Fourth is a provider of SaaS solutions to the hospitality industry
How we helped
Fourth provides SaaS solutions to the hospitality industry, connecting its international customers with their business data to give them visibility and insight.
- During our investment Fourth expanded internationally, acquiring Adaco, a US based SaaS business focussed on the international hotel sector, in 2012, and Team Hours, a transformational labour productivity business in 2014.
People & culture:
- We supported the business with the appointment of Neville Davis as Non-Executive Chair, in addition to a new CFO and International Sales Director.
During our investment Fourth’s profit and revenue grew in excess of 26% per annum (EBITDA CAGR was 26% and revenue CAGR 27%) and employee numbers doubled to 350+ across London, the US and Bulgaria. In 2015 we realised our investment to Insight Venture Partners, delivering a multiple of 3.5x and a 35% IRR.
In 2019 Fourth joined forces with HotSchedules to become a global leader in end-to-end restaurant and hospitality management technology and solutions, serving customers in 120,000 locations worldwide.