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News
June 2023
Foresight exits WeTrack Software to Momentus Technologies
Foresight is pleased to announce the successful exit of WeTrack Software Limited, realising a 2.8x return.
London, 31 May 2023: Foresight Group (“Foresight”) has successfully exited WeTrack Software Limited (“WeTrack” or “the Company”), realising a 2.8x return.
WeTrack offers easy-to-use collaborative management software for the sports and events industry, helping to manage successful projects, deliver events and improve organisation efficiency. The Company was born out of the founders' experiences at the London 2012 Olympic Games Organising Committee.
Foresight’s Thames Ventures funds, which were previously managed by Downing LLP (“Downing”), first invested in WeTrack in 2015. During the investment period, the Company grew its team from 2 to 17 and developed its service range by offering four new modules. WeTrack’s exit was to Momentus Technologies, a global leader in venue and event management software headquartered in the US.
This is the fourth exit, in the last nine months, from Foresight’s Thames Ventures funds, all four of which have attracted US based acquirers.
Foresight’s ventures team partners, supports and works with growth companies to realise their growth potential. The team works from offices across the UK and Ireland and has representatives based in the US, UAE and Israel.
Peter Ward, Founder/CEO of WeTrack, said: “The Foresight and Downing teams were our first investors and I will always be grateful for the vote of confidence they provided in the early days. We’re delighted with this outcome which is testament to the hard work of the entire team.”
Richard Lewis, Managing Director of Foresight’s Thames Ventures funds, added: “WeTrack offers a leading project management and incident tracking software with a sustainability focus which perfectly complements Momentus Technologies’ platform. This sale provides another attractive return for our investors. We wish the team all the best for the future.”
