Hippo Digital to secure European investment

Digital transformation provider Hippo Digital is set to secure investment from European private equity firm Exponent.

Co-founded in 2016 by Adam Lewis and Rob Coop, Leeds-based Hippo provides design solutions to the NHS and wider UK public sector. The co-founders had previously spent several years working for the NHS where they used UCD to lead the design and implementation of its employee digital identity service.

Hippo’s key clients include NHS England and BSA, the BBC, and various central government departments, including the Department for Education and the Ministry of Justice.

Hippo currently has around 500 staff across six UK offices. In 2023, Hippo acquired Leeds-based The Data Shed.

Exponent will support the existing management team, led by co-founder and chief xecutive Adam Lewis, to continue to scale the company’s operations and strengthen its engineering, data and artificial intelligence capabilities. Paul Nannetti is joining the business as chair.

Lewis said: “Hippo has reached a pivotal moment in its growth journey, making this the perfect time to bring on a new strategic partner to support the next phase.

“Exponent’s investment provides the backing we need to continue to build our capabilities and scale the business as one of the UK’s leading independent digital services consultancies. Together, we have an exciting opportunity to design exceptional services built around real human needs. I’m excited to see what we can achieve together.”

Mark Taylor, partner at Exponent, said: “We are excited to be supporting a business that will play a critical role in unlocking the government’s strategy of digitising public services.

“Hippo has established itself as a leading and trusted digital transformation provider and exemplifies the best of UK tech innovation, with an outstanding reputation in its core public sector market. We see a tremendous opportunity for the business to meet a wider range of customer needs and we look forward to working closely with the team in the years ahead.”

Hippo was advised by several Yorkshire-based advisors, with KPMG providing lead advisory support, Squire Patton Boggs advising on legal, Park Place advising Management, and Grant Thornton assisting with financial and tax due diligence support.