• The investment underscores Exponent’s long-standing commitment to partnering with market-leading, founder-owned businesses
• Driving UK tech sector excellence in public, private and third sector organisations
• This is Exponent’s fourth platform investment in twelve months

4 March 2025, LONDON – Exponent, a leading European private equity firm, today announces that it has reached an agreement to invest in Hippo Digital ("Hippo" or “the Company”), a Leeds-based digital transformation provider of User-Centric Design (“UCD”) solutions to the UK public sector. Exponent will support the existing management team, led by co-founder and Chief Executive 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.

Co-founded in 2016 by Adam Lewis and Rob Coop, Hippo was established to provide design solutions to the NHS and wider UK public sector. The co-founders had previously spent a number of years working for the NHS where they used UCD to lead the design and implementation of its employee digital identity service. As such, Hippo’s initial focus was on the delivery of Product Management and UCD to the NHS and broader UK public sector IT. Over time, the company has expanded its capabilities, both through organic growth and strategic acquisitions, positioning itself as a leader in Digital Transformation, UCD, Digital Identity, and Data Services.

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. With its deep expertise and extensive network, Hippo is well-positioned to continue to support these and other organisations that will benefit from the government's ongoing efforts to digitise public services.

Hippo's primary focus is on the public sector, but its expertise is also increasingly being leveraged in the private and quasi-private sectors, which represent large and growing revenue opportunities. Notable private sector clients include Virgin and Engie, along with a growing roster of customers in banking, education, travel, and leisure.

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.”

Barbara Rauber, Director at Exponent, said: “We are delighted to invest in Hippo and our investment demonstrates our commitment to partner with market leading businesses seeking to scale and accelerate their growth. We are attracted to the Digital Transformation space, given its long-term growth outlook and opportunities for smaller and agile players to have a material impact. Adam has built a great business with a strong culture. We are excited for the company’s next phase as we invest in people and the business’ capabilities.”

Adam Lewis, Founder of Hippo Digital, 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.”

This is the firm’s fourth platform investment in twelve months, following investments in Chanelle Pharma, Ireland’s largest manufacturer of generic pharmaceuticals; Ethos Engineering, Dublin based leader in sustainable data centre design services delivered across EMEA; and Kingsbridge Healthcare Group, a leading private healthcare provider in Northern Ireland and the Republic of Ireland. The investment in Hippo is a further demonstration of Exponent’s expertise in investing in and growing market leading, founder-led businesses to unlock their potential.

The proposed transaction is subject to customary regulatory approvals and is expected to complete by early April.