Pamlico Capital, a private equity firm headquartered in Charlotte, N.C., has bought InRule Technology, an intelligence automation company, from OpenGate Capital.

Based in Chicago, Ill., InRule provides machine learning and process automation software to IT and business management teams, looking to help them make decisions faster, operationalize machine learning and improve processes. The original investment from OpenGate in 2019 marked InRule’s first institutional capital raise and allowed InRule to expand its geographic footprint and further its capabilities.

“Building on the momentum we have established in recent years, I am excited to begin working with Pamlico Capital as we continue to build out our capabilities and further our growth story,” says Rik Chomko, InRule’s co-founder and CEO.

Raymond James served as financial advisor and Massumi + Consoli LLP served as legal counsel to OpenGate Capital.