UNITED STATES. New York: Recognize, a technology investment platform, has raised approximately $1.3 billion for its inaugural fund, the firm announced on January 13.
On one hand, disruptive technologies are driving enterprises to reimagine their operating models, and on the other end Recognize seeks to partner with next-generation technology services firms to make the business value of these innovations.
Recognize is exclusively focused on the technology services industry led by industry veterans Frank D’Souza, Charles Phillips, David Wasserman, and Raj Mehta, along with Partners Josh Miller, Deborah Munfa, Mike Grady and Shawn Pride.
Recognize strives to be a first-of-its-kind platform, bridging the gap between inspired technology entrepreneurs unconventional ideas, and strategic capital, operational expertise, and industry insights.
With an aim to deliver digital outcomes for enterprises, Recognize is a platform for entrepreneurs to gain access to exclusive talent networks, intellectual property, corporate relationships, as well as a handbook of best practices to help companies bloom.
Singularly focused on the $2-trillion technology services industry, Recognize has closed on three platform investments of 4,000 employees exhibiting transformative themes in tech services. These investments include Torc, a company redefining the future of work through a virtual talent platform for software engineers; SpringML, one of the largest pure-play services organizations focused on Data, AI/ML, and other Google Cloud solutions; and Ciklum, a leading cloud-native, a digital engineering firm with a delivery network across Eastern Europe.
Co-founder Frank D’Souza said that with the speed of technological innovation changing entire industries, it is imperative for businesses and governments to keep pace.
D’Souza also pointed out that the technology services sector has only attracted one-third of the amount of private equity capital 1 despite the market being 3.5x larger than the software industry, hence underscoring the opportunity for focused investors who have deep knowledge of the industry.
Co-founder David Wasserman stated that Recognize has brought on stage a distinct group of operators and investors, with the focus of empowering the next-generation of industry champions.
“We look forward to partnering with companies and talented management teams to shape this sector.”