Board Intelligence, a UK-based board technology and advisory firm co-founded by Jennifer Sundberg and Pippa Begg, has raised a majority investment from software-focused investor K1. The funding will be put towards international expansion with plans for further add-on acquisitions, and allow the company to expand its AI offering. All of Board Intelligence’s employees hold equity in the business.

The company’s 3,000 client organizations include Generali, National Grid and Zurich Insurance Group alongside major public sector organizations.

Established in 2010 by founders Jennifer Sundberg and Pippa Begg, Board Intelligence provides software and services that drive better board decision making. The company’s AI-powered report-writing platform helps management teams to prepare shorter, sharper reports for their board.

Co-Founder and co-CEO Jennifer Sundberg commented: “Our mission is to transform the effectiveness of every board in the world.  K1’s vision for the future of Board Intelligence and their proven expertise in building category leaders will be instrumental in expanding our growth and the value we deliver to our clients.”

Co-founder Pippa Begg added:  “While we have always been a profitable business and did not need capital, we partnered with K1 for their operational expertise in accelerating investments in AI and scaling companies globally through organic and inorganic growth. K1 has a history of building category leaders and we’re excited to leverage their experience to strengthen our position globally.”

K1 will assume the position of the only institutional shareholder in Board Intelligence with both Jennifer Sundberg and Pippa Begg continuing as minority shareholders. Financial terms of the transaction were not disclosed.