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- Climb's M&A Weekly: Salesforce, Vista, and Accel-KKR all feature
Climb's M&A Weekly: Salesforce, Vista, and Accel-KKR all feature
Salesforce acquires Regrello and Vista backs a merger
Climb Advisors Weekly
August 24, 2025
Welcome back to the Climb Advisors weekly newsletter with five deals from across the B2B tech landscape.
Climb Advisors focuses on sell-side advisory for B2B Software and services companies generating $5m-$15m in revenue. We also advise on credit solutions for companies of the same profile & in select cases engage in retained buy-side processes for quality buyers. We love to talk markets and make introductions - please don’t hesitate to reach out if you’re a founder or investor looking to transact.
Edison Partners invests $65 million into KnowledgeLake
Overview: Edison Partners, a growth equity firm, invests $65 million into KnowledgeLake, an AI-powered workflow automation company. The capital will be invested in customer success, partnership expansion, go-to-market strategies, and new AI capabilities. KnowledgeLake, founded over 25 years ago, mainly serves Fortune 500 companies and public sector organizations with tools that automate manual workflows. Read more here.
Climb Comment: The document automation space is seeing renewed interest as companies are forced to improve compliance. KnowledgeLake has been in the document automation market for awhile and it has recently moved towards utilizing more AI workflows, which is what the new competition is doing. Edison Partners brings both capital and operating expertise, which should help KnowledgeLake scale into adjacent segments like intelligent document processing and advanced analytics.
Incode, backed by General Atlantic, AuthenticID, an AI-powered identity verification platform
Overview: Incode, an identity verification platform backed by General Atlantic, purchases AuthenticID, an AI-powered identity verification company. The combined entity creates one of the largest independent digital identity platforms in North America. The new company will serve financial institutions, government agencies, and enterprises. Together, the companies aim to fight rising fraud and streamline onboarding experiences. Read more here.
Climb Comment: There has been a lot of M&A activity across the digital identity verification space. Demand has been quickly rising and it doesn’t look like it’s stopping anytime soon with the market projected to hit $116 billion by 2027. Incode is strong in AI-driven onboarding, while AuthenticID has developed advanced fraud detection tools. The partnership creates scale advantages in a highly fragmented market. It also allows the company to compete with larger players in the space like Okta and TransUnion.
Residex.AI, backed by Accel-KKR, acquires Kevala
Overview: Residex.AI, a provider of Electronic Health Record (EHR) and Electronic Medication Administration Record (eMAR) for senior communities, acquires Kevala, an AI-powered workforce management platform. Adding Kevala’s staffing optimization solutions positions Residex.AI well in the senior care technology market. Residex.AI will add those staffing solutions to its suite of solutions including, clinical assessment, incident management, and more. Read more here.
Climb Comment: As the population ages and baby boomers reach their later years, medical technology solutions are seeing increased demand. Residecx will integrate Kevala’s AI solution, Quin, that specializes in workforce optimization and predictive scheduling into its care suite. This acquisition by Residex comes about 8 months after they received a majority investment from Accel-KKR. With Accel-KKR’s backing and one acquisition under their belt, expect to see more M&A activity from Residex in the near future.
Salesforce acquires Regrello, an AI-powered operating system for supply chains
Overview: Salesforce acquires Regrello, an AI solution that navigates complex business problems. Regrello’s solutions take business data and turn it into agentic solutions. Salesforce believes businesses need more agile solutions and aims to connect the disconnected tools in a business’s back office. This acquisition aligns with Salesforce’s pursuit of agentic process automation. Read more here.
Climb Comment: Salesforce has been very active in acquiring companies that fit into its agentic AI automation platform. Salesforce’s agentic platform is called Agentforce, and Salesforce has said they will begin immediately integrating Regrello into the Agentforce platform. Salesforce leadership also mentioned they plan on integrating Regrello’s offerings into Slack to help customers move from inefficient, manual actions towards automations.
TigerConnect, backed by Vista Equity Partners, acquires eVideon
Overview: TigerConnect, a healthcare communication platform backed by Vista Equity Partners, buys eVideon, a provider of patient engagement and smart room technology software. eVideon provides interactive patient engagement and experience solutions. They do this with bedside systems, TV, and digital signage. The acquisition will allow TigerConnect to extend its communication platform into the patient-facing side of care. Read more here.
Climb Comment: Healthcare IT continues to see consolidation as providers seek integrated communication and engagement platforms. TigerConnect already serves over 7,000 healthcare organizations with secure clinical messaging, and eVideon adds patient engagement solutions that TigerConnect didn’t previously have. With Vista’s backing, TigerConnect can now offer hospitals a unified solution spanning provider communication, workflow optimization, and patient experience. Given the shift toward value-based care, these integrated platforms are becoming increasingly attractive to health systems.
Article of the week
Article this week is from the Phronesis Fund substack. Which if you don’t currently follow, I’d highly recommend. He doesn’t really post stock pitches like most substacks, he looks at the psychology behind investing and life providing some thought provoking reads.
Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale this year - we’re always glad to chat & share perspective.
All the best,
Nick