News from Summit and Our Portfolio

Funding to Accelerate Digital Transformation in Anatomical Pathology
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LONDON, BOSTON and STRASBOURG, FRANCE – Summit Partners today announced a growth investment in Dreampath Diagnostics, a leading healthcare technology company focused on digitizing workflows in anatomical pathology laboratories. The investment will support the company’s plans to accelerate global growth, scale operations and expand its commercial reach and product portfolio.

Founded in 2012, Dreampath offers a patented suite of traceability solutions and consumables designed to automate and digitally transform the archiving and retrieval of tissue samples in pathology labs. Today, the company manages more than 250 million samples across over 500 labs in nearly 40 countries, serving a broad range of healthcare organizations, from hospitals and research institutions to commercial laboratories and cancer centers.

“Pathology labs are a critical part of the global healthcare ecosystem, yet many still rely on manual, error-prone processes for sample archiving and retrieval,” said Pablo Jordan, CEO and co-founder of Dreampath Diagnostics. “Our mission is to improve the efficiency and accuracy of these workflows through automation and digital traceability, allowing labs to provide patients with faster and safer diagnostics. We’re proud to partner with Summit to help us scale our impact and reach more patients around the world.”

Dreampath’s integrated platform is protected by more than 80 patents worldwide and is designed to automate, simplify and streamline lab workflows to help eliminate the risk of patient sample loss. The company’s technology is tailored to specific stages of the pathology process and works with Dreampath’s proprietary software and consumables. This closed-loop system helps labs archive and retrieve tissue samples with speed and precision, with a focus on improving sample traceability while reducing manual errors, retrieval times and operational burden. Customers using the system have reported meaningful positive results, noting an 83% reduction in time spent archiving tissue samples.  

Dreampath has grown profitably and rapidly at a CAGR of more than 50% in recent years, driven by strong demand for its platform across the U.S., EMEA and other global markets. Dreampath’s customers include many of the world’s foremost cancer centers, as well as some of the largest and most sophisticated commercial laboratories in operation today.

“Pathology labs are navigating growing volumes, staffing shortages and increasing demands for precision, all while working with systems that haven’t meaningfully evolved in decades,” said Thomas Tarnowski, Managing Director at Summit Partners. “Dreampath’s platform is designed to address a key bottleneck in the pathology workflow. By enabling fast and traceable access to tissue samples, the company is supporting more consistent lab operations and helping improve the quality of patient care.  We believe Dreampath is well-positioned to lead the modernization of pathology infrastructure on a global scale.”

“We were drawn to Dreampath because of their clear leadership in a fast-growing and increasingly essential segment of lab diagnostics,” added Jono Pagden, Principal at Summit Partners. “In our view, the company’s first-mover advantage, consistent focus on quality and strong customer adoption have helped Dreampath establish a strong reputation as a trusted provider in digital archiving. We’re proud to be their first institutional partner and excited to support the team in scaling their impact globally.”

Both Thomas Tarnowski and Jono Pagden have joined the Dreampath Board of Directors.

Dreampath is headquartered in Strasbourg, France with a U.S. commercial office in New York.

Financial terms of the transaction were not disclosed.

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About Dreampath Diagnostics
Dreampath Diagnostics is a global leader of digital sample management systems for anatomical pathology laboratories. The company’s patented solutions combine purpose-built scanners, software and consumables to enable automated and error-free archiving and rapid retrieval of tissue samples, helping labs accelerate diagnostics, improve accuracy, and compliance. Dreampath’s systems are used in leading labs and institutions across nearly 40 countries. For more information, please visit www.dreampathdx.net or follow on LinkedIn.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Notable investments in healthcare and life sciences include Advance Medical, CluePoints, Healthline Media, LifeStance Health, VaxCare and Viroclinics. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

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London, United Kingdom – Quorso Global Inc. (“Quorso”), a leader in intelligent operations software for multi-store retailers, today announced a minority growth equity investment from Summit Partners. The funding will support Quorso’s continued international expansion, product innovation and operational scaling.

Quorso’s pioneering Intelligent Management platform helps multi-store retailers improve performance by transforming complex operational data into smart daily actions for frontline managers and store teams. By connecting disparate systems and analyzing real-time data — including sales, inventory, and labor metrics — Quorso’s platform is designed to identify key opportunities and guide teams through high-impact “missions” that drive measurable results. The platform integrates into daily workflows, supporting ongoing improvement and greater alignment across every level of store operations.

Quorso currently powers operations across leading global retailers, including Dollar General, Circle K, Walmart Mexico and Tractor Supply Company. Customers using Quorso have reported tangible ROI achieved through increased sales, time savings and system consolidation.

“In today’s complex retail environment, store teams are under more pressure than ever to deliver results, yet they’re often overwhelmed with data from disconnected systems and thousands of weekly data points across multiple apps,” said Julian Mills, Co-founder and CEO of Quorso. “At Quorso, we’re helping solve that problem by making it easier for managers and frontline workers to take smart, targeted actions that truly drive store performance. We’re thrilled to partner with Summit, whose deep experience in retail technology will be invaluable as we scale our platform, expand globally and deliver on our ambitious vision to augment operations in retail and other sectors.”

Summit’s investment comes amid profitable, triple digit growth for Quorso, fueled by several landmark customer wins and increasing market adoption. Building on its strong U.S. footprint, Quorso plans to use this funding to accelerate expansion across U.S., UK and European markets, continue to grow its high caliber team and enhance product capabilities in AI, automated smart workflows, and deepened experiences for every level of operations.

“Quorso is working to reshape how retailers manage daily store operations, with an intelligent platform designed to turn fragmented, noisy data into clear, high-impact actions for store and field teams,” said Steffan Peyer, a Managing Director at Summit Partners, who is joining the Quorso Board of Directors. “At Summit, we’ve spent decades partnering with companies driving innovation across the retail value chain, and we’ve seen firsthand how increasing operational demands have made effective in-store execution more challenging than ever.  We believe Quorso stands out as a powerful solution purpose-built for the realities of modern retail — one that resonates strongly with customers and delivers clear ROI. We’re excited to support Julian and the Quorso team as they scale their impact globally.”

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About Quorso
Quorso’s Intelligent Management Platform for Retail Leaders transforms overwhelming store data into personalized, high-impact actions for every Store and Field Leader, every day. Intelligent workflows assist them in taking effective actions, measuring impact, and automatically surfacing crowdsourced business insights to central teams. Quorso aligns every level of store operations in a single tool and creates a truly connected enterprise. World-leading retailers trust Quorso to drive strategic KPIs, improve productivity, and simplify operations across hundreds of use cases. For more information, please visit www.quorso.com or follow on Linkedin.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Notable retail technology companies backed by Summit include RELEX Solutions, OneStock, Akeneo and Mi9 Retail. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

Summit’s Sophia Popova was named to GrowthCap's list of “Top Women Leaders in Growth Investing of 2025.” This award, as determined by GrowthCap, recognizes individuals for sustained excellence in their areas of expertise and for earning the enduring respect of their peers and stakeholders.

Sophia Popova is a Partner on our Technology Team. Over the course of her tenure, Sophia has partnered with leading growth companies and talented executives across several technology subsectors including cybersecurity, marketing technology and HR software. She has played an active role in nine Summit investments, representing more than $1.99 billion in invested capital. Her board and investment experience includes Manychat, StackAdapt, Later, Invicti Security, Ylopo, Klaviyo (NYSE: KVYO), Sifted and Vensure Employer Services (formerly PrismHR).

Read more about Sophia and her fellow honorees at GrowthCap.

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^{Award selections were determined by GrowthCap’s based on its evaluation of each nominee’s demonstrated track record of sustained excellence in the nominee’s area of expertise. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direct communication with portfolio company executives and/or others in the industry.}

^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners.  GrowthCap’s Top Women Leaders in Growth Investing of 2025 List was based on information provided by Summit Partners with respect to Sophia Popova’s contributions since she joined Summit Partners through May 2025. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

Unilever today announced it has signed an agreement to acquire personal care brand Dr. Squatch from growth equity firm Summit Partners. This complementary acquisition marks another step in expanding Unilever’s portfolio towards premium and high growth spaces.

Dr. Squatch grooming products – including shampoo, conditioner, deodorant, and soaps – arranged on logs and grass in a natural outdoor setting with trees, mountains, and a blue sky in the background.

Dr. Squatch has reached millions of people through its retail and direct-to-consumer model with natural, high-performance personal care products including natural soaps and body washes, deodorants, hair care, skin care, and other men’s grooming products with unique scents and quality ingredients.

The built-in-culture brand has grown to become a highly engaging men’s personal care brand. Its viral social-first marketing strategies, partnerships with influencers and celebrities, and culturally-relevant collaborations with limited-edition packs have helped to drive sales and grow a loyal consumer following on social media platforms and beyond.

Fabian Garcia, President of Unilever Personal Care said: “I am thrilled to welcome Dr. Squatch into the Unilever family. Dr. Squatch has built a solid foundation and loyal following with highly desirable products and clever digital engagement strategies. Building on its success in the US, we are excited to scale the brand internationally and complement our offering in the fast-growing men’s personal care segment.”

Josh Friedman, CEO of Dr. Squatch said: “I am incredibly proud of what the Dr. Squatch team has achieved thus far. Our mission at Dr. Squatch is to inspire and educate men to be happier and healthier, and we’re excited about our ability to amplify our brand and mission in this next chapter with Unilever. We’re just getting started at Dr. Squatch, and we are thrilled about the opportunity to advance the brand’s scale, reach new heights internationally, and entertain and positively connect with more consumers seeking high-quality, natural products around the world.”

Dr. Squatch is distributed through digital commerce, retail and direct-to-consumer channels, primarily in North America and Europe. The terms of the deal were not disclosed.

The transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.

About Dr. Squatch
‍Dr. Squatch, a natural men’s soap and personal care company and one of the fastest-growing personal care companies in the USA. Dr. Squatch’s hero products include natural cold process bar soap, body wash, deodorant, hair care, lip balm, and cologne. Dr. Squatch’s mission is to inspire and educate men to be happier and healthier with natural, high-performance products that are crafted in the USA. Feel Like a Man, Smell Like a Champion! For more information, please see www.drsquatch.com.

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Source: Unilever. View full press release here.

Newport Beach, CA  – RIS Rx, a healthcare technology company pioneering solutions to reduce revenue leakage in pharmaceutical gross-to-net spread, today announced a significant growth investment from Summit Partners. This partnership will support RIS Rx’s continued innovation and growth in service of the company’s commitment to improving patient access to treatment, one prescription at a time.

Founded in 2020 by pharmacists Gerard Rivera and Stephen Hom, RIS Rx was born out of their firsthand experience seeing the challenges and inefficiencies in administering patient affordability programs. The company’s technology-enabled solutions help pharmaceutical manufacturers’ patient assistance programs reach their intended recipients to support access and affordability. Leveraging the company’s proprietary technology and real-time analytics engine, the RIS Rx platform is designed to identify and mitigate “gross-to-net” (GTN) revenue leakage, estimated at $90 billion annually in the U.S., stemming from misdirected affordability programs.

“Every year, drug manufacturers spend billions on patient affordability programs, yet up to 20% of that support never reaches the patients it’s intended to help,” said Gerard Rivera, CEO and co-founder of RIS Rx. “We built RIS Rx to fix this broken system, applying automation, data and clinical expertise to stop GTN revenue leakage in real-time. Summit’s investment and strategic partnership will help us deepen our product capabilities, scale our team and expand our impact across the industry.”

RIS Rx’s platform includes targeted solutions designed to address key vulnerabilities in affordability program operations with accuracy and speed. The company’s flagship offerings include:

• Benefit Patient Solution (BPS) – Real-time identification of and response to copay diversion programs.  
• Affordability, Audit & Assurance (Triple A) – Detects and intervenes in pharmacy-level fraud and claims discrepancies through data-driven alerts and direct engagement with pharmacy providers.
• Patient Guard 360 (PG360) – Monitors charitable patient assistance programs for ineligible enrollees and redirects patients to appropriate support channels.

With strong and accelerating momentum, RIS Rx has become a trusted partner to many of the industry’s leading pharmaceutical manufacturers. The company maintains a near-perfect Net Promoter Score, underscoring its commitment to delivering measurable value and a consistently high-quality customer experience. Today, RIS Rx serves 160+ drug brands across 23 manufacturers and has generated significant annualized savings for customers.

“We believe RIS Rx is setting a new standard in the pharma services space—combining advanced technology, real-time data and deep industry expertise to address one of the industry's most critical financial and operational challenges,” said Darren Black, Managing Director at Summit Partners. “With rising pressure on pricing transparency, cost containment and patient access, the need for solutions like RIS Rx to help address GTN revenue leakage has never been more urgent. We’re thrilled to support Gerard and his team in their mission to make drug affordability programs more accountable and effective.”

Building on its track record of profitable growth and strong customer adoption, RIS Rx will use the investment to accelerate product development, grow its team and enhance client services.

Latham & Watkins LLP and DLA Piper LLP (US) served as legal counsel and Morgan Stanley & Co. LLC served as financial advisor to RIS Rx. Jamieson Corporate Finance served as financial advisor to the RIS Rx management team. Kirkland & Ellis LLP served as legal counsel and BofA Securities, Inc., served as financial advisor to Summit Partners.

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About RIS Rx
RIS Rx is a healthcare technology company transforming pharmaceutical manufacturers' management of gross-to-net leakage. Through proprietary software and pharmacist-led expertise, RIS Rx empowers clients to optimize operations, eliminate leakage and ensure that financial assistance reaches the patients who need it most. Founded in 2020 and headquartered in Newport Beach, California, RIS Rx serves leading pharma manufacturers across a growing portfolio of drug brands. Learn more at www.risrx.com.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

DUBLIN – Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has signed a definitive agreement to acquire ELATEC, including Elatec GmbH and other group entities, ("ELATEC") from Summit Partners for €330 million on a cash-free, debt-free basis. Allegion expects to fund the acquisition through a combination of cash on hand and borrowings under its existing revolving credit facility.

ELATEC is a leading manufacturer of security and access technology, specializing in RFID credentials and readers solutions designed in Germany and sold globally. ELATEC’s extensive portfolio of readers leverages their internally developed software stack and ensures compatibility with nearly 100 credential types, making the company a leader in interoperability, which aligns well with Allegion’s partner of choice strategy.

Read the complete press release here.

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Existing investor Summit Partners remains MUBI’s largest shareholder, supporting the company’s continued growth as a global leader in prestige cinema

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MUBI, a global streaming service, production company and film distributor focused on independent and prestige cinema, has secured a $100 million growth investment led by Sequoia Capital, as reported in the Financial Times. Summit Partners initially invested in MUBI in 2021 and remains the company’s largest institutional shareholder.

Founded in 2007 by CEO Efe Cakarel, MUBI has grown from a boutique streaming platform into a global media company with a fully integrated ecosystem that spans streaming, theatrical distribution and original content production. Since Summit’s 2021 investment, the company has expanded its global footprint to more than 190 countries and increased its subscriber base more than fivefold, all while delivering consistent growth.

>> Read more about Summit’s partnership with MUBI.

“Summit has been an invaluable partner to me — offering not just strategic insight and operational guidance but also the trust and conviction that I hoped for as a founder,” said Efe Cakarel, Founder and CEO of MUBI. “Their support has been instrumental as we’ve scaled our technology, expanded our content pipeline and attracted key executive talent. With Summit by our side, we’ve built MUBI into a global destination for prestige cinema.”

MUBI’s recent slate of films has garnered widespread critical acclaim, with multiple titles premiering at top global festivals and earning nominations at the Academy Awards, BAFTAs and Cannes Film Festival. Proceeds from the new round will be used to accelerate investment in content acquisition, original productions, global brand-building and M&A.

“MUBI is one of the few media companies we’ve seen that combines strong creative vision with the economics of a high-growth tech platform,” said Han Sikkens, Managing Director and Head of Europe at Summit Partners and a member of the MUBI Board of Directors. “Since our initial investment, the company has scaled significantly while maintaining discipline, profitability and global cultural relevance. Efe and the team continue to build something truly differentiated — and we’re proud to remain their long-term partner.”

Read more in the Financial Times and explore our partnership with MUBI.

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^{Certain statements about Summit Partners made by Efe Cakarel herein are intended to illustrate Summit Partners’ business relationship with MUBI and Mr. Cakarel, including with respect to Summit Partners’ role as a business partner, rather than reflect Summit Partners’ capabilities or expertise with respect to investment advisory services.  Mr. Cakarel was not compensated in connection with his participation or statements; however, he has received and continues to receive compensation and investment opportunities in connection with his role at MUBI. He is also the owner of portfolio company securities and/or investor in Summit Partners’ sponsored vehicles. Such compensation and investments subject Mr. Cakarel to potential conflicts of interest in making the statements herein.‍}

Summit Managing Directors Darren Black and Ross Stern were named to GrowthCap's list of The Top Healthcare Investors of 2025. Awardees were selected based on their sector expertise, leadership and ability to navigate the ever-evolving healthcare landscape.

Darren Black is a Managing Director on Summit’s Healthcare & Life Sciences team. Since joining the firm in 2013, Darren has led 21 investments in high-growth companies across healthcare services, physician-led practice management, value-based care managed care, pharmaceutical outsourcing and technology-enabled healthcare solutions. His current board directorships include Earned Wealth, Leon Medical Centers, LifeStance Health (NASDAQ: LFST), Paradigm, Sound Physicians, TurningPoint Healthcare Solutions, US Health Partners, U.S. Renal Care, VaxCare and Veranex. His previous board and investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), ABILITY Network (acquired by Inovalon), Advance Health (acquired by New Mountain Capital), DMG Practice Management Solutions (acquired by Ares Management), HealthSun (acquired by Elevance), InnovaCare Health (acquired by Elevance) and PharmScript (acquired by OptumRx).

Ross Stern is a Managing Director on Summit’s Healthcare & Life Sciences team. Since joining the firm in 2009, Ross has led or played a key role in 14 investments in high-growth companies across provider-led practice management, value-based care and technology-driven healthcare services. His investment and board experience includes Abode Healthcare (acquired by BrightSpring Health Services), Duly Health and Care (acquired by Ares Management), Fortis Life Sciences, Hallmark Health Care Solutions, LucyRx, My Dentist (acquired by Heartland Dental), Paradigm, PharmScript (acquired by UnitedHealth Group), Sound Physicians, Thrive Skilled Pediatric Care, TurningPoint Healthcare Solutions, U.S. Renal Care and VaxCare.

Read more about Darren, Ross and their fellow honorees at GrowthCap.

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^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s sector expertise, leadership and ability to navigate the ever-evolving healthcare landscape. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direct communication with portfolio company executives and/or others in the industry.}

^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap's website.}

^{This award was issued by GrowthCap on April 30, 2025.  This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

Oakland, CA – April 23, 2025 – Instrumentl, a leading intelligent full-lifecycle grant solution for nonprofits and universities, today announced a $55 million growth investment from Summit Partners. This funding enables Instrumentl to rapidly develop its platform’s AI capabilities, scale U.S. customer acquisition and empower grant seekers to diversify and strengthen their funding strategies amid federal grant funding repeals.

This year, federal funding for nonprofits has undergone an unprecedented level of scrutiny. Forced to adapt, nonprofits and universities are actively diversifying their grant portfolios. Yet, the status quo for finding and managing grants is highly fragmented, manual, and time-consuming. To enable nonprofits to adapt more quickly, Instrumentl created the first full-lifecycle intelligent platform offering tools to find grants, write applications, manage work, and report on results. Instrumentl’s AI-enabled technology is designed to eliminate the need for a different tool for each stage, delivering an end-to-end grant platform.

As a result, Instrumentl’s 4,500+ customers report:

• Winning an average of $1.1 million more in grants per year
• Reducing grant prospecting time by three-quarters
• Replacing two separate tools on average with Instrumentl, simplifying their work
• Applying for twice as many grant applications with the same team size
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"Grant funding, whether federal funding or private, has been as turbulent as the stock market, creating a high level of uncertainty for nonprofits," said Gauri Manglik, Instrumentl co-founder and CEO. "We founded Instrumentl to help nonprofits and universities unlock new funding and maximize their impact. Now more than ever, our customers seek greater efficiency and accountability. Our goal is to help restore certainty and enable them to achieve their ambitious visions."

Instrumentl co-founder Angela Braren added, “Summit Partners brings deep expertise in scaling mission-driven software businesses, and with their support and this fresh capital, we will accelerate our innovation, expand our team, and further our mission of supporting grant seekers with a modern and purpose-built platform.”

Since its founding in 2015, Instrumentl has seen rapid adoption. Thousands of organizations have used Instrumentl’s platform to discover relevant grant opportunities, manage awards, and collaborate more effectively with their teams. By integrating AI and automation into the grant process, Instrumentl has helped customers streamline workflows, reduce administrative burden, and successfully raise more than $1 billion in grant funding.

“Instrumentl is working to transform the grant management landscape, applying a technology-driven approach that helps customers streamline nearly every aspect of the grant management process,” said Daniel Kim, a Principal at Summit Partners who has joined the Instrumentl Board of Directors. “With increasing demand for funding and growing complexity in the grant application process, we see a significant market need for modern, intelligent solutions like Instrumentl. We have been impressed by the company’s strong customer engagement and product-led growth – as well as by the clear impact the Instrumentl platform delivers. We look forward to partnering with the Instrumentl team to support the company’s next phase of growth.”

Choate Hall & Stewart served as legal advisor to Summit Partners. Kaizen Equity served as financial advisor to Instrumentl, with Goodwin Procter serving as the company’s legal advisor.

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About Instrumentl
Founded in 2015 and headquartered in Oakland, CA, Instrumentl provides an end-to-end platform for grant discovery, grant writing, and post-award grant management. Serving over 4,500 customers - including non-profits, non-profit consultants, and universities - Instrumentl has helped its customers win over $1 billion and manage over $6 billion in grants. For more information, please see www.instrumentl.com or follow on LinkedIn.

Explore a career opportunity with Instrumentl by viewing our open job opportunities: https://www.instrumentl.com/careers

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

New funding to fuel the future of AI-driven customer engagement on social and messaging platforms. This round brings Manychat’s total funding to $163.3 million, powering global expansion, R&D, and advanced AI-agent innovation

Palo Alto, CA –  Manychat, a global leader in conversational AI and automation across social and messaging platforms, today announced a $140 million growth capital raise led by Summit Partners. This brings Manychat's total funding to $163.3 million since its founding in 2015, including its first institutional investment of $18 million in 2019 by Bessemer Venture Partners.

Social platforms are the new arena of global commerce, with socially driven commerce projected to surpass $100 billion in the U.S. alone by 2026. Manychat sits at the center of this shift, helping creators and businesses leverage AI and automation to forge stronger and more impactful relationships with their audiences.

Manychat powers billions of messages annually on Instagram, TikTok, WhatsApp, Facebook Messenger, and other platforms, helping more than a million businesses in 170+ countries automate customer interactions, maximize engagement, and unlock monetization potential.
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‍Learn more about Summit’s experience investing in the platforms that power the creator economy.
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‍"Manychat was founded with a mission to help businesses grow by building meaningful customer relationships,” said Mike Yan, co-founder and CEO at Manychat. “We also take pride in our ability to package and simplify new foundational technologies for the benefit of our customers. The more useful and effective our technology becomes, the more our customers can focus on delivering exceptional value in their space. This new funding, along with Summit Partners’ guidance and expertise, will support our continued innovation in the realm of agentic AI and intelligent automation, helping our team and our products deliver true value for businesses and creators around the world."

Manychat, already a profitable company, will use this funding to accelerate its global expansion, invest further in R&D, enhance marketing and customer support capabilities, and advance breakthrough AI-Agent features across new and existing channels. In 2024, the company introduced Manychat AI, which is already used by tens of thousands of creators and businesses to better scale conversations with their customers.

"We believe the rapid growth in social commerce is driving a critical need for brands to invest in strategies and solutions that help build and sustain customer engagement across social and messaging platforms," said Sophia Popova, Partner at Summit Partners who has joined the Manychat Board of Directors. "Manychat's innovative platform is helping to redefine how businesses and creators engage with their audiences and to set new standards in digital communication and marketing. We are excited to partner with the Manychat team to help accelerate their global expansion and further enhance their AI-driven solutions."

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About Manychat
Founded in 2015 by Mike Yan and Antony Gorin, Manychat is a global leader in conversational AI and automation across social and messaging platforms, helping businesses and creators engage their audiences through intelligent, automated conversations. With over a million users in 170 countries, including brands like Nike and the New York Times, Manychat powers billions of conversations optimized for driving engagement, nurturing relationships, and maximizing monetization potential across platforms like Instagram, TikTok, WhatsApp, and Messenger.

Follow Manychat at: manychat.com  |  IG: @manychat

About Summit
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

Stockholm, Sweden – Syncron, a global leader in cloud-based after-sales service solutions, today announced the appointment of Josh Weiss as Chief Executive Officer. Weiss succeeds Fritz Neumeyer, who will transition from his role following a successful tenure marked by significant growth and product innovation.

Josh Weiss brings nearly 20 years of executive leadership experience in growing and managing global technology and manufacturing enterprises. Most recently, Weiss served as President of Hexagon's Manufacturing Intelligence division, managing a €2 billion business with comprehensive profit and loss responsibility. During his tenure at Hexagon, Weiss successfully developed and integrated advanced technologies, drove transformative performance improvements, and scaled complex global operations.

“We are thrilled to welcome Josh Weiss to Syncron and look forward to working with him as the company continues to pursue its ambitious goals,” said Léo Apotheker, Chairman of Syncron’s Board. “Josh's extensive global experience, passion for innovation, and dynamic, customer-focused leadership make him uniquely positioned to guide Syncron through its next exciting chapter of growth. On behalf of the entire Board, I also extend our deepest gratitude to Fritz Neumeyer for his invaluable contributions, dedication, and strategic vision, which have positioned Syncron for sustained success.”

Fritz Neumeyer commented, "Leading Syncron has been an incredible journey. I’m immensely proud of the team's accomplishments and excited for Syncron’s future under Josh’s leadership."

“I’m honored to join Syncron at such a transformative time in the aftermarket service industry,” said Weiss. “I look forward to collaborating closely with our talented team and valued customers to further elevate after-sales service as a strategic growth engine for manufacturers and distributors around the globe.”
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About Syncron
Syncron empowers leading manufacturers and distributors to capitalize on the new service economy by optimizing aftermarket business performance. With a customer base that includes many of the world’s top brands, Syncron’s award-winning solutions deliver exceptional customer value and business growth.

Copenhagen – Simply.TV, a leading video metadata provider, today announced the acquisition of Red Bee Media’s Content Discovery Business, further accelerating Simply.TV’s global expansion and strengthening the company’s position in the U.S. market. In conjunction with this acquisition, Simply.TV has secured a majority growth equity investment from Summit Partners, marking the company’s first institutional funding.

Founded in 2019 by Morten Trolle and Daniel Rühmann, Simply.TV provides metadata solutions designed to help video aggregators, streaming platforms, smart TV and entertainment system manufacturers transform user experiences and connect people with the content they love. Powered by cutting-edge technology, Simply.TV provides high-quality and responsive metadata at scale to help enhance user search, discovery and recommendations.  Today, more than 200 digital customers – including leading brands such as Telenor, TitanOS, A1, Orange and Zapping – power their solutions with Simply.TV data.

The acquisition of Red Bee Media’s Content Discovery Business extends Simply.TV’s presence and capabilities in the U.S. market.  By integrating Red Bee Media’s extensive U.S. data offerings with Simply.TV’s advanced technology, the company is poised to deliver enhanced content discovery solutions to a growing global customer base.

“At Simply.TV, we built an innovative technology platform to set new standards for scalability, flexibility and metadata quality, empowering our customers to create new and engaging user experiences. The market responded, fueling our company’s growth over the past five years,” said Mr. Rühmann. “This acquisition will help extend our impact, accelerating our global expansion, strengthening our position in the U.S., and enabling Simply.TV to deliver even greater value to our customers worldwide.”

“User engagement and experience have become central pillars for content distributors, and the video metadata market is rapidly evolving to meet this need,” noted Chris Bon, a Principal with Summit Partners. Johannes Grefe, a Managing Director with Summit Partners added, “we believe Simply.TV’s technology-first approach is essential to delivering on customer expectations and unlocking new capabilities for their content user interfaces. We are excited to support Simply.TV in this next phase of growth.” Both Mr. Grefe and Mr. Bon have joined the Simply.TV Board of Directors.
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About Simply.TV
Founded in 2019, Simply.TV is a global leader in metadata and content discovery solutions, providing state-of-the-art services to some of the world’s most prominent TV entertainment brands, including Vodafone, Telia, Vestel, and Philips. Simply.TV specializes in aggregating and enriching metadata for EPG (Electronic Program Guides), FAST (Free Ad-Supported Streaming TV), VOD (Video On Demand), and OTT (Over-The-Top) streaming platforms, ensuring viewers can easily discover and access their favorite content across a wide range of services. Simply.TV’s platform leverages cutting-edge AI and machine learning technologies alongside proven editorial workflows to deliver highly accurate, up-to-date, and comprehensive metadata. This not only enhances the user experience but also supports TV operators, broadcasters and streaming services in offering personalized, engaging, and intuitive interfaces to their customers. View more at www.simply.tv or follow on LinkedIn.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

United Kingdom – One Point Advisory Services (“One Point”), a platform providing strategic guidance and support to regional accounting and independent financial adviser (“IFA”) firms across the United Kingdom, today announced a growth investment from Summit Partners. The funding will support One Point’s strategy to partner with or acquire like-minded regional service providers in the accounting and IFA markets, helping those firms maintain their independence while enhancing their capabilities and expanding their reach.  Existing investor Cow Corner will work alongside Summit to provide growth-focused support and insight to One Point’s partner firms.

