DENVER, CO and AUSTIN, TX (March 9, 2021) – iN2L (the “Company”), the leading provider of person-centered digital engagement solutions for the senior living market, today announced a strategic investment from Vista Equity Partners (“Vista”), a global technology investor focused on enterprise software, data and technology-enabled businesses. The growth capital will help iN2L further scale and accelerate its mission to meaningfully impact the lives of older adults through industry leading technology-enabled engagement solutions. iN2Ls existing investors, the healthcare growth capital firm Hughes & Company and the strategic healthcare investment firm Chicago Pacific Founders, will continue as minority investors in the company.
Founded in 1999, iN2L pioneered the use of content-driven engagement to support social interaction, cognitive and physical exercise and therapy, education, reminiscing, areas of interest, memory support and more with touch screen systems ideal for both group engagement and individual experiences. The Company now has 10,000 of its systems integrated as a critical part of the experience in assisted and independent living communities, nursing homes, memory care settings, CCRCs, life plan communities, and adult day programs across the United States and Canada, and most recently, for older adults living at home.
“As we continue to see a rise in demand for senior engagement technology, we look forward to benefiting from Vista’s unparalleled enterprise software and operational expertise,” said Lisa Taylor, CEO of iN2L. “The pandemic has demonstrated how critical social connection and engagement are to the senior living experience, and we are confident in Vista’s ability to help scale our business so we can continue to deliver the experiences that are crucial for residents, families, and caregivers.”
“The need for bolstering social connection and purposeful engagement for a growing population with increased life expectancy has always been important, but COVID-19 brought the social isolation challenge in the senior living industry to the forefront, and iN2L is uniquely positioned to address these challenges through its industry leading engagement technology,” said Rene Yang Stewart, Senior Managing Director and Co-Head of the Vista Endeavor Fund. “We are excited to partner with Lisa Taylor and the iN2L team in its next phase of growth and assist in their mission to meaningfully impact the lives of older adults and advance the use of engagement technology to reduce social isolation and support personalized engagement experiences.”
The investment in iN2L is made by Vista’s Endeavor Fund, which is focused on mission-critical, high-growth enterprise software, data, and technology-enabled businesses seeking to expand their impact in the markets they serve. Endeavor partners with companies and their management teams, providing the capital, expertise, and support to build an operational foundation for sustainable growth while accelerating market leadership. Through its partnership with iN2L, Vista will help the Company broaden and strengthen its solutions as well as identify opportunities for continued growth.
Aeris Partners LLC served as the exclusive financial advisor to iN2L. Cooley LLP acted as legal counsel to iN2L, and Kirkland & Ellis LLP served as legal counsel to Vista.
As the market leader in content-driven engagement for seniors, iN2L has been creating possibilities, enjoyment, and connection for older adults since 1999. iN2L’s expansive content library promotes wellness, empowerment, and engagement among older adults and is the foundation for activities that facilitate social interaction, cognitive and physical exercise and therapy, education, reminiscing, areas of interest, and memory support engagement. iN2L is a critical part of the resident experience in more than 3,700 nursing homes, assisted and independent living communities, memory care settings, CCRCs, life plan communities, and adult day programs across the U.S. and Canada.
About Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity.
About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to best-in-class software and Software-as-a-Service (SaaS) companies, private equity investors and venture capital firms spanning a range of high-growth vertical markets including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), energy & power (EnergyTech), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $30 billion of M&A advisory assignments to date. For more information, please visit: aerispartners.com.
Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.