Relias Revenue & Valuation (2021)

OrbiMed

OrbiMed is a global investment firm that invests in companies engaged in the discovery and development of biopharmaceutical products, medical technologies, medical devices, diagnostics, drug discovery tools, and healthcare information technology and services companies.

AIgnostics

Aignostics is an AI-powered precision diagnostics company that focuses on pathology to assist with drug development and clinical research. It specializes in transforming drug development and improving patient outcomes with AI that delivers novel insights for precision medicine.

Altergon Italia

Altergon Italia is a Centre of Excellence and Innovation for the production of Medicated Plaster and biotech Ultra Pure Hyaluronic Acid. They specialize in transdermal applications and industrial biotechnologies for the pharmaceutical industry.

Shop Circle

Shop Circle is a UK-based AI-native software holding company that acquires and scales mission-critical B2B software businesses across e-commerce, manufacturing, and supply chain verticals. The company is co-founded and led by Luca Cartechini, a former equity research analyst at Jefferies and VC investor who was named to Forbes 30 Under 30 Europe in 2022. Founded in 2021 with an initial $1.5 million angel round, Shop Circle has since raised more than $100 million in equity across five rounds and paired that with a roughly $100 million debt facility, bringing total capital raised to more than $200 million. The company finished 2025 at $30 million ARR and has grown to approximately $45 million ARR as of May 2026, targeting $60 to $70 million ARR by year-end, which would represent roughly 100 percent year-over-year growth. EBITDA margins run at approximately 35 percent, with some PLG-oriented products generating 60 to 70 percent profitability. The most strategically distinctive element of Shop Circle's model is its centralized AI team, called CircleX, which deploys automation, developer productivity tools, and agentic product features across every portfolio company after acquisition. One portfolio company, Aiden, nearly doubled both its team and its revenue to approximately $3 million ARR within one year of acquisition while growing at 70 to 80 percent year-over-year, illustrating the operational uplift Shop Circle applies post-close.

ABBYY

ABBYY helps enterprises gain a complete understanding of their business processes to accelerate digital transformation.

Amperity

Amperity is the customer data platform that helps brands build the unified first-party customer data foundation they need to grow revenue, reduce costs, save time, and stay compliant. Our unparalleled solution creates accurate, reliable profiles by stitching together every type of rich customer data across disparate sources using patented AI and Machine Learning methods. Teams including Marketing, IT, and Analytics can easily use these profiles to drive business value – boosting acquisition and retention, discovering historical and predictive insights, creating high-value segments, fueling tools that deliver personalized customer experiences, meeting privacy and compliance standards, and adapting to future evolutions of the tech stack. Amperity’s unique combination of complete profiles, streamlined access, advanced insights, and surprising speed creates the customer data confidence brands need to power meaningful experiences and accelerate growth. More than 400 brands worldwide rely on Amperity to turn data into business value, including Alaska Airlines, DICK’S Sporting Goods, Endeavour Drinks, Planet Fitness, Seattle Sounders FC, Under Armour and Wyndham Hotels & Resorts.