Bristol Based Senta is acquired by IRIS Software Group at 120x return
Tibbington Consulting Ltd provided seed capital to Bristol based Senta Ltd, who provide cloud-based practice management software for accountants.
Earlier today, shareholders agreed to a 100% acquisition of the company by IRIS Software Group.
The total consideration per share in Senta has been agreed at circa £200, which represents a 120x return for investors who invested in Senta’s first round, the Webstart Bristol cohort.
Subsequent investors in later rounds also received a substantial 20x return, and a 10x return for those who invested in Senta’s most recent round in 2019.
Congratulations to James, Phil and the entire Senta team on creating such fantastic value for their shareholders. Well worth the wait.
Cloud Practice Management
Kevin Dady, Executive Chairman of IRIS Software Group says,
“IRIS Elements was conceived as customers told us they needed to simply and instantly access the relevant business tools to transform their firms. Senta joining the IRIS family allows us to revolutionise the cloud practice management market, delivering the functionality they require today, regardless of location.”
“IRIS’ heritage, combined with our 120,000 customers, investment in cloud technology, sector expertise and direct customer engagement enables us to deliver truly best in class software for the accountancy industry.”
James Kilford, CEO and founder of Senta says, “We know practices are building advisory relationships with their clients and of course there’s even more compliance…this year has shown the need for great tools at the heart of the practice.
We’ve spent six years listening to practices, building features and working hard to look after our clients. With the incredible IRIS resources and working with an amazing IRIS team we’ll be able to take our solution to the next level. We couldn’t be more excited about IRIS investing in Senta and joining the IRIS family.”
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