Kennet-, Eight Roads-backed Rimilia sold to trade for up to $150m

The purchase price of $150m includes $120m in cash, payable at close of the transaction, and additional cash payments of up to $30m upon certain earnout conditions being met.

The company was part of Kennet IV, which closed on €105m in April 2015. Eight Roads invested from its third-generation fund, which closed on $375m in March 2018.

Nasdaq-listed BlackLine is an LA-based enterprise software company with a market capitalisation of $5.182bn.

The acquisition is expected to expand BlackLine's capabilities into an adjacent product area, adding accounts receivables automation to financial close automation.

Previous funding
In 2017, Rimilia raised $25m in a financing round co-led by Kennet and Eight Roads.

In February 2020, Silicon Valley Bank, Kennet and Eight Roads led a $15m round for the company.

Company
Founded in 2008, Rimilia employs more than 70 people at its headquarters in Bromsgrove, and has clients across Europe and the US. The company offers a cloud-based platform that enables accounts receivable automation and digital transformation.

People
Rimilia – Kevin Kimber (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Technology
• Kennet Partners
• Trade sale
• United Kingdom