NASHVILLE, Tenn.--(BUSINESS WIRE)--BluWave, the Business Builders’ Network that connects the private equity industry with best-in-class talent, industry consultants and service providers, is setting its sights on continued growth in 2024, following a year of innovative new initiatives and increased demand for specialized value creation resources. Among its 2023 accomplishments, BluWave introduced next-generation AI-powered technology, supported community and industry development and fueled value creation and job development.
“In 2023, BluWave invested in our people and prioritized advanced technologies to further optimize our solution and enhance our domain expertise. To deliver the best resources possible, we are staying multiple steps ahead of market needs by continuously developing our comprehensive offering,” said Sean Mooney, founder and CEO of BluWave. “As our demand for best-in-class business resources continues to rapidly grow, we’re strengthening our commitment to delivering innovative connective offerings across the private equity industry and beyond.”
In support of perpetually improving its resource matching capabilities for private equity’s exact needs, BluWave deployed multiple AI-powered platforms in 2023:
- DORE-E 2.0, a second-generation multi-modal AI recommendation engine that has helped BluWave enhance project efficacy by 19 percent year-over-year and reduce the time needed for fully scoped and vetted, multivariable matches to less than one business day.
- CRUSH, an internal LLM-based tool incorporating BluWave’s proprietary data and deploying it across the company to optimize internal processes, such as generating code and evaluating and supporting projects.
- BluWave Alpha Center, a platform utilized by private equity firms and service providers within BluWave’s network to connect faster, equip insights, enhance communication and drive better results.
In addition to its ongoing deployment of cutting edge technologies, BluWave launched its Impact Program, which connects its network of business consultants with charitable organizations, at no charge. The inaugural program matched the Second Harvest Food Bank of Middle Tennessee with a leading global strategy and market research consultancy, to enable Second Harvest’s realignment of its resources in line with population trends and update pantry items to maximize participation from its at-risk communities.
BluWave also revealed its second annual Top PE Innovator Awards, which highlight the top 2 percent of North American firms that practice exemplary due diligence, value creation, corporate citizenship and modern PE firm operations. The award recipients were selected based upon a rigorous assessment in consultation with leading limited partners, investment bankers, service providers and other thought leaders in the private equity ecosystem.
Hundreds of private equity firms and thousands of portfolio companies trust BluWave to match them with top, PE-grade service providers for due diligence, value creation and prep for sale initiatives. Of the projects BluWave connected in 2023, more than 70 percent were focused on value creation, reflecting private equity’s strong focus on supporting the stability, growth and success of their portfolio companies during fluid economic times. As a result, private equity has been a strong job creator, illustrated by BluWave’s study of the 2023 Inc. 5000. The report reveals that PE-backed businesses accounted for 11 percent of the list, and these businesses were responsible for 64 percent of the jobs added by Inc. 5000 awardees over the past three years.
To support its rapidly growing client base, BluWave has also significantly invested in its own human capital, increasing its team’s headcount by 42 percent in 2023.
Additionally, BluWave is wrapping up its fourth year of sharing actionable information gleaned from its support of thousands of projects with the best business builders and service providers in the world via its Private Equity Insights Report series. In its Q4 2023 report, scheduled to be released in January 2024, BluWave will reveal the top trends enacted by the private equity industry in 2023, why these activities were undertaken and make valuable predictions about what will unfold in 2024. A copy of this report can be requested here.
About BluWave
BluWave is the Business Builders’ Network for private equity grade service provider needs. The company’s platform combines technology, data and AI with concierge-like consultative support to expertly connect businesses with proven providers across due diligence, value creation and prep for sale. The BluWave Vetted™ network is an invite-only ecosystem of top-tier service-providing groups and individuals. Based in Nashville, Tenn., BluWave ranks as one of America’s fastest-growing companies and today serves hundreds of leading private equity firms and thousands of portfolio companies.
Visit BluWave.net to learn more.
