AI-driven Board Intelligence, a prominent UK-based firm specializing in board technology and advisory services and co-founded by Jennifer Sundberg and Pippa Begg, has secured a majority investment from K1, a global investor with a focus on software.
This investment will accelerate Board Intelligence’s global expansion, support additional acquisitions, and enhance its AI capabilities. Previously valued at £100 million three years ago, the company is now estimated to be worth over $200 million following the recent undisclosed investment from K1, a private equity firm based in California.
Founded in 2010 by Sundberg and Begg, Board Intelligence delivers software and services designed to enhance board decision-making processes. Their consulting team serves as trusted advisors to chairs and CEOs of FTSE and Fortune 500 companies, focusing on optimizing board effectiveness. In addition, Board Intelligence provides Lucia, an AI-driven platform that assists management teams in crafting concise and focused reports for their boards.
Board Intelligence, based in the UK, is a trusted partner for over 40,000 leaders and 3,000 organizations. Their clientele includes major companies such as Generali, National Grid, and Zurich Insurance Group.
Sundberg said: “Our mission is to transform the effectiveness of every board in the world. K1’s vision for the future of Board Intelligence and their proven expertise in building category leaders will be instrumental in expanding our growth and the value we deliver to our clients.”
Begg said, “While we have always been a profitable business and did not need capital, we partnered with K1 for their operational expertise in accelerating investments in AI and scaling companies globally through organic and inorganic growth. K1 has a history of building category leaders and we’re excited to leverage their experience to strengthen our position globally.”
K1 is set to become the sole institutional shareholder of Board Intelligence, with Sundberg and Begg remaining as minority shareholders. The financial details of the deal have not been made public.
In 2020, Begg and Sundberg were recognized as EY London Entrepreneurs of the Year. In late 2023, they co-wrote “Collective Intelligence – How to Build a Business That’s Smarter Than You,” a book that has been shortlisted for the Business Book of the Year 2024 award.