IsoMetrix, which was acquired in October last year by The Carlyle Group, through its USD 698 million Carlyle Africa (Buyout) Fund, has received an initial injection of growth capital of more than USD 6 million, from Carlyle as well as minority participants. The funds will be used to accelerate the company’s recent growth in the Americas and further enhance the IsoMetrix technology platform. As Dennis Marketos, group CEO, explains: “We will be investing a significant portion of the funds in accelerating our R&D efforts. The innovation within our technology has been behind our success to date, and we will be upscaling this investment to ensure our software continues to provide us a competitive edge in the market.”
IsoMetrix is one of very few products that provide a single, homogeneous platform for all its solutions. “Our approach to growth is organic,” adds Marketos. “Our enterprise customers are signing up not only due to the product’s hyper-agility, but due to the breadth of the solutions we offer, and the fact that we offer a uniform platform across all our solutions.”
Funds will also be invested in growing IsoMetrix’s market share in the Americas, with a specific focus on the extractive industries, which have historically comprised the majority of the company’s customer base. Canada, as the leading jurisdiction for mining companies globally, is a key target market, and IsoMetrix will be using the investment to beef up its Toronto office.
“We will be significantly expanding our sales force,” says Toronto-based Cecilia Jofre, Chief Sales Officer at IsoMetrix. “We look forward to introducing more North American companies in the extractive and related heavy industries to the efficiencies and insights IsoMetrix can provide.”