BDA advises Innoveo on sale to Tinubu

BDA Partners is pleased to announce that its client, Innoveo, has been acquired by Tinubu, a leading provider of enterprise software solutions for the global specialty insurance industry. The deal is backed by Long Arc Capital, a New York-headquartered investment firm. Innoveo is a no-code enterprise software company, recognized for its flexible platform and deep insurance expertise.

BDA acted as exclusive financial advisor to Innoveo and its shareholders on the transaction.

This acquisition will strengthen Tinubu’s ability to serve a broader range of specialty lines—including Surety, Trade Credit, Accident & Health, Marine, Aviation, Transport, Cybersecurity, and Energy—while also providing the agility to address the unique needs of insurers across the specialty market. By combining Tinubu’s flexible end-to-end platforms with Innoveo’s no-code capabilities, the enlarged group will deliver unmatched flexibility, speed, and innovation to specialty insurance providers worldwide.

Vinod Kachroo, CEO of Innoveo, said: “Joining Tinubu allows us to accelerate our mission of helping specialty line insurers grow and transform their operations. Our flexible, highly configurable enterprise solutions have already helped many leading insurers innovate quickly, with confidence of success, cost-effectively. As part of Tinubu, we’ll gain access to broader capabilities, a global client base, and deep expertise — creating powerful synergies that will unlock new value for both existing and future customers. The BDA team played a pivotal role in managing a multi-geography, complex transaction process. Manoj, Jyotin, Shubham and Sian demonstrated professionalism and InsurTech expertise. Their tireless efforts enabled Innoveo to find the right strategic partner for our next phase of growth.”

Manoj Balwani, Partner & Head of Technology US & India, said: “We’re proud to have advised Innoveo and its shareholders on this strategic InsurTech transaction. Innoveo’s no-code platform and deep specialty insurance focus made it a strong fit for Tinubu. We extend our best wishes to the Innoveo and Tinubu teams for their next phase of growth. As software adoption accelerates in the US market, we anticipate significant consolidation activity to be driven by these market leaders. BDA, along with our strategic investor William Blair, has strong credentials in this space to advise leading software and InsurTech companies in their journey of value creation.”

Jyotin Gagrani, Managing Director, BDA Partners, said: “Innoveo has built a unique platform tailored to the needs of the specialty insurance industry. This transaction showcases our expertise in advising clients in Software and SaaS businesses, as well as our reach into the global strategic and private equity investors. Congratulations to the Innoveo and Tinubu teams as they embark on this highly synergistic journey. It’s been a privilege to work together with both teams, to help bring together two complementary businesses, marking BDA’s 12th transaction in the US–India corridor.”