One Point provides a long term, stable ownership model for operators of regionally focused accounting firms and IFAs, allowing partner firms to grow in their local markets without requiring simultaneous exits or necessitating integration into a national consolidator.

In a market where attracting and retaining top talent is key to long-term growth, One Point aims to support its partner firms’ investments in staff recruitment, professional development, and technology-driven efficiencies. With a commitment to becoming the leading and most trusted accounting and IFA firm for small and medium-sized enterprises (“SMEs”) across the UK, One Point helps its partner firms—known as “Regional Champions”—maintain their independence while providing them with a scalable platform for growth, succession planning, and partner incentivization. This model is designed to strengthen local firms and ensure that SME clients receive long-term, relationship-driven advisory services tailored to their unique needs.

To date, the One Point platform has completed 14 acquisitions and today serves over 25,000 clients and manages over £2 billion of client assets through partner firms such as Galloways, Mitchell Charlesworth, Pierce and Pembroke.

About One Point Advisory Services
One Point Advisory Services supports Regional Champion accountants and IFA’s who want to preserve their independence as leading firms in their local market rather than becoming part of a national firm.

It has invested in and supported Galloways since 2018 and Pembroke since 2019, making it one of the longest standing investors in the accounting and IFA industries. This long-term approach is designed to mirror that of the partners, staff and clients. It takes the benefits of making long term growth decisions while removing the barriers to investment that the LLP partnership model can bring.

About Cow Corner
Cow Corner is an investment business that partners with services and software businesses in the UK. These investments are typically knowledge-based businesses including professional services, IT, software, education and training and specialist business services. The Cow Corner Partners combine years of investment experience with years of operational experience and know-how to help accelerate growth. The investment approach is designed to remove some of the traditional areas of friction and misalignment that has become standard in the industry. For more information, please see: https://www.cow-corner.com/letter-from-the-founders

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

The Hague, The Netherlands – Cenosco B.V. (“Cenosco”), a leading provider of asset integrity management (AIM) software, today announced a growth investment led by Summit Partners, with participation from existing investor Fortino Capital. The partnership will help accelerate Cenosco’s continued product innovation, international expansion and team growth.

Cenosco offers a category-leading suite of software solutions designed to enhance safety, reliability, and operational efficiency for companies operating in asset-heavy industries. The company’s Integrity Management Suite (IMS) provides mission-critical integrity, reliability and process safety solutions to some of the world’s largest oil & gas, chemical and power companies, including Shell, Equinor and PTTGC. Today, Cenosco is used by 11,000+ professionals and deployed at more than 200+ assets across 40+ countries around the world.

“Ageing infrastructure, supply chain shocks and rising environmental regulation, present significant challenges for operators in asset-heavy industries. Having the right technology is critical,” said Rahul Kejriwal, CEO of Cenosco. “At Cenosco, we are committed to providing solutions that empower our customers to make data-driven decisions, improve asset integrity and drive efficiency. We are excited to partner with Summit, together with the ongoing support from Fortino Capital, as we continue to innovate, expand globally, and work to establish Cenosco as the industry standard for asset integrity and reliability.”

Built by engineers for engineers, Cenosco’s IMS suite is backed by 25 years of experience serving asset-heavy industries. It is grounded in risk-based inspection (RBI) methodologies and leverages real-time data and probabilistic modeling to help optimize inspection and maintenance schedules. The platform helps operators gain a holistic view of their assets and understand the most critical components of the overall system, enabling more informed decision-making and proactive maintenance strategies. Customers have reported up to a 20% reduction in inspection costs, a 15% decrease in major planned and unplanned downtime, and significant maintenance cost savings from asset failure prevention.

“With growing global demand for asset efficiency and resilience, fueled in part by new AI use cases, operators are increasingly focused on improving reliability and reducing downtime,” said Han Sikkens, a Managing Director and the Head of Europe at Summit Partners, who will join the Cenosco Board of Directors. “With a global footprint and a record of rapid, profitable growth, we believe Cenosco has built a highly differentiated platform that delivers measurable impact for industrial operators. We look forward to partnering with Rahul Kejriwal and the Cenosco team as they continue to drive innovation and work to scale the business globally.”

“Since our investment in 2020, Cenosco and its management have successfully transformed from a service-oriented business into a highly growing SaaS vendor serving a well-diversified international customer base,” said Toon Smets, Investment Director at Fortino Capital. “We believe the company is perfectly positioned to lead the digital revolution in asset integrity management and, together with Summit Partners, we are pleased to support Cenosco’s next phase of growth.”

About Cenosco
Cenosco is an asset integrity management software company with over 20 years of product leadership in asset-heavy industries. The company’s IMS Suite of solutions was designed to support users in making smart inspection and maintenance decisions to increase safety, maximize asset availability, and optimize asset management costs. IMS has been deployed in more than 200 assets, in over 40 countries. Cenosco envisions a safe, sustainable world, where asset-heavy industries can operate at their full potential, without jeopardizing the health and safety of their people and the environment.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

About Fortino Capital
Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. For more information, please visit www.fortinocapital.com or follow on LinkedIn.

Summit Partners is honored to be recognized on GrowthCap’s list of the Top Growth Equity Firms of 2024. In curating this annual list, GrowthCap considered several hundred growth equity firms, and evaluated finalists on their unique capabilities, sector expertise, investment judgment, demonstrated value creation, senior partner composition, talent retention, firm evolution, and firm momentum, among other attributes.

Summit has partnered with numerous category-defining companies across technology, healthcare, financial services, business services, consumer and other growth sectors. We have built our firm and our team to power the growth of market leaders, and we are grateful for the visionary leaders, dedicated teams, and dynamic companies we have the privilege to support.

To view the full list visit of winners, visit GrowthCap’s website.

Stay up to date with the latest news and insights from Summit Partners.

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^{Awardee selections are based on GrowthCap’s evaluation of each firm’s unique capabilities, sector expertise, investment judgment, demonstrated value creation, senior partner composition, talent retention, firm evolution, and firm momentum, among other attributes. Information on firms was received through GrowthCap’s online submissions portal, nomination forms, direct communications as well as through our additional research. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. The Top Growth Equity Firms of 2024, issued by GrowthCap on February 13, 2025, was based on the time period of January 2024 – December 2024. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

growth equity

StackAdapt, the leading multi-channel programmatic advertising platform, today announced a growth capital raise led by Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, with participation from Intrepid Growth Partners, and four other investors. This latest round follows the $300M USD investment made by Summit Partners in 2022 and brings StackAdapt’s total investment to over $500M USD, underscoring its position as a global leader in advertising and marketing innovation.

Founded in 2014 by Vitaly Pecherskiy, Yang Han, and Ildar Shar, StackAdapt was created to build a new-generation programmatic advertising platform. StackAdapt was built on three core principles: solving customer challenges with purpose-driven solutions, harnessing the power of AI and automation to deliver advanced and powerful software capabilities, and providing a seamless, self-serve user experience with unmatched speed and accessibility. This capital raise marks a pivotal milestone for StackAdapt as it continues to expand its footprint in programmatic advertising technology, while expanding into marketing technology. With headquarters in Toronto, Canada, and a global team of over 1,300, the StackAdapt platform empowers modern marketers across 19 global markets.

"The challenges marketing teams face are vast and evolving rapidly. Much of the pressure to drive growth rests on their shoulders as they work to reinvent operations and discover new ways to reach customers effectively, profitably, and predictably,” said Vitaly Pecherskiy, Co-founder and CEO at StackAdapt. “To help them stay ahead of the curve, we are relentlessly focused on building the most advanced, intelligent, and automated platform to make their success inevitable. We are excited to partner with TVG and the other great investors in this round to drive growth and innovation within StackAdapt, continuing on our mission to transform how marketers use technology to create value within their companies."

“We are proud to support StackAdapt, a leading Canadian technology company, on its trajectory to becoming the global leader in AI-driven, end-to-end advertising,” said Rick Prostko, Senior Managing Director at TVG. “The company has been able to demonstrate consistent growth and profitability while building the future of advertising and marketing technology. We have been impressed by their exceptional team, visionary leadership, and relentless focus on delivering customer value.”

“Intrepid is thrilled to make StackAdapt its first investment. Vitaly, Yang, and their team have built a remarkable company that highlights the tremendous potential of AI,” said Mark Machin, Managing Partner and Founder of Intrepid.

This investment round comes at a point of strategic inflection for StackAdapt as it continues to rapidly scale its research and development, increase innovation capacity, and expand global presence.

J.P. Morgan acted as lead placement agent and RBC Capital Markets acted as co-placement agent to StackAdapt on the raise.

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About StackAdapt
StackAdapt is a multi-channel programmatic advertising platform used by thousands of brands and agencies around the world. StackAdapt’s data-driven platform combines state-of-the-art machine learning with a clean and intuitive user interface to provide marketers with an easy way to plan, execute, and drive the best performance across all devices, inventory, and publishing partners. StackAdapt has been recognized as one of the fastest-growing technology companies in North America, is rated the number 1 demand-side platform (DSP) on G2, and is the highest-performing and easiest-to-use platform. For further information, visit www.stackadapt.com.

About TVG
Teachers’ Venture Growth (TVG) focuses on late-stage venture and growth equity investments in cutting-edge technology companies worldwide. We partner with founders with bold missions, looking to expand their product offering, scale geographically, and become the leaders in their markets. We bring long-term thinking and active investing to help build better businesses and a better world. We think globally and act locally through our direct presence across Asia, North America and Europe.

TVG is part of the Ontario Teachers' Pension Plan Board, a global investor with net assets of CAD 255.8 billion as at June 30, 2024. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 340,000 working members and pensioners.

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Source: StackAdapt

BOSTON, MA; MENLO PARK, CA; NEW YORK, NY; and LONDON, UK – Summit Partners, a leading growth-focused investment firm, today announced the promotion of eight professionals across the firm’s global offices. Nick Oppedisano and Sergio Mur have been promoted to Partner; Adesh Jain, Daniel W. Kim, Kurt Brimberry and Cathy Tanimura have been promoted to Principal; Chandler Scott has been promoted to Vice President; and Ryan Grimshaw has been promoted to Portfolio Manager.

“We are very pleased to recognize the achievements of our colleagues with these well-deserved promotions,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “Each of these professionals represents well the culture and values of our firm. They have served our investors and portfolio companies with distinction, and we look forward to their continued contributions.”

Nick Oppedisano has been promoted to Partner. Nick joined Summit as a Vice President in 2019 and is a member of the Technology team. His investment and board experience includes CoderPad, Foxen, Furnished Finder, Jobber, PriceLabs and Recharge. Prior to Summit, Nick worked on the technology investment banking teams at Goldman Sachs and Centerview Partners. Nick holds degrees in business administration from Ivey Business School and engineering from the University of Western Ontario.

Sergio Mur has been promoted to Partner, Peak Performance Group. Sergio joined Summit as a Vice President in 2016. As a member of the Peak Performance Group, Sergio works with management and investment teams across Summit’s European portfolio to execute growth strategies and recruit high-impact senior executives. Prior to Summit, Sergio worked at Cerberus Capital, Privalia, TJX Companies and J.P. Morgan. He holds a CEMS Master’s in international management from St. Gallen University in Switzerland and a Master’s in business management from ESADE Business School in Spain.

Adesh Jain has been promoted to Principal. Adesh joined Summit as an Associate in 2017 and, following his MBA, rejoined the firm as a Vice President in 2021. He is a member of the Healthcare & Life Sciences team, and his investment experience includes Blended Health, InnovaCare Health and Medical Review Institute of America. Prior to Summit, Adesh worked at MTS Health Partners. Adesh holds a BA from Vanderbilt University and an MBA from the Stanford Graduate School of Business.

Daniel W. Kim has been promoted to Principal. Daniel joined Summit as Vice President in 2023 and is a member of the Technology team. His investment and board experience includes DocuSketch and Netgain. Prior to Summit, Daniel worked at KKR & Co. Previously, he worked at FTV Capital and J.P. Morgan. He holds a BA in statistics and BS in Business Administration from the University of California, Berkeley, where he was a Regents’ and Chancellor’s Scholar.

Kurt Brimberry has been promoted to Principal, Infrastructure Technology. Kurt joined Summit as an Analyst in 2018. As a member of the Peak Performance Group, Kurt collaborates closely with portfolio companies to help expand and achieve greater ROI from digital transformation initiatives. Prior to Summit, Kurt worked for Harvey Performance Company, a former Summit portfolio company, and ByAllAccounts, a financial data consolidation platform. Kurt holds a BA in managerial economics from Union College.

Cathy Tanimura has been promoted to Principal, Data Science. Cathy joined Summit as a Vice President in 2020. As a member of the Peak Performance Group, Cathy works closely with Summit portfolio companies to help create and execute strategies that effectively use data and analytics to drive better decisions and build better products. Prior to Summit, Cathy worked at Strava, Okta and Zynga. She holds an AB in economics from Princeton University and an MBA from the University of San Francisco. She is the author of SQL for Data Analysis: Advanced Techniques for Transforming Data into Insights.

Chandler Scott has been promoted to Vice President. Chandler joined Summit as an Associate in 2020 and is a member of the Technology team. His investment experience includes DocuSketch, Fundraise Up and PriceLabs. Prior to Summit, Chandler was an Analyst at EPIC Ventures. He holds a BS in economics with a minor in business strategy from Brigham Young University.

Ryan Grimshaw has been promoted to Portfolio Manager. Ryan joined Summit as a Portfolio Analyst in 2019 on the Public Equity team focusing primarily on the TMT sector. Prior to Summit, Ryan worked for Toast, Garelick Capital Partners and Needham & Company. He holds an AB in economics from Harvard University and is a CFA charterholder.

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About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

Led by Summit Partners, the investment will fuel Fundraise Up’s AI-powered innovation and global expansion, enhancing online fundraising impact for nonprofits worldwide

Brooklyn, New York – January 13, 2025 – Fundraise Up, a premier fundraising platform for nonprofits globally, today announced a minority growth investment led by Summit Partners with participation from existing investor Telescope Partners. The new funding reinforces Fundraise Up’s leadership position in the nonprofit technology sector and will support the company’s commitment to expand product offerings, accelerate global market reach, and provide innovative, AI-powered solutions purpose-built to unlock the fundraising potential and impact of nonprofit organizations.

Co-founded in 2017 by Peter Byrnes, Yuriy Smirnov, and Anton Isaykin, Fundraise Up was created to help nonprofits raise more money online. The Fundraise Up platform is the first to use predictive AI in donor experiences and is designed to address the inefficiencies and complexities of traditional online donation processes, helping to remove donor friction. With a differentiated transaction-based pricing model — requiring no contracts or fixed fees — Fundraise Up has achieved significant adoption across the nonprofit sector, including organizations such as UNICEF USA, The Salvation Army UK, the Canadian Red Cross and the American Heart Association.

“Nonprofits deserve access to the same technology and customer experience available throughout the e-commerce sector. This investment will enable us to accelerate our growth, expand our team, and further our mission to simplify and optimize the donation process for nonprofits worldwide,” said Peter Byrnes, CEO. “We look forward to leveraging Summit's expertise and resources to help drive even greater impact for nonprofits on a local and global scale.”

As online giving continues to grow, many nonprofits are held back by legacy solutions that slow donation revenue growth and inhibit fundraising efforts. Fundraise Up works to improve the donor experience through a seamless online donation process. With a strong focus on AI-driven, data-guided decisions, Fundraise Up helps its customers eclipse industry standards in areas like recurring donations and fee coverage.

"We believe increasing demand for digital solutions in the nonprofit sector presents a significant opportunity for Fundraise Up, and we are thrilled to support the company as it enters a new phase of growth,” said Michael Medici, a Managing Director at Summit Partners. “The Fundraise Up platform empowers customers to better engage with current and prospective donors, offering intuitive digital tools designed to increase conversion, enable modern payment methods, and personalize the giving experience.  We look forward to working together to help the team drive meaningful impact for nonprofits seeking to leverage technology to enhance their fundraising efforts."

"We believe Fundraise Up’s unwavering focus on their customers has positioned the company as a premier solution for nonprofit fundraising," said Mickey Arabelovic, Founder and Managing Director of Telescope Partners. "We’re proud to support their mission as they seek to raise the bar for nonprofit technology."

About Fundraise Up
Founded in 2017, Fundraise Up unlocks the world’s generosity potential by optimizing the way people give. As the best-in-class donation platform, Fundraise Up helps nonprofits of any size engage more supporters and grow revenue by providing easy ways to increase conversion, add modern payment methods, and personalize the giving experience for every donor. Today, nonprofits from mid-sized to enterprise use Fundraise Up’s AI-driven platform to make a bigger impact on their missions. For more information, visit fundraiseup.com.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

About Telescope Partners
Telescope Partners is a thesis-driven, early growth investor for exceptional entrepreneurs building enterprise software companies.  By combining operational expertise, strategic guidance, and a powerful network of resources, Telescope Partners supports entrepreneurs in building enduring, high-impact companies.

BOSTON, MA – Summit Partners, a leading growth-focused investment firm, is pleased to announce the addition of Ricardo Gonzalez as a Partner on the firm’s Growth Products & Services team. Mr. Gonzalez brings more than 15 years of investing and operating experience to the role and will draw on this experience to help support the growth of profitable, category-leading businesses and talented executives in the financial services, consumer, business services and industrial technology sectors.

Mr. Gonzalez joins Summit from New Mountain Capital, where he served as a Managing Director. He joined New Mountain in 2018, and during his tenure, Mr. Gonzalez led investing and operating activities across high-growth services sectors. Previously, Mr. Gonzalez served as a Director at Hellman & Friedman, as a consultant at The Boston Consulting Group, and in sales and marketing roles at Eli Lilly & Company.

“We are thrilled to welcome Ricardo to the Summit Partners team,” said Matthew Hamilton, a Managing Director on Summit’s Growth Products & Services team. “Ricardo brings a wealth of industry expertise and leadership experience to this role, making him an ideal addition to our team. I’m confident his insights, perspective and network will meaningfully benefit both our current and future portfolio companies.”

“I am excited to join Summit and work alongside such a talented team. The  firm has an impressive history of partnering with innovative businesses across growth sectors – from business services to consumer to multi-unit operations,” said Mr. Gonzalez. “I look forward to identifying new opportunities within these sectors and helping those companies achieve lasting impact.”

Mr. Gonzalez holds a BS in physics, summa cum laude and Phi Beta Kappa, from the City College of New York, an MS in biological engineering from the Massachusetts Institute of Technology, where he was a PD Soros fellow, and an MBA from the Stanford University Graduate School of Business. Mr. Gonzalez is one of 16 new additions to the Summit Partners investment team in 2024.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

Boston, MA — Later, a leader in influencer marketing and social media management software and services, today announced its acquisition of Mavely, the leading Everyday Influencer Platform.® This acquisition accelerates Later’s ability to deliver full-funnel impact and measurable ROI for marketers while enabling creators to maximize their earnings through social commerce. The deal, valued at $250 million, was funded with a strategic investment from global growth equity investor, Summit Partners.

Later's acquisition of Mavely from Rhyz Inc, a subsidiary of Nu Skin Enterprises (NYSE:NUS), extends its capabilities deeper into the purchase funnel, enabling end-to-end creator-driven marketing from awareness to conversion. Later's AI predictive analytics will now leverage first-party performance data from Mavely's network of more than 120,000 creators who have driven over $1 billion in gross merchandising volume (GMV) across over 1,400 major brands including Nike, Anthropologie, Lululemon, Macy's, Old Navy and Adidas.

“Bringing Mavely under the Later umbrella is a major step in redefining how marketers and creators work together,” says Scott Sutton, CEO of Later. “Mavely brings incredible technology, expertise, and a shared vision. By combining our strengths, we are enhancing the value we provide to marketers and empowering creators to build sustainable, income-generating businesses. This move enables us to deliver a seamless, full-funnel experience for marketers—offering return-on-ad-spend (ROAS) based campaigns and driving predictable, attributable outcomes. Through this acquisition, we’re able to create new and better opportunities for our clients, employees, and the entire creator ecosystem.”

Mavely’s cofounders and leadership team—CEO Evan Wray, CTO Sean O’Brien, and CFO Kevin Kenefick—will join Later’s leadership team and will play pivotal roles in shaping the future of the company.

“We’ve always believed in the power of creators to drive authentic engagement and real business outcomes, at scale,” said Evan Wray, CEO of Mavely. “Joining forces with Later allows us to take this to the next level, creating a more comprehensive platform that delivers value to both creators and marketers. Together, we’re building a future where creators are at the center of the marketing ecosystem, and brands have the tools they need to connect with their audiences in impactful and measurable ways.”

Later will continue to focus on helping its clients level up their influencer marketing strategies by combining the strengths of both platforms to drive innovation, enhance creator collaboration, and help marketers plan, budget, forecast, and deliver measurable, impactful results with greater confidence. Mavely will continue to focus on providing a world-class creator experience to maximize creator earnings and accelerate this vision through the business combination.

For more information, visit www.later.com.

About Later
Later is the enterprise leader in social media and influencer marketing software, services, and data. Our integrated platform helps brands, agencies, and creators maximize return on social through streamlined creator partnerships and campaign management. Backed by proprietary data and deep integrations with

leading social platforms, Later helps marketing leaders find predictable revenue drivers in the creator economy. Learn more at later.com.

About Mavely
Mavely is the Everyday Influencer Platform® that empowers real people to monetize their content by promoting the world's favorite brands. Deploying a performance-driven approach to influencer marketing, Mavely's network of creators drives hundreds of millions of dollars each year in sales for brand partners across diverse niches and platforms, with attributable data from post to purchase. Learn more about Mavely at joinmavely.com.

Source: Later

Summit Partners is proud to announce the recognition of Colin Mistele and Sophia Popova on GrowthCap's 2024 list of “Top 40 Under 40 Growth Investors.” Colin and Sophia were selected based on their demonstrated ability to be a strong partner to stakeholders, including portfolio companies and colleagues, among others.

Colin Mistele is a Managing Director on Summit’s Technology team. He joined the firm’s Menlo Park office as an Associate in 2011 and was named a Managing Director in 2021.

Colin has led or played a significant role in 23 Summit investments across several software categories, including cybersecurity, vertical software, and consumer internet. His current board and investment experience includes Coderpad, DocuSketch, Foxen, Jamf (NASDAQ: JAMF), Jobber, Jungle Scout, NinjaOne, onXmaps, Podium, PriceLabs, Red Canary, and TextExpander. Colin’s prior experience includes investments in Advanced Cell Diagnostics (acquired by Bio-Techne Corporation), Gainsight (acquired by Vista Equity Partners), InfoArmor (acquired by Allstate Corporation), Reverb.com (acquired by Etsy), RiskIQ (acquired by Microsoft), TeleSign (acquired by BICS), TSheets (acquired by Intuit), and Uber (NYSE: UBER).

Sophia Popova is a Partner on Summit’s Technology team. She joined the firm in 2017 as a Vice President and was promoted to Partner in January 2023. Sophia has played an active role in nine Summit investments, many of which are focused on front-office software including content creation, martech, adtech and commerce enablement. Her current board and investment experience includes Invicti Security, Klaviyo (IPO, NYSE: KVYO), Later (formerly Mavrck), Vensure Employer Services (formerly PrismHR), Sifted, StackAdapt and Ylopo.

Read more about Colin, Sophia and their fellow honorees at GrowthCap.

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^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s overall career through a demonstrated ability to be a strong partner to their stakeholders, including their portfolio companies  and their colleagues, among others. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direction communication with portfolio company executives and/or others in the industry.}

^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners.  Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. This award was issued on December 18, 2024 and was based on the time period since inception of each individual’s career at Summit Partners through November 15, 2024.  There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

Existing investors purchase shares from Summit Partners, original investor who exits after nearly a decade of partnership with RELEX

Helsinki, Finland – RELEX Solutions, a provider of unified supply chain and retail planning solutions, today announced that funds managed by Blackstone Growth (“Blackstone”), Blackstone’s growth equity investing business, and TCV, a leading investment firm focused on investing in global, category-defining, technology companies, have increased their investment in RELEX. The transaction represents an exit for original RELEX investor Summit Partners, which initially invested in the company in 2015. Blackstone and TCV first invested in RELEX in 2022 and 2019, respectively.

“We've been proud to support RELEX's continued innovation and global expansion over nearly a decade of partnership,” said Steffan K. Peyer, a Managing Director at Summit Partners, who has served on the RELEX Board of Directors since 2015. “At the time of our investment, RELEX was one of the very few disruptive vendors leveraging leading-edge technologies and machine learning to process huge volumes of data to help drive better real-time outcomes in the retail supply chain. Today, against a backdrop of channel proliferation and ever-evolving consumer expectations, RELEX's solutions continue to resonate with customers worldwide.”

Learn more about Summit’s partnership with RELEX and three key themes we see driving continued growth in the supply chain sector.

Blackstone and TCV’s additional investment underscores their conviction in RELEX’s growth trajectory, and reaffirms their commitment to supporting the company’s strategy, which includes expanding its addressable market into the consumer packaged goods (CPG) and manufacturing sectors, following the acquisition of Optimity earlier this year.

As reported in August, RELEX continues to deliver impressive growth, with reported subscription revenue increasing 37% year-over-year (YoY), and total revenue growth of 35% YoY, during the first half of 2024. RELEX also benefitted from continued customer growth across all sectors, with new and expanded customer signings across the globe, as a variety of retailers and consumer goods companies recognize the inherent value in RELEX’s planning solutions.  

“We are deeply grateful to Summit Partners for their decade-long commitment to RELEX. The firm’s support of our vision and strategy has been instrumental in our transformation and growth into new markets and new regions," said Mikko Kärkkäinen, Group CEO and Co-founder of RELEX Solutions. “As we look ahead to the next chapter, we are thrilled to have Blackstone and TCV reinvest in RELEX. Their support will enable us to further expand our addressable market, strengthen our product offerings, and deliver even greater value to our customers worldwide. Our partnership is based on a shared commitment to our customers and building a very happy customer-base.”

“Our increased investment in RELEX reflects our confidence in their exceptional team and their AI-driven retail and supply chain planning platform. RELEX has shown remarkable growth and resilience, and their solutions are more relevant than ever in today's dynamic market environment. We are thrilled to support their journey as they continue to innovate and leverage AI to bring more value to customers, and expand their reach, particularly in the consumer packaged goods and manufacturing industries,” said John Doran, General Partner at TCV.

“RELEX has cemented its position as a leading next-generation supply chain software player globally. RELEX has an impressive track record of strong growth, successful customer implementation and exceptional customer satisfaction. We are excited to reinvest in the company and look forward to our ongoing partnership to support their continued expansion into new markets and sectors,” said Paul Morrissey, Senior Managing Director and Nicolas Dupuis, Principal at Blackstone Growth.

Financial details of the transaction are not disclosed.

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About RELEX
RELEX Solutions provides a unified supply chain and retail planning platform that aligns and optimizes demand, merchandising, supply chain, operations, and production planning across the end-to-end value chain. We help retailers, manufacturers, and consumer goods companies like ADUSA, AutoZone, Coles, Dollar Tree and Family Dollar, M&S Food, PetSmart, and The Home Depot drive profitable growth across all sales and distribution channels, leading to higher product availability, increased sales, and improved sustainability. Learn more at www.relexsolutions.com/customers.

Farmington Hills, MI – UHY, a leading accounting, tax, consulting and advisory services firm, today announced a growth investment from Summit Partners. This investment will support the continued expansion of UHY's team, technology, and best-in-class client service offerings, while helping to accelerate both organic and acquisition-driven growth. This funding represents UHY’s first institutional capital, signaling a significant milestone in the firm's growth and strategic development.

Established in 2000, UHY serves a diverse client base ranging from closely held middle-market companies to Fortune 500 firms, providing tailored solutions designed to meet each business’s unique needs. UHY has experienced significant growth over the last four years, completing 15 strategic acquisitions that have helped expand its global network to serve clients across numerous high-growth industries. Today, UHY is ranked 29th on Accounting Today’s list of Top 100 Firms and operates nearly 40 offices with over 1,800 professionals across the United States. Through its global network, UHY International, the firm is represented in 334 offices across 96 countries.

“This partnership marks the beginning of a new and expanded era of growth for UHY. Together with Summit, we are focused on scaling our impact while continuing to deliver the highest-quality service and outcomes for our clients and colleagues,” said Steve McCarty, CEO of UHY.  “This new capital – and Summit’s commitment to operational excellence and deep experience supporting profitable growth – will help us accelerate our growth strategy, deepen relationships with existing clients, and set new standards in the dynamic middle market.”

“UHY has established itself as a highly respected, market-leading accounting, tax, consulting and advisory services firm built on a reputation for client service and innovation,” said Paul Furer, a Partner at Summit who has joined UHY’s Board of Directors. “We have been deeply impressed by UHY leadership, particularly by the team’s demonstrated ability to drive strong organic growth while building a strategic acquisition engine. We are thrilled to join forces with the UHY team to support the firm’s continued expansion.”

"UHY is consistently ranked best-in-class for quality of service and client satisfaction, and we believe this is a testament to our service-focused team and the culture of excellence we've created," added McCarty, "We are excited to continue growing our team and building on UHY's position as an industry leader."

