Hippo, a digital transformation provider of User-Centric Design (UCD) solutions to the UK public sector, is in the final stages of securing a new strategic investment partner, Exponent, a European private equity firm, to support the business through the next phase of its growth journey.
Hippo was founded in Leeds in 2016 by Adam Lewis and Rob Coop and today is one of the largest independent digital services consultancies in the UK, delivering end to end strategy, design and data services across both private and public sector organisations. Hippo clients include NHS, DFE, BBC and Virgin.
Exponent will support the existing management team, led by co-founder and Chief Executive Adam Lewis, to continue to scale the company’s operations and strengthen its engineering, data and artificial intelligence capabilities. Paul Nannetti is joining the business as Chair.
Adam Lewis, founder and CEO of Hippo, said: “I am proud of how far we have come since we took on an investment partner four years ago. The business has doubled in size, built out a best-in-class engineering function and acquired critical data expertise when we welcomed The Data Shed.
“We’ve successfully expanded into the private sector, helping our clients scale while staying true to our founding belief — that exceptional services are built with humans at the heart of every decision.
“Hippo has reached a pivotal moment in its growth journey, making this the perfect time to bring on a new strategic partner to support the next phase. Exponent’s investment provides the backing we need to continue investing in our capabilities and scaling the business as one of the UK’s leading independent digital services consultancies.
“Importantly, this move also allows us to retain our independence and values, ensuring we can continue making the right decisions for our employees and clients.
“Together, we have an exciting opportunity to design exceptional services built around real human needs. I’m excited to see what we can achieve together.”
Mark Taylor, Partner at Exponent, said: “We are excited to be supporting a business that will play a critical role in unlocking the government’s strategy of digitising public services.
“Hippo has established itself as a leading and trusted digital transformation provider and exemplifies the best of UK tech innovation, with an outstanding reputation in its core public sector market. We see a tremendous opportunity for the business to meet a wider range of customer needs and we look forward to working closely with the team in the years ahead.”
The transaction is subject to regulatory approval, with completion expected in early April.
Hippo was advised by several Yorkshire-based advisors, with KPMG providing lead advisory support, Squire Patton Boggs advising on legal, Park Place advising Management, and Grant Thornton assisting with financial and tax due diligence support.
