Technology due diligence of Tech-DD is an increasingly important aspect of private equity investment process, largely driven by the growing role technology plays in PE-backed assets. To help our customers navigate this space, we have put together the below analysis of top PE Tech-DD providers, primarily focusing on the independent and boutique firms that specialise in this area.
Note: This list is targeting UK and EMEA-based providers primarily, however will apply to the US as well
Crosslake Technologies (crosslaketech.com)
Crosslake is a global advisory firm that specializes in technology due diligence for private equity investors and their portfolio companies. They provide expertise across the investment lifecycle, including pre-acquisition due diligence, interim leadership roles, integration and separation of platforms, and exit preparation. Their proprietary platform delivers objective insights based on data from over 4,000 prior technology M&A transactions, enabling informed investment decisions and strategic value creation initiatives.
Code & Co (codeandco.com)
Code & Co. offers comprehensive Tech & Product Due Diligence services for global private equity and investment funds. They focus on evaluating technology and product risks and opportunities to support informed investment decisions. With over 375 deals valued at more than $50 billion, their expertise spans various sectors including HealthTech, cybersecurity, and Industry 4.0. They provide insights throughout the investment lifecycle, from platform inception to exit readiness. Trusted by top investment firms, Code & Co. delivers clear, actionable analyses tailored to investors' needs.
Diligize (diligize.pe)
Diligize offers specialized technology advisory services for private equity firms and their portfolio companies throughout the investment cycle. Their services include advanced tech due diligence, technology valuation, digital transformation, cybersecurity assessments, and regulatory compliance. They provide expertise in optimizing technology operating models, managing software development projects, and preparing for exits. With a network of over 800 subject matter experts, Diligize ensures comprehensive evaluation and strategic support to enhance value and mitigate risks.
Seedcloud (seedcloud.com)
Seedcloud provides technology advisory services focused on bridging the gap between business strategy and technical architecture. They offer expertise in technical due diligence, product strategy, architecture transformation, cloud readiness, and cybersecurity. Their approach includes process and practice reviews, team development, and data architecture. Seedcloud helps organizations navigate the complexities of the evolving tech landscape, ensuring alignment with business goals and operational objectives.
Palladium Digital (palladiumdigital.co.uk)
Palladium is a digital and technology due diligence advisory firm that supports private equity investors and their portfolio companies across the entire investment lifecycle. They provide expertise in assessing digital capabilities, identifying opportunities and risks during due diligence, and driving value creation through digital transformation initiatives post-acquisition.
JMAN Group (jmangroup.com)
JMAN Group is an internationally-focused data consultancy, established in 2010, with offices in New York, London, and Chennai. They specialize in translating data into valuable insights and outcomes for private equity firms and their portfolio companies. Their services encompass the full investment timeline, offering solutions such as core reporting, value creation, due diligence, and exit preparation.
OMMAX (ommax-digital.com)
OMMAX is a digital strategy consultancy that specializes in value creation for forward-thinking companies, large enterprises, and investment firms worldwide. Founded in 2011, the company offers a range of services including digital transaction advisory, digital strategy development, AI and technology implementation, and hands-on support for digital transformation. OMMAX employs a data-driven approach to ensure measurable, lasting results, helping clients optimize their digital presence, enhance operational excellence, and achieve commercial growth.
All three (Bain, BCG and Mckinsey) have a sizeable presence in private equity due diligence market focussing on CDD work. As a cross-sell, they will frequently expand into tech due diligence offerings as well, however it is not their core product offering.
Bain & Co has the largest overall market share in CDD work globally, driven by their strong PEG capability.
BCG arguably has the most robust digital presence, given their historic investment into digital, data science and AI (e.g., BCG GAMA).
Similarly to MBB, the big 4 accountancies all have a certain level of Tech-DD capabilities in-house that are bolstered by a very large IT consulting and IT audit services lines. Despite that the consistency and depth of those offerings will vary significantly by the office and geography of each client.
EY-P has a dedicated Software Strategy group, which specialises on Tech Due Diligence and general Software-focussed DD work
ListAlpha is a private equity CRM platform that allows you to track your most important due diligence adviser relationships. To learn more about these features - please see our Relationship Management functionality page.
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