Recognize Technology Investment Platform Closes $1.3 Billion Growth Fund

Recognize, a new technology investment platform has raised about $1.3 billion for its first fund.

Exclusively centered on the $2 trillion technology services industry, the New York-based company will use the funding to invest in and partner with entrepreneurs and founders to build next-generation companies.

As disruptive technologies prompt enterprises to rethink business models, Recognize announced that it will work with technology services firms to translate their innovations into business value.

Recognize reports it aims to be a first-of-its-kind platform. It hopes to inspire technology entrepreneurs and founders with unconventional ideas with strategic capital, operational expertise, and industry insights. The aim is for those business owners using the platform to gain access to talent networks, corporate relationships, intellectual property, and strategies to help them scale and operate more efficiently.

Recognize has already made investments in three technology-services companies with over 4,000 employees across the companies.

The firm’s founders include industry veterans with diverse backgrounds and extensive experience. They include FrankD’Souza (co-founder & former CEO of tech services firm Cognizant); Raj Mehta, former president of Cognizant); Charles Phillips (former chairman and CEO of enterprise SaaS company Infor and former president of software company Oracle), and David Wasserman, a former partner at private equity firm Clayton, Dubilier & Rice.

“The speed of technological innovation is changing entire industries, and it is imperative for businesses and governments to keep pace,” stated co-founder FrankD’Souza. “The technology services market is 3.5x larger than the software industry, yet the sector has only attracted one-third of the amount of private equity capital, underscoring the opportunity for focused investors with a deep knowledge of the industry.”

Co-founder Charles Phillips added, “Software and technology services have always been closely linked and the next-generation of hybrid services companies will apply more proprietary technology to their service delivery in order to create repeatable business outcomes. “In addition, we see a tremendous opportunity to use our platform to create technology jobs in historically underrepresented communities.”

See more details on the firm here.