Terms of the transaction were not disclosed.
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About UHY
UHY is one of the nation’s largest professional services firms providing accounting, tax, consulting and advisory services to clients primarily in the dynamic middle market. UHY translates its experience from working within numerous industries for its clients to provide them with a 360-degree view of their businesses. Together with their clients, UHY works collaboratively to develop flexible, innovative solutions that meet their clients’ business challenges. Visit www.uhy-us.com.

“UHY” is the brand name under which UHY LLP and UHY Advisors, Inc. provide professional services. The two firms operate as separate legal entities in an alternative practice structure.  UHY LLP is a licensed independent CPA firm that performs attest services.  UHY Advisors, Inc. provides tax and business consulting services through subsidiary entities.  UHY Advisors, Inc. and UHY LLP are U.S. members of Urbach Hacker Young International Limited (UHY International), a UK company, and form part of the international UHY network of legally independent accounting and consulting firms.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

Louvain-la-Neuve, Belgium – Odoo S.A., a leading provider of integrated business software, today announced a €500 million investment led by CapitalG and Sequoia Capital, with participation from BlackRock, Mubadala Investment Company, HarbourVest Partners, AVP, and Alkeon. This secondary capital transaction reflects strong confidence in the company’s vision and impact. As part of the transaction, existing investors Summit Partners, Noshaq, and Wallonie Entreprendre  are selling a portion of their shares; Summit will remain Odoo’s largest institutional shareholder.

This major transaction underscores Odoo’s leadership position in the SMB software ecosystem and strong, profitable financial profile. It also highlights the company’s continued momentum in reshaping the business software landscape with innovative, accessible solutions for companies worldwide.

In short:

• Odoo has consistently grown at 40% per year and expects to reach €1 billion in billings by 2027.
• The company has over 13 million users and adds 7,000 new clients each month.
• This €500 million investment marks the latest round of third-party investment, underscoring sustained investor confidence in the company’s growth trajectory.
• With this investment round, Odoo’s valuation has risen to €5 billion, reflecting the company’s rapid profitable growth and market leadership, even amid a challenging economic landscape.

Since its founding in April 2002, Odoo S.A. has been dedicated to developing and continuously enhancing a comprehensive suite of management software applications for small and mid-sized businesses. Today, with over 13 million users and currently adding more than 7,000 new clients each month, Odoo has built a strong presence in the industry. Known for its intuitive and user-friendly design, Odoo empowers companies to focus on what matters most: improving customer satisfaction, driving innovation, optimizing business processes, and scaling operations efficiently.

Odoo S.A. has achieved sustained annual growth of 40% and is projected to exceed €650 million in billings within the next 12 months, with a target of reaching €1 billion in billings by 2027. The company has strengthened its global presence by establishing 15 subsidiaries and building a network of 7,500 partners worldwide. With this latest investment, Odoo S.A.’s valuation has reached €5 billion.

"Fabien and his team have built a one-of-a-kind business from their ambitious vision for a unified suite of tightly integrated business apps," said Alex Nichols, partner at CapitalG, the independent growth firm of Alphabet Inc., Google's parent company. "Odoo's powerful and easy-to-use suite of apps has won over customers across more than 100 countries and virtually every industry, as well as companies with anywhere from one to thousands of employees. The team's two decades of dedication and long-term thinking has fostered a robust community of partners, contributors, and users that will serve as their foundation for years to come. We are thrilled to partner with Fabien and the rest of Odoo's leadership team."

"Odoo has built an outstanding software company with a unique culture, product suite, and ecosystem,” said Andrew Reed, partner, Sequoia Capital. “Odoo is a tremendous business already, and it feels like their best days are still ahead. Odoo has the long-term potential to transform the SMB software market and deliver enormous value to customers. We're excited to partner with Fabien and the Odoo team for the long-term."

The recent launch of Odoo 18, the most advanced iteration of the company’s software, on October 2nd, strengthens the company’s market position and enhances overall performance and customer experience.

“ERPs are traditionally expensive and resource-intensive to implement, often failing to meet the actual needs and evolving requirements of SMEs. We have developed a unique value proposition that is playing a pivotal role in the market” explains Fabien Pinckaers, founder and CEO of Odoo S.A.

This €500 million investment exemplifies the international recognition and trust that Odoo has garnered within the investment community. Following investments led by Summit Partners in 2019, 2021 and 2022, this latest round further highlights Odoo’s appeal to investors.

Faris Al Mazrui, Head of Growth at Mubadala, said; “Odoo stands out as a prime example of innovation in global software, offering scalable, adaptable solutions that empower businesses in the digital and cloud transformation journey. With Mubadala’s expertise in software investments and the UAE’s role as a fast-growing tech hub, we see Odoo as an exceptional partner for companies adapting to cloud and AI megatrends. We’re excited to support their growth worldwide”.

“Odoo continues to deliver solutions that we believe are helping to transform the business software landscape – and they are doing so with impressive traction,” added Antony Clavel, a Managing Director at Summit Partners who has served on the Odoo Board of Directors since Summit’s initial investment in 2019. “We are delighted to welcome new investors and look forward to working together to support Odoo’s exciting growth trajectory.” Following this transaction, Summit remains Odoo’s largest institutional shareholder.

Odoo does not stop here. For 2025, the unicorn is already expecting many more opportunities and expansion projects, enhancing Odoo’s capabilities for research and development, and allowing accelerated innovation in its product offerings.

“We are expecting to open five new subsidiaries within the next three years across Europe, Latin America and Asia-Pacific,” said Sebastien Bruyr, Odoo S.A. Chief Commercial Officer.  Odoo’s Chief Finance Officer, Alessandro Mazzocchetti, added, “I’m confident that Odoo will remain profitable in terms of EBITDA and Cash Flow as we expand our team and global reach. We will keep working hard to serve our customers and partners!”.

For Olivier Vanderijst, CEO of Wallonie Entreprendre (WE), "the visionary and strategic nature of Odoo's management and the rigour with which it has implemented this vision have led to an incredible valuation of 5 billion euros, which has attracted the best investors in the world. This is why WE has signed this transaction, while remaining a shareholder in the company to support its future growth as a local player".

J.P. Morgan SE acted as exclusive placement agent on this transaction.

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About Odoo S.A.
Since its creation in 2002, Odoo has emerged as a leading integrated business solutions' provider. With its range of integrated, scalable and functional applications, Odoo offers a comprehensive, modular suite that meets the specific needs of every business, making it a suitable solution for organizations of all sizes and sectors, from start-ups to large corporations.

With billings of 370 million euros in 2023, estimated at 500 million euros over the next 12 months, Odoo employs nearly 5,000 people worldwide, including more than 1,200 in Belgium. In addition, the company has built over 7,500 partners, creating more than 30,000 business-related jobs in 130 countries. With 19 offices worldwide (Belgium (5), Luxembourg, Spain, Germany, Hong Kong, India, Australia, USA (2), Mexico, Kenya, Dubai, Indonesia, Brazil, Italy), Odoo serves a global community of 13 million users. For more information, visit the Odoo website at www.odoo.com.

About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, and has invested in more than 550 companies in technology, healthcare, and other growth industries. Notable technology and software companies financed by Summit Partners include Acturis, Avast, Darktrace, Calypso, FLEETCOR, Flow Traders, Infor, Klaviyo, Ogone, RELEX Solutions, Smartsheet and Trintech. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

About CapitalG
CapitalG, Alphabet's independent growth fund, invests in remarkable companies transforming the fields of enterprise infrastructure, security, and data; fintech; and consumer services and marketplaces. CapitalG partners with growth stage companies in their transition from startup to scale up through hands-on assistance from its in-house growth experts and connections to Google's engineering, product, marketing, sales and people operations experts worldwide. More than 35000 Googlers and Alphabet leaders have engaged with CapitalG portfolio companies, including Airbnb, CrowdStrike, Databricks, Duolingo, Freshworks, Gusto, Lyft, Stripe, UiPath, Monzo and Zscaler, among others. Learn more at https://capitalg.com.

About Sequoia Capital
Sequoia helps daring founders build legendary companies from idea to IPO and beyond. We aim to be the first true believers in tomorrow’s most valuable and enduring businesses. We partner with a few outliers each year and go all-in, providing them with the hands-on help required at every stage of the company building journey. Our expertise comes from 50 years of working with legendary founders like Steve Jobs, Larry Page, Jan Koum, Jensen Huang, Brian Chesky, Jack Dorsey, Eric Yuan, Lynn Jurich, Patrick Collison, Sebastian Siemiatkowski, and Christina Cacioppo. In aggregate, Sequoia-backed companies account for more than 25% of NASDAQ's total value. Since our inception, the vast majority of the money we invest has been on behalf of nonprofits and schools like the Ford Foundation, Mayo Clinic and MIT, which means most of the returns we generate benefit these great causes.

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Company completes fifth acquisition in two years, with the latest focused on accelerating the growth of its solutions in the Credit vertical
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São Paulo and Porto Alegre, Brazil - Celcoin, a leading company in the financial technology infrastructure market, today announced the acquisition of CobranSaaS, a leading provider of loan and debt collection management solutions, used by investment managers, banks, card administrators, retailers, ERPs, and FIDCs, among others. CobranSaaS serves over 90 clients, including notable names like Cielo, Neon, Magalu, DM Card, Pernambucanas, C&A, and Empírica, issuing more than six million invoices each month.

Founded in 2013 by Marcos Gabbardo, Marcos Peruzzo, and Thiago Peruzzo, CobranSaaS offers a complete solution for loan management and collection, including servicing, recurring and non-recurring collections. The acquisition represents Celcoin's latest investment to enhance its credit solution, one of the company's main competitive differentiators. Celcoin’s credit solution encompasses all stages of the process, from onboarding to setting limits and credit analysis. In partnership with CobranSaaS, Celcoin’s collection capabilities will be meaningfully enhanced.

“The acquisition of CobranSaaS strengthens our strategy to offer a complete and integrated solution for credit operations. With this addition, we can efficiently close all stages of the cycle. Moreover, the modularity of our solution allows each company to configure its system according to its needs, reducing operational costs and simplifying technological development,” says Marcelo França, CEO of Celcoin.

Celcoin has experienced significant growth over the last several years, attracting attention from global investors. In June 2024, growth equity investor Summit Partners led a USD125 million investment in Celcoin, which was primarily aimed at bolstering the company’s strategic acquisition strategy. To further this goal, Celcoin expanded its leadership team with the addition of Sergio Meirelles as Strategy and M&A Director. Mr. Meirelles previously held M&A leadership roles at iFood/Movile, BRF, Arco, and Citi.

The acquisition of CobranSaaS marks Celcoin’s fifth strategic acquisition since 2022. Previous acquisitions include Galax Pay, which specializes in billing and sub-acquisition solutions, Flow Finance, which provides credit infrastructure, Finansystech, a leading Open Finance startup, and Reg+, a provider of technology solutions dedicated to regulatory compliance support.

“Now, as part of the Celcoin ecosystem, we will contribute to the most comprehensive credit and collection product in the market, adding portfolio management capabilities to make our clients’ daily operations easier. With such a robust product, Celcoin is well-positioned to be a market leader,” says CobranSaaS Director, Marcos Gabbardo.

About Celcoin
Founded in 2016, Celcoin is a financial infratech company that empowers businesses. Its solutions are divided into three major verticals: Payments, Banking, and Credit, all catering to both regulated companies, such as banks, Payment Institutions (PIs), and Direct Credit Societies (SCDs), as well as non-financial players from any sector. Approximately 500 fintechs and digital banks, along with over 6,000 medium and large enterprises, are connected to Celcoin’s platform, collectively processing USD3.5 billion monthly.

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Source: Celcoin

On the latest episode of GrowthCap’s Growth Investor Podcast, Summit Partners CEO and Managing Director Peter Chung discusses the evolution of the growth equity industry, Summit’s 40-year focus on growth investing and the changes he’s seen in the tech sector over his career.

Peter joined Summit Partners in 1994 and focuses primarily on the technology sector. During his tenure, he has invested in more than 30 companies, including 18 currently or formerly publicly traded companies. He has served as the firm’s CEO since 2015.

GrowthCap recognized Summit Partners as a Top Private Equity Firm and a Top Growth Equity Firm in 2024.

Listen to the full podcast on iTunes, YouTube or Spotify.

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Awardee selections are based on GrowthCap’s evaluation of each firm’s leadership, the composition of the overall organization, functional capabilities, unique competitive advantages, and investment judgement, among other factors. Information on firms was received through GrowthCap’s online submissions portal, nomination forms, direct communications as well as through our additional research. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.

The awards referenced herein reflect the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. The podcast reference herein was published by GrowthCap on November 14, 2024.

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Boston, MA; Nantes, FR; London, UK; Dusseldorf, DE – Akeneo, the Product Experience (PX) company, announces the appointment of Romain Fouache as its new CEO, effective November 4, 2024. Fouache brings 22 years of experience in high-growth software businesses, previously serving as COO and CRO at Dataiku, the leading platform for everyday AI. His appointment marks a pivotal moment for Akeneo, aligning with the company’s accelerated global expansion and commitment to delivering innovative, AI-driven product solutions that engage consumers worldwide.

With a compounded growth rate of over 35% in the past four years, Akeneo has established itself as a leader in the Product Information Management (PIM) market and is the fastest-growing solution in the US, with over 100% growth in the region in just two years. Fouache’s expertise will further drive this momentum, as he focuses on growing Akeneo’s North American footprint and expanding the use of AI to help brands and retailers streamline product experiences across all sales channels.

“I’m honored to join Akeneo as it leads the market into a new era of PX, powered by AI and designed to guide consumers to the best purchase, anytime, anywhere,” said Fouache. “My mission is clear: to scale Akeneo’s operations, accelerate our growth, and deliver greater value to our customers worldwide.”

Fred de Gombert, the co-founder and current CEO, will remain actively involved as President and member of the Board of Directors. He expressed his confidence in Fouache’s leadership: “After 12 amazing years as Akeneo’s CEO, I am deeply proud of everything we have accomplished. I’m confident that Romain is the right leader to take Akeneo forward. In 2024, our platform will generate more than 4 billion unique product experiences, a testament to the value we deliver to our customers. I believe Romain will build on this momentum to drive our mission forward.”

In a rapidly changing retail landscape, more and more businesses are realizing the material benefits of investing in a single source of truth for product and product-related information. Akeneo is well-poised to support their needs and accelerate their business objectives, leading the PIM market in AI-driven product experiences.  Under Fouache’s leadership, Akeneo remains dedicated to providing the software, education, and engaged community that businesses rely on to increase sales, reduce returns, and streamline their internal operations.

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About Akeneo
Akeneo is the product experience (PX) company and global leader in Product Information Management (PIM); creating a world where every product interaction is an experience
that guides consumers and professionals to the best purchase, anytime, anywhere. Akeneo empowers business leaders with software, education, and an engaged community all focused on the practice of product experience management.

Leading global brands, manufacturers, distributors, and retailers, including Chico’s, CarParts.com, TaylorMade Golf, Rail Europe, Kering, and more trust Akeneo to scale and customize their omnichannel commerce initiatives. Using Akeneo’s intelligent Product Cloud, companies can create elevated product experiences with user-friendly and AI-powered product data enrichment, management, syndication, and supplier data onboarding; as well as a comprehensive app marketplace and partner network to meet business and buyer needs. For more information: www.akeneo.com

We’re honored to be named to Inc.’s 2024 List of Founder-Friendly Investors. The list recognizes firms with a commitment to supporting founder-led businesses and helping them thrive.

For over 40 years, Summit has had the privilege of collaborating with hundreds of executives and management teams – partnering with more than 90 founder-led companies in the last five years alone. This experience has fostered a deep appreciation for the courage and vision required to start a business, and the tenacity and talent needed to grow it profitably. We are proud to support these growth journeys – and we look forward to many more.

Read more about a few of the founders we’ve supported and the companies they’ve built in Stories from the Climb – a series dedicated to celebrating and sharing the challenges of building a growth company.

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^{Award selections are determined based on Inc.’s evaluation of each nominated private equity, venture capital and debt firm’s ability to remain actively involved with the businesses they invest in and earn the trust of the entrepreneurs they support to help drive growth. To compile the list, Inc. spoke directly with entrepreneurs who have sold to private equity, venture capital and debt firms. Entrepreneurs filled out a questionnaire about their experiences partnering with private equity, venture capital, and debt firms and shared data on how their portfolio companies have grown during these partnerships.}

^{To view the full list of honorees and read more about the selection methodology, visit Inc.’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. The 2024 list of Founder-Friendly Investors, issued by Inc. on October 29, 2024, was based on the time period January 2019 through May 2024.  Summit Partners submitted a nomination and paid a fee to submit a nomination to Inc. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

Latest flagship fund will continue the firm’s longstanding focus on investing in profitable growth businesses

BOSTON, MA; MENLO PARK, CA; NEW YORK, NY; LONDON, UK –  Summit Partners, a global growth equity investment firm, today announced the closing of its latest flagship U.S. growth equity fund. Summit Partners Growth Equity Fund XII (“Summit XII”) launched fundraising in late April 2024 and held its closing after approximately five months with $9.5 billion in capital. Consistent with the firm’s prior funds, the general partner will be the single largest investor in Summit XII.

“We are deeply grateful for the longstanding support of our existing limited partners and are pleased to welcome several new investors,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “With the closing of our latest flagship fund, we will continue to execute our growth equity investing strategy. This strategy, which we believe is both timeless and time-tested, is grounded in our foundational belief that profitable growth is the most reliable source of superior risk-adjusted returns through market and economic cycles. We look forward to serving our limited partners and our portfolio companies as the partner of choice for category-leading growth companies in the technology, healthcare, and growth products and services sectors.”

Today, Summit’s global team includes more than 100 investment professionals with deep domain knowledge within key growth sectors, including technology, healthcare, financial technology and services, business services and consumer. The team works collaboratively across offices in the U.S. and Europe, leveraging four decades of industry experience to partner with executives and management teams and help support the profitable growth of the businesses they lead. As active board members and through the Peak Performance Group, the firm’s dedicated value enhancement team, Summit offers strategic resources designed specifically to provide expertise in areas the firm believes are critical to promoting long-term, profitable growth, including revenue optimization, digital marketing, human capital strategy, capital markets, and technology and data science.

In 2024, Summit Partners celebrated 40 years of growth investing. With this new fund, the firm will execute the strategy it pioneered in 1984, even as the team continues to innovate and refine its approach to supporting the growth of the businesses with which it partners. Summit XII will target majority and minority investments of $75 to $500 million primarily in profitable, category-leading growth companies. With this new capital, Summit is now managing more than $46 billion in assets across its fund complex.

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About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.

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^{In the United States of America, SummitPartners operates as an SEC-registered investment advisor. In the UnitedKingdom, this document is issued by Summit Partners LLP, a firm authorized andregulated by the Financial Conduct Authority. Summit Partners LLP is a limitedliability partnership registered in England and Wales with registered numberOC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ,UK. This document is intended solely to provide information regarding SummitPartners’ potential financing capabilities for prospective portfolio companies.}

Three members of Summit’s global Technology team – Michael Medici, Len Ferrington and Andrew Collins – were named to GrowthCap’s “Top Software Investors of 2024” list. In determining this year’s list, GrowthCap evaluated each investor based on overall career, breadth of investing experience, capability for scaling companies, recent investments made and exited, as well as character, among other factors.

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Michael Medici joined Summit in 2005 and has since led or played a significant role in 19 Summit investments, representing more than $1.0 billion in invested capital, including more than $545 million in the last five years alone. He has invested in and partnered with numerous high-growth companies across the technology landscape, building deep sector expertise within several software subsectors, including e-commerce enablement, marketing automation, infrastructure and DevOps, industrial technology and supply chain.

Michael’s current board directorships include Klaviyo (NYSE: KVYO), MacStadium, Later (formerly known as Mavrck) and Sifted. His prior investments and directorships include Acacia Communications (NASDAQ: ACIA, later acquired by Cisco), Accedian Networks (acquired by Bridge Growth Partners), Anesthetix (acquired by TeamHealth), Clarabridge (acquired by Qualtrics), Diagnostic Hybrids (acquired by Quidel Corporation), Fermentas International (acquired by Thermo Fisher Scientific), Hiperos (acquired by Opus Global), Logi Analytics (acquired by Marlin Equity Partners), Mi9 Retail (acquired by General Atlantic), and Telerik (acquired by Progress Software).

Len Ferrington joined Summit in 2006 and has since led or played a significant role in investing more than $1.8 billion across 14 Summit portfolio companies. Over the course of his career, Len has invested in and partnered with numerous high-growth companies across the technology landscape, building deep expertise across numerous technology subsectors including robotics and automation, application software, and solutions enhancing education, talent and overall workforce productivity.

Len’s current board directorships include Keeper Security, Ruffalo Noel Levitz, StackAdapt and Ylopo, and he is active in the firm’s investment in QAD. Len’s board and investment experience includes Access Information Management (acquired by Berkshire Partners), Aeryon Labs (acquired by FLIR Systems), Ascentis (acquired by UKG), Heald College (acquired by Corinthian Colleges), Redzone (acquired by QAD), Smartsheet (NYSE: SMAR), Teaching Strategies (acquired by KKR), Trident University International (acquired by Perdoceo Education Corporation) and Ubiquiti (NYSE: UI, formerly Ubiquiti Networks).

Andrew Collins joined Summit in 2008 and has since led or played a significant role in over 20 investments, representing over $1.65 billion in capital, including more than $700 million in the last two years alone. Over his 16+ year tenure at Summit, Andy has developed deep sector expertise across various technology subsectors, including infrastructure software, cybersecurity, IT operations software, and vertical market software.

Andy’s current investment and board experience includes Jamf (NASDAQ: JAMF), NinjaOne, Podium Corporation, Recharge, and Red Canary. His prior experience includes InfoArmor (acquired by Allstate Corporation), NetWitness (acquired by EMC Corporation), Reverb.com (acquired by Etsy), RiskIQ (acquired by Microsoft), Uber (NYSE: UBER), Ubiquiti (NYSE: UI, formerly Ubiquiti Networks), Wildfire Interactive (acquired by Google) and Winshuttle (acquired by Symphony Technology Group).

Read more about Michael, Len, Andrew and their fellow honorees at GrowthCap.

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^{Award selections are determined based on GrowthCap’s evaluation of the nominees breadth of investing experience, capability for scaling companies, recent investments made and exited, as well as character, among other factors. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direct communication with portfolio company executives and/or others in the industry. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website. This award is the opinion of the party conferring the award and not of Summit Partners. GrowthCap’s Top Software Investors of 2024 List was based on information provided by Summit Partners with respect to each individual’s contributions since he joined Summit Partners through August 31, 2024. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

Darktrace, a global leader in cybersecurity AI, today announced the completion of its acquisition by Thoma Bravo for $5.3 billion. The recommended cash acquisition was announced on 26 April 2024 and the Scheme of Arrangement has now become effective.

Founded in 2013 by mathematicians and cyber experts from governmental intelligence backgrounds, Darktrace was a pioneer in the application of artificial intelligence and machine learning concepts to address the insidious – and increasingly complex – problem of cyberattacks. Building on our long history of investing in the cyber security market, Summit Partners led the company’s Series B round in 2015 and followed with further investments in 2016, 2017 and 2020. In 2021, Summit supported Darktrace through their IPO on the London Stock Exchange and continued to serve on the company’s Board of Directors.

Over the course of Summit’s nine-year partnership with the Darktrace team, we have been proactive supporters of the company’s mission, reinforcing product development and international expansion, and leveraging Summit’s network and deep experience in the security space. Darktrace has grown to become  a global leader in cybersecurity, and today the company employs over 2,300 people around the world and protects over 9,400 customers globally from advanced cyber threats. The Darktrace ActiveAI Security Platform™ provides a full lifecycle approach to cyber resilience that can autonomously spot and respond to known and unknown in progress threats within seconds across the entire organization, including cloud, apps, email, endpoint, network and operational technology.  

This acquisition marks a significant milestone in Darktrace's journey in revolutionizing cybersecurity, and we look forward to seeing the company’s next phase of evolution and growth.

Read more about the transaction here.

Cambridge, MA – HyperLight Corporation, a leading provider of thin film lithium niobate (TFLN) photonic integrated circuits (PICs), today announced a US$37 million Series B investment led by Summit Partners. The round includes participation from existing investors Xora Innovation, a deep tech venture fund backed by Temasek, and Foothill Ventures. Peter Chung, Managing Director and CEO of Summit Partners, will join HyperLight’s Board of Directors.

The continuing need for more bandwidth and greater power efficiency, accelerated by AI, is driving the industry’s transition to next-generation photonics technology. Current PICs have performance limitations due to their material properties and have become bottlenecks for high-performance optical communication. HyperLight’s TFLN PICs deliver unmatched bandwidth and energy efficiency well-aligned with the current and future needs of AI/data center infrastructure, telecommunications optical networks, and high-performance computing. Since the company’s founding in 2018, HyperLight has delivered industrial-scale TFLN PICs with a trusted supply chain. This new financing allows the company to accelerate product development and meet rapidly growing customer demand.

“We believe TFLN will be the photonics platform of the future and identified HyperLight as an emerging category leader,” said Peter Chung of Summit Partners. “The HyperLight team has established an impressive track record of pioneering innovation and strong execution. In a short time, the company has evolved this critical technology into market-ready products with a production-ready supply chain. We look forward to supporting the HyperLight team and working alongside the company’s current investors as they pursue their vision to build a category-defining company in photonics.”

“We are thrilled to welcome Summit Partners as a new investor given their capabilities and deep experience in photonics, including investments in E-TEK Dynamics, Finisar, MACOM and Acacia Communications,” said Mian Zhang, President and CEO of HyperLight Corporation. “This financing round, supported by investors with demonstrated experience in the photonics industry, will enhance our ability to serve the current and future needs of our customers as a trusted innovation partner. We are ready to serve the industry with high-speed and energy-efficient photonic IC solutions designed to enable the network of the future.”

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About HyperLight Corporation
HyperLight delivers high-performance photonic ICs and cutting-edge photonics solutions. Founded in 2018 in Cambridge, MA, USA, HyperLight has been at the forefront of industrializing TFLN technology. The company designs, manufactures, and markets PICs based on its proprietary production grade TFLN platform, serving customers worldwide across optical communications, industrial equipment, and emerging photonics markets.  HyperLight is dedicated to providing its customers with the highest performance and competitive total cost of ownership at scale. For more information, please visit https://hyperlightcorp.com/, or follow us on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Notable investments in the communications technology sector include Acacia Communications, Arista Networks (NASDAQ: ANET), Ditech Networks, E-TEK Dynamics, Finisar, Hittite Microwave, MACOM (NASDAQ: MTSI), PowerWave Technologies, Sirenza Microdevices and Ubiquiti (NYSE: UI). Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please visit www.summitpartners.com or follow on LinkedIn.

photonics

Majority investment will help enable eClinical to advance the future of digital trials via continued enhancements to its leading AI-powered data products and biometrics services

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BOSTON – eClinical Solutions LLC, a global provider of digital clinical software and services, today announced that GI Partners, a private investment firm, has made a majority investment in the company. This affirms eClinical Solutions’ position as a trusted partner for large, mid-size, and emerging life science organizations looking to accelerate research and drive tomorrow’s therapeutic breakthroughs amid growing trial complexity. Additionally, this agreement demonstrates GI Partners’ commitment to investing in growth-oriented businesses that drive innovation in mission-critical sectors like the life sciences. Financial terms of the private transaction were not disclosed.

Headquartered in the Boston metropolitan area, one of the nation’s leading pharma and biotech innovation hubs, eClinical Solutions has been creating technology to help solve the market’s growing clinical data challenges since its founding in 2012. The company’s elluminate Clinical Data Cloud® SaaS platform is designed to optimize data flows, accelerate cycle times and increase productivity to future proof clinical trials for clients. Recognized as a leader in the data infrastructure and analytics category, eClinical works with 16 of the Top 50 biopharmaceutical companies, helping them unlock the value of their data with a modern infrastructure.

“When we founded eClinical over a decade ago, clinical data volume and complexity were beginning to escalate rapidly. To improve trial efficiency and help pharmaceutical companies keep up with the mounting pressure to shorten timelines, we had a vision to create frictionless data flows enabled by cloud and digital platforms,” said Raj Indupuri, co-founder and CEO of eClinical Solutions, who will continue to lead the company along with the current management team. “A lot has changed over the years, but our mission hasn’t. We are helping our clients get treatments to patients faster by providing them with a data infrastructure and analytics foundation that powers critical efficiencies across the R&D lifecycle. GI’s support will help fuel the next phase of our company’s journey, as we look to deepen our product roadmap, extend embedded AI capabilities, and help drive future-ready trials.”

“We’re incredibly proud of the organization we’ve built and are excited to partner with GI Partners as we embark on this next chapter of growth,” added Bob Arnesen, co-founder and president of eClinical. “GI’s track record in scaling biopharmaceutical technology businesses and their deep understanding of our market will ensure we can execute our strategy of reliably delivering value to our clients and partners."

“Raj, Bob and their team have built an exceptional business and an industry-leading platform empowering faster, informed decision-making in clinical trials,” said Dave Kreter, managing director at GI Partners. “As data management and analytics needs within life sciences have continued to evolve, it has become apparent that trial digitization is critical for successful therapeutic and patient outcomes. We feel eClinical is well positioned for long-term growth by continuing to drive biopharma innovation for the customers they serve.”

Summit Partners, an investor in eClinical since 2020, will continue to hold a minority position in the company. eClinical’s founders will also retain a significant equity stake alongside GI Partners.

“We’ve been honored to be a part of the eClinical growth story over the last several years, as the company has scaled both in size and impact,” said Mark deLaar, a managing director at Summit Partners. “It’s a pleasure to welcome GI Partners, and we look forward to working together to support the company’s continued development of innovative solutions that empower eClinical customers worldwide.”

