Summit Partners ~ History of Growth

Since our founding in 1984, Summit Partners has raised more than $11 billion in capital, and has invested in more than 300 profitable, rapidly growing businesses across North America, Europe, and Asia. These companies have completed nearly 125 successful public offerings and in excess of 115 strategic sales or mergers.

In this timeline, we present Summit Partners’ growth since 1984, made possible by the growth of our portfolio companies.

How to use this timeline: Click anywhere to close this screen

Click on the dates to see representative investments and some of Summit’s key events.

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Move your mouse over the points on the graph to view our fundraising milestones.

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Summit Timeline
  • 1984

    1984 Milestones

    • Roe Stamps and Steve Woodsum form Summit Partners, and Greg Avis joins shortly thereafter. Their guiding philosophy: Find great management teams and help them grow their businesses into extraordinary companies.

      1984---vm
    • Summit makes its first investment in VM Software, a developer of system software products for the IBM VM mainframe operating system market. The company has a successful IPO in 1985.
  • 1985

    1985 Milestone

    • Summit invests in Faraday Electronics, a developer of IBM PC BUS compatible single board computers and accessories. The company is acquired by Western Digital Corporation in 1987.
  • 1986

    1986 Milestone

    1986EBP
    • Summit invests in Employee Benefit Plans Inc., a provider of health and accident insurance services to self-funded entities. The company goes public in 1989.
  • 1987

    1987 Milestone

    1987DigitalLink
    • Summit invests in Digital Link Corporation, a provider of voice and data communications products used to support T-1 transmissions. The company goes public in 1994.
  • 1988

    1988 Milestone

    1988PlatinumSoftware
    • Summit invests in Platinum Software Corporation, a provider of accounting software products for client/server environments. The company goes public in 1992.
  • 1989

    1989 Milestone

    1989SoftwareSpectrum
    • Summit invests in Software Spectrum Corporation, a provider of PC-based software products to large corporate and government end-users. The company goes public in 1991, and is acquired by Level 3 Communications in 2002.
  • 1990

    1990 Milestone

    1990---Lincare---Jim-Kelly Jim Kelly,
    Founding CEO,
    Lincare Holdings, Inc.
    • With financing from Summit, Union Carbide spins off Lincare Holdings Inc., a provider of home medical care. Under the leadership of CEO Jim Kelly, the company grows 32% over the next two years and goes public in 1992, raising $50 million in a difficult market.
  • 1991

    1991 Milestone

    1991---McAfee---Bill-Larson Bill Larson,
    Former Chairman and CEO,
    McAfee, Inc.
    • With Summit’s financing and strategic guidance, McAfee Inc. expands its antivirus software product line into a broad network security product suite geared for network administrators within large corporate and government entities. The company goes public in 1992.
  • 1992

    1992 Milestone

    1992---Pediatrix---Roger-Medel Roger Medel, MD,
    CEO,
    Pediatrix Medical Group, Inc.
    • Summit helps Pediatrix Medical Group Inc. grow from four U.S. states and Puerto Rico to more than 30 states and become the leading provider of maternal-fetal, newborn, and pediatric physician services in the United States. The company goes public in 1995.
  • 1993

    1993 Milestones

    • Summit opens Palo Alto, California office.
    • Summit makes 100th portfolio company investment.

      1993---IntelliQuest
    • Summit invests in IntelliQuest Information Group Inc., a provider of quantitative marketing research to high-tech companies. The company goes public in 1996.
  • 1994

    1994 Milestone

    1994---DiamondMultimedia
    • Summit invests in Diamond Multimedia Systems Inc., a provider of board-level peripheral products for IBM-compatible PCs. After going public in 1995, the company merges with SONICblue in 1999.
  • 1995

    1995 Milestone

    1995---SuburbanOstomy
    • Summit invests in Suburban Ostomy Supply Company Inc., a distributor of disposable home healthcare products, primarily ostomy, urological, diabetic, and wound-care items. The company goes public in 1996 and later becomes a subsidiary of Invacare Corporation.
  • 1996

    1996 Milestone

    1996---Splash-Technology---Kevin-Macgillivray Kevin Macgillivray,
    Former CEO,
    Splash Technology Holdings, Inc.
    • Summit’s financing and support enables Splash Technology Holdings Inc. to spin off from Radius in 1996. The company goes public later that year, and is acquired by Electronics for Imaging in 2000.
  • 1997

    1997 Milestone

    1997---E-TEK---Michael-Fitzpatrick Michael Fitzpatrick,
    Former Chairman, President, and CEO,
    E-TEK Dynamics, Inc.
    • Summit’s recapitalization of E-TEK Dynamics Inc. gives cofounders J.J. and Theresa Pan an experienced partner to help grow their business. Under the leadership of new CEO Michael Fitzpatrick, E-TEK grows from $70 million to nearly $500 million in revenue. The company goes public in 1998, and is then acquired by JDS Uniphase Corporation in 2000 for $18.4 billion, which at the time represents the second-largest technology merger in history.
  • 1998

