foundational success while preserving the core cultural values that make our firm unique. The commitment, professionalism, and expertise of our management have always kept us ahead in the digital tech arena.
This investment has been facilitated through True North’s Fund VI, marking the fund’s third investment in the Technology Services sector. It further underlines True North’s optimism about the prospects of the IT services industry and its drive to build the next generation of globally respected IT service companies.
Spanning across 18 offices in 8 countries, our diverse and talented team of 2,500 members has driven digital innovation across numerous Fortune 1000 companies. Based in regions like the USA, India, Mexico, Portugal, Canada, UAE, Malaysia, and Singapore, we harness modern technologies to address the ever-evolving business landscapes.
Our esteemed partnerships with technology giants like Microsoft, Salesforce, AWS, UiPath, Outsystems, Databricks, and Confluent, built over many years, have not only recognized us as a top-tier partner but have also brought numerous accolades our way, including the prestigious Microsoft Partner of the Year award.
The investment proceeds will fuel our M&A ambitions, fortifying our technological and domain prowess. We also plan to channel funds to bolster iLink Digital’s key growth drivers: our valued employees and cherished clients.
Prasad Thrikutam, Partner at True North, says, “iLink Digital perfectly reflects our fundamental approach to investing in digital product engineering companies. We want to invest in fast-growing, highly differentiated, innovation-led, globally present, and platform-focused digital engineering companies. We believe that the 2020s will breed a new set of challenges and future leaders in the IT tech services landscape; ones who will challenge scale with speed, and incumbency with innovation. iLink, from its inception, has built deep technology expertise by carefully curating and nurturing deep partnerships with leading tech platforms, delivering exceptional value to its global clients.”
Sree Balaji, Group CEO of iLink Digital, added, “Today we take our first step towards the next and the most exciting phase of our growth journey, along with True North. We are thrilled about this partnership and, with our combined resources, we are uniquely positioned to help our clients tackle their most difficult challenges and to enable them to change their competitive position using technology. We arrived at this decision to partner with True North after a careful evaluation process involving multiple parties and we believe that True North is ideally positioned to help us in the next phase of our journey. Their deep knowledge of the technology sector, efforts to assist companies with M&A, and their ability to help us with our long-term objective of launching a successful IPO in the Indian public markets in the coming years were decisive factors in our decision. Most importantly, True North’s ethos resonates with our values and culture.”
About True North
Founded in 1999, True North is one of India’s most respected home-grown private equity firms with a focus on investing in and transforming mid-sized profitable businesses into large, well-established businesses that are valuable, enduring, and socially responsible. In Private Equity, True North has successfully launched six separate investment funds with a combined corpus of ~ USD 3 billion, including co-investments. True North’s deep insights and understanding of India have added value to more than 50 businesses over the last 24 years across sectors such as consumer, financial services, healthcare, and technology.
For more details, visit: True North
About iLink Digital
Founded in 2002, iLink Digital is a digital transformation service company that aids organizations in utilizing technology to enhance commercial outcomes. iLink Digital offers end-to-end solutions spanning Product Engineering, Data Engineering and Analytics, Cloud Operations and services, Business Applications consulting, and RPA consulting. With over 20 years of experience in the IT sector, iLink Digital caters to various high-growth opportunities throughout its Innovate-Build-Manage lifecycle.
For more details, visit: iLink Digital
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