Guggenheim Securities, LLC served as exclusive financial advisor to eClinical Solutions. Morse, Barnes-Brown & Pendleton, and Choate Hall & Stewart LLP served as legal counsel to eClinical Solutions. Leerink Partners and J.P. Morgan served as financial advisors and Ropes & Gray LLP served as legal advisors to GI Partners.

The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions and regulatory approvals.

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About eClinical Solutions LLC
eClinical Solutions’ industry-leading data & analytics platform, elluminate®, and biometrics services experts help biopharma researchers at large, mid-size, and emerging life sciences organizations manage trial complexity in less time and with fewer resources. Clients get accurate and timely data insights for better decision-making – enabling them to reduce cycle times, improve productivity, easily scale, and develop tomorrow’s breakthroughs with today’s resources. eClinical is a privately-held, purpose-driven company with a global workforce and winner of the 2024 Top Workplaces USA and Culture Excellence Awards and Great Place To Work® India Certification™. Learn more at www.eclinicalsol.com and follow eClinical Solutions on LinkedIn.

About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 170 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than $43 billion in capital and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity strategy invests primarily in companies in the healthcare, services, and software sectors. The real estate strategy focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure strategy invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.

Miami, FL – Halborn, a leader in blockchain solutions, today announced Jacques Boschung has been named Chief Executive Officer. Mr. Boschung succeeds co-founder Rob Behnke, who will transition to the role of Executive Chairman and President. In this new role, Mr. Behnke will continue to support Halborn as the company navigates new opportunities and challenges in the rapidly evolving digital asset landscape. Co-founder Steven Walbroehl will stay on as CTO, leading Halborn's service delivery and innovation while ensuring technical leadership continuity.

Mr. Boschung brings extensive experience in leading large technology organizations through periods of significant growth. Most recently, he served as CEO of Kudelski Security, a cybersecurity service provider where he led the expansion of the company on both sides of the Atlantic. Previously, Mr. Boschung was President and General Manager of Inovalon Payer, a portfolio of cloud-based SaaS solutions serving the U.S. health insurance industry. Earlier in his career, he held several leadership roles at Dell Technologies, where he spent 14 years, including Senior Vice President responsible for Dell Technologies Global Alliances and for the Telco partnerships within the EMEA regions.

"I am thrilled to join Halborn at such a pivotal moment in the company's journey," said Mr. Boschung. "Halborn is focused on enabling the next digital transformation of financial services, which is more relevant than ever, as the company positions itself to be a key facilitator of DLT integration in the industry. We aim to deliver exceptional value to our clients, helping them transform their operations and seize new market opportunities in the digital age."

This leadership expansion builds on Halborn’s momentum and positions the company for further growth. Since raising its $90 million Series A funding round in July 2022, Halborn has enabled hundreds of top blockchain initiatives to succeed in the market. Under Mr. Behnke’s leadership, Halborn has grown profitably since inception, securing notable clients such as Solana Foundation, Circle, BNY Mellon, and other Fortune 100 financial services companies.

“It has been an honor to lead and build Halborn, together with our team, over the last five years,” said Mr. Behnke. “As Halborn’s customers continue to shift towards enterprise adoption of Digital Ledger Technology and AI, we believe we hold an enviable and unique position in the market. We couldn't be more excited about the future of Halborn.”

"We are thrilled to welcome Jacques as Halborn's next CEO and look forward to working closely with him as the company continues to pursue its ambitious goals," said Matt Hamilton, a Managing Director at Summit Partners and member of the Halborn Board of Directors. "We are grateful for Rob’s service, vision, and leadership, and we look forward to his continued guidance as he transitions to the role of Executive Chairman."

About Halborn
Halborn is a leader in blockchain solutions, founded in 2019 by renowned ethical hacker Steven Walbroehl and serial entrepreneur Rob Behnke, dedicated to enabling the next digital transformation of financial services. Halborn collaborates with fortune 500’s and leading Web3 organizations, offering comprehensive solutions that empower the integration of distributed ledger technology, positioning them to thrive in the digital age.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please visit www.summitpartners.com or follow on LinkedIn.

Summit Partners was named to GrowthCap’s list of the Top Private Equity Firms of 2024. In evaluating each firm, GrowthCap focused on the qualities that help a firm to consistently and repeatedly create value for the portfolio companies they invest in. Specifically, they evaluated each firm’s firm leadership, the composition of the overall organization, functional capabilities, unique competitive advantages, and investment judgement, among other factors

For over 40 years, the Summit team has focused on partnering with and powering the growth of great people and great companies. We are grateful for the partnership of the visionary CEOs, dedicated teams and the dynamic companies we have the privilege to support.

To view the full list visit of winners, visit GrowthCap's website.

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^{Awardee selections are based on GrowthCap’s evaluation of each firm’s leadership, the composition of the overall organization, functional capabilities, unique competitive advantages, and investment judgement since the inception of the firm, among other factors. Information on firms was received through GrowthCap’s online submissions portal, nomination forms, direct communications as well as through our additional research. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on August 20, 2024.}

Combined portfolio expands global supply chain execution solutions, delivering increased flexibility, scalability and resiliency to customers.

HAMBURG, Germany, MINNEAPOLIS and CARY, N.C. –  Körber Supply Chain Software, a joint venture between Körber AG and KKR, and leader in end-to-end supply chain software solutions, signed a binding agreement to acquire MercuryGate International Inc., a leading provider of transportation management systems (TMS). MercuryGate is known for its strong capabilities in multimodal optimization and execution, as well as its expertise and capabilities in driving rapid implementation and time to value. The acquisition is a strategic move that extends Körber Supply Chain Software's capabilities in delivering a comprehensive, innovative, adaptable and scalable supply chain execution portfolio. Summit Partners invested in MercuryGate in 2018.

The complexities of global supply chains continue to grow, and the need for flexibility and resiliency has never been greater. Operators demand ever-increasing adaptability and scalability in supply chain execution solutions to innovate and expand. By extending its portfolio of solutions across all supply chain execution operations, Körber Supply Chain Software will become a leader in managing the movement of goods from procurement to receipt and fulfillment to the end consumer, reducing planning silos, accelerating resolution of issues, and improving customer and business outcomes. Bringing Körber Supply Chain Software and MercuryGate together will enable customers to benefit from:

• Solutions that connect across inbound and outbound supply chain activities, improving cost efficiencies and customer experiences by optimizing placement, usage, and routing of goods.
• A resilient and reliable supply chain platform with visibility across inventory pools, enabling customers to identify growth opportunities as well as predict and rapidly respond to potential disruptions.
• Simulation capabilities to evaluate future supply chain strategies and understand ROI across their local and global business.

"Our customers navigate dynamic, volatile supply chain environments under increasingly high expectations for order fulfillment," said Ed Auriemma, CEO of Körber Supply Chain Software. "With the acquisition of MercuryGate, Körber Supply Chain Software is poised to offer an unparalleled combination of advanced technology and deep industry expertise to create innovative processes to help businesses manage these challenges."

The acquisition of MercuryGate will establish a critical pillar of Körber's ambition to create a unified supply chain execution suite that can offer real-time optimization and collaboration across the supply chain. Customers will benefit from integrated processes across functions, faster and more accurate decision-making and the ability to mitigate risks and disruptions more effectively.

Stephan Seifert, Chief Executive Officer of Körber, said: "This acquisition illustrates our power to execute our ambitious growth strategy, substantially extends our existing supply chain software portfolio, and is a significant milestone to becoming our customers' first choice regardless of their challenge. Furthermore, it is proof, that our trustful strategic cooperation with KKR results in additional value for our customers."

"The addition of MercuryGate's multimodal, SaaS-based TMS to Körber's supply chain software business will create a comprehensive, value-driving, supply chain offering for global industry leaders," commented Joe Juliano, CEO of MercuryGate. "The combined company is positioned to deliver the broadest and deepest set of supply chain execution software solutions available worldwide."

Peter Rottier, a Managing Director at Summit Partners, which first partnered with MercuryGate in 2018, added, "We believed that global supply chains and growing customer demand for shorter order-to-delivery times would support increased adoption of solutions like MercuryGate's that are designed to help shippers and logistics providers mitigate the costs and complexity associated with transportation. It's been exciting to work alongside the MercuryGate team as they executed against this vision."

The transaction is subject to customary closing conditions and regulatory approvals.

For more details about this acquisition, please visit Körber Supply Chain Software's blog.

Source: MercuryGate

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About Körber Supply Chain Software
Körber Supply Chain Software is the partner of choice for organizations that require comprehensive and intelligent supply chain execution software solutions that can adapt and scale to their requirements. Körber Supply Chain Software delivers comprehensive solutions for its customers, offering greater efficiency and transparency from order management through global end-to-end inventory flow within the most complex global supply chain operations. Körber Supply Chain Software GmbH is a joint venture of Körber AG, a leading international technology group and KKR, a leading global investment firm that offers alternative asset management, capital markets and insurance solutions. Find out more on https://www.koerber-supplychain-software.com/.

About Körber
We are Körber – an international technology group with more than 12,000 employees at over 100 locations worldwide and a common goal: We turn entrepreneurial thinking into customer success and shape the technological change. In the Business Areas Digital, Pharma, Supply Chain, and Technologies, we offer products, solutions and services that inspire. We act fast to customer needs, we execute ideas seamlessly, and with our innovations we create added value for our customers. In doing so, we are increasingly building on ecosystems that solve the challenges of today and tomorrow. Körber AG is the holding company of the Körber Group: http://www.koerber.com/en

About MercuryGate
MercuryGate's Smart Transportation™ suite provides powerful transportation and logistics management solutions proven to be a competitive advantage for today's most successful shippers, 3PLs, brokers, and carriers. The comprehensive Software-as-a-Service (SaaS) product suite natively supports all transportation modes and segments, generating value for its users through improved cost, productivity, and efficiency using artificial intelligence (AI), machine learning (ML), and connected technologies to adapt and automate transportation management functions. Smart Transportation makes shipping intelligent, simple, sustainable, and transformative for customers. Learn more about MercuryGate at https://mercurygate.com/.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at https://www.globalatlantic.com/.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please visit www.summitpartners.com or follow on LinkedIn.

London – Global growth equity investor Summit Partners is delighted to welcome Dr. David Krajicek to the firm’s Executive-in-Residence (“EIR”) program. In this role, Dr. Krajicek will work closely with Summit’s Growth Products & Services team to identify new investment opportunities and advise growth-stage companies within the data and analytics sector.

Dr. Krajicek is an experienced operator who has built and led data and analytics companies for more than 25 years. Most recently, he served as CEO of JATO, an automotive data company, where he led meaningful value creation initiatives centered around technology enhancement, new product launches and improved go-to-market. Dr. Krajicek joined JATO following a 14-year tenure with GfK, a global market research and analytics company where he held several executive roles, leading teams of several thousand people and managing a nearly $1 billion P&L. In 2017, GfK was acquired in a take-private transaction valued at $1.5 billion. As part of GfK’s global management board, Dr. Krajicek was named CEO of the company’s research division, leading it through its transformation and sale to Ipsos. Prior to GfK, Dr. Krajicek spent nearly a decade at ARBOR, a U.S.-based data-led market research firm. During his tenure at ARBOR, the business underwent transformative growth, scaling 30-fold and ultimately resulting in an acquisition by GfK. Dr. Krajicek holds a BA in cognitive psychology from UC San Diego and an MA and PhD in cognitive psychology from Claremont Graduate University.

“We are confident that David’s deep understanding of data and analytics companies and his extensive operating experience will both serve to support Summit’s efforts in identifying and partnering with leading growth companies in this dynamic sector,” said Chris Bon, Principal at Summit Partners. “We are thrilled to welcome David to our EIR program, and we look forward to sharing his skillset and experience with the entrepreneurs and executives with whom we partner.”

“Summit's commitment to driving growth in the data and analytics sector aligns well with my passion for fostering innovation and success in this space,” said Dr. Krajicek. “I look forward to contributing to the firm’s ongoing efforts and helping growth-stage companies achieve their full potential."

With a focus on investing in category-leading growth businesses across key sectors, Summit has partnered with numerous data and analytics companies, providing support on product and technology initiatives, geographic expansion and other strategic initiatives to help drive meaningful growth.

Summit’s EIR program is an established element of the firm’s growth-oriented investing strategy. Since its inception, the program has facilitated collaboration between seasoned industry executives and Summit’s investment professionals, working to identify sector-specific opportunities in which EIRs may support companies in an ongoing capacity through board or executive leadership roles.

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About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see summitpartners.com or follow on LinkedIn.

Investment led by Summit Partners and Silversmith Capital supports company's mission to redefine financial services for healthcare professionals‍

New York, NY -- Earned Wealth ("Earned"), a tech-enabled financial services firm focused exclusively on the needs of medical professionals, today announced a $200 million capital commitment led by growth equity investors Summit Partners and Silversmith Capital Partners with participation from existing investors Juxtapose, Hudson Structured Capital Management, and Breyer Capital. The capital will support expansion of the company’s platform and offerings through product innovation and strategic acquisitions. In conjunction with the investment, Earned announced the acquisition of Thomas Doll, a leading provider of financial services to medical professionals and practices. Today, Earned serves more than 3,000 clients, with over $2 billion in assets under management.

Earned’s mission is to redefine financial services for healthcare professionals through creating the first tech-enabled, integrated personal financial management platform offering wealth, tax, career advisory, insurance, and other services designed for the complex needs of doctors. Using a medical professional’s career journey as a lens, Earned combines deep prognostic technology with a comprehensive set of financial services provided by fiduciary advisors who deeply understand the unique challenges doctors face. With an exclusive focus on medical professionals, Earned advisors are well equipped to guide decisions ranging from medical school loan repayment schedules and private practice buy-ins to medical group malpractice insurance coverage and optimal tax strategies during a practice sale. Earned’s evidence-based approach can proactively and continuously help optimize financial decision-making across nearly every aspect of their clients’ financial lives.

“From the beginning, we’ve been firmly focused on building the premier go-to destination for doctors who are seeking to optimize their financial well-being, delivering tailored solutions and services that allow them to focus on what they do best,” said John Clendening, Founder and CEO of Earned. “Today’s announcement represents a critical step on our journey to further transform financial outcomes for these heroes of our society. With the addition of Thomas Doll, we broaden our capabilities and expand into serving medical practices, a key lever of income and wealth for many of our clients. With the support of Summit and Silversmith, and the benefit of their deep experience in the healthcare and financial services sectors, we are positioned to accelerate our M&A strategy, drive growth, further invest in our technology and team and solidify Earned’s industry leadership position.”

“Doctors face distinct — and often complex — financial circumstances and opportunities throughout their careers, from residency through retirement. The Earned platform is purpose-built to provide holistic solutions to help optimize for the needs of healthcare professionals,” said Darren Black, a Managing Director at Summit Partners who has joined Earned’s Board of Directors. “We are excited by the scalability of the Earned platform and the team’s comprehensive, evidenced-based approach. John and his team bring an impressive combination of client-centricity, expertise, and execution, and we look forward to supporting Earned in their growth and expansion nationwide.”  

“Medical professionals have long been underserved by today’s highly fragmented wealth management industry. With a singular focus on the needs of healthcare professionals, Earned has quickly become one of the most trusted financial services organizations serving doctors,” said Jeff Crisan, a Managing Partner at Silversmith, who has also joined the Earned Board of Directors. “The acquisition of Thomas Doll extends the offerings of the Earned platform even further, adding in-house tax planning and retirement programs for doctors. We look forward to working with John and his team as they continue to both build and acquire leading financial solutions to serve our healthcare industry.”

The Thomas Doll acquisition will help accelerate the combined company’s growth and expand the breadth of financial services offerings. Thomas Doll clients will benefit from Earned’s comprehensive wealth management approach, trusted fiduciary advisors, and proprietary tech platform.

“Thomas Doll checks all our boxes in terms of the kinds of firms we are seeking to acquire: a strong focus on healthcare professionals, terrific client service, a desire to accelerate growth, and complete alignment on vision and mission. I’m excited to welcome Thomas Doll’s clients, employees, and leadership to the Earned family,” said Clendening. “I have great respect for the organization that Thomas Doll has built over the past sixty years, and I am confident that our shared values and complementary services will help unlock a new chapter of growth together.”

“Together, we share a commitment to serving the needs of healthcare professionals and a belief that a broad range of tailored services will help us improve their overall financial health,” said Barry Oliver, a Senior Advisor with Thomas Doll. “I am personally thrilled about this partnership, and I am confident that our future together is bright.”

Thomas Doll has re-branded to Thomas Doll, An Earned Wealth Company. Clients can continue to access Thomas Doll’s services via the Thomas Doll website www.thomasdoll.com. Prospective clients can access services from both companies via the Earned website www.earnedwealth.com.

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About Earned Wealth
Earned Wealth is the first comprehensive, tech-enabled financial services firm exclusively for healthcare professionals and medical practices. The company uses a doctor's unique career journey — from residency to buying into private practice to retirement — as a lens for the company's data-driven recommendations. Earned's centralized, tech-forward approach maximizes doctors' wealth cohesively and seamlessly, helping doctors earn more, invest smarter, and reduce risk. Because Earned understands the ins and outs of a doctor's career, clients benefit from specially trained Certified Financial Planners™ and technology that plans and adjusts for changes throughout a doctor's working life. Earned also provides medical practice solutions including tax, accounting, payroll, retirement plan solutions.  Earned Wealth is a brand name under Earned Wealth Holdings. Wealth management services are offered through Earned, an investment adviser registered with the Securities and Exchange Commission. To learn more about Earned, visit www.earnedwealth.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology, and other growth industries, including financial technology & services and business services. Notable Summit investments in healthcare and financial services include ABILITY Network, Focus Financial Partners, InnovaCare, LifeStance Health, Paradigm Outcomes and RWA Wealth Partners. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.

About Silversmith Capital
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $3.3 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative healthcare investments include Iodine Software, LifeStance Health, Market Access Transformation, MediQuant, Nordic Consulting, Panalgo and Upperline Health. For more information, including a full list of portfolio investments, visit www.silversmith.com or follow the firm on LinkedIn.

About Thomas Doll
Thomas Doll provides physicians and dentists with full-circle financial care, including wealth management, retirement planning, tax planning and consulting services, including payroll expertise, practice creation, succession consulting, and personal consulting. Through integrated financial planning, Thomas Doll helps healthcare professionals enjoy long-term success in business and in life. The Walnut Creek, California-based firm, was founded in 1963 and provides wealth management services through an investment adviser registered with the Securities and Exchange Commission .  For more information about Thomas Doll, please visit www.thomasdoll.com.

Lausanne, Switzerland – Revizto, a leader in collaboration solutions for the Architecture, Engineering, Construction and Operation (AECO) industry, today announced a minority investment from global growth equity investor Summit Partners. The partnership, which comes in the form of a secondary investment, will focus on supporting Revizto’s team expansion, product development, and continued global growth.  

Revizto launched its software in 2012 with a vision to transform the AECO industry by providing an unparalleled Integrated Collaboration Platform designed to help customers effortlessly turn every project into reality. The company delivers a user-friendly, cloud-based platform purpose-built to enable architects, engineers, contractors and owners to collaborate in a 3D and 2D environment. The platform is designed to be accessible to all project team members, regardless of their technical skills or location – whether in-office, on-site, or on any device. By providing a single source of truth for construction collaboration, Revizto empowers project stakeholders to speed up project delivery, reduce rework, and cut costs. Today, Revizto serves over 260,000 users across more than 2,500 customers worldwide, including leading global firms such as AECOM, Jacobs, McCarthy Building Companies, Mortenson, Consigli, John Holland, Lendlease, Arup, and Red Sea Global.

“I am thrilled to announce that Summit Partners has joined us in our mission of revolutionizing collaboration by empowering project teams to build better together,” said Arman Gukasyan, Founder and CEO of Revizto. “In Summit, we have found a partner who shares our commitment and excitement for digitizing the AECO industry, as well as an alignment with our team’s DNA and people-centric company culture. While we didn’t need funding, we are confident that this partnership will help propel Revizto forward, providing perspective and resources that will allow us to accelerate development and market expansion, while maintaining a focus on delivering high-quality user-centric solutions.”

This partnership comes at a time of strong momentum, growth and innovation for Revizto. The company’s latest product releases – including the launch of their groundbreaking Phone App and built-in Clash Automation, Augmented Reality (AR), and QR code generation functionality – underscore Revizto’s commitment to deliver leading technological advancements in the AECO sector. These innovations are designed to enhance user experience and project outcomes by enabling real-time collaboration and decision-making. Additionally, Revizto was recently honored with Switzerland’s Best Managed Companies award, recognizing the company’s overall business performance and management practices, further validating its dedication to excellence in the industry.

“As the number and complexity of construction and infrastructure projects increases globally, we believe the AECO industry is ripe for digitalization. With an innovative platform – differentiated by its use of gaming technology, mobile accessibility and user-centric features – Revizto has seen enthusiastic user adoption across 80,000 projects worldwide, driving impressive, profitable growth for the past several years,” said Antony Clavel, a Managing Director with Summit Partners who has joined the Revizto Board of Directors. “We truly believe Revizto is becoming the industry standard among the largest and most respected construction and engineering firms around the world, and we are excited to be a part of the company's future as they continue to deliver solutions needed to push the industry forward.”

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About Revizto
Revizto, a Swiss-based company, launched coordination software for the Architecture, Engineering, Construction & Operation (AECO) industry in 2012 and quickly became the fastest-growing Integrated Collaboration Platform. Using gaming technology and cloud solutions, Revizto provides a collaboration platform for 3D and 2D workflows that enables users to work and communicate with all project stakeholders in a unified single environment. The platform is utilized globally for real-time coordination, automated clash detection, and issue tracking throughout the lifecycle of a building or infrastructure project.

Revizto empowers teams to drive accountability, improve timelines and maximize cost-savings by connecting contributors from across platforms, model types and teams, from in-office, on-site, and any device. As a result, thousands of firms around the world are using Revizto to make better decisions and minimize rework.

For more information about Revizto, please visit www.revizto.com or follow on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please visit www.summitpartners.com or follow on LinkedIn.

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We are pleased to announce that Medical Review Institute of America ("MRIoA" or the "Company"), a leading provider of outsourced utilization management and clinical review solutions to payers, has received a strategic growth investment from Parthenon Capital. As part of the transaction, MRIoA management and existing investor Summit Partners will both retain significant equity ownership in the business.

MRIoA is a leading provider of tech-enabled clinical review services for healthcare organizations designed to help patients receive the right care at the right time and in the right place. The Company provides independent clinical and utilization reviews, evidence-based clinical opinions and appropriate utilization analytics for many of the largest health plans, pharmacy benefit managers, third party administrators, government entities and self-insured employers in the United States.

Summit Partners invested in MRIoA in 2017 and has provided active support as the Company executed on several key growth initiatives over the course of our partnership. Today – with one of the largest, most extensive review networks and industry-leading turnaround times – MRIoA completes 1.9 million clinical reviews each year, helping clients to streamline decisions with data-driven insights and navigate a dynamic healthcare system.

MRIoA is a leader in what we view as a critically important market, and we believe the Company is well positioned for further growth. We look forward to partnering with Parthenon Capital to support MRIoA’s continued impact, improving the value equation and serving constituents across the U.S. healthcare system.

BOSTON –– Global growth equity investor Summit Partners is delighted to welcome Morgan Buehler Zanotti to the firm’s Executive-in-Residence (“EIR”) program. In this role, Morgan will work closely with Summit’s Growth Products & Services team to identify new investment opportunities and advise growth-stage companies within the functional foods and health and wellness sectors.

Discover Morgan's insights on leadership and innovation in her recent interview with Nosh.

Morgan brings more than a decade of experience building, leading and supporting brands in the functional food and beverage categories. In 2014, Morgan co-founded Primal Kitchen, a bootstrapped, better-for-you condiment and supplement brand that has grown to offer more than 70 products sold across 16,000 retail outlets. As President, Morgan helped drive robust growth resulting in a sale to Kraft Heinz. Post-acquisition, Morgan transitioned to a senior executive role at Kraft Heinz, serving as divisional president of Primal Kitchen for four years. Here, she focused on scaling Primal Kitchen into new categories and channels, with the company nearly quadrupling retail sales and meaningfully increasing household penetration. Morgan was subsequently named Kraft’s Vice President of New Ventures, where she spearheaded corporate development and M&A strategy in the health and wellness category.

Prior to Primal Kitchen, Morgan led the marketing efforts at KeVita, a pioneering Kombucha brand, which was later acquired by Pepsi in 2016. Morgan launched her focus on the consumer foods industry at Culver Brand Design where she worked with numerous marquee brands including Stacy’s Pita Chips, Tostitos, Lays, Cheetos, Ruffles, Cracker Jack, Pepsi and Taco Bell.

“Our team was drawn to Morgan’s diverse set of experiences in the functional foods category, from scaling rapidly growing, bootstrapped businesses to strategic executive roles at a Fortune 500 company. Morgan brings a distinct skill set, network and perspective that we believe will benefit growth companies in an important and expanding area of the health and wellness sector,” said Julianne Hummelberg, a Vice President at Summit Partners. “We enthusiastically welcome Morgan as an EIR, and we look forward to working with her in supporting other entrepreneurs and executives in the category.”

“The impact of food on health and wellness has long been a passion of mine,” said Morgan. “I am impressed by the proactive approach the Summit team takes to supporting growth-stage companies and look forward to working alongside the Summit team to identify, support and scale breakout brands that help people live healthier, more active lives.”

Summit has been active in the consumer and healthcare sectors for nearly four decades. Since the firm’s founding in 1984, Summit has partnered with more than 80 consumer companies.

Summit’s EIR program is an established element of the firm’s growth-oriented investing strategy. Since its inception, the program has facilitated collaboration between seasoned industry executives and Summit’s investment professionals, working to identify sector-specific opportunities in which EIRs may support companies in an ongoing capacity through board or executive leadership roles.

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About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. A complete list of Summit investments can be found here. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see summitpartners.com or follow on LinkedIn.

Summit’s Sophia Popova was named to GrowthCap's list of “Top Women Leaders in Growth Investing of 2024.” Awardees were selected based on demonstrated success in leadership roles, breadth of experience and longevity in the field among other factors.  

Sophia Popova is a Partner on our Technology Team. She joined the firm in 2017 as a Vice President and was promoted to Partner in January 2023. Over the course of her tenure, Sophia has partnered with leading growth companies and talented executives across several technology subsectors including cybersecurity, marketing technology and HR software. She has played an active role in eight Summit investments, representing more than $1.6 billion in invested capital. Her current board and investment experience includes Invicti Security, Klaviyo (2023 IPO, NYSE: KVYO), Later (formerly Mavrck), Vensure Employer Services (formerly PrismHR), Sifted, StackAdapt and Ylopo.

Read more about Sophia and her fellow honorees at GrowthCap.

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^{Award selections were based on the evaluation of the nominees career through demonstrated success in leadership roles, breadth of experience and longevity in the field, among other factors.  Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direction communication with portfolio company executives and/or others in the industry.}

^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners.  Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on June 18, 2024.}

Global growth equity firm partners with Celcoin to support its continued expansion and commitment to expanding financial access for Brazilian consumers

São Paulo, Brazil - Celcoin, a leading company in the Banking as a Service (BaaS) financial technology market, today announced a US$125 million investment led by global growth equity investor Summit Partners. Summit has a long history of partnering with market-leading fintech companies, including EngageSmart (NYSE: ESMT), Corpay (NYSE: CPAY) and Calypso Technology. Existing investor Innova Capital is also participating in the round, along with experienced financial technology executive John Coughlin, a former senior executive with Corpay. The new funding will support Celcoin’s expansion plans as the company works to continue delivering new and innovative products to strengthen its leadership position in the BaaS and embedded finance market.

Founded in 2016, Celcoin provides financial infrastructure services and solutions for banks, fintechs, and enterprise companies. Focused in three key verticals – payments, banking, and lending – Celcoin’s offerings are designed to enable personalized embedded finance solutions for companies across any segment and stage of development. With over 400 customers in the financial industry and more than 5,000 non-financial companies, Celcoin combines market-leading technology, product innovation, and best-in-class security to support customers in building financial offerings that serve the needs of their end-consumers.

Brazilian financial technology is among the most advanced in the world. In recent years, the Central Bank of Brazil has introduced groundbreaking innovations, including the instant payment system Pix, which was launched in October 2020. Pix transaction volume skyrocketed from zero to 5 billion monthly transactions in just four years. In 2021, the Central Bank introduced Open Banking, and over 22 million customers have already consented to share their data between participating financial institutions. Celcoin has become the leading provider of Open Banking solutions for licensed institutions.

“Celcoin's technology allows banks, fintechs and non-financial companies to introduce their own financial products and embed financial services directly into their ecosystems. We see this as the future of the financial sector, and we are excited to be part of this transformation,” says Celcoin CEO, Marcelo França. “With this funding, we plan to accelerate our investments in technology and innovation as well as evaluate both organic and M&A-driven growth opportunities.”

“Over the last several years, we’ve worked to identify technology companies that we believe are supporting economic development in Brazil through financial empowerment of the Brazilian consumer,” commented Alberto Reyes, an investor with Summit Partners. “We believe we have found such a company in Celcoin, and we are confident that our investment will continue to bolster this mission.”