    1998 Milestones

    • Summit surpasses 50 employees.
      1998---DornTechnology
    • Summit invests in Dorn Technology Group Inc., a provider of software solutions for the insurance industry. The company becomes a division of Policy Management Systems Corporation in 1999.
  • 1999

    1999 Milestones

    • Summit makes its 200th portfolio company investment.
    1999---Keystone-RV---Cole-Davis Cole Davis,
    Founder and CEO,
    Keystone RV Company
    • Summit’s recapitalization of Keystone RV Company places equity in the hands of the company’s management team. Keystone’s revenues grow rapidly from $70 million in 1998 to $400 million in 2001. Keystone is acquired by Thor Industries in 2001, and today remains the largest manufacturer of recreational vehicles in the United States.
  • 2000

    2000 Milestone

    2000---Hittite-Logo
    • Summit invests in Hittite Microwave Corporation, a designer, developer, and manufacturer of high-performance integrated circuits for wireless and wireline communications systems. The company goes public in 2005.
  • 2001

    2001 Milestones

    • Summit opens its London office.
    • Summit completes its management succession led by Bruce Evans, Walter Kortschak, Marty Mannion, Tom Roberts, and Joe Trustey.
    2001---Sybari-Software---Robert-Wallace Robert Wallace,
    Cofounder,
    Sybari Software, Inc.
    • Summit’s support of Sybari Software Inc.’s growth strategy helps maximize the value of the anti-virus software provider to shareholders and potential acquirers. After pursuing an IPO, Sybari is acquired by Microsoft Corporation in 2005.
  • 2002

    2002 Milestones

    • Summit surpasses 100 employees.
    2002---FleetCor-Technologies---Ron-Clarke Ron Clarke,
    CEO,
    FleetCor Technologies, Inc.
    • Summit’s investment in FleetCor Technologies Inc. helps the company evolve from a one-product provider of fleet cards to offering multiple services to business fleets and petroleum retailers. As a result of new product initiatives, national and international acquisitions, and expanded salesforce coverage, FleetCor has quadrupled its revenues since 2002.
  • 2003

    2003 Milestone

    2003---Jamba---Marc-Samwer Marc Samwer,
    Cofounder,
    Jamba! AG
    • Summit invests in Jamba! AG, a content provider to the mobile phone industry. After growing its subscriber base to several million customers across Europe, Jamba! and Summit run a dual-track process that culminates in a merger with VeriSign Inc. in one of the largest technology transactions in Europe in 2004.
  • 2004

    2004 Milestone

    2004---optionsXpress---Ned-Bennett-David-Kalt-Jim-Gray Ned Bennett, David Kalt, and Jim Gray,
    Cofounders,
    optionsXpress Holdings, Inc
    • Summit invests in optionsXpress Holdings Inc., an online brokerage for stock and equity options investors. Summit helps the company manage its explosive growth and adds the infrastructure and management talent necessary for a successful public offering in 2005.
  • 2005

    2005 Milestone

    2005---SafeBoot---Gerhard-Watzinger Gerhard Watzinger,
    Former CEO,
    SafeBoot Holdings BV
    • Summit’s financing helps SafeBoot Holdings BV accelerate its growth in the encryption software market, upgrade its systems and reporting to public company levels, and recruit an independent board member. After achieving 20 consecutive quarters of growth and profitability, SafeBoot is acquired by McAfee Inc. in 2007.
  • 2006

    2006 Milestones

    2006---Aurora-Diagnostics---Jim-New Jim New,
    Founder, Chairman, and CEO,
    Aurora Diagnostics, LLC
    • Summit’s investment in Aurora Diagnostics LLC gives two-time entrepreneur Jim New the capital required to build a second laboratory diagnostics company. The company embarks on a strategic acquisition campaign, partnering with 13 high-quality labs as of year-end 2008 and extending its presence across the United States.
  • 2007

    2007 Milestone

    • Summit surpasses 150 employees.
    2007---Vente-Privee.com--Jacques-Antoine-Granjon Jacques-Antoine Granjon,
    Cofounder, President, and CEO,
    Vente-Privee.com
    • Summit’s investment helps Vente-Privee.com accelerate its growth, bringing Internet-based, members-only sales of high-end fashions to new European markets. Vente-Privee.com continues to be the industry leader across Europe, attracting one million visitors a day who buy 40,000 items daily.
  • 2008

    2008 Milestones

    • Summit makes its 300th portfolio company investment.

      2008---logo_FlowTraders
    • Summit invests in Flow Traders BV, a leading electronic market making business focused on high-growth asset classes. The company trades equities as well as derivatives, currencies, and bonds in the main European markets.
  • 2009

    2009 Milestones

    • Summit Partners celebrates its 25th anniversary.
      • 2009-heald

    • Summit’s investment in Heald College helps the regionally accredited private career college develop new degree programs, open new campus locations and introduce an online delivery model.
  • 2010

    2010 Milestone

    summit25
    • Summit Partners passes its 25-year milestone. Since 1984, Summit has invested in more than 300 growing companies, which have completed nearly 125 public offerings and in excess of 110 strategic sales. The firm’s capital base exceeds $11.0 billion.