All case studies A growth-oriented private equity firm
The deal needed a number nobody could produce.
A software target with mixed licensing and wide adoption, where licensed accounts and actual usage didn't line up. Verified paying-user counts, committee-ready in 10 days.
The investment committee set the timeline.
Valuation confidence, revenue durability, and the thesis all hung on one answer.
During diligence on a software product monetized through mixed subscription and perpetual licenses, the firm hit material uncertainty. Licensed accounts couldn’t be reconciled with actual usage, so the true size of the active, paying user base was unknown. The target held extensive licensing and usage data, but fragmented and unstructured for analysis — under a compressed timeline tied to the investment committee and a potential close.
- The trigger
- An investment-committee deadline, with material uncertainty in the target’s paying user base.
- The core problem
- Licensed accounts couldn't be reconciled with observed usage, so the customer count couldn't be established.
- What the firm needed
- A decision-grade number, delivered inside the diligence window.
The engagement
Licensing, usage, and telemetry — reconciled at deal speed.
Allveri ingested licensing, authentication, and application-ping data into a governed analysis environment at deal speed.
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01
The build
- Identity-resolution logic reconciled licensed accounts against observed usage, separating paying from non-paying users by entitlement and behavior. Abnormal patterns were flagged — including single credentials used across far more IP addresses than a licensed account would explain.
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02
What came back
- The analysis timeline was set by the deal, not the data. The firm went to committee with clear paying-versus-non-paying counts.
The outcome
A clearer picture, in time to use it.
The firm went to committee with clear paying-versus-non-paying counts.
- Reconciled
- Licensed accounts matched against active usage — paying and non-paying separated
- Separated
- Licensed accounts matched to actual usage
- In window
- Decision-ready analysis inside the diligence timeline — committee-ready in 10 days
- Committee-ready
- One governed number carried into the investment decision