This financing comes at a time of strong momentum for Celcoin, with the company recording US$63 million in annual recurring revenue in the first quarter of 2024 – a 140% increase compared to the same period last year. Celcoin processes over 200 million Pix transactions monthly, underscoring the robustness and reliability of their platform. In addition to the ongoing development of in-house products, Celcoin has successfully completed four strategic acquisitions since 2022: Galax Pay, specializing in billing and sub-acquiring solutions; Flow Finance, which provides credit infrastructure; Finansystech, a leading Open Finance startup; and most recently, Reg+, a regtech solution dedicated to supporting regulatory compliance.

“It is truly a privilege to partner with the impressive team at Celcoin during this phase of exciting innovation and expansion,” said John Coughlin, an Executive-in-Residence at Summit Partners who will join the Celcoin Board of Directors. “We have been impressed by the scalability of their platform and speed of new product innovation. We look forward to supporting Celcoin as the company continues to expand in Brazil and throughout Latin America.”

Christopher J. Dean, a Managing Director at Summit Partners, and angel investor Michael Esrubilsky will join Coughlin on the company’s Board.

Innova Capital, which invested in Celcoin’s two most recent funding rounds, also participated in this financing. “Celcoin provides a technological infrastructure that allows its clients to take advantage of some of the greatest tailwinds in the payments landscape in Brazil, such as bancarization, emergence of instant payment methods, and Banking as a Service. We are excited to continue to support the Celcoin team, and work alongside Summit Partners and the other shareholders,” said Marcel Vitor Santos, Managing Director of Innova Capital and Celcoin Board Member.

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About Celcoin
Celcoin was founded in 2016 as a Banking as a Service technology provider for business customers. Celcoin provides banking, credit and payments solutions and has more than 6,000 business customers connected to its platform. Celcoin is a B Corp certified company with a distinct focus on building products that make a significant social impact by expanding financial access for all Brazilian consumers. Find out more: https://www.celcoin.com.br/

About Summit Partners
Founded in 1984, Summit Partners is a growth-focused investor that seeks to establish partnerships with category-leading businesses and executives, providing the capital and resources to accelerate their growth. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, financial services and other growth industries. A complete list of Summit investments can be found here. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please visit summitpartners.com or follow on LinkedIn.

• CluePoints is a cloud-based software platform for Risk-Based Quality Management (“RBQM”) and data quality oversight in clinical trials, designed to enable safer and more efficient processes and improving data integrity and risk compliance
• As scientific breakthroughs and advancements in technology and data are accelerating healthcare innovation, the markets for RBQM and Integrated Data Review software are expected to experience strong growth
• In this highly thematic investment at the intersection of pharma, software and AI, EQT will apply its expertise investing in healthcare and throughout the tech value-chain to help CluePoints cement its leading global position
• Summit Partners, an investor in CluePoints since 2020, and Clinimetrics SA, a co-founder of CluePoints, will retain minority stakes with participation in this funding round
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CluePoints today announced that the EQT Healthcare Growth Strategy and the EQT Growth Fund have agreed to acquire a majority stake in CluePoints (the “Company”), with meaningful reinvestment from the management team and existing shareholders Summit Partners and Clinimetrics SA, which was also a co-founder of the Company.

Founded in 2012 and headquartered in Belgium, CluePoints is a premier software provider for RBQM and data quality oversight in clinical trials. Applying advanced statistics and machine learning, and harnessing over 10 years of clinical trials knowledge, CluePoints’ proprietary algorithms help drive positive outcomes for pharmaceutical and biotech companies, contract research organizations and other customers. The Company offers an end-to-end value proposition from initial risk identification to ongoing tracking and monitoring of issues and discrepancies throughout the drug development process. With more than 9,500 platform users, CluePoints has helped de-risk more than 1,600 studies and has detected over 142,000 issues for its customers, which include many of the top 20 largest pharma companies.

CluePoints received a growth investment from Summit Partners in 2020, and over the course of the last several years, the Company has generated significant growth, building a robust go-to-market function, launching new products and diversifying into new markets.

This new investment comes at a time when CluePoints is seeing accelerating growth, underpinned by increasing adoption of RBQM software across virtually all clinical trial phases. The industry is experiencing momentum due to growing research & development spend, increasing data complexity in clinical trials and a focus on patient safety and data quality driven partly by regulatory scrutiny.

Investing in CluePoints is aligned with the objectives of EQT Healthcare Growth to support companies with their mission to deliver positive healthcare outcomes, and of EQT Growth to invest in the next generation of technology leaders. EQT will apply its 30-year track record of investing in healthcare, experience of investing in software and AI, its in-house digital team and global network of Industrial Advisors to help CluePoints cement its leading global position in RBQM and data analytics for clinical trials.

Andy Cooper, CEO of CluePoints, said: “We are delighted that EQT has chosen to partner with CluePoints. EQT is a market-leading investor in both SaaS (Software as a Service) and medical research industries. This combination makes EQT an ideal partner for CluePoints which is a market leader for SaaS-based clinical data analytics. We are grateful for Summit’s active support over the last four years. Their depth of industry knowledge and operational resources have been instrumental in our growth trajectory. Both EQT and Summit share our passion for and commitment to leveraging innovative advanced statistics and machine learning solutions to eliminate manual, error-prone activities in the clinical trial process.”

Dr Mark Braganza, Partner in the EQT Healthcare Growth Advisory Team, commented: “We are excited to be partnering with CluePoints and its dynamic leadership team to help it scale and reach its full potential. The Company’s ambition is a perfect match with ours to help enable the development of medical research to deliver more effective, efficient and accessible healthcare.”

Kirk Lepke, Partner in the EQT Growth Advisory Team, said: “CluePoints is a prime example of how data, machine-learning and AI can be leveraged to improve real world outcomes – in this case pharmaceutical drug development. The entire EQT platform is behind this investment and ready to support the Company with its continued expansion in RBQM and into growing, adjacent markets.”

Thomas Tarnowski, a Managing Director at Summit Partners, said: “We’ve been proud to work alongside the entire CluePoints team during a period of meaningful growth and expansion, supporting the acceleration of product development efforts and entry into new markets.” Jono Pagden, a Principal at Summit, continued: “We are excited to continue our support of the Company and to partner with management and EQT during this next phase of growth.”

CluePoints and Summit Partners were advised by Jefferies International (M&A), White & Case (legal),Deloitte (financial, tax) and LEK (commercial).

The transaction is subject to customary conditions and approvals. It is expected to close in Q3 2024.

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About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. CluePoints is leveraging the potential of artificial intelligence using advanced statistics and machine learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM. More info: www.cluepoints.com

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.com Follow EQT on LinkedIn, X, YouTube and Instagram.

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_{The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Healthcare Growth will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.}

Direct mail market leader announces first major equity transaction and plans to build out owned channel marketing platform

GREENVILLE, S.C. — PostPilot, the fastest-growing direct-mail marketing company in the U.S., today announced a strategic investment from global growth equity firm Summit Partners, with participation from Klaviyo founders Andrew Bialecki and Ed Hallen. The funding will be used to accelerate hiring, further expand internationally and continue development of PostPilot’s proprietary direct mail targeting and execution capabilities.

“PostPilot has helped thousands of ecommerce and omnichannel brands across nearly every category unlock the power of direct mail,” said co-CEO Drew Sanocki, who founded the company with co-CEO Michael Epstein in 2018. “This strategic investment allows us to innovate even faster and accelerate our mission to help brands grow at a time of increasing online competition and consumer privacy. We’ve proven that direct mail works, and we’re building on that success every day.”

PostPilot believes that brands must leverage a mix of marketing channels to drive revenue and build strong customer relationships. By facilitating thoughtful, personalized customer communication, PostPilot helps enable brands to market at scale, unimpeded by ad networks and other intermediaries. Powered by an innovative, data-driven direct mail platform, PostPilot campaigns target the full customer funnel, from retention to retargeting to prospecting, offering AI-powered targeting features designed to enhance customer interactions and boost campaign performance.

Top brands—including ecommerce leaders Dr. Squatch, Hexclad, and Good American—rely on PostPilot to help drive sales, acquire higher lifetime value customers and diversify their marketing.

“At a time when media mix diversity is increasingly critical, PostPilot has built a leading self-serve programmatic direct mail platform used by brands and agencies around the world to help acquire and retain customers,” said Melanie Whelan, a Managing Director with Summit Partners and former CEO of SoulCycle.

“We have been particularly impressed by Drew and Michael’s deep understanding of the customer and their ability to develop innovative solutions designed to address the challenges that omnichannel and digitally native brands face today. We first learned of PostPilot following enthusiastic reviews from several consumer companies, and we look forward to partnering with this impressive team during this next phase of growth,” added Julianne Hummelberg, Vice President with Summit Partners who has joined the PostPilot board of directors.

PostPilot has native integrations with the ecommerce solutions DTC brands use most. The company’s frictionless interface lets brands of all sizes leverage their existing customer data across Shopify, Klaviyo, Attentive, Recharge and other key platforms.

Andrew Bialecki, founder and CEO of Klaviyo, added: “Ed and I have watched PostPilot grow from afar. Like Klaviyo, they are fanatical about helping B2C businesses transform data at scale into smarter, personalized experiences. We are excited to back a company that shares our mission to help brands succeed through deeper customer relationships built across every interaction.”

This funding – the company’s first major equity transaction -- comes at a time of strong momentum and expansion for PostPilot. Over the last year, the company opened new production facilities in the U.S. and U.K. and has launched several innovative products – including SiteMatch for website retargeting, ShopDrops to support in-store retail sales and lookalike audiences for prospecting. In addition, PostPilot was named to the 2023 Inc. 5000 list of the fastest growing companies in the U.S.

PostPilot has remained profitable even as the company has continued its rapid growth trajectory, generating revenue growth of over 200% in 2023 alone.

“Summit Partners has a long history of partnering with category-leading companies, including Klaviyo and Brooklinen,” said Michael Epstein, founder and co-CEO of PostPilot. “The Summit team has a deep understanding of the PostPilot technology and the opportunity ahead, and we are thrilled to work together to unlock new growth channels for consumer brands around the world.”

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AboutPostPilot
PostPilot is the fastest-growing direct-mail marketing company in the U.S. according to the 2023 Inc. 5000 ranking. Created by omnichannel marketers for omnichannel marketers, PostPilot makes it easy for brands to acquire and retain customers with smart, AI-driven postcard and catalog campaigns. For more information, please visit postpilot.com or follow on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. A complete list of Summit investments can be found here. For more information, please see summitpartners.com or follow on LinkedIn.

Summit Partners leads investment to accelerate company’s international expansion and support continued product leadership in the OMS category
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TOULOUSE, FRANCE and LONDON, UK – OneStock SAS, a leading provider of Order Management Systems (OMS), today announced a $72 million investment from global growth equity investor Summit Partners.

OneStock was founded in 2015 by CEO, Romulus Grigoras, and CTO, Benoit Baccot, to help retailers and brands navigate the increasing complexity of the omnichannel landscape and enhance overall customer experience. The company’s cloud-native solution provides a centralised platform designed to manage end-to-end order fulfillment and visibility and empower retailers to offer a seamless ‘buy anywhere, deliver anywhere, return anywhere’ experience to customers.

"Since the beginning, OneStock has been dedicated to creating smarter and more sustainable shopping experiences, and our partnership with Summit marks a thrilling new chapter in our journey, reaffirming our long-term commitment to innovation and growth in the retail technology space,” commented Mr. Grigoras. “With Summit's support and the benefit of their deep experience in the retail technology sector, we're poised to accelerate our growth even further. Our clear ambition is to emerge as the number one global leader in the OMS category.”

Offering a highly compelling customer ROI and a feature-rich, user-centric solution, OneStock has experienced robust, profitable growth in recent years, achieving a 2.5-fold increase in recurring revenue since 2021. The company has seen widespread adoption amongst major enterprise customers across diverse verticals, ranging from luxury goods to car parts, pet food to furniture, and from traditional B2C retailers to franchiser networks and B2B commerce. Today, more than 100 international retailers and brands across 25 countries leverage OneStock, with the platform facilitating over €2.5 billion in orders annually. OneStock customers include Yves Rocher, WHSmith, Intersport, ManoMano, and S.Oliver.

“With the proliferation of online and offline sales channels and consumers’ ever-increasing expectations for instant product availability and fulfillment, we believe a modern OMS has become a critical part of the retail supply chain. In our view, OneStock has developed the most intuitive, scalable and differentiated cloud-native OMS solutions, purpose-built to help brands and retailers to plan better, grow faster, sell more and waste less,” comments Steffan Peyer, a Managing Director at Summit Partners who will join the OneStock Board of Directors.

This new funding will be used to fuel OneStock’s continued international expansion, particularly into the U.S. market, and to help accelerate the company’s vision for a retail landscape where order management is seamless and easy. OneStock is a proud Adobe Gold Partner, one of the select few MACH-certified OMS providers in the MACH Alliance, and the first OMS with an official integration with Shopify. The company aims to become the easiest-to-integrate OMS in the market by expanding its partner relationships, by extending the comprehensive range of integrations offered in the OneStock Extensions Portal and by soon opening its platform to external agencies and customers seeking to develop additional extensions for particular use cases and verticals. In addition, the company plans to accelerate product development in a number of areas, including B2B, AI and circular economy initiatives.

“OneStock is known in the retail market for having an impressive track record of innovation, including what we believe are pioneering features such as gamification as part of its Ship from Store product, its advanced Business Intelligence Suite, and one of the most sophisticated Delivery Promise solutions in the industry,” said Nik Ohri, a Vice President at Summit Partners who will also join the OneStock Board of Directors.

“We are thrilled to partner with this highly experienced team, and we look forward to working with Romulus and Benoit to help accelerate their vision and expand the reach of OneStock’s impact globally.”

Mr. Grigoras added: “I want to extend my heartfelt thanks to the entire OneStock team and all of our partners and customers, whose hard work and collaboration have been instrumental in helping OneStock achieve this fantastic milestone. We remain committed to supporting the success of our customers as we continue to shape the future of retail!”

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About OneStock
OneStock is Europe’s market-leading distributed order management system provider. We help retailers unlock their full omnichannel potential and power some of the world’s most convenient shopping experiences. Our cloud-native SaaS solution improves operational efficiency, increases online revenue and enhances customer experience.

A single view of inventory across all stock locations enables our clients to maximise sales opportunities, enhance fulfilment options, optimise order orchestration, create new omnichannel capabilities, seamlessly manage returns and analyse business performance. OneStock is a proud member of the MACH Alliance and provides best-of-breed solutions for many brands, including: Pets at Home, Jigsaw, Hackett, The Perfume Shop, Dune and Moss. For more information, visit onestock-retail.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Notable investments in the retail technology and marketing technology sectors include RELEX, Akeneo, Klaviyo, Optimove, Later and Mi9 Retail. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Summit’s Ross Stern was named to GrowthCap's list of “Top 25 Healthcare Investors of 2024.” Awardees were selected based on their demonstrated expertise across a variety of healthcare subsectors as well as their strategic and operational contributions to the companies with whom they partner.  

Ross Stern is a Managing Director at Summit Partners and a member of the firm’s Healthcare & Life Sciences team. Ross joined Summit in 2009, and over the course of the last fifteen years, he has invested in and partnered with numerous high-growth companies and talented executives across the healthcare landscape. He has built deep expertise across the healthcare services and life sciences sectors and is an active, engaged board member at several Summit portfolio companies. His board and investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), DMG Practice Management Solutions (acquired by Ares Management), Fortis Life Sciences, Hallmark Health Care Solutions, My Dentist (acquired by Heartland Dental), Paradigm Outcomes, PharmScript, Sound Physicians, TurningPoint Healthcare Solutions, U.S. Renal Care and VaxCare.

Read more about Ross and his fellow honorees at GrowthCap.

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^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s career through demonstrated expertise investing in healthcare, as well as the unique strategic and/or operational value they provide to the companies they invest in. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direct communication with portfolio company executives and/or others in the industry.}

^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap's website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on May 1, 2024.}

San Antonio, TX – LumaBridge, a clinical research organization (CRO) dedicated to discovering, developing, and testing emerging biotechnologies related to cancer therapies, today announced the appointment of Todd Lehman as Chief Executive Officer, President and member of the Board of Directors.  

Todd joined LumaBridge in April 2023 to head the company’s business development organization, and he quickly made a significant impact as a member of the executive team in driving business growth and process improvements. He brings over 20 years of clinical operations and commercial experience across multiple therapeutic areas, with a particular emphasis on oncology and ophthalmology. Prior to joining LumaBridge, Todd held various leadership roles in operations and portfolio management with a focus on the biotech customer at PPD, a Thermo Fisher Scientific company. Todd began his career in clinical research at Rx Development Resources, the CRO division of Sirion Therapeutics. Todd holds an M.S. in biomedical engineering and a B.S. in chemical engineering, from the University of South Florida.

“Since joining LumaBridge last year, Todd's contributions have been invaluable, and I am confident that he will be an effective leader for our next phase of growth,” said Dr. George Peoples, LumaBridge Founder and Executive Chairman of the Board of Directors. “He brings a wealth of experience that benefits both sponsors and patients, and I look forward to collaborating with Todd as we continue to scale our clinical trial capabilities.”

“It's been an honor to be a part of the LumaBridge team during such an exciting stage of the company’s growth,” said Todd Lehman. “I am inspired by our customers’ ongoing efforts to bring innovative solutions to oncology patients, and I look forward to continue working with the team to further advance our capabilities and services as customer demands evolve.”

About LumaBridge
‍LumaBridge is a specialty clinical research organization (CRO) focused on creating innovative clinical trial solutions for biopharma companies. Founded in 2014 as Cancer Insight, the company offers customized clinical trial guidance, strategic partnership, and personalized attention to each sponsor, accelerating the development of potential therapies.

LumaBridge builds on the success and experience of a seasoned team, led by Dr. George Peoples, to support drug development, accelerating therapies to patients and guiding biopharma companies through clinical and regulatory pathways. As part of their comprehensive CRO services, LumaBridge offers consultation on trial design and clinical development strategy.

For more information, visit lumabridge.com.

Partnership to advance GRESB’s continued leadership in global ESG benchmarking to support transition to sustainable real assets

Existing shareholder Summit Partners to retain minority stake in GRESB

New York, NY and Amsterdam, Netherlands – GRESB, a leading global provider of sustainability standards and benchmarks for real assets, today announced a majority investment from General Atlantic, a leading global growth equity firm, through the firm’s BeyondNetZero climate growth fund. General Atlantic will acquire its stake from existing shareholder Summit Partners, which will retain a minority position in GRESB following close of the transaction. GRESB intends to partner with General Atlantic to support its next phase of growth through strategic expansion and product innovation and to accelerate impact across financial markets.

Founded in 2009, GRESB provides sustainability standards, benchmarks, and actionable insights for real assets. General Atlantic’s majority investment and partnership are a testament to the alignment of vision and shared values between the two organizations. With this investment, GRESB will remain an independent Benefit Corporation, expanding its support to a global community of real asset investors, managers, and partners. The affiliated not-for-profit GRESB Foundation will continue to provide industry-led strategic direction and governance over the GRESB Standards. The GRESB management team will reinvest into the company and continue its ongoing work driving GRESB’s growth and impact. General Atlantic’s investment aims to allow GRESB to expand its work on transition finance, fixed income, the REAL Solutions family of services, and more.

Sebastien Roussotte, Chief Executive Officer, GRESB, commented, “GRESB looks forward to contributing to BeyondNetZero’s vision for climate action powered by technology, innovation, and entrepreneurship. This vision underpins GRESB’s industry-led approach to creating global standards that increase market transparency and accelerate the clean energy transition.”

Rhea Hamilton, Managing Director at General Atlantic’s BeyondNetZero, said, “GRESB has established itself as the industry standard for benchmarking across real assets. With buildings and real estate accounting for 40 percent of global greenhouse emissions, data is key to unlocking the opportunity to deliver net-zero, resilient assets. We believe GRESB’s management of asset-level data and compelling value proposition deepen the Company’s position as an enabler of decarbonization for investors and asset managers. We share GRESB’s conviction in accelerating the global transition to sustainable real assets and look forward to partnering with the Company’s mission-driven team.”

Tom Hussey, Principal at General Atlantic, continued, “GRESB delivers standardization and comparability across the real assets ecosystem, encouraging all participants to measure and improve ESG credentials. We believe that the Company is backed by long-term tailwinds as decarbonization and ESG benchmarking become core metrics for LP portfolios. We intend to leverage General Atlantic’s expertise at the intersection of innovative data, technology, and climate solutions to support GRESB in its continued expansion and product development.”

“We have been proud to work alongside Sebastien and the entire GRESB team to support the company’s significant growth and expansion over the last four years,” said Johannes Grefe, Managing Director at Summit Partners. “We believe GRESB’s commitment to providing industry leading ESG data and benchmarking solutions will continue to play a pivotal role in driving sustainable investment practices worldwide,” added Chris Bon, Principal at Summit Partners.

GRESB benchmarks and insights are generated from data self-reported through annual assessments for standing real estate investments, real estate projects in development, infrastructure funds, and infrastructure assets ­– both operational and in various stages of development. Each year, GRESB publishes global aggregated benchmark data that highlights the state and continued progress of ESG in the industry. The GRESB Standards, upon which its benchmarks are based, evolve over time based on input from industry representatives who sit on and work with the GRESB Foundation. This ensures that assessments are guided by what investors and the industry consider to be material issues and that scores reflect evolving sustainability expectations.

Through its assessments, benchmarks, and related products, GRESB enables investors to make more informed decisions; empowers companies, managers, and asset operators to improve their sustainability rating through ESG insights and best practices; and encourages the wider real assets industry to embrace and promote ESG transparency and collective action.

The transaction is subject to regulatory approvals. Moelis & Company served as financial advisor to Summit Partners, and Milbank served as legal advisor. Weil Gotshal and De Brauw acted as legal advisors to General Atlantic.
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About GRESB
GRESB is a mission-driven, industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading benchmark for sustainable real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making. The annual GRESB benchmarks include more than 2,000 real estate portfolios and funds as well as more than 170 infrastructure funds and nearly 700 infrastructure assets, collectively representing USD 8.8 trillion in gross asset value.

About General Atlantic and BeyondNetZero
General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. BeyondNetZero is the climate growth fund of General Atlantic that invests in growth companies delivering innovative climate solutions that have the potential to meet and exceed net-zero emissions targets, with a focus on decarbonization, energy efficiency, resource conservation and emissions management. General Atlantic has approximately $83 billion in assets under management inclusive of all products as of December 31, 2023, and more than 280 investment professionals. For more information on General Atlantic, please visit: www.generalatlantic.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.

The leading Influencer Marketing and Social Media Management Company also announces Appiah’s new role as head of influencer engagement.

BOSTON, MASS. - Later, a social media management and influencer marketing leader, launches Beyond Influence, a podcast designed for creators and influencers, marketers, and social media enthusiasts. Hosted by Kwame Appiah and Later CEO Scott Sutton, the podcast aims to remove barriers to a successful creator career; provide a roadmap for meaningful relationships between brands, consumers, and creators; and unpack the experience from the top creators, influencers and brand voices who know the industry best. The first episode airs on Tuesday, April 16.

“We saw a pervasive gap in how influencer marketing is often discussed versus its meaningful contributions to awareness, revenue, and community-building,” said Sutton. “Through the conversations, we have on Beyond Influence, we want to change the narrative around influencers and creators and elevate discussions about the creator ecosystem to benefit everyone - brands, consumers, creators, and influencers.”

Joining Sutton on the podcast is well-known creator Kwame Appiah, newly named head of influencer and creator engagement at Later. Appiah is a long-time creator on TikTok and Instagram and previously held roles of increasing responsibility in business development at companies including Common Room, Builder.io, and ZoomInfo. Appiah rose to prominence on the Netflix show, Love Is Blind.

“Kwame brings unique experience to our team,” continued Sutton. “His technology acumen and business background combined with experience building and monetizing an audience make him the ideal person to lead influencer engagement at Later. In this role, Kwame will be a bridge between content creators and brands to help achieve our goals toward richer, deeper partnerships.”

The first episode airs on Tuesday, April 16, 2024, and will feature a conversation between Scott and Kwame. Episodes will be released every two weeks, and future shows will include guests such as Tessa Barton, Marshall Glaze, Chelsea Griffin, Carla Marie and Jason Tartick, among others.

“We are in a time when everyone with a phone can be a creator,” said Appiah. “Additionally, more and more generations are leveraging platforms to earn an income and the creator economy is not slowing down. A leading financial services company predicted the creator economy would be valued at more than $70 billion in 2024 and some studies anticipate marketers will spend nearly $6 billion on influencer marketing this year. We want to increase opportunities for current and potential creators and influencers to collaborate and learn alongside brands through meaningful conversations. Beyond Influence is just the start.”

Watch the Beyond Influence trailer on Apple Podcasts, Spotify or wherever you listen to your favorite podcasts.

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About Later
Later is a leading social and influencer marketing solution and link in bio tool. With over eight million users and enterprise clients, Later helps marketers create high-performing social content and collaborate with creators to reach new audiences, drive engagement, and generate predictable ROI across all major social platforms. Visit the Later Newsroom for shareable assets, logos, and more.

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Source: Later

Denver, CO — Netgain, a leading software provider for finance and accounting teams, today announced a $35 million minority investment led by global growth investor Summit Partners. The funding will be used to fuel product development, team expansion and support Netgain’s overall commitment to helping accountants gain time back in their day by automating routine tasks.

Netgain was founded in 2018 with a mission to modernize the Office of the CFO. The company’s founders, Nathan Smart and Adam Riches, began their careers as auditors, controllers and finance managers, experiencing firsthand the technical and time-consuming challenges that accounting and finance professionals face.  

Netgain’s NetSuite-native software solutions help to simplify and automate key accounting processes, including those related to lease accounting, fixed asset management, advanced revenue recognition, month -end close, loan management and improved financial workflow—all without requiring the user to leave their system of record.

“From our earliest days, we’ve been on a mission to build enjoyable, intuitive and complete accounting and finance solutions that simplify, standardize and automate a company’s key financial processes—exactly where these processes belong—natively within their NetSuite ERP ,” said Nathan Smart, President and Co-founder of Netgain. “Rather than manually manipulating and reconciling against external systems and spreadsheets, accountants can now confidently rely on financial data from a single source of truth, enabling more focus on driving enterprise value with improved analysis and insights.”

The accounting industry is facing a significant talent exit, with declining enrollments at accounting programs and a record number of retirements. This workforce shortage further exacerbates the widespread experience of burnout for accounting and finance teams that are managing long working hours and increasing regulatory oversite with dated technology. Netgain helps address these challenges with solutions designed to not only save time for accounting teams, but also deliver transparency and visibility into the financial situation of the business so accounting and finance teams can drive impactful business decisions.

"We believe there’s significant opportunity for innovation in the Office of the CFO. Today, many accounting and finance teams are still working with multiple tools and brute-forcing solutions in spreadsheets—drastically limiting the efficiency and effectiveness of these teams. Our investment in Netgain underscores our confidence in the company’s ability to deliver modern, integrated solutions that will help the Office of the CFO undergo efficient technological transformation and drive economic growth for their organizations," stated Greg Goldfarb, a Managing Director at Summit Partners who has joined the company’s Board of Directors.

“Netgain has experienced impressive growth over the last several years—growing annualized recurring revenue by 80 percent from 2022 to 2023 and new customer logos by 400 percent in the past 24 months. Netgain now has over 1,600 customers with high retention. We look forward to working with Nathan, Adam, and the entire team to continue building on this momentum,” added Goldfarb.

This funding announcement comes on the heels of the news that Netgain has acquired SuperSync, SCS Cloud’s NetSuite application business, in order to better serve the needs of finance and accounting professionals in need of greater integrations and fulfillment capabilities.

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About Netgain
Netgain is transforming the accounting practices of companies around the world. With each passing quarter, we continue to develop and enhance tools that not only meet the evolving needs of the finance sector but also set new standards for operational excellence to streamline lease accounting, fixed asset management, loan management, closing the books and more within NetSuite. Learn more at netgain.tech or follow us on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.

BOSTON, MA; MENLO PARK, CA; NEW YORK, NY; and LONDON, UK – Summit Partners, a leading alternative investment firm, today announced the promotion of three professionals and the addition of one new Principal across the firm’s global offices. Yoon Lee has been promoted to Partner, and Hanyin Cheng and Cody Lee have been promoted to Principal. In addition, Ryan McDonald has joined the firm’s Healthcare & Life Sciences team as a Principal.

“We are very pleased to recognize the performance of these three colleagues with well-earned promotions,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “Each of these colleagues represent well the culture and values of our firm, and has demonstrated incredible commitment to our portfolio companies and our limited partners. Our firm is defined by our strategy, team and culture. We continue to invest in the professional growth of our team and the addition of outstanding new talent to improve the execution of our strategy.”

Yoon Lee has been promoted to Partner. Yoon joined Summit’s London office as the Director of Investor Relations in 2017 and was promoted to the Head of International Investor Relations in 2020. Prior to Summit, Yoon worked at MVision Private Equity Advisers and Citi Investment Banking. Yoon holds a BA in French literature and political science, magna cum laude, from Ewha Women’s University, Seoul, an MA in translation methodology from Ecole Supérieure d’Interprètes et de Traducteurs in Paris and an MSc in management from Hautes Etudes Commerciales (HEC) Paris.

Hanyin Cheng has been promoted to Principal. Hanyin joined Summit’s Boston office as an Associate in 2014 and is a member of the Technology team. His investment experience includes Fuze (acquired by 8x8), Keeper Security, QAD, Redzone (acquired by QAD), StackAdapt and Vensure Employer Services (formerly PrismHR). Prior to Summit, Hanyin worked on the Technology, Media and Telecommunications Group at UBS Investment Bank. Hanyin holds a BA in computer science and economics from Boston College and an MBA from Harvard Business School.

