With our backing, the digital transformation specialist is set to drive further growth across the UK, US, Europe and the Middle East.
Proventeq, a digital transformation specialist, has secured a multi-million-pound investment from BGF. This investment will boost Proventeq’s offerings in Enterprise Content Management (ECM) modernisation, Intelligent Information Management, and AI-led innovation.
Founded in 2007, with headquarters in the UK, and offices in India, Dubai and the US, Proventeq has a global customer base in over 30 countries. The company is owned by its three founding shareholders: CEO Nitin Mahajan, CTO Rakesh Chenchery, and CCO Balu Herbert.
Proventeq recorded 24% revenue growth last year, assisting companies in migrating and modernising their legacy ECM platforms, implementing compliance and governance solutions, and accelerating the adoption of AI and Copilot-based solutions.
Following BGF’s investment, Proventeq is set to drive further growth across key regions, including the UK, US, Europe and the Middle East. The company aims to capitalise on opportunities in data security, compliance, and AI solutions over the coming years.
“As companies look to modernise their legacy systems and ensure regulatory compliance, robust data management and governance becomes essential. Our goal is to help organisations establish strong foundations with secure and modernised data platforms, enabling them to harness the power of AI and automation. With significant opportunities in the market, we’re delighted to partner with BGF, as we expand and further develop our proposition.”
Nitin Mahajan
CEO of Proventeq
Following an introduction via BGF’s Talent Network, Tim Wallis will also join the Proventeq board as Non-Executive Chair. Tim, former CEO and Founder of Microsoft Partner and SharePoint consultancy Content and Code, brings a wealth of experience from the world of Microsoft Partnerships, and will play a key role in driving forward the growth of the business.
Nitin Mahajan, CEO of Proventeq, commented: “We’re excited to welcome Tim aboard at this stage of our growth journey. He is well respected within the industry and his knowledge of building a digital transformation consultancy is second to none. We look forward to working together over the coming years.”
The deal was led by Guy Pope, Investor in the BGF Reading office, supported by Harry Kernick, Georgie Stratton and Alex Garfitt. This investment from BGF’s Reading office follows a number of recent deals within the Thames Valley region, including a £16.5 million investment into Bournemouth-based advice tech provider Twenty7tec in September.
Proventeq was recently announced winner of Megabuyte’s 2024 Emerging Star Award for the Best Performing Company in Information Management. The business has also featured in the Gartner Market Guide for Cloud Office Migration Tools, and is one of only 20 organisations worldwide to have received Microsoft Preferred Partner Status for Content AI.
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