In April 2023, Maven completed a profitable exit from hedgehog lab following the sale to BGF. The business is a technology company focused purely on app development, working with premium brands including Thales, The Financial Times, Channel 4, Mitsubishi and Microsoft HoloLens. The business develops a wide variety of apps used across a variety of devices and platforms, including smartphones, tablets, desktops and wearables.
Founded in 2007 by CEO Sarat Pediredla and Mark Forster, who between them have nearly 40 years’ experience as software developers, hedgehog lab’s revenues have grown significantly in recent years and the company now employs 120 people. The business is headquartered in Newcastle, and has five other offices across the world including the US, India and Denmark.
Michael and Maven backed us when we were a small regional business with global ambitions. With their support, we were able to rapidly scale internationally, invest in our US business and weather the storm of Covid to become an international business. We did this whilst quadrupling revenues and building a world-class management team. On a personal level, this time has helped hone my capabilities as a CEO and has been one of the best stages of my professional growth. I am delighted that we can provide an exit and repay Michael's trust in me all those years ago.
Sarat Pediredla, CEO at hedgehog lab
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