Accelo, a Denver-based leader in cloud-based Professional Services Automation (PSA), announced on July 22, 2025, the acquisition of Forecast, a UK-based provider of AI-powered project and resource management software. The merger, supported by Bow River Capital and Level Equity, strengthens Accelo’s position in the $2.07 trillion professional services market, enhancing its capabilities in predictive planning, resource optimization, and intelligent automation. The combined entity, headquartered in Denver with offices in Wollongong, Australia, and the UK, serves over 1,200 global clients across consulting, IT, and marketing sectors.
Accelo acquired Forecast on July 22, 2025, expanding AI-driven PSA capabilities.
Enhances project profitability, resource optimization, and workflow automation.
Backed by Bow River Capital and Level Equity, with $23.7M raised in 2024.
Forecast’s AI platform boosts utilization rates to 75% vs. industry average of 40%.
Combined entity targets consulting, IT, and marketing firms globally.
Recognized in Gartner’s 2024 PSA Market Guide and 41 industry awards.
The acquisition integrates Forecast’s AI-native platform with Accelo’s comprehensive PSA suite, creating a robust solution for professional services firms. “We’re extremely enthusiastic about Forecast’s people, products, and most importantly, their customers; this compelling merger of strengths combines Forecast’s AI-powered insights with Accelo’s unified Professional Services Automation platform,” said Karen Sawyer, CEO of Accelo. “We are building a smarter, more agile solution that provides global enterprise clients the critical insights and comprehensive controls required for high-quality, profitable project delivery.” The combined platform unifies quote-to-cash workflows, leveraging AI to enhance project profitability and resource allocation.
Forecast, founded by Dennis Kayser, delivers AI-driven project management, achieving client utilization rates above 75% compared to the industry’s 40% average. “From inception, we envisioned building a market-leading, native AI-enabled PSA system to support the world’s best run consultancies regardless of size and unique business model requirements,” said Kayser. The platform automates task management, timesheets, and resource scheduling, reducing administrative time and flagging budget risks. Forecast’s integrations with Jira, Salesforce, and HubSpot enhance its interoperability, aligning with Accelo’s existing integrations with Google Workspace, Microsoft 365, and QuickBooks.
Accelo, with a 2024 revenue of $25 million and 83.5% year-over-year enterprise sales growth, serves industries like consulting, accounting, and IT services. The acquisition follows Bow River Capital’s 2024 majority investment and a $23.7 million raise, fueling Accelo’s M&A strategy. “We’re thrilled to announce the acquisition of Forecast; this strategic combination and incremental growth capital creates a much larger cohort of high-quality, enterprise clients across Europe, North America, and Asia-Pac,” said Maitlan Cramer of Bow River Capital. Charles Chen of Level Equity added, “We have strong conviction in the Professional Services Automation industry, and are thrilled with the value creation progress since the recapitalization with our partners at Bow River Capital.”
The $2.07 trillion professional services market is projected to grow by 2028, driven by AI and digital transformation. Accelo’s acquisition aligns with this trend, competing with platforms like Scoro and Kantata by offering advanced AI capabilities. Forecast’s AI reduces administrative overhead by 30% and boosts billable hours, per client reports. The combined platform’s tentative scheduling and role-based staffing innovations address the 40% of firms struggling with resource allocation, per industry data. With 41 Gartner Digital Markets awards in 2024 and recognition in Gartner’s PSA Market Guide, Accelo is poised to lead the PSA market.
Accelo’s acquisition of Forecast marks a pivotal step in redefining PSA through AI-driven innovation. By integrating Forecast’s predictive capabilities with Accelo’s end-to-end platform, the company empowers professional services firms to optimize profitability, streamline operations, and scale globally, delivering unmatched value in a competitive landscape.
Accelo is a cloud-based Professional Services Automation (PSA) platform that helps professional services-based businesses streamline operations, improve efficiency, and scale profitably. Designed for industries such as consulting, accounting, engineering, architecture, IT services, and marketing agencies, Accelo replaces fragmented tools with a single, integrated system for managing clients, projects, resources, and finances.
By unifying the quote-to-cash lifecycle, Accelo enables businesses to automate workflows, track projects, optimize resource allocation, and gain real-time visibility into operations. With built-in CRM, project tracking, scheduling, invoicing, and analytics, Accelo empowers professional services firms to improve productivity, enhance team collaboration, and drive sustainable growth.
The Forecast AI-native platform is a system of intelligence that represents the most advanced technology ever applied to managing finances, resources and projects. Forecast is the ultimate upgrade for any project team and organization.
Our platform automates busywork, surfaces best practices, predicts outcomes, guides projects to success, and most importantly empowers every team member to do their best work. Technology doing what it does best, so humans can do what they do best.
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