Dovel said Monday it will use the investment to expand its federal market presence across artificial intelligence, analytics, grants administration, scientific research and development and biomedical informatics areas.
“This new partnership enables us to aggressively pursue our long-term growth strategy for the business, explore market expansion through potential acquisitions, and have additional resources available to create new, differentiated solutions, services, and capabilities,” said Dovel CEO Paul Leslie.
Dovel Technologies support federal agency clients through the integration of technologies and deep domain expertise in health IT, grants management and life sciences markets. The company posted over $200M in annual revenues in 2018.
Macquarie Capital is Macquarie Group’s principal investment, advisory and capital markets arm.