Blend360 raises $100 million from PE firm Recognize

CHENNAI: Blend360, a global provider of data, analytics and talent solutions for Fortune 500 companies, has raised $100 million from tech investment platform Recognize in return for a minority stake. This is Blend360’s first institutional investment.
Recognize is a PE firm started by Cognizant founder Frank D’Souza along with other partners. Post this deal, D'Souza and Mike Grady (partner at Recognize) will be joining Blend360’s board to provide strategic guidance and help expand Blend’s international footprint.
“We intend to become the premier service provider of AI and ML solutions that optimize business results.This investment is another significant step in our journey to do just that," Patrick Hennessy, CEO & Co-founder of Blend360, said.
“When we first connected with Patrick, Tim and the Blend360 team, there was immediate alignment between our expertise at Recognize and the needs of Blend360 to continue this incredible growth they’ve experienced. Patrick and Tim understand how to create, operate and scale a business and we’re looking forward to supporting their efforts through this investment and the ongoing strategic advice we will be providing to maximize this opportunity," said Frank D’Souza, co-founder & managing partner of Recognize.
Blend350 has more than 500 employees with offices in various cities in the US and internationally in India and EMEA.
Evercore, a global investment banking advisory firm, was the exclusive financial partner to Blend360 on this transaction.