Iplicit appoints industry leaders to advisory board

iplicit has announced the addition of two prominent figures from the European software industry to its advisory board.

Named as the newest investors and advisors for iplicit are Øystein Moan and Nic Humphries, who bring with them extensive experience from Visma and Hg, respectively. These appointments come as iplicit continues to aim for significant growth, targeting an ARR of GBP £100m within the next six years.

Øystein Moan, formerly CEO and now Executive Chairman of Visma, will join iplicit as a Non-Executive Director. Moan's track record includes growing Visma's revenues from 50 million euros to more than 2.5 billion euros, and profits to over 500 million euros, making Visma the largest SMB cloud software business in Europe. His leadership was integral during the $12.2 billion buyout of Visma in 2020, the largest software buyout to date globally.

Joining Moan is Nic Humphries, Senior Partner and Executive Chairman of Hg, who will act as a Strategic Advisor. Humphries, who has led Hg's investment strategy in software and technology, was key in establishing Hg as the leading software investor in Europe. He joined the company in 2001 and served as CEO from 2007 to 2017.

Lyndon Stickley, CEO of iplicit, stated: "iplicit now has the all-star team it needs for its next phase of hypergrowth. These investors and advisors are adding even more momentum to our ascent towards becoming the dominant accounting software provider for the UK midmarket. We're set up for another phenomenal year of growth in 2025 and we fully anticipate we will continue to acquire more UK customers than every other midmarket cloud accounting provider in our field."

The appointments of Moan and Humphries follow recent leadership additions to iplicit's C-suite, with Damon Anderson joining as Chief Marketing Officer, Paul Sparkes as Chief Product Officer, and Scott Regnier as Chief Sales Officer.

iplicit was founded in 2019 with a mission to assist organisations transitioning from legacy, on-premises finance software systems to cloud solutions. The company is focused on serving businesses that require more than what entry-level systems offer but wish to avoid the disruption associated with larger products.

Having been named 18th in the UK companies list of Europe's fastest-growing businesses in the FT1000, iplicit also secured a top 10 spot in the Sunday Times Best Places to Work and ranked 40th in the Deloitte UK Technology Fast 50 list in November.

iplicit remains confident in its trajectory and aims to continue onboarding more new customers than any other cloud accounting providers in the UK midmarket, including competitors like Sage, as they move into 2025.