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August 14, 2019
Investment will accelerate growth and innovation in providing data-driven insights to the life sciences industry
WATERTOWN, MA and NEW YORK, NY, August 14, 2019—InCrowd, Inc. (“InCrowd”), a pioneer of real-time data market insights in the life sciences industry, has announced that an affiliate of SARORAS Private Capital (“SARORAS”), a private equity investment firm focused on the technology-enabled services industry, has made a majority investment into InCrowd. The SARORAS team has significant experience investing in and building industry-leading companies in the data-driven insights and other growth-oriented industries.
In conjunction with the investment, Daniel S. Fitzgerald, has been named chief executive officer & president of InCrowd. Dan Fitzgerald has over 25 years of proven management and operating experience in the insights and data services industry and was most recently a senior executive at Reimagine Holdings Group (now Dynata), and Lightspeed and Global Market Insite, Inc. (now Kantar).
“We see tremendous opportunity in providing innovative, technology-enabled data services and market research solutions to the life sciences and broader healthcare industry,” said Dan Fitzgerald. “The life sciences industry needs fast, efficient, and trusted data and insights powered by automated, easy-to-use technology. InCrowd is an industry pioneer providing agile, automated data-driven insights and has a real first-mover advantage with a great opportunity to grow. We intend to continue providing InCrowd’s clients with leading products and services to support their key marketing decisions and business intelligence.”
The co-founders of InCrowd, Janet Kosloff, former CEO, and Diane Hayes, former president, will continue as investors and become members of InCrowd’s board of directors.
“Diane and I are excited about the next phase of growth for InCrowd,” said Janet Kosloff. “Our new investors have significant experience building and growing businesses in our industry. We have great alignment of vision and strategy and look forward to working with them to build on the success we have had to date. Our team will thrive under their leadership, and our clients will continue to enjoy high-quality insights and service.”
The SARORAS team, led by incoming board chairman John Almeida, will work closely with InCrowd’s management team to support an aggressive growth strategy. “The InCrowd management team has built a great business—an innovative technology and service offering, blue chip customers and a bold vision for the future. We are excited to support the next phase of InCrowd’s growth strategy,” John Almeida added.
SARORAS provides equity capital to growing companies in the technology-enabled services industry. SARORAS aspires to build industry-leading companies supporting innovative and entrepreneurial management teams to generate long-term, sustainable growth. The SARORAS team works to identify businesses with growing end markets, strong secular trends, and attractive business models. For more information, please visit https://saroras.com.
March 26, 2020
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