Cody Lee has been promoted to Principal. Cody joined Summit’s Menlo Park office as a Vice President in 2019. As a member of Summit’s Peak Performance Group, Cody works with management teams to help identify and execute growth strategies designed to build long-term value. Most frequently, he collaborates with portfolio companies to help them develop and optimize their marketing programs. Prior to Summit, Cody was a partner at Lever & Dial, an investment and advisory firm dedicated to helping growth companies scale with world-class marketing. Previously, he was Head of Digital Marketing at an integrated creative agency and production company, and he was a foundational member of the paid advertising team at Software Advice (acquired by Gartner). Cody holds a BA, summa cum laude, in English and creative writing from The George Washington University.

In addition, Ryan McDonald joins the firm as a Principal on the Healthcare & Life Sciences team. Ryan is based in Menlo Park and was previously with Norwest Venture Partners, where he spent more than a decade investing in high-growth healthcare technology and services companies. Earlier in his career, Ryan held roles in the leveraged finance groups at both Bank of America and Stifel Nicolaus and served as the President and co-founder of a dietary supplement company. Ryan holds a BS in business management, with a concentration in economics, from Babson College.

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About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

BOSTON, MA; MENLO PARK, CA; NEW YORK, NY; and LONDON, UK – Summit Partners, a leading alternative investment firm, today announced the promotion of three professionals and the addition of one new Principal across the firm’s global offices. Yoon Lee has been promoted to Partner, and Hanyin Cheng and Cody Lee have been promoted to Principal. In addition, Ryan McDonald has joined the firm’s Healthcare & Life Sciences team as a Principal.

“We are very pleased to recognize the performance of these three colleagues with well-earned promotions,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “Each of these colleagues represent well the culture and values of our firm, and has demonstrated incredible commitment to our portfolio companies and our limited partners. Our firm is defined by our strategy, team and culture. We continue to invest in the professional growth of our team and the addition of outstanding new talent to improve the execution of our strategy.”

Yoon Lee has been promoted to Partner. Yoon joined Summit’s London office as the Director of Investor Relations in 2017 and was promoted to the Head of International Investor Relations in 2020. Prior to Summit, Yoon worked at MVision Private Equity Advisers and Citi Investment Banking. Yoon holds a BA in French literature and political science, magna cum laude, from Ewha Women’s University, Seoul, an MA in translation methodology from Ecole Supérieure d’Interprètes et de Traducteurs in Paris and an MSc in management from Hautes Etudes Commerciales (HEC) Paris.

Hanyin Cheng has been promoted to Principal. Hanyin joined Summit’s Boston office as an Associate in 2014 and is a member of the Technology team. His investment experience includes Fuze (acquired by 8x8), Keeper Security, QAD, Redzone (acquired by QAD), StackAdapt and Vensure Employer Services (formerly PrismHR). Prior to Summit, Hanyin worked on the Technology, Media and Telecommunications Group at UBS Investment Bank. Hanyin holds a BA in computer science and economics from Boston College and an MBA from Harvard Business School.

Cody Lee has been promoted to Principal. Cody joined Summit’s Menlo Park office as a Vice President in 2019. As a member of Summit’s Peak Performance Group, Cody works with management teams to help identify and execute growth strategies designed to build long-term value. Most frequently, he collaborates with portfolio companies to help them develop and optimize their marketing programs. Prior to Summit, Cody was a partner at Lever & Dial, an investment and advisory firm dedicated to helping growth companies scale with world-class marketing. Previously, he was Head of Digital Marketing at an integrated creative agency and production company, and he was a foundational member of the paid advertising team at Software Advice (acquired by Gartner). Cody holds a BA, summa cum laude, in English and creative writing from The George Washington University.

In addition, Ryan McDonald joins the firm as a Principal on the Healthcare & Life Sciences team. Ryan is based in Menlo Park and was previously with Norwest Venture Partners, where he spent more than a decade investing in high-growth healthcare technology and services companies. Earlier in his career, Ryan held roles in the leveraged finance groups at both Bank of America and Stifel Nicolaus and served as the President and co-founder of a dietary supplement company. Ryan holds a BS in business management, with a concentration in economics, from Babson College.

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About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Denver, CO — Netgain, a leader in providing NetSuite-native modern accounting solutions, has officially announced the acquisition of SuperSync, SCS Cloud's NetSuite applications business. This partnership enables Netgain to provide a unique breadth of support to the office of the CFO, helping finance and accounting professionals to streamline processes, consolidate technology and save valuable time.

SuperSync is a provider of innovative cloud synchronization solutions designed to streamline data management and enhance productivity for NetSuite users. The SuperSync suite of products stands out for its affordability and effectiveness in solving niche NetSuite challenges. SuperSync applications include NetSuite integrations for e-commerce, 3PL and fulfillment, CRM platforms, and Outlook — as well as procurement, punchout and approvals.

This strategic technology acquisition allows Netgain to accelerate its vision of empowering accounting and finance professionals to reclaim the hours they are spending in Excel and brute-forcing solutions, and instead reallocate that time to focus on strategic initiatives that make a positive business impact.

Adam Riches, CEO and co-founder of Netgain emphasized the significance of this partnership in reshaping the landscape of accounting, "Netgain's acquisition of SuperSync marks a critical step in our mission to modernize the accounting industry, bringing ease and efficiency to everyday tasks. We are transforming business processes into reliable, accurate automated solutions so accountants can have confidence in the numbers and eliminate second-guessing and errors that stem from manual processes."

Thiago Batista, IT Director at Gorjana, a SuperSync customer noted, "Before SyperSync for Shopify by SCS Cloud, we were struggling to keep up with our inventory synchronization, and our financial reconciliation was a nightmare. With over 127,000 SKUs, we needed something more robust than our current provider could offer. SyperSync revolutionized our process by syncing every 2 hours, ensuring our inventory was always current. Thanks to SuperSync, we resolved a massive reconciliation issue from a $4M deposit, seamlessly matching every transaction in NetSuite. And the cost savings? Extraordinary!"

"Together, Netgain and SuperSync operate with a shared vision to provide unparalleled expertise and support for the CFO's office, enabling businesses to thrive in an increasingly complex financial landscape," remarked Derek Hitchman, founder and CEO of SCS Cloud. Following Netgain's acquisition of the SuperSync application product line, SCS Cloud will continue providing its award-winning implementation and consulting services for its customers.

To learn more about how Netgain is modernizing accounting within NetSuite by streamlining complex processes through automations and technology integrations, visit netgain.tech.

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About Netgain
Netgain is transforming the accounting practices of companies around the world. With each passing quarter, we continue to develop and enhance tools that not only meet the evolving needs of the finance sector but also set new standards for operational excellence to streamline lease accounting, fixed asset management, loan management, closing the books and more within NetSuite.

Trusted by the best and brightest, join companies such as PWC, Deloitte, EY, Goodwill and Reddit in this financial revolution where efficiency, accuracy, and strategic foresight converge to create a brighter future for accountants everywhere. Learn more at netgain.tech or follow us on LinkedIn.

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About SuperSync
SuperSync offers innovative cloud synchronization solutions to streamline data management and enhance productivity for NetSuite. With a focus on reliability, security, and user-friendly interfaces, SuperSync empowers businesses to effortlessly sync and consolidate dozens of data sources to a single, accurate view within NetSuite. Learn more at supersync.cloud.

This announcement is directed at accounting professionals and finance executives who stand to benefit most from this groundbreaking merger in the cloud accounting space.

Source: Netgain

Portsmouth, NH – Insurcomm, Inc. (“the Company” or “Insurcomm”), a rapidly growing provider of commercial and residential restoration services, today announced a majority growth investment from Summit Partners. Summit’s investment will support Insurcomm’s national expansion strategy as the Company continues its mission to deliver the highest quality service to commercial clients, residential customers, and municipalities navigating property loss events.

Insurcomm stands as one of the fastest-growing restoration services providers in the United States, propelled by a unique operating model and supported by a winning culture. The Company offers a comprehensive range of property damage restoration services, including fire and water damage cleanup, mold remediation, asbestos and biohazard removal, as well as reconstruction services to customers nationally. Serving as a single point of contact, Insurcomm supports its clients every step of the way through the complexities of property loss.  

“When disaster strikes, our mission is to serve our clients with a deep sense of professionalism and dignity, ensuring timely and end-to-end solutions,” said Doug Indelicato, CEO of Insurcomm. “Partnering with Summit will help Insurcomm enter a new and expanded era of growth, allowing us to scale our impact and drive value for property owners and insurers. Together, we aim to set new standards in the restoration market, with a focus on partnering with like-minded operators who share our mission, and further cementing Insurcomm’s position as an industry leader."

Summit’s investment comes at a time of strategic inflection for Insurcomm, as the Company seeks to scale its team, expand its operations, and acquire other providers who share a culture of excellence. Insurcomm has experienced accelerated growth over the past five years through the expansion of its geographic coverage and securing General Services Administration (GSA) Multiple Award Schedule (MAS) status for emergency response for all federal government agencies. Insurcomm has extensive experience across thousands of loss events, ranging from day-to-day emergency responses to major catastrophic events. The Insurcomm team has built deep and trusted relationships with property owners and insurers, fueling strong growth in market share.

“Against the backdrop of a highly fragmented restoration market with secular tailwinds, Insurcomm has developed an impressive delivery model that has helped the Company to grow rapidly and profitably,” said Matt Hamilton, a Managing Director at Summit Partners who has joined the Company’s Board of Directors. “We are thrilled to join forces with Doug and the entire Insurcomm team and to support the Company’s expansion plan.”

“We believe Insurcomm’s strong organic growth is a testament to the culture of excellence that the Company has created and their commitment to serving all stakeholders in property loss events,” added Andy Lee, Vice President at Summit Partners who has also joined the Company’s Board of Directors.

Harris Williams served as financial advisor to Summit Partners, and Latham & Watkins served as legal advisor.

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About Insurcomm, Inc.
With a strong entrepreneurial spirit, Insurcomm was created in 1996 by founder Neil Robbins. Headquartered in Portsmouth, NH, Insurcomm started with two employees to provide construction services for insurance-related losses. Today, Insurcomm has almost 100 employees and provides end-to-end solutions for insurance-related property losses. In addition to servicing day-to-day emergencies, Insurcomm also has a National Large Loss team, which responds to complicated large loss projects throughout the U.S. For more information, please see www.insurcomm.com or Follow on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Summit Partners was named to GrowthCap’s list of the Top Growth Equity Firms of 2023. This year’s list is comprised of 40 firms representing various market segments and sectors. GrowthCap evaluated each firm’s unique capabilities, sector expertise, investment judgment, demonstrated value creation, senior partner composition, talent retention, firm evolution, and firm momentum, among other attributes.

For nearly 40 years, the Summit team has focused on partnering with and powering the growth of great people and great companies. We are grateful for the partnership of the visionary CEOs, dedicated teams and the dynamic companies we have the privilege to support.

To view the full list visit of winners, visit www.growthcapadvisory.com.

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^{‍Awardee selections are based on GrowthCap’s evaluation of each firm’s unique capabilities, sector expertise, investment judgment, demonstrated value creation, senior partner composition, talent retention, firm evolution, and firm momentum, among other attributes. Information on firms was received through GrowthCap’s online submissions portal, nomination forms, direct communications as well as through our additional research. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. The  list of the Top Growth Equity Firms of 2023, published by GrowthCap on February 28, 2024, was based on the time period January 2022 through January 2024. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

BluWave, the Business Builders’ Network that connects the private equity industry with specialized service providers, independent consultants and executive talent, today announced Summit Partners as a 2024 Top PE Innovator Award winner*.

BluWave’s third annual Top Private Equity Innovator Awards recognize the top 2% of private equity firms that differentially embrace proactive due diligence, value creation, modern private equity firm operations and corporate citizenship practices.

The Top Private Equity Innovator awardees were selected by a cross-functional committee that assessed candidates in consultation with a broad universe of limited partners, investment bankers, industry thought leaders and service providers in the private equity ecosystem. As part of their selection process, the committee evaluated more than 5,000 private equity firms and utilized more than 75 different factors, incorporating more than 400,000 data points.

The Top Private Equity Innovator Awards are distinctive in that they involve no financial obligations from any participants and the selection process is independent of any customer relationships. For further information on the BluWave 2024 Top Private Equity Innovator Awards, including the selection process, selection criteria and recipients, please visit bluwave.net/awards.

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About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. The Summit Partners’ strategy is grounded in a foundational believe that profitable growth is the most reliable path to building a durable business and creating long-term value. For four decades, the Summit team has focused on partnering with and powering the growth of great people and great companies. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world.

About BluWave
BluWave is the Business Builders’ Network for private equity-grade service provider needs. The company’s platform combines AI, technology and data with concierge-like consultative support to expertly connect businesses with proven providers across due diligence, value creation and prep for sale. The BluWave Vetted™ network is an invite-only ecosystem of top-tier service-providing groups and individuals. Based in Nashville, Tenn., BluWave ranks as one of America’s fastest-growing companies and today serves hundreds of leading private equity firms and their thousands of portfolio companies.

Visit BluWave.net to learn more.

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*BluWave, LP has not received investment capital from and holds no ownership interest in the PE firms evaluated or recognized under the PE Innovator awards program. BluWave received no compensation from any of the PE firms in connection with this awards program. BluWave, however, may otherwise provide services to the PE firms and/or portfolio companies, but BluWave confirms that its assessment of the PE firms was independent of any such service arrangements. Top 2% in the PE industry is based on BluWave’s review of the more than 5,000 PE firms in the U.S. and Canada, from which the 82 private equity firms were selected as award recipients.

Award selections are determined based on BluWave, LP’s evaluation of each nominee’s due diligence, value creation, firm operations and corporate citizenship practices. To view the full list of honorees and read more about the selection methodology, visit BluWave’s website.  Summit Partners did not have a role in the nomination/submission process for this award. This award is the opinion of the party conferring the award and not of Summit Partners. There can be no assurance that other providers or surveys would reach the same conclusion as the foregoing.

Summit Partners is delighted to welcome Bob Thornton as the newest addition to the firm’s Executive-in-Residence (“EIR”) program. In this role, Bob will work closely with Summit’s Growth Products & Services team to identify new investment opportunities with a specific focus on building a comprehensive wealth management platform in collaboration with leading wirehouse teams serving the high-net-worth customer.

For more on Bob’s background and this partnership with Summit, please listen to his conversation with the Diamond Podcast for Financial Advisors here.

Previously, Bob served as President of the Private Wealth Management business of First Republic Bank, where he led the growth of that business from approximately $10 billion in assets to more than $250 billion.  In his role with First Republic, Bob placed a premium on supporting the investment advisor as “wealth manager” to meet clients’ full wealth management needs. Along with his team, Bob developed a series of high-value programs including integrated planning resources, a white glove insurance product and an internal referral construct that contributed to significant growth in the client and asset base of the wealth managers at First Republic. During his tenure, he and his colleagues were able to recruit over 150 high caliber financial advisors from across the industry.

Prior to joining First Republic, Bob had a successful twenty-year career in investment banking, principally focused on mergers & acquisitions and financings. He began his career at Goldman Sachs, followed by leadership roles at both Credit Suisse and Deutsche Bank.

Bob holds a B.A. in Political Science from Duke University and a J.D. from Columbia Law School.

Summit has been active in the payments, financial technology and business services sectors for nearly four decades. Since the firm’s founding in 1984, Summit has partnered with more than 125 companies across the financial technology and services, and business and information services sectors.

Summit’s EIR program is an established element of the firm’s growth-oriented investing strategy. Since its inception, the program has facilitated collaboration between seasoned industry executives and Summit’s investment professionals, working to identify sector-specific opportunities in which EIRs may support companies in an ongoing capacity through board or executive leadership roles.

For more on Bob’s background and this partnership with Summit, please listen to his conversation with the Diamond Podcast for Financial Advisors here.

Enables seamless data compliance and on-demand data access to support critical secondary use cases

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MINNEAPOLIS, MN - Perforce Software (“Perforce”), a provider of solutions to enterprise teams requiring productivity, visibility, and scale along the development lifecycle that is backed by Francisco Partners and Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), announced today that it has signed a definitive agreement to acquire Delphix (or the “Company”). Delphix’s industry-leading Data Management software platform enables scalable automation, governance, and compliance of enterprise data throughout the application lifecycle. Financial terms of the transaction were not disclosed.

“The addition of Delphix to our portfolio adds critical data management capabilities that help enterprise organizations realize an automated and accelerated DevOps pipeline,” said Jim Cassens, CEO of Perforce. “In addition to data automation and compliance, we are also excited to provide our customers with the operational efficiencies and reduced costs afforded by the Delphix platform through lower storage expenditures and footprint. We look forward to working with the Delphix team to continue delivering data management innovation to our customers.”

Many enterprise organizations today consider data to be one of their most important assets. The ability to harness, mine and analyze data generated daily is critical to making thoughtful decisions and creating competitive advantages. Delphix supports customers as they look to scale data usage for analytics and testing purposes, while releasing applications up to 200% faster. The Company’s capabilities in data virtualization and data masking allow organizations to more easily spin up, refresh, and tear down private and public cloud-based data environments, enhancing application delivery pipelines.

“We founded Delphix over 15 years ago to help companies automate data and accelerate digital transformation. Today, we enable data governance, compliance, and automation across the multicloud for many of the world’s biggest brands,” said Jedidiah Yueh, CEO of Delphix. “As part of Perforce, we will be positioned to continue innovating and help more customers realize the strategic power of our data platform.”

The addition of Delphix builds on Perforce’s existing infrastructure automation offering through acceleration of on-demand delivery, self-service test environments, and continuous testing offerings to deliver Shift Left testing with accurate, compliant, and timely test data. With this acquisition,  Perforce continues to demonstrate its commitment to provide  customers with scaled DevOps solutions that help solve the world’s largest enterprises’ automation challenges.

“This strategic acquisition positions Perforce to harness the growing demand for enterprise- scale data management in testing, AI modeling, and analytics,” said Evan Daar, Partner at Francisco Partners, and Sean Courtney, Senior Vice President at Clearlake. “The addition of Delphix further enhances the capabilities Perforce can offer to its valued customers, and we look forward to catalyzing this opportunity to drive continued momentum for the platform.”

The acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2024. Centerview Partners acted as exclusive financial adviser to Delphix in connection with the transaction.


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About Delphix
Delphix is a leading vendor of test data management software. Delphix’s solutions allow companies to automate data security measures, rapidly deploy test data to developers, and shorten application development cycles. More than 30% of the Fortune 100 companies have transformed their application development with Delphix. To learn more about Delphix and its product offering, visit www.delphix.com

About Perforce
Perforce powers innovation at scale. Perforce solutions future-proof competitive advantage by driving quality, security, compliance, collaboration, and speed – across the technology lifecycle. We bring deep domain and vertical expertise to every customer, so nothing stands in the way of success. Privately held and funded by Clearlake and Francisco Partners, our global footprint spans more than 80 countries and includes over 75% of the Fortune 100. Perforce is trusted by the world’s leading brands to deliver solutions to even the toughest challenges. Accelerate technology delivery, with no shortcuts. Get the Power of Perforce.

About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch nearly 25 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $75 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, and Singapore. More information is available at www.clearlake.com

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Source: Perforce Software

Newly formed company looks to close significant gaps in intermediate mental health care services across the Southern half of the United States.

DALLAS — Connections Wellness Group (CWG), a growing provider of behavioral and mental health services in Dallas/Fort Worth metroplex, announced today that it has merged with Integrated Addiction Care and Vertava Health of Tennessee. The newly formed platform company, Blended Health, is focused on expanding access to care for adolescents and adults struggling with acute mental health challenges with primary emphasis on group services consisting of partial hospitalization programs (PHP) and intensive outpatient programs (IOP).

As of its launch, Blended Health is operating eighteen clinics across Texas and Tennessee with plans to add more locations in 2024. Blended Health employs over 400 team members, including more than 300 medical psychiatrists, psychiatric physician assistants, advanced psychiatric nurse practitioners, as well as licensed clinical therapists offering onsite and virtual treatment options in medication management, group and individual therapy. Blended Health will continue to operate in Texas under the consumer-facing brand, Connections Wellness Group, and will begin converting all of its Tennessee locations to the Connections Wellness Group brand in February.

Blended Health is founded and led by CEO Matt Morgan and sponsored by Summit Partners, a growth equity investor with extensive and long-standing experience in the healthcare sector. As part of the merger, CWG founder and former CEO Awstin Gregg has transitioned out of this role and begins serving as an advisor. Morgan will lead a newly formed executive team to support the growth of Blended Health.

“It is an exciting time to launch our company and continue increasing access to expert care and high-quality outcomes provided by our medical and clinical providers,” said Morgan. “We are focused on connecting people to what matters in mental health by providing PHP and IOP services to adolescents and adults in a unique and profound way. Our vision is to create a healthy society empowered through positive mental health. The care Blended Health provides will change lives. The impact we have on their lives today will shape the health of our communities tomorrow.”

Blended Health strives to be a leader in the outpatient behavioral and mental health provider space. The company is committed to expanding access and care, primarily through their partial hospitalization programs (PHP) and intensive outpatient programs (IOP), while providing a strong continuity of care through their employed medical and therapy providers.

CWG specializes in creating continuous care for individuals experiencing mental challenges. The localized IOP and PHP programs provide access for people in need and can help avoid and prevent crisis situations as well as reduce the medical costs incurred by local hospital emergency rooms. This will allow for a more intensive therapy option from traditional mental health care and a local step down from inpatient care. Programs are offered during both the day and evening to accommodate schedules.

There is a growing behavioral health crisis in the U.S., exasperated by a shortage of mental health providers relative to growing demand. Currently, many Americans experiencing mental health challenges seeking treatment wait up to three months to receive treatment, and fewer than 50% of adults and 70% of adolescents experiencing mental challenges receive treatment.

Blended Health’s mission is to expand access to outpatient behavioral healthcare services for adolescents and adults struggling with acute mental health challenges by providing a strong continuity of care that includes convenient, innovative, and high touch individual and group services.

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About Blended Health
Blended Health is a behavioral healthcare company backed by Summit Partners, growth-focused alternative investment firm managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Blended Health operates eighteen outpatient clinics across Texas and Tennessee, with the mission of expanding access to outpatient behavioral healthcare services for adolescents and adults struggling with acute mental health challenges by providing a strong continuity of care that includes convenient, innovative, and high touch individual and group services.

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Source: Blended Health

HAUPPAUGE, NEW YORK - Hallmark Health Care Solutions (“Hallmark” or “the Company”), a healthcare technology company specializing in workforce management solutions, today announced that Bruce Cerullo has been named Chief Executive Officer. Co-Founder Isaac Ullatil, who has served as Chief Executive Officer for the past 13 years, will transition to the role of Strategic Advisor.

Mr. Cerullo brings more than 35 years as an investor and operator in the healthcare industry, having served in multiple executive leadership and board positions throughout his career, including serving as Chairman and CEO at both Nordic Global and Vitalize Consulting Solutions (VCS). He was most recently an Advisory Partner at Summit Partners and previously spent nearly two decades as an Operating Partner at SV Health Investors.

“I am honored to join the Hallmark team at this exciting moment in our growth journey,” said Mr. Cerullo. “I look forward to helping to build on the Company’s momentum as we continue to help healthcare organizations nationwide address their most critical workforce challenges with innovative solutions that pair smart technology with highly effective strategies delivered by a deeply experienced team.”

“We are thrilled to welcome Bruce as Hallmark’s next CEO,” said Ross Stern, Summit Managing Director and Board Director at Hallmark. “Bruce is a high caliber leader with deep healthcare workforce experience and an impressive track record building category-leading healthcare companies. We are excited to have him lead the next phase of Hallmark’s growth.”

Hallmark provides innovative workforce management solutions designed to bring transparency, efficiency and savings to healthcare organizations. The company’s SaaS platform is the industry’s only vendor neutral enterprise solution and today is used by more than 85 healthcare organizations and more than 750 staffing agency partners across the United States. Mr. Cerullo joins Hallmark at an exciting time, following a <a href= https://www.summitpartners.com/news/hallmark-health-care-solutions-announces-significant-growth-investment-led-by-summit-partners target="blank"> significant growth investment from Summit Partners</a>, as the Company deepens its commitment to product innovation and customer success.

“It has been a true honor to lead and build Hallmark,“ said Mr. Ullatil. “Today, I am as confident as I have ever been about Hallmark’s ability to deliver tangible value for our customers while empowering them to focus more on their core purpose of lifesaving patient care. I’m excited to transition to my new role where I can focus my attention on supporting key strategic initiatives and developing new solutions to serve our clients. I believe Bruce is the right CEO to lead Hallmark through this next phase of growth.”

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About Hallmark Health Care Solutions
Hallmark Health Care Solutions offers a fully integrated SaaS platform for healthcare workforce management.  Our platform streamlines the sourcing and deployment of contingent clinical labor and automates the provider lifecycle from contracting to compensation – all with exceptional effectiveness, transparency, and cost savings.  Partnered with our advanced strategies and deep expertise, Hallmark’s leading-edge technology solutions empower healthcare organizations to thrive. For more information visit: www.hallmarkhcs.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or  Follow on LinkedIn.

About Enhanced Healthcare Partners
Enhanced Healthcare Partners (EHP) is a leading private equity firm that specializes in partnering with transformative, middle-market healthcare businesses. EHP provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-oriented businesses. Representative investments include Hallmark Health Care Solutions, Vytalize Health, PAI, SCA Pharma, and West Dermatology. For more information, visit: www.enhancedhealthcare.com.

Dublin, OH – CollisionRight (“the Company”), a leading consolidator of automotive collision repair shops in the United States, today announced a majority investment from Summit Partners, a leading growth equity investment firm. The new capital will help support CollisionRight’s growth plan, which is focused on acquiring and operating high-quality, customer-friendly collision repair shops across the Central United States and Mid-Atlantic regions. CollisionRight Founder and CEO Rich Harrison will retain significant equity ownership in the business by investing alongside Summit, as will several other members of the Company’s senior management team.  

Founded in 2020, CollisionRight has acquired 89 collision repair shops in the past three and a half years, establishing the Company as one of the leading consolidators and providers of collision repair services in the United States. The Company and its skilled repair technicians aim to provide high-quality, reliable repairs for consumers, using modern technology, paint, and parts, and to be an equally reliable partner to the Company’s insurance carrier partners who pay for the overwhelming majority of repairs undertaken by CollisionRight.

“Partnering with Summit will help CollisionRight enter a new and expanded era of growth,” said CEO Rich Harrison. “Summit’s growth focus and commitment to operational excellence align with our desire to continue to partner with the country’s best shop operators and provide the driving public with timely and high-quality repairs. Our goal is to create an industry leader that will set the standard for growth, excellence and customer service. We are confident that partnering with Summit will help us to achieve that goal,” he added.

“CollisionRight has quickly established itself as a market leader in the collision repair industry, and we are excited to help Rich and his team extend this leadership position,” said John Carroll, a Managing Director at Summit Partners who will join Rich Harrison on the Company’s Board of Directors.

“The collision repair industry remains highly fragmented, large and, in our view, very attractive,” added Robert Grady, an Advisory Partner at Summit who will also join the Company’s Board of Directors. “We look forward to working closely with the CollisionRight team to capitalize on this opportunity and enhance the Company’s position as a growing, high-quality, customer-focused company.”

The terms of the transaction were not disclosed.

About CollisionRight
CollisionRight is a leading provider of automotive collision repair services through a network of 89 facilities across nine states including Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee and West Virginia. CollisionRight differentiates itself through a passion for quality repair work, backed by heavy investment in state-of-the-art equipment, facilities, technician training and auto manufacturer certifications. CollisionRight shops repair over 90,000 cars per year and maintain over 100 direct repair programs with insurance carriers.  The Company maintains strong relationships with insurance carriers, who generate approximately 90% of the Company’s sales. The Company is based in Dublin, Ohio.  For more information, please visit www.CollisionRight.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and growth products and services. Summit maintains offices Boston, Menlo Park, London, New York, and Luxembourg, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

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BOSTON – EngageSmart, Inc. (“EngageSmart” or “the Company”), a leading provider of vertically tailored customer engagement software and integrated payments solutions, today announced the completion of its acquisition by an affiliate of Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, for $23.00 per share in cash, valuing the Company at approximately $4.0 billion. With the completion of the acquisition, EngageSmart’s common stock ceased trading and the company is no longer listed on the New York Stock Exchange.

“Completing our transaction with Vista marks the beginning of an exciting new chapter for EngageSmart as a privately held company,” said Bob Bennett, EngageSmart CEO. “I’m confident that our customers and EngageSmart will benefit from the deep expertise of Vista and continued partnership with General Atlantic, two software and technology investors that are eager to help us build on our momentum to provide even more powerful, innovative and seamless solutions. I’d like to recognize the dedication and focus of our employees throughout this process. Our team delivers for customers every day and there is no doubt that they will continue to help customers provide the highest adopting digital engagement software, with integrated payments, to their clients.”

“EngageSmart’s success is based upon the Company’s demonstrated track record of innovation and product leadership,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “With our transaction now complete, we are eager to leverage our resources and value creation expertise to support the Company’s next phase of growth. We look forward to partnering with their team to build on EngageSmart’s strong momentum and bolster its position as a leader in the vertical software and payments space.”

“Vista seeks to partner with innovative founders and executives leading exceptional enterprise software companies,” said Jeff Wilson, Managing Director at Vista. “We share Bob’s vision and the EngageSmart team’s commitment to their customers who provide critical services for our communities.”

