Dean Forbes: From Homeless Teen to Successful CEO
At just 16, Dean Forbes found himself “broke and homeless,” but over a decade later, he reflects, “we were selling the software company I worked for to Oracle, transforming my life and my family’s financial situation in ways we never dreamed possible.”
Now at 45, Forbes serves as the CEO of Forterro, a private equity-funded firm specializing in software solutions for industrial manufacturers. Throughout his career, Forbes has been instrumental in leading technology firms that have collectively been sold for upwards of €2 billion (£1.67 billion).
The remarkable arc of Forbes’s professional journey is particularly striking given that he had no prior exposure to the tech industry during his formative years. As a teenager, he faced homelessness due to his mother’s dire economic circumstances. To increase the chances of finding housing for his two younger siblings, the family had to separate, prompting Forbes to navigate a challenging new reality. Initially, his aspirations were focused on becoming a professional football player while training with Crystal Palace.
However, by 17, he was informed that a career in football was not in the cards for him—a pivotal moment he describes as “the best thing that could have happened.” His agent helped him secure a telesales position with Motorola, marking the start of a successful venture into sales. Eventually, he joined Primavera, a US software company backed by private equity, as a sales representative. At Primavera, he played a key role in establishing and managing their London office. Nine years later, when Oracle acquired the company for $550 million (£420 million), Forbes had risen to become an equity holder and board member, with the international operations nearly matching the size of its US counterparts.
The success of Primavera’s sale propelled Forbes into high demand, leading him to become the CEO of KDS, a venture capital-supported travel management software firm in Paris, at the age of 29. KDS was later acquired by American Express, and Forbes subsequently took the helm at CoreHR, an Irish software firm, which was sold to Access Group in 2020.
When Forbes joined Forterro in early 2021, a firm previously owned by Battery Ventures before being sold to Partners Group for €1 billion in 2022, he aimed to boost sales to €4 billion through what he terms “investment pit-stops.” He will oversee efforts to attract new investors by 2026.
Speaking at this year’s UK Black Business Show, he expressed his commitment to sharing his journey with black entrepreneurs and professionals who may relate to his background. He noted that scaling a business and taking risks can be significantly more challenging for those lacking access to a network of experienced mentors. In response, he founded the Forbes Family Group (FFG), a non-profit organization dedicated to supporting individuals from underrepresented communities throughout their careers—from helping school leavers find work experience to offering mentorship to executives aiming to elevate their careers.
Forbes shared that during his career, he often found himself at a disadvantage compared to peers in terms of networking. “The majority of my circle was not as robust as that of my colleagues and sometimes competitors,” he noted. “Your chances of success diminish when you can’t easily reach out to someone for support or advice on a deal you’re struggling with.” He aims to create a supportive network where individuals can share experiences and learning from shared backgrounds.
While Forbes acknowledges that he has predominantly received support from leaders who are white, he notes he has only encountered one incident directly tied to race, when a senior executive refused to attend a meeting in his presence, despite him being the senior executive in charge. He reflected on the incident, stating it occurred when he was younger and wishes he had handled it differently, asserting he would have taken his team away from the meeting now.
Dean Forbes is scheduled to speak at the UK Black Business Show on October 19, participating in a panel discussion hosted by The Times Enterprise Network.