What Romulus does

Andromeda Software Inc., doing business as Andromeda, is a US-incorporated holding company and acquirer of vertical market software (VMS) businesses, operating as one of the operating groups within Constellation Software (TSX:CSU). The company acquires VMS companies with the intent of permanent ownership rather than short-term exits, positioning itself as a "permanent home" for founders and operators who want continuity, autonomy, and long-horizon capital. Its stated portfolio spans at least 30 companies across banking software (including the Perseus operating team) and financial planning (including a UK business led by Adrian Malin), supported by 22+ offices, 2500+ employees across the network, and 100+ shared industry-leading tools and best practices.

The business model is a buy-and-hold acquisition platform: Andromeda identifies, acquires, and operates VMS companies, retaining operational autonomy at the portfolio-company level while providing shared leadership development, operational best practices, capital allocation, and peer collaboration across the Constellation ecosystem. Revenue is generated through the consolidated recurring-revenue streams of acquired software businesses (subscription-based), not through Andromeda-level fees. The go-to-market is relationship-driven direct outreach to founders and operators, supplemented by content channels including a website (csiandromeda.com), the "Acquired & Operating" podcast, a blog, and an email newsletter.

No proprietary technology platform or product modules are disclosed; Andromeda's offering is fundamentally the holding-co infrastructure — capital, operating playbook, leadership development, and peer network — rather than a directly sold software product. The company is privately held, headquartered in the US (Maryland 410 area code), and does not disclose standalone revenue, headcount, or founding date in the available material.

Name

Romulus

Legal name

Andromeda Software Inc.

Website

https://csiromulus.com

Company type

Private

Operating status

Operating

Headcount range

101–250 employees

Short description

Andromeda is a US-incorporated holding company that acquires and permanently owns vertical market software businesses as part of Constellation Software, serving founders and operators seeking long-term ownership across banking software and financial planning verticals.

Ownership category

akta.pro rank

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Software Portfolio Operations: Andromeda generates revenue by acquiring and operating vertical market software companies as a permanent holding company. The revenue model is based on operating acquired companies long-term, benefiting from their collective scale, shared best practices, and operational synergies across the Constellation Software ecosystem.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Romulus (operating as Andromeda) acquires vertical market software companies and holds them permanently, providing operational support, capital allocation, leadership development, and access to shared best practices from the Constellation Software ecosystem. The company targets founders and operators who want a permanent home rather than a short-term exit, and its portfolio currently spans 30+ companies across banking software, financial planning, and other vertical markets.

Product overview

Andromeda acquires and supports vertical market software companies for long-term ownership, providing a permanent home where people and products can thrive. As part of Constellation Software, the company operates a network of acquired businesses across banking software and financial planning sectors, with a Perseus team providing operational support to portfolio companies. No specific named product modules or distinct software offerings are enumerated in the source material.

Differentiator

Problem solved

Functional benefit

Products and services

• Permanent Acquisition and Holding Service for Vertical Market Software Companies End-to-end acquisition and long-term holding service for founders and operators of vertical market software businesses. Includes capital allocation, leadership development, operational best-practice sharing, and integration into the Constellation Software ecosystem while preserving company autonomy.

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Thoma Bravo: Large private-equity firm specializing in software take-privates and platform acquisitions. Competes with Andromeda for VMS founders but operates a financial-sponsor model with defined exits rather than permanent ownership.
• Constellation Software: Andromeda's publicly-traded parent (TSX:CSU) and the largest VMS roll-up acquirer globally. Operates the broader Andromeda, Jonas, Harris, Vela, Volaris, and Topicus operating groups; sets Andromeda's capital, governance, and acquisition philosophy.
• Accel-KKR: Private-equity firm focused on middle-market software and tech-enabled services. Regularly competes with Andromeda and CSI for VMS founder-led transactions and operates with a tighter value-creation playbook than Andromeda.
• Vista Equity Partners: Large private-equity firm focused exclusively on enterprise software. Frequently competes with Andromeda and CSI for VMS targets; uses a more centralized operating-partner model than Andromeda's autonomy-first approach.
• Roper Technologies: Large publicly-traded diversified software and engineered-products roll-up (NYSE:ROP). Compares to Andromeda as a long-term-holder of niche, high-margin software businesses, though with a more centralized operating model and a longer hold history.
• Hg Capital: European private-equity firm focused on software and tech-enabled services. Active acquirer of VMS assets in Europe and a direct competitor to Andromeda for founder-led vertical-market software companies.

Direct peers

• Volaris Group: Sibling CSI operating group focused on acquiring and permanently holding smaller vertical-market software businesses. Identical parent, identical long-term ownership thesis, making it one of the closest direct comparables to Andromeda.
• Harris Computer: Sibling CSI operating group running the same vertical-market-software acquisition and permanent-hold model, focused on public-sector, utilities, and education verticals. Directly comparable in operating model, parent backing, and founder-friendly positioning.
• Vela Software: Sibling CSI operating group pursuing identical VMS roll-up and long-term-ownership strategy. Closest direct peer to Andromeda in terms of mission, capital sourcing (CSI), and acquisition criteria.
• Jonas Software: Sibling CSI operating group that acquires and operates vertical-market software companies for the long term. Uses the same 'permanent home' acquisition philosophy as Andromeda, with similar portfolio scale and autonomy-preserving integration model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/romulus-a-perseus-portfolio-group-constellation-software

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Romulus