Press release

Audax Private Equity Announces Partnership with Astute, Inc.

Sponsored by Businesswire

Audax Private Equity (“Audax”) today announced it has made an investment
in Astute, Inc., (“Astute” or “the Company”), a leading provider of
AI-driven customer engagement, digital self-service, and first-party
consumer data management software headquartered in Columbus, OH.

Ray Carey, CEO of Astute, said, “We’re looking forward to partnering
with Audax as we embark on an exciting new chapter of our story.
Astute’s mission is to help our clients create amazing customer
experiences that drive loyalty, revenue, and brand protection, and we’re
excited about the resources and expertise Audax brings to support that

In the past year, Astute has received numerous industry awards for
product innovation and expanded its leading presence in the customer
experience software market both in North America and Europe through the
strategic acquisition of its primary consumer affairs competitor.

Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said,
“Astute’s software assists the world’s largest consumer brands in
capturing and analyzing insights to improve customer engagement and
satisfaction. There are exciting growth opportunities on the horizon for
Astute as they continue to grow organically and through strategic
acquisitions, both foreign and domestic. We are thrilled to support Ray
and the Astute team as they continue to innovate in this exciting space.”

Terms of the transaction were not disclosed. Lazard acted as exclusive
financial advisor and Perkins Coie LLP served as legal counsel to
Astute. Ropes & Gray LLP served as counsel to Audax.


Astute builds AI-driven software for the future of consumer engagement.
We help the world’s best brands enhance engagement with their consumers
by contextually blending human and artificial intelligence. Astute’s
technology enables companies to provide more efficient customer service,
protect their brands, and increase customer loyalty. Learn more at


Audax Group is a leading alternative investment manager with offices in
Boston, New York, and San Francisco. Since its founding in 1999, the
firm has raised over $24 billion in capital across its Private Equity
and Private Debt businesses. Audax Private Equity has invested over $5
billion in 120 platforms and 750 add-on companies. Through its
disciplined Buy & Build approach, Audax seeks to help platform companies
execute add-on acquisitions that fuel revenue growth, optimize
operations, and significantly increase equity value. With more than 240
employees and over 100 investment professionals, the firm is a leading
capital partner for North American middle market companies. For more
information, visit the Audax Group website