EngageSmart stockholders voted to approve the transaction at the Company’s Special Meeting of Stockholders on January 23, 2024.

Advisors

Evercore is acting as financial advisor to the Special Committee, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to the Special Committee.

Goldman Sachs & Co. LLC is acting as exclusive financial advisor to EngageSmart.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to General Atlantic.

BofA Securities and J.P. Morgan Securities LLC are serving as financial advisors to Vista, and Kirkland & Ellis LLP is acting as legal counsel to Vista.

About EngageSmart

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of September 30, 2023, EngageSmart serves 116,200 customers in the SMB Solutions segment and 3,400 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

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Source: EngageSmart

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The two industry-leading tech companies will now operate as a singular brand, named Later, with a shared mission to build the world’s first Social Revenue Platform™

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BOSTON — Today marks a significant milestone in the social marketing space as two industry leaders, Later and Mavrck, officially become one brand, with a new logo and mission.

Mavrck, an award-winning influencer marketing solution, acquired Later, a leading social media management platform and link in bio tool, in April 2022.

Under the united banner of Later, their three flagship products are:

● Later Social™: a social media scheduling and management tool for all major social platforms.

● Later Influence™: an enterprise-level influencer marketing solution.

● Later Link in Bio: a fully customizable link in bio tool that helps drive traffic and revenue from Instagram & TikTok.

“Together, we now serve more than eight million users and enterprise clients,” said Lyle Stevens, CEO, Later. “And the two companies are united by a shared passion: to enable people to make a living with their creativity through our first-ever Social Revenue Platform.” The unified platform is actively in development with a vision to seamlessly integrate the finest features of social media management, influencer marketing, and link in bio tools onto a singular platform. This all-in-one destination aims to empower brands, marketers, and creators to effortlessly reach new audiences, drive engagement, and generate predictable ROI.

“Innovation is core to our ethos, and our team is committed to pioneering the next wave of solutions in the social marketing era. As we unify our product lines, we'll release a series of new integrated experiences, tools, and services that maximize how brands and influencers drive predictable performance through social,” said Justin Withers, Chief Product Officer, Later.

As part of the brand unification, Later also unveils new branding that signifies a step forward in our journey to enrich the experiences of our customers.

"Our rebrand is more than a visual change; it reaffirms our dedication to nurturing and empowering our community and customers," said Sarah Bugeja, VP of Marketing, Later. "We aim for Later to be your success partner, providing innovative solutions for marketers and creators to achieve their social marketing and revenue goals effectively."

Now unified under the Later banner, all employees will continue to operate remotely and from hub cities in Boston, MA, Toronto, ON, and Vancouver, BC.

"Uniting under the Later brand gives us a clear focus on delivering value to our customers and the creators we collaborate with. We're thrilled to collaboratively shape the future of social media marketing with them,” added Lyle Stevens, CEO, Later.

To learn more about Later, go to www.later.com

About Later
Later is the world’s first Social Revenue Platform. With over 8M users and enterprise clients, Later helps marketers create high-performing social content and collaborate with creators to reach new audiences, drive engagement, and generate predictable ROI.

As a trusted partner and go-to resource for social media advice, Later will help you create an engaged community for reliable performance and repeatable growth.

Learn more: www.later.com

Please visit our Later Newsroom for shareable assets, logos and more.

Lakeland, FL - DocuSketch, a leading provider of process optimization solutions for the North American property restoration industry, proudly announces a minority growth investment from Summit Partners. The new capital will help DocuSketch support customers and partners, and accelerate R&D investments including integrating advanced AI applications into its product portfolio. DocuSketch management will retain majority ownership in the business.

Launched in 2019, DocuSketch offers a comprehensive, all-in-one solution purpose-built for the property restoration industry, featuring 360° documentation, automated scoping, sketching solutions, and estimating services. Today, the company’s solutions are used by over 20,000 restoration professionals and insurance adjusters in North America. Current customers include North America's largest restoration contractors like ATI Restoration, Paul Davis Restoration and ServiceMaster; insurance carriers; as well as a large base of independent restoration companies.

Ralf von Grafenstein, Founder & CEO of DocuSketch, expressed his enthusiasm for the transformative impact he believes the funding will have on the restoration industry: "We are on a mission to radically transform restoration businesses with the most efficient and easy-to-use process optimization software. At a time when we are experiencing a higher frequency and severity of extreme weather events, DocuSketch aims to streamline the claims process and shortens response times, benefiting the businesses and homeowners impacted by these catastrophic events."

Martin Merta, Managing Partner with DocuSketch added, "When a loss event occurs, speed and accuracy of damage assessment are paramount. DocuSketch’s solutions are designed to deliver on both of those needs, helping automate time-consuming and error-prone documentation processes and serving as a gateway to engage with reliable, expert services wherever and whenever needed. Our solutions have resonated with the market, and we believe Summit Partners’ investment and deep resources will help us execute on our extensive product roadmap to further empower restoration professionals."

DocuSketch currently processes more than 40,000 insurance claims each month, and, to-date, has helped streamline more than 750,000 restoration projects. Recently, the company introduced an innovative subscription service for insurance-compliant estimates, and with this funding, DocuSketch is poised to unveil further digital solutions aimed at increasing transparency, eliminating bureaucracy, and promoting trust in the claims process.

“Digital transformation in the home and commercial real estate markets has been a key focus area for Summit for several years, and we are thrilled to partner with the DocuSketch team as they work to modernize and automate critical processes in the property restoration industry,” added Colin Mistele, Managing Director at Summit Partners who has joined the DocuSketch Board of Directors. “With a deeply experienced team who understands the challenges and nuances of the customer and solutions that are designed specifically to meet those needs, we believe DocuSketch is truly driving impact in the market.”

About DocuSketch
‍Having successfully streamlined and processed over 750,000 insurance claims within the restoration industry, DocuSketch stands as one of the industry's largest and most rapidly expanding software vendors. We take immense pride in serving a user base exceeding 20,000 restoration professionals, which includes the trust of 8 out of 10 of the largest restoration businesses. They confidently rely on our intuitive all-in-one product suite including advanced features such as 3D imagery, technology-enhanced sketching and scoping, and a proven service to generate insurance-compliant claims. DocuSketch’s investors including Liquid Partners will continue to support DocuSketch in the company's next phase of growth.

Join us at DocuSketch as we continue to lead the way in transforming the restoration industry through innovation and efficiency. Find more information or book a product demo here: https://docusketch.com

Explore a career opportunity with DocuSketch by viewing our open job positions: https://docusketch.com/careers

About Summit Partners
‍Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

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Summit’s Sophia Popova was named to GrowthCap's list of “Top 40 Under 40 Growth Investors of 2023.” Awardees were selected based on the depth of their deal experience, ability to help the companies they invest in, collaborative work style, and progression towards firm and industry leadership roles, among other attributes.

Sophia Popova is a Partner on our Technology Team. She joined the firm in 2017 as a Vice President and was promoted to Partner in January 2023. Over the course of her tenure, Sophia has distinguished herself as a smart and thoughtful technology investor. She has played an active role in eight Summit investments, representing more than $1.6 billion in invested capital. Her current board and investment experience includes Invicti Security, Klaviyo (completed IPO in 2023, NYSE: KVYO), Markforged (completed IPO in 2021, NYSE: MKFG), Mavrck, Vensure Employer Services (formerly PrismHR), Sifted, StackAdapt and Ylopo.

Read more about Sophia and her fellow honorees at GrowthCap.

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^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s career through deal experience, ability to help the companies they invest in, collaborative work style, and progression towards firm and industry leadership roles, among other attributes. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direction communication with portfolio company executives and/or others in the industry.}

^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap's website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on January 10, 2024.}

As 2023 comes to a close, we are proud to share the milestones and moments that defined the year for the companies and teams with whom we partner. We look forward to continuing to work alongside the strong leaders across our portfolio and supporting the growth of these businesses in the year ahead.

View Summit's 2023 Year in Review.

Watzinger, CrowdStrike Chairman, and Nir, Former ZoomInfo Chief Marketing and Product Officer, also invest in NinjaOne
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Austin, TX — NinjaOne, a leading IT management platform for IT departments and managed services providers, today announced the appointments of Hila Nir and Gerhard Watzinger to its Board of Directors. Nir is a marketing and product legend who took ZoomInfo public and made it a household name for every B2B marketer as the company went from $10 million to $1+ billion in revenue under her leadership. Watzinger has decades of enterprise software and cybersecurity leadership, including steering CrowdStrike through its IPO and architecting one of the largest security acquisitions in history at McAfee. Nir and Watzinger also invested in NinjaOne, underscoring the trust, commitment, and belief they have in the company.

“NinjaOne is a remarkable growth company with a disruptive product that delivers business value from the CIO to the system administrator,” said Watzinger. “The company is more than just a product platform; it embodies a vision for how IT departments should be evolving. Work faster and easier. Reduce risk simply. And do it with customer success being the only goal that matters.”

“NinjaOne is relentlessly focused on making its customers and partners successful, and this is why they may have the best growth story of any SaaS company I’ve been part of,” said Nir. “The passion, integrity, and opportunity at NinjaOne are an ideal fit for my experience, and I’m excited to be working with the leadership, marketing, and product teams to fuel the next wave of customer success, innovation, and growth.”

Modern organizations are run on endpoints, but there is a meteoric rise in the complexity and number of endpoints on the market. In order to manage endpoints in an efficient manner that reduces security risks, IT teams are forced to rely on a dizzying number of legacy point solutions that put the business at risk. The NinjaOne Platform was built to help IT and MSP teams efficiently manage, patch, and support all endpoints. More than 15,000 customers in more than 80 countries work with NinjaOne to:

• Automate IT: 95% of customers save time automating manual tasks

• Cut Costs: Nine out of every 10 customers replace two or more tools with NinjaOne (and seven of the nine replace more than four tools)

• Reduce Risk: 95% of customers improve patch compliance*.

“Gerhard and Hila are superb additions to the NinjaOne Board of Directors. They are both seasoned senior executives who have extensive experience with and an intimate understanding of IT buyers, go-to-market best practices, and building scalable growth businesses,” said Andy Collins, a Managing Director at Summit Partners who has served on the NinjaOne Board of Directors since 2018.

Watzinger is Chairman of the Board of Directors at CrowdStrike and member of the Board of Directors for Invicti Security. Watzinger has led several companies as CEO throughout his career and served as the Chief Strategy Officer and Executive Vice President at McAfee. During his time at McAfee, he was responsible for record revenue growth and market share expansion, and he was the architect of the Intel acquisition of McAfee for $7.7 billion in 2011. Watzinger has a bachelor’s degree in computer science from the University of Applied Sciences in Munich, Germany.

Nir was Chief Marketing and Product Officer at ZoomInfo from 2015 to 2023, previously serving as Vice President of Marketing from 2011 to 2015. At ZoomInfo, Nir built and led the marketing and product strategy which took the company from $10 million to $1+ billion in revenue and through the first major technology IPO of the 2020s. Nir has a master’s degree in economics from Bar-Ilan University and a bachelor’s degree in accounting and economics from The Hebrew University of Jerusalem.

“Hila is a modern marketing leader who built one of the most lasting B2B brands of all time, and she is an invaluable advisor from go-to-market strategy to day-to-day execution. Gerhard is a business and software visionary, and his guidance and mentorship are helping us to further improve customer success and accelerate growth as we redefine endpoint management,” said Sal Sferlazza, CEO and Founder of NinjaOne. “We are fortunate and grateful to have leaders like this to back us and to help guide our growth with a customer-first focus.”

Learn more about the NinjaOne leadership team at www.ninjaone.com/leadership.

Leading IT Trends for 2024: Embracing Automation, Security, and Consolidation. Omdia.

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About NinjaOne
NinjaOne is a leading unified IT management solution that simplifies the way IT teams work. With NinjaOne, IT teams can automate, manage, and remediate all their endpoint management tasks within one fast, modern, intuitive platform, improving technician efficiency and user satisfaction. NinjaOne is consistently ranked #1 for its world-class customer support and has been recognized as the best-rated software in its category on G2 and Gartner Digital Markets2 for the past three years. For more information, visit www.ninjaone.comp.

StackAdapt is pleased to announce the appointment of co-founder and current COO, Vitaly Pecherskiy, as its new Chief Executive Officer, effective January 1, 2024. In conjunction with this transition, StackAdapt co-founder and outgoing CEO Ildar Shar will continue to provide strategic support on StackAdapt’s Board of Directors, while co-founder Yang Han remains in his position as CTO.

Ildar has played a critical role in StackAdapt’s achievements to date, and he will continue to apply his exceptional expertise and vision to help propel the company’s future growth. “I will be taking on an active role at the board level and remain deeply involved in StackAdapt’s strategic direction. I am as bullish and optimistic about our future as I was on the day we founded the company,” said Ildar. “My role may be changing, but my passion for what we do, and my belief in our collective potential, remains unshaken.”  

Launched in 2014 by co-founders Ildar, Yang, and Vitaly, StackAdapt has been recognized as one of the fastest-growing technology companies in North America and is one of Canada’s Top Growing Companies on The Globe and Mail’s 2023 Report on Business. StackAdapt is rated the number one demand-side platform (DSP) and a Top Software Company by G2, and a 2023 AdExchanger Power Player.

The strategic decision to appoint Vitaly aligns with the company’s goal to launch into new product and market frontiers, and sets the stage for the next phase of growth at StackAdapt.

“It’s been a true pleasure to work alongside the StackAdapt team during a time of exciting growth and expansion,” said Len Ferrington, Board Director of StackAdapt and Managing Director at Summit Partners, which invested in StackAdapt in 2022. “Ildar, Vitaly, and Yang are exceptionally talented, sharing an innovative vision that is matched only by their drive to execute. With Vitaly taking the helm, we believe the journey ahead continues to be bright, and we are privileged to be a part of it.”

Vitaly steps into his new role as CEO with a clear vision for the future and over a decade of experience building the company. Under his leadership and guidance, StackAdapt receives the support necessary to continue fostering innovative solutions that fuel the company’s expansion.

“Those who know Vitaly, know that his vision, deep involvement in every aspect of the business, unwavering passion for innovation, and team leadership, have been instrumental to StackAdapt’s growth and success. I have the utmost confidence that Vitaly’s leadership will put StackAdapt in an even stronger position for the future,” said Ildar Shar.

“Since StackAdapt’s inception, Ildar, Yang, and I have been on an incredible journey of innovation. Working with them, and learning from their remarkable expertise and insights, has been a true privilege. Alongside our committed team, engaged board, and valued clients, we have cultivated a vibrant culture of idea-sharing that drives our continuous development and growth,” said Vitaly. “As I transition into my new role as CEO, I am grateful for our shared journey to date, and excited to lead us toward new frontiers of technological and business excellence.”

StackAdapt’s product and innovation roadmap is more ambitious than ever. Stay tuned for news of StackAdapt’s exciting upcoming initiatives and new product releases in 2024!

Source: StackAdapt

New identity reflects integrated offering of wealth management, tax advisory and planning services for high-net-worth and ultra-high-net-worth clients

Highlights expanded capabilities and continuing dedication to exceptional client experience

BOSTON - Adviser Investments, a leading independent wealth management firm, today announced its rebranding as RWA Wealth Partners. The rebrand follows the successful merger with Ropes Wealth Advisors earlier this year. With nearly 200 employees, RWA Wealth Partners has more than $15 billion in total client assets under management and assets under advisement as of September 30, 2023, of which approximately $14.7 billion is regulatory assets under management.

Mario Ramos, CEO of RWA Wealth Partners, said, "Our new brand reflects our deep commitment to integrated client service and to providing a comprehensive, coordinated experience delivered with the highest standards of care. The RWA Wealth Partners team is focused on being the only wealth advisor our clients need."

A fast-growing firm with a national footprint and broad resources, RWA Wealth Partners is built to meet the surging demand among high-net-worth and ultra-high-net-worth individuals and families for wealth management services. The firm provides clients with a one-stop, high-touch service experience that addresses all key aspects of their financial lives, including tax, estate and family office services.

RWA Wealth Partners offers sophisticated financial planning and an open architecture investment management platform as part of a comprehensive wealth management solution. The firm's clients have access to broad trust and estate legal services through an exclusive relationship with Hall & Diana LLC, a law firm founded by two attorneys with extensive experience working with members of the RWA Wealth Partners team and serving the estate planning needs of high-net-worth and ultra-high-net-worth families. And, through RWA Wealth Partners' wholly owned subsidiary, RWA Tax Solutions, LLC, the firm provides tax services including preparation, planning and strategies that integrate into clients' financial and estate plans.

Michelle Knight, President of the firm's Ropes Wealth Advisors division, added: "We believe high-net-worth and ultra-high-net-worth individuals are increasingly seeking service providers who can address their wealth management, tax and estate needs comprehensively. The RWA Wealth Partners platform is incredibly well positioned to benefit from this trend, providing clients with a broad suite of solutions, alleviating the need to manage multiple relationships or stitch together services themselves."

Extensive Experience Paired With Human Touch, Innovative Service

Reflecting the rich heritage and shared values of its predecessor firms, the new brand also underscores the enhanced capabilities of RWA Wealth Partners' expanded organization. Building on more than 150 years of stewardship, the combined firm pairs innovative thinking with a total focus on helping clients as they seek to secure a rewarding lifestyle, realize individual and family goals, and establish legacies that last for generations.

Mr. Ramos said, "Our professionals serve as trusted advisors to individuals and families across the country. We believe in wealth building and wealth preservation that help people connect their past with the present and create their legacy. The RWA Wealth Partners brand stands for our commitment to that mission."

About RWA Wealth Partners
With approximately $14.7 billion in regulatory assets under management, RWA Wealth Partners provides wealth management solutions integrated seamlessly with tax, estate and family office services. The firm has a deep bench of advisors with the expertise and technology to tackle the most complex financial problems for high-net-worth and ultra-high-net-worth individuals and families across the country. To learn more about RWA Wealth Partners, please visit www.RWAWealth.com or call 833-RWA-PLAN.

Source: RWA Wealth Partners

We’re honored to be named to Inc.’s 2023 List of Founder-Friendly Investors. The list recognizes firms with demonstrated experience collaborating with founder-led companies and providing the financial support and resources needed to help accelerate growth.

Over nearly four decades, we’ve had the opportunity to collaborate with hundreds of entrepreneurs and management teams, partnering with more than 90 founder-led companies in the last five years alone. This experience has fostered a deep appreciation for and understanding of the courage, vision and tenacity required to start and scale a business. We are proud to support these growth journeys and we look forward to many more.

Read more about a few of the founders we’ve supported and the companies they’ve built in Stories from the Climb, a series dedicated to celebrating and sharing the challenges of building a growth company.

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^{Award selections are determined based on Inc.’s evaluation of the firm’s ability to remain actively involved with the businesses they invest in and earn the trust of the entrepreneurs they support to help drive growth. To compile the list, Inc. spoke directly with entrepreneurs who have sold to private equity and venture capital firms. Founders filled out a questionnaire about their experiences partnering with private equity, venture capital, and debt firms and shared data on how their portfolio companies have grown during these partnerships.}

^{To view the full list of honorees and read more about the selection methodology, visit Inc.’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners paid a fee to submit a nomination to Inc. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by Inc. on October 31, 2023 and based on the time period of  1/1/2018 – 5/30/2023.}

Summit Managing Directors Len Ferrington Michael Medici were named to GrowthCap’s “Top 25 Software Investors 2023” list. In determining this year’s list, GrowthCap evaluated each investor based on capital allocation, investment judgement, strategic, tactical and operational expertise and more.

Len Ferrington joined Summit in 2006 and has since led or played a significant role in investing more than $1.8 billion across 14 Summit portfolio companies. Over the course of his career, Len has partnered with numerous high-growth companies across the technology sector building deep expertise across a variety of subsectors including cybersecurity, B2B software, collaboration and human capital software, tech-enabled education and communications technology.

Len’s current board directorships include Keeper Security, Ruffalo Noel Levitz, StackAdapt and Ylopo, and he is active in the firm’s investment in QAD. His prior board and investment experience includes Access Information Management (acquired by Berkshire Partners), Aeryon Labs (acquired by FLIR Systems), Ascentis (acquired by UKG), Heald College (acquired by Corinthian Colleges), Redzone Software (acquired by QAD), Smartsheet (NYSE: SMAR), Teaching Strategies (acquired by KKR), Trident University International (acquired by Perdoceo Education Corporation) and Ubiquiti (NYSE: UI, formerly Ubiquiti Networks).

Michael Medici joined Summit in 2005 and has since led or played a significant role in 19 Summit investments, representing more than $1.0 billion in invested capital. He has invested in and partnered with numerous high-growth companies across the technology landscape, building deep sector expertise within several software subsectors, including e-commerce enablement, marketing automation, infrastructure and DevOps, industrial technology and supply chain.

Michael’s current board directorships include Klaviyo (NYSE: KVYO), MacStadium, Markforged (NYSE: MKFG), Mavrck and Sifted. His prior investments and directorships include Acacia Communications (NASDAQ: ACIA, later acquired by Cisco), Accedian Networks (recapitalized by Bridge Growth Partners and later acquired by Cisco), Anesthetix (acquired by TeamHealth), Clarabridge (acquired by Qualtrics), Diagnostic Hybrids (acquired by Quidel Corporation), Fermentas International (acquired by Thermo Fisher Scientific), Hiperos (acquired by Opus Global), Logi Analytics (acquired by Marlin Equity Partners), Mi9 Retail (acquired by General Atlantic), and Telerik (acquired by Progress Software).

Read more about Len, Michael and their fellow honorees at GrowthCap.

Award selections are determined based on GrowthCap’s evaluation of the nominee’s demonstrated success in his specific role, including capital allocation, investment judgement, and strategic, tactical and operational expertise, among other factors. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direction communication with portfolio company executives and/or others in the industry.

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^{To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on October 25, 2023.}

Shares of EngageSmart to be Acquired for $23.00 Per Share in Cash

Represents a 30% Premium to the 30-Day Unaffected Volume-Weighted Average Price (VWAP)

EngageSmart to Become Privately Held Company Upon Completion of the Transaction; General Atlantic to Retain Minority Ownership Position

BOSTON -- EngageSmart, Inc. (NYSE: ESMT) (“EngageSmart” or “the Company”), a leading provider of vertically tailored customer engagement software and integrated payments solutions, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Vista Equity Partners ("Vista"), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, in an all-cash transaction valued at approximately $4.0 billion.

Under the terms of the agreement, EngageSmart stockholders will receive $23.00 per share in cash upon completion of the proposed transaction. The purchase price represents a premium of approximately 23% to the unaffected closing price of EngageSmart’s common stock on October 4, 2023, and a premium of approximately 30% over the volume weighted average price (VWAP) of EngageSmart’s common stock for the 30 days ending October 4, 2023.1 Upon completion of the transaction, affiliates of Vista will hold approximately 65% and affiliates of General Atlantic, a leading global investor, will hold approximately 35% of the outstanding equity.

A special committee of EngageSmart’s Board of Directors comprised of independent directors (the “Special Committee”), advised by independent legal and financial advisors, was formed to conduct a deliberate and thoughtful process to evaluate this proposal and other potential value creation opportunities for EngageSmart.

“We have built an amazing business by putting our customers at the center of everything we do,” said Bob Bennett, EngageSmart CEO. “We continue to see attractive growth and customer retention in our vertically tailored SaaS solutions—a testament to the strength of our business model and our leading products. We believe the partnership with Vista and General Atlantic will enable us to continue investing in innovation and people to drive growth. We look forward to continuing to serve our customers and support our employees who are relentless in their pursuit of customer satisfaction.”

“EngageSmart is a demonstrated leader in delivering mission-critical solutions for modern businesses and simplifying customer and client engagement for over a hundred thousand organizations,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “We look forward to working with EngageSmart as they continue to innovate, scale and empower organizations to better serve their customers.”

“We have long admired EngageSmart’s vertical domain expertise in SaaS and its high-quality solutions across the SMB and Enterprise segments—proven by an established track record of growth and profitability,” said Jeff Wilson, Managing Director at Vista. “We are eager to build on EngageSmart’s momentum and look forward to working closely with the talented leadership team to provide even more powerful, innovative and seamless solutions for customers.”

“We are grateful to Bob and the entire EngageSmart team for their ongoing collaboration and trust. Since we first partnered together in 2019, EngageSmart has established itself as an industry leader by digitizing critical business processes and payments in the industry verticals they serve,” said Paul Stamas, Managing Director and Global Head of General Atlantic’s Financial Services sector. “We believe this transaction is compelling for stockholders, and we look forward to continued partnership with the EngageSmart team alongside Vista to build on the Company’s success to date.”

Transaction Details
Transaction negotiations were led by the Special Committee and following its unanimous recommendation, the EngageSmart Board of Directors unanimously approved the merger agreement with Vista and agreed to recommend that EngageSmart stockholders vote to adopt the merger agreement.

EngageSmart has entered into support agreements with affiliates of General Atlantic and Summit Partners, owners of 52% and 14% of the fully diluted stock of the Company, respectively, under which they have agreed to vote all of their shares in favor of the transaction, subject to certain terms.

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and receipt of customary regulatory approvals, as well as the affirmative vote of the holders of a majority of the outstanding shares of the Company’s common stock held by stockholders other than affiliates of General Atlantic and certain officers of the Company. Vista intends to finance the transaction with fully committed equity financing that is not subject to a financing condition. Upon completion of the transaction, EngageSmart will become a privately held company and EngageSmart common stock will no longer be listed on any public market.

The definitive agreement includes a 30-day "go-shop" period that will expire at 11:59 PM ET on November 22, 2023, which permits the Special Committee and its financial advisors to solicit and consider alternative acquisition proposals. There can be no assurance that this process will result in a superior proposal, and the company does not intend to disclose developments with respect to the "go-shop" process unless and until it determines such disclosure is appropriate or is otherwise required.

Third Quarter 2023 Earnings
EngageSmart’s third quarter 2023 earnings will be issued on November 2, 2023. In light of the proposed announced transaction, EngageSmart will not host an earnings conference call. EngageSmart’s third quarter 2023 earnings results will be available on its investor relations website at https://investors.engagesmart.com.

Advisors
Evercore is acting as financial advisor to the Special Committee, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to the Special Committee.

Goldman Sachs & Co. LLC is acting as exclusive financial advisor to EngageSmart.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to General Atlantic.

Kirkland & Ellis LLP is acting as legal counsel to Vista Equity Partners.

About EngageSmart
EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service ("SaaS") vertical solutions, including SimplePractice, InvoiceCloud and DonorDrive, that are designed to simplify our customers' engagement with their clients by driving digital adoption and self-service. As of June 30, 2023, EngageSmart serves 109,700 customers in the SMB Solutions segment and 3,400 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

About Vista Equity Partners
Vista is a leading global investment firm with more than $101 billion in assets under management as of June 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

About General Atlantic
General Atlantic is a leading global investor with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of September 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

Cautionary Statement Regarding Forward-Looking Statements
This communication includes certain “forward-looking statements” within the meaning of, and subject to the safe harbor created by, the federal securities laws, including statements related to the proposed merger of the Company with Vista (the “Transaction”), including financial estimates and statements as to the expected timing, completion and effects of the Transaction. These forward-looking statements are based on the Company’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “aims,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “considered,” “potential,” “estimate,” “continue,” “likely,” “expect,” “target” or similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the Transaction and the anticipated benefits thereof. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the Transaction on anticipated terms and timing, including obtaining required stockholder and regulatory approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the ability of affiliates of Vista to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; (iii) potential litigation relating to the Transaction that could be instituted against Vista, the Company or their respective directors, managers or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations; (v) the ability of the Company to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting the Company’s business; (ix) general economic and market developments and conditions; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect the Company’s financial performance; (xi) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as the Company’s response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction, including in circumstances requiring the Company to pay a termination fee or other expenses; (xvi) competitive responses to the Transaction; (xvii) the risks and uncertainties pertaining to the Company’s business, including those set forth in Part I, Item 1A of the Company’s most recent Annual Report on Form 10-K and Part II, Item 1A of the Company’s subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the SEC; and (xviii) the risks and uncertainties that will be described in the Proxy Statement available from the sources indicated below. These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on the Company’s financial condition, results of operations, credit rating or liquidity. These forward-looking statements speak only as of the date they are made, and the Company does not undertake to and specifically disclaims any obligation to publicly release the results of any updates or revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

SOURCE: EngageSmart.

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Klaviyo – the company that powers smarter digital relationships and makes it easy for businesses to capture, store, analyze, and predictively use their own data to drive measurable, high-value outcomes – began trading on the New York Stock Exchange under the ticker symbol KVYO on September 20, 2023. This represents a significant milestone in a growth journey that began over a decade ago – a journey that Summit has supported since leading Klaviyo's Series B financing in 2019.

Recognizing the growing importance of data-driven solutions to help businesses of all sizes understand consumer behavior and connect with customers and prospects, Summit identified Klaviyo as a leader in a rapidly evolving landscape of marketing technology and commerce enablement solutions. We believed the company shared the attributes we see in many of the most successful growth businesses – an uncompromising commitment to the customer, a strong product-market fit, and a relentless focus on cash-efficient growth.

Read more about Klaviyo's journey from bootstrapped beginnings to IPO >>

New funding allows the Company to maintain its vendor neutral position and to support continued expansion of innovative workforce management solutions that bring transparency, efficiency and savings to healthcare organizations.

HAUPPAUGE, NEW YORK - Hallmark Health Care Solutions (“Hallmark” or “the Company”), a healthcare technology company specializing in workforce management solutions, today announced a significant investment led by global growth equity investor Summit Partners, with participation from existing investor Enhanced Healthcare Partners and Hallmark management. The new funding will be used to accelerate Hallmark’s continued growth and further deepen the Company’s commitment to product innovation and customer success.

Hallmark Health Care Solutions partners with health systems, hospitals, physician groups and other healthcare organizations to overcome some of their biggest labor-related challenges. The Company’s SaaS-based platform combines tools addressing talent sourcing and deployment with provider compensation and contracting to create an end-to-end healthcare workforce management solution. With Hallmark, customers can unlock essential workforce data, improve access to talent, drive operational efficiency and achieve substantial cost savings.

“We believe this investment is a testament to the strength and tremendous future potential of our business,” said Isaac Ullatil, Co-Founder and CEO of Hallmark Health Care Solutions. “There is a healthcare workforce crisis in this country – one that is impacting both quality and cost of care. This new capital will enable Hallmark to further our commitment to our customers, helping the healthcare organizations with whom we partner save time and money, allowing them to focus on the lifesaving work they are called to do.”

U.S. hospital labor costs grew at a CAGR of 37% from 2019 to early 2022 , and clinical labor shortages, which have long plagued the healthcare industry, are expected to persist. McKinsey & Company projects a shortage of between 200,000 to 450,000 nurses by 2025 and the Association of American Medical Colleges estimates the need for as many as 100,000 additional physicians to support healthcare demand by 2030. Against this backdrop, Hallmark continues to experience significant growth. The Company’s SaaS platform is the industry’s only vendor neutral solution and today is used by more than 85 healthcare organizations and more than 750 staffing agency partners across the United States.

“Hallmark is helping healthcare organizations address their most critical workforce related challenges. The Company’s solution is designed to drive efficiency, transparency and cost savings in one of the most problematic areas of healthcare spend,” said Ross Stern, a Managing Director of Summit Partners, who has joined Hallmark’s Board of Directors. “This deeply experienced team has built a scalable, modern SaaS platform with broad applicability and a compelling ROI for customers. We look forward to collaborating with the Hallmark team to help them achieve their long-term goals.”

“We’ve been fortunate to work with Isaac and team over the last three years during a period of strong growth and innovation at Hallmark,” said Matthew Thompson, General Partner at Enhanced Healthcare Partners. “We’ve been consistently impressed with the team’s dedication to their customers and the true impact the company is making in an increasingly critical area of the healthcare ecosystem. We look forward to our continued partnership.”

TripleTree, LLC served as the financial advisor to Hallmark Health Care Solutions for this transaction. With this investment, Hallmark continues to retain its vendor neutral position in the market, receiving no funding from staffing agencies.

About Hallmark Health Care Solutions
Hallmark Health Care Solutions partners with healthcare organizations to overcome their labor-related challenges. From talent sourcing and deployment to provider compensation and contracting, our workforce management platform unlocks essential data, improves access to talent, drives operational efficiency, and delivers substantial cost savings. Through our unique blend of technology, strategy, service, and partnership, we empower healthcare organizations to focus on their core purpose: lifesaving patient care. For more information visit: www.hallmarkhcs.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $37 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

About Enhanced Healthcare Partners
Enhanced Healthcare Partners (EHP) is a leading private equity firm that specializes in partnering with transformative, middle-market healthcare businesses. EHP provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-oriented businesses. Representative investments include Hallmark Health Care Solutions, Vytalize Health, PAI, SCA Pharma, and West Dermatology. For more information, visit: www.enhancedhealthcare.com.

BOSTON — Summit Partners, a global alternative investment firm, today announced that it has been named Investor of the Year at the inaugural GTM Awards. Sponsored by Pavilion in partnership with G2, the GTM Awards is an esteemed industry-wide recognition program created with the goal of celebrating top go-to-market leaders and companies that have demonstrated excellence, innovation, and success within the B2B SaaS sector.

Summit’s global team works collaboratively to partner with growth companies and provide resources to help drive long-term growth. In addition to serving as active board members, Summit provides on-demand, growth-oriented support to our portfolio companies through our Peak Performance Group (“PPG”), a dedicated purpose-built team offering strategic support across a variety of areas, including revenue optimization, growth marketing and other GTM areas. Summit invests across key industry sectors, including technology, healthcare and life sciences, and growth products and services.

“We are honored to be recognized for the work we do to support the many talented GTM leaders across Summit’s portfolio and beyond,” said Dave Averett, Managing Director and Head of Summit’s Peak Performance Group. “As a firm, we are relentlessly focused on providing strategic and tactical support to our portfolio company leadership teams, working collaboratively to help accelerate growth and build long-term value.”

In addition to supporting GTM strategies, Summit’s PPG offers the firm’s portfolio companies strategic support in talent and recruiting, technology and data science, and capital markets. Summit shares perspectives, frameworks and insights on these and other operational topics with the broader community of growth company leaders through our Growth Company Resource Center and our quarterly newsletter and webinar series The Ascent.

“We are so grateful for the opportunity to honor all of these incredible winners at last night's ceremony in Nashville," said Sam Jacobs, Founder and CEO of Pavilion. “These awards are a testament to our mission at Pavilion to connect GTM leaders through collaborative programming. We’re thrilled with this year's results, and we can’t wait to see what next year brings.”

To view the full list of honorees and more information about the GTM Awards, please visit www.joinpavilion.com/gtm-awards.

More about Pavilion and the GTM Awards

Methodology
The inaugural GTM Awards celebrate and honor top go-to-market leaders and teams who have demonstrated exceptional skills, achievements, and contributions across various sectors within the B2B SaaS space. Winners have been determined by the GTM Awards judging panel, comprised of independent industry experts.

About The GTM Awards
The GTM Awards is an industry-wide recognition program celebrating top go-to-market leaders who have demonstrated excellence, innovation, and success in sales, marketing, customer success, operations, CEO/founder roles, and investing. The program is sponsored by Pavilion and G2, and aims to inspire professionals, foster a sense of community, and honor exceptional contributions in the dynamic B2B SaaS go-to-market landscape. For more information, please visit http://www.joinpavilion.com/gtm-awards.

About Pavilion
Pavilion was founded in 2016 as a support network for revenue leaders. Since then, it has grown into a 10,000+ member international community of go-to-market leaders. Through structured training in Pavilion University; private, moderated peer groups; and in-person events, Pavilion delivers on its mission to help revenue leaders unlock and achieve their full professional potential. For more information about Pavilion or to become a member, please visit http://www.joinpavilion.com.

About G2
G2 is the world's largest and most trusted software marketplace. More than 80 million people annually — including employees at all Fortune 500 companies — use G2 to make smarter software decisions based on authentic peer reviews. Thousands of software and services companies of all sizes partner with G2 to build their reputation and grow their business — including Salesforce, HubSpot, Zoom, and Adobe. To learn more about where you go for software, visit http://www.g2.com and follow us on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $37 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Award selections are determined based on Pavilion and G2’s evaluation of top go-to-market leaders and teams who have demonstrated exceptional skills, achievements, and contributions across various sectors within the B2B SaaS space. Information on each nominee was submitted through Pavilion’s online nomination portal, from members of Pavilion’s community of GTM professionals. Finalists and winners were determined by a panel of independent industry experts. To view the full list of honorees and read more about the selection methodology, visit Pavilion’s website.

This award is the opinion of the party conferring the award and not of Summit Partners. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.

Summit Partners was named to GrowthCap’s list of the Top Private Equity Firms of 2023. This year’s list is comprised of 30 firms representing various market segments and sectors. GrowthCap evaluated private equity firms on multiple criteria, including reputation among CEOs, LPs and fellow GPs; firm culture; the level of support provided to portfolio companies; overall growth and performance; and commitment to ESG.

For nearly 40 years, Summit Partners has focused on partnering with some of the world’s most disruptive growth stage companies and the exceptional executives who lead them. We are grateful for the partnership of the visionary CEOs, dedicated teams and the dynamic companies we have the privilege to support.

To view the full list visit of winners, visit www.growthcapadvisory.com.

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^{‍Awardee selections are based on GrowthCap’s evaluation of each firm’s reputation among CEOs, limited partners and other general partners, the degree to which a firm helps its portfolio companies, overall firm growth and performance and commitment to ESG, among other factors.  Information on firms was received through nomination application forms, GrowthCap’s online submissions portal, direct communications as well as through additional research. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on September 18, 2023.}

The leading revenue enablement vendor is the only one of sales readiness leaders that’s also a sales content solutions leader in independent research firm’s latest rankings.

WALTHAM, Mass. — Allego, the leading modern revenue enablement platform provider, today announced its recognition as a leader in The Forrester Wave™: Sales Readiness Solutions, Q4 2023. This follows Allego’s leader status in The Forrester Wave™: Sales Content Solutions, Q4 2022. According to the Sales Readiness report, “Allego delivers with its platform and delights with its service. Allego began in 2013 with its initial sales video coaching application, and has grown from there to make smart, measured investments into the platform. Along with continuous sales readiness innovation, it recently added a strong entry into the sales content solutions market as well. The success of Allego’s strategy is rooted in its deep understanding of the changing buyer landscape…”

“At Allego, our drive is to provide the most innovative and comprehensive sales readiness and enablement solution in the market,” said Yuchun Lee, CEO and co-founder of Allego. “Receiving the highest possible score from Forrester in the innovation and adoption criteria, and now being recognized as a leader across both Sales Readiness, Q4 2023 and Sales Content Solutions, Q4 2022 evaluations, only solidifies for us our position as one of the most forward-thinking Revenue Enablement providers in the market.”

The content and readiness spaces are now converging into comprehensive revenue enablement platforms. In today’s dynamic sales environment, arming sales teams with the right skills, knowledge, and content is paramount. Sales and enablement teams face many challenges: from limited time to coach effectively, to struggles with consistent messaging, to driving knowledge retention and behavior change.

Traditional approaches to these problems fall short. The old training paradigm consisting mainly of formal courses and quizzes often leads to information overload that doesn’t get retained, and what’s worse, the learning content is quickly rendered obsolete.

Allego stands at the forefront of the shift towards modern revenue enablement. With Allego’s GO Platform and EnablementAI, organizations can streamline sales learning and content, drawing from both internal peer-to-peer and external seller-to-buyer interactions. This enables coaches and sellers to collaborate efficiently and sell as a team, ensuring that valuable selling time remains uninterrupted. Sellers can quickly tap into peer knowledge, while managers can pinpoint role-specific skill gaps, providing real-time guidance and mobile reinforcements that sync with sellers’ work rhythm.

The Forrester Sales Readiness report evaluated 11 companies based on 31 criteria across three categories: current offering, strategy, and market presence. Allego received the highest score possible across 19 of the criteria including: adoption, innovation, end-user experience, coaching recommendations, mobile support, and customer success.

“Allego’s modern enablement platform has given our team the flexibility to train sales teams when and where it works for them, through an interface that is extremely intuitive to navigate. Allego’s customer success team has been a critical partner that continues to be by our side every single day. And with Allego’s periodic product enhancements, including use of AI, we know we have the best platform to meet our needs now and in the future” said Guillermo Gonzalez, Director, US Sales Training, Meetings & Events at Abbott.

This recognition by Forrester comes on the heels of Allego’s inclusion as a key vendor in the 2023 Gartner Market Guide for Revenue Enablement Platforms and a notable vendor in Forrester’s Sales Readiness Solutions Landscape, Q2 2023.

To learn more about Allego’s inclusion in The Forrester Wave™: Sales Readiness Solutions, Q4 2023 or to download a copy of the report, visit Allego.com.

About Allego
Allego is the leading provider of modern revenue enablement software. GO, Allego’s Modern Revenue Enablement platform, brings together sales, enablement, and marketing teams to deliver the experience B2B buyers are looking for — in a single, comprehensive platform. With its patented technology, the GO platform ensures revenue teams curate the right content, ready sales teams to win with confidence, and engage with buyers in the right way at the right time for faster sales cycles and greater revenue.

Allego is the trusted choice for one quarter of Dow Jones Industrial Average companies, 5 of the 15 largest U.S. banks, 4 of the 8 largest insurance providers, 4 of the 5 largest global medical device companies, 6 of the 10 largest wealth management firms, 5 of the 5 largest asset management companies, and many other global enterprises. Learn more about revenue enablement that wins sellers and buyers at Allego.com.

Munich, Germany – CERTANIA Holding GmbH (“CERTANIA” or “the Company”), a provider of Testing, Inspection, and Certification (TIC) services focused on addressing global challenges across health and sustainability, today announced a growth investment from Summit Partners. The funding will be used to further support CERTANIA’s  acquisition strategy and help position the Company as a leading TIC provider in Europe and beyond. Founding investor GREENPEAK Partners will maintain significant equity ownership in the Company. Financial terms of the transaction are not disclosed.

Founded in 2020 and based in Munich, Germany, CERTANIA united leading companies in its field to form a new independent market player with a global footprint serving customers across the whole chain of TIC services.  From the beginning, the Company has focused  serving two key market sectors: health and sustainability, putting human well-being and a functioning environment at the center of its mission. Under the CERTANIA umbrella, partner companies benefit from shared operational infrastructure and improved  customer confidence that may otherwise prove elusive to smaller operators – all while maintaining their unique identity and entrepreneurial spark.

“This investment is a testament to our commitment to drive positive change in the TIC landscape,” said Karsten Xander and Moritz Gruber, co-CEOs at CERTANIA . “We believe that, by fostering collaboration among independent experts and focusing on sustainability and health consciousness, we can create visible value for our partners, clients and the wider community. Summit Partners’ engagement will help boost our global development. We look forward to benefiting from their deep experience in the TIC market and to maintaining the well-established and trustful relationship with GREENPEAK Partners as specialists for entrepreneurial company building."

Today, CERTANIA includes sixteen partner companies and employs more than 1,000 professionals across the globe. The Company offers an extensive portfolio of services, including expertise in the areas of food, environmental and industrial testing, CRO services, ESG analytics and consulting, and a broad range of certification and quality-control services, all with the goal of helping clients ensure the safety and quality of their products and processes.

"CERTANIA has achieved impressive scale in just three years since the Company’s founding, and we believe the platform offers a unique opportunity for independent TIC providers who are looking to expand their reach and impact,” said Johannes Grefe, Managing Director at Summit Partners who will join the CERTANIA Board of Directors. “We are thrilled to partner with this visionary team and look forward to working together with co-CEOs Karsten and Moritz and Daniel Beringer at GREENPEAK to build upon CERTANIA’s impressive momentum and support continued organic and acquisition-driven growth.”

“We are excited and honored to have Summit Partners by our side,” added Daniel Beringer, Founding Partner at GREENPEAK Partners. “Together, we will continue to focus on making our planet more sustainable and healthier by expanding CERTANIA’s reach geographically and by growing its service offerings to its customers.”

The transaction is subject to regulatory approval and is expected to close in Q4 2023.‍

About CERTANIA‍

Under the umbrella of CERTANIA Holding GmbH, a new global market player  is created in the field of Testing, Inspection & Certification as well as scientific, laboratory and compliance services. This group offers medium-sized partners a sustainable home for their life’s work. CERTANIA enables entrepreneurs and owners to further develop their companies with like-minded people, while continuing to preserve their entrepreneurial roots, corporate culture, brand and values.

About GREENPEAK‍

GREENPEAK Partners is a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders. While executing its Buy & Build strategies, GREENPEAK aims to develop industry leaders by virtue of strong partnerships, ESG values, and aligned sustainable interests.

To date, the GREENPEAK Partners team has built over 10 platforms, with annual revenues exceeding €1 billion.

About Summit Partners

‍Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $37 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Atlanta, GA - OTR Solutions has launched OTR Clutch, the first and only debit card and banking solution designed exclusively for owner-operators and small and midsize business (SMB) carriers.

"We are very excited to launch OTR Clutch not only as a benefit to our clients, but to the trucking industry as a whole," said OTR Solutions CEO, Fritz Owens. "We've always believed that financial inclusivity and accessibility are powerful principles we should strive for and OTR Clutch paves the way for this reality."

The introduction of OTR Clutch is a result of the company's continued focus on its mission to deliver exceptional value to carrier clients, regardless of market conditions. OTR delivers a banking solution with unlimited cash back on purchases, as well as an executive-like metal business debit card, fee-free overdraft protection, and interest earnings on account balances. With rising interest rates, higher operating costs, and often increased fees from or lack of access to traditional financial providers, OTR Clutch is a timely solution for truckers now more than ever.

"OTR Clutch offers a variety of benefits to cardholders, foremost among these is the ability to earn unlimited cash back on all debit card purchases," said Owens. "This benefit will allow our customers to stretch their budget further, while participating in a system that is traditionally unavailable in our industry."

OTR Clutch banking customers become part of a specialized financial ecosystem catering to the trucking industry, providing easy access to OTR Solutions' suite of trucking-focused financial solutions. Paired with their well-regarded factoring solutions and fuel card, OTR Clutch offers a comprehensive end-to-end package that empowers trucking businesses with a seamless blend of user-friendly financial and operational services. This holistic approach enables companies to initiate, maintain, and grow their operations efficiently and affordably, ensuring a smooth and prosperous journey in the pursuit of trucking.

"Fundamentally, OTR Clutch represents our continued focus on bringing innovative solutions to the trucking industry," said OTR Solutions EVP & Chief Strategy Officer, Clayton Griffin. "We designed OTR Clutch with a ton of heart, and we are incredibly excited to deliver a premium product that serves our clients where they need it most, ultimately putting valuable time and money back into their pockets."

All cardholders receive a premium, solid metal Visa card and virtual card access compatible with Apple Wallet or Google Pay. The OTR Clutch app, available in the Apple and Google Play Store, features seamless mobile capabilities for cardholders to apply for the card, manage their banking, and receive customer exceptional client support.

"In an era where financial empowerment can impact the success of companies and the livelihood of small business owners, we're making sure the trucking community can take advantage," said Owens.

Truckers can learn more and sign up to take advantage of all OTR Clutch has to offer at www.otrclutch.com.

About OTR Solutions

Founded in 2011, OTR Solutions provides industry-leading technology and financial services, tools, and support to help carriers start and grow a successful operation. As the first debit card designed exclusively for the trucking industry, OTR Clutch is revolutionizing the way truckers spend while on the road. OTR Solutions' mission is to simplify the financial lives of hardworking truckers while delivering exceptional value and convenience. To learn more about OTR Clutch, please visit www.otrclutch.com.

Source: OTR Solutions

Summit’s Sophia Popova and Chelsea Jurman were both named to GrowthCap’s list of “Top Women Leaders in Growth Investing of 2023”. This award recognizes women who, through their investment acumen, operational capabilities, and work ethic, have had a profound impact on their firms, portfolio companies and others across the industry. In determining this year’s list, GrowthCap evaluated each candidate based on her demonstrated success in her specific roles, breadth of experience, longevity in the field, and consistency in performance.

Sophia Popova joined Summit in 2017 and is a Partner on the Technology team. She has played an active role in eight Summit investments, representing more than $1.3 billion in invested capital. Her current board and investment experience includes Invicti Security, Klaviyo, Markforged (completed IPO in 2021, NYSE: MKFG), Mavrck, Vensure Employer Services (formerly PrismHR), Sifted, StackAdapt and Ylopo.

Chelsea Jurman joined Summit in 2019 and is a Principal on the Growth Products & Services team. She has played an active role in six Summit investments, representing more than $1.3 billion in invested capital, including more than $860 million in the last two years alone. Her current investment and board experience includes Adviser Investments, Brooklinen and ShipMonk.

Read more about Sophia, Chelsea and their fellow honorees at Growth Cap.

^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s demonstrated success in her specific role, breadth of experience, longevity in the field, and consistency in performance, among other factors. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, direction communication with portfolio company executives and/or others in the industry. To view the full list of honorees and read more about the selection methodology, visit Growth Cap's website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on July 26, 2023.}

Financial close automation leader bolsters capabilities for an additional 400 blue-chip clients to drive ROI for the Office of the CFO.

Dallas, TX – Trintech, a leading global provider of cloud-based financial close solutions for the Office of the CFO, today announced its acquisition of Frontier™ Reconciliation and Accurate™ Reconciliation from Fiserv (NYSE: FI), a leading global provider of fintech and payments solutions. Serving customers across multiple verticals including financial services, telecommunications, retail, insurance and utilities, the acquired reconciliation business will act as a springboard for innovation, expanding Trintech’s accounting automation platform.

Through the acquisition, Trintech gains two leading reconciliation solutions, further enhancing the company’s portfolio of capabilities. Trintech brings over 35 years of global innovation in automation, reconciliations and financial close processes. The addition of Frontier Reconciliation and Accurate Reconciliation, used by more than 400 blue-chip clients across the globe, including eight of the top ten banks and two of the top three insurance companies in the United States, enables these newly acquired clients to benefit from complementary product offerings and differentiated solutions across key U.S. and international markets. Fiserv will continue to deliver solutions and services to many of these clients.

“In this era of intense digital transformation, accounting automation, reconciliations and financial close represent a significant market opportunity. This acquisition positions Trintech to provide even more compelling financial close capabilities, broaden the reach of our partner ecosystem and drive impressive ROI for our customers," said Darren Heffernan, CEO of Trintech. "It's also the latest illustration of our holistic growth strategy – one which places a dual mandate on rapid expansion into key verticals and the prioritization of continuous innovation and talent recruitment. We are thrilled to add this powerful complement to Trintech’s market-leading portfolio."

The acquisition also includes the addition of key employees with technical expertise supporting these solutions across North America, EMEA and APAC, bringing Trintech’s global headcount to nearly 700. New and existing customers benefit not only from expanded technical talent and capabilities but also by gaining access to Trintech’s partner ecosystem of leading technology and service providers. Additionally, as part of an exclusive referral agreement with Fiserv, Trintech expands its global presence and capabilities into new international markets.

“Trintech is well-positioned to guide the Frontier and Accurate reconciliation business through its next chapter, and we are confident they will provide excellent service to our clients and support for their businesses,” said Whitney Stewart Russell, President of Digital Solutions, Fiserv. “We are excited about the partnership we have built with Trintech and look forward to serving clients through our future relationship as a referral partner.”

About Trintech
Trintech, a leading global provider of cloud-based, integrated reconciliation and financial close solutions for Finance & Accounting departments. From high volume transaction matching, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, close management tasks, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including its Cadency® Platform (for large enterprises) and Adra® Suite (for mid-market organizations), help manage all aspects of the reconciliation and financial close processes. Trintech’s excellence in both innovation and client support have been recognized with a variety of awards over the years including most recently “Easiest to Do Business With” and “Fastest Implementation” in G2’s Fall 2022 Report. Over 4,200 clients worldwide – including the majority of the Fortune 100 – rely on Trintech’s solutions to enable their F&A operation to become a strategic partner to the business by optimizing data, controlling risk, driving efficiencies, and providing strategic insights.

Headquartered in Plano, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands, and the Nordics, as well as strategic partners in South Africa, Latin America, and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook,Twitter and Instagram.

About Fiserv
Fiserv, Inc. (NYSE: FI) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.

Source: Trintech

Chris Bon, a Principal in Summit’s London office, was named one of the “2023 Rising Stars of Private Equity” by Financial News and Private Equity News. Over the course of his tenure at Summit, Chris has been actively involved in helping invest more than €213 million in six growth companies across Europe. His board and investment experience includes Energy Aspects, GRESB, Normec (acquired by Astorg), ProGlove (acquired by Nordic Capital) and Sipartech (acquired by Blackstone).

The ”2023 Rising Stars of Private Equity” list from Private Equity News recognizes 25 emerging leaders who stand out for their ability to help shape the future of their firms and the private equity industry in Europe. Read more about Chris and his fellow honorees here.‍

‍

^{Award selections are determined based  on Private Equity News’ evaluation of the nominee’s achievements, career landmarks, technical expertise, skills, amongst other factors.  Each nominee had to be based in Europe and under the age of 40 as of June 30, 2023.  Information on each nominee was received through nomination application forms and direction communication with market participants and industry experts. To view the full list of honorees and read more about the selection methodology, visit Private Equity News’ website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners.  Private Equity News Rising Stars of Private Equity, issued by Private Equity News on July 5, 2023, was based on the time period of April 2022 through March 2023. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein.}

Zug, Switzerland – Cinerius Financial Partners (“Cinerius”, “Cinerius Group” or “the Company”), a leading independent wealth management platform, today announced a majority investment from IK Partners (“IK”). IK is investing from its IK IX Fund and existing investor, Summit Partners, as well as the Cinerius management team are reinvesting significantly as part of the transaction. Financial terms of the transaction are not disclosed.

Founded in 2021 and headquartered in Zug, Switzerland, Cinerius is a leading platform for independent wealth managers (“IWMs”) from German-speaking European regions. The platform currently includes seven partner businesses, each of which offers a range of wealth management solutions, including opportunities to invest in proprietary funds and access advisory services. Cinerius partner businesses include: B&K Vermögen; BV & P Vermögen; Entrepreneur Partners; Habbel, Pohlig & Partner Vermögensverwaltung; KSW Vermögensverwaltung; Ringelstein & Partner Vermögensbetreuung; and VM Vermögens-Management.

Through its partner companies, the Cinerius Group manages assets for over 5,500 clients. With 13 locations and more than 140 employees across Germany and Switzerland, Cinerius collectively manages over 10 billion CHF of assets.

In the two years since Cinerius was founded, it has gone from strength-to-strength, seeking to promote the growth of its IWMs by offering strategic advice and access to a range of middle-office and back- office functions. The platform enables the provision of HR-related services as well as support in areas such as hiring, compliance, digital marketing and new customer acquisition. With IK joining as a majority shareholder, the Company aims to solidify its position as a leading wealth management platform by pursuing organic growth initiatives, investing in its people and technology and growing its group of partner businesses through a dedicated M&A strategy.

Christoph Lieber, CEO at Cinerius Financial Partners, said: “We look forward to the next chapter in our journey, drawing on IK’s extensive experience in the financial services sector. We believe that the IK team can help us realise our ambitions to further strengthen our position in the IWM marketplace through both organic and inorganic growth. We are grateful to have had the support of Summit Partners over the last two years and are pleased to see them reinvest in our dynamic company.”

Mirko Jablonsky, Partner at IK Partners and Advisor to the IK IX Fund, said: “We have been impressed with Cinerius’ track record to date and its ability to attract high-performing, complementary partner businesses to the platform. Within a short period of time, Cinerius has developed into the preeminent consolidation platform in a fragmented market in the DACH region, offering both growth support as well as succession solutions to IWMs. With a comprehensive range of services, Cinerius has exciting growth potential, which we aim to unlock during our partnership in the coming years. We look forward to working with Chris and his team, while continuing to draw on the expertise of Summit Partners, to develop the Company further.”

Johannes Grefe, Managing Director at Summit Partners, commented: “We have been fortunate to partner with ambitious and passionate partner businesses and work with an experienced Cinerius team these last few years. The Company has grown meaningfully since our initial investment in 2021 and today is a clear market leader in the DACH wealth management industry. We are inspired by the hard work and commitment of the Cinerius team and our partner businesses and we are confident that with our continued support and the additional experience of our new partners at IK, the Company will continue to deliver on its ambitious growth strategy.”

Completion of the transaction is subject to competition authority approvals.

About Cinerius Financial Partners
Cinerius is a wealth management platform in the German-speaking region of Europe (“DACH”). Headquartered in Zug, Switzerland, the Company employs 140 people across 13 locations in the DACH region. Cinerius seeks to promote a higher growth dynamic by offering resources at scale and strategic support to partner businesses while allowing leaders to maintain operational independence. For more information, visit www.cinerius.com.

About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

London, UK – TradingHub, a leading provider of sophisticated risk-based software solutions for financial markets, today announced a minority investment from global growth equity investor Summit Partners. The investment, which comes in the form of secondary capital, will help TradingHub expand its product offering, deepen its financial market footprint and support the company’s continued growth.

TradingHub was founded in 2010 with a vision to provide financial analytics tools to the world’s leading capital markets participants. The company provides market-leading trade surveillance, anti-money laundering, best execution, and financial analytics software across a broad range of asset classes, including rates, fixed income, FX, commodities, and equities. TradingHub’s risk-based approach to identifying anomalous trading behavior represents a paradigm shift – a move away from traditional, rules-based systems towards sophisticated monitoring of capital markets activity.

“With the introduction and increasing complexity of financial market regulations – such as Dodd-Frank, MAR and MiFID II – financial institutions are under mounting pressure to deliver robust trade surveillance programs to help both ensure regulatory compliance and counter continuously evolving market abuse,” described Neil Walker, CEO and Co-founder of TradingHub. “Leveraging sophisticated financial modeling and deep experience across both exchange-traded and OTC products, TradingHub’s technology is uniquely positioned to accurately detect the most complex forms of financial crime, including cross-asset market manipulation.”

Today, TradingHub monitors 135M+ trades per day across 45+ countries and serves more than 60 clients, including some of the world’s largest investment banks, hedge funds and asset managers.

“As reporting requirements expand and financial crime evolves, we believe TradingHub offers differentiated and powerful trade surveillance solutions that are mission-critical to sell-side and buy-side firms,” said Antony Clavel, Managing Director at Summit Partners who will join the TradingHub Board of Directors. “We have followed TradingHub’s growth for several years and believe they have built an enviable market position with deep relationships with leading financial institutions. We look forward to collaborating with the team to help them achieve their long-term goals.”

Neil Walker, CEO of TradingHub, added: “We are delighted to announce Summit Partners as a new TradingHub shareholder. The firm has a strong reputation for partnering with their portfolio companies and we have already experienced the benefit of their perspective and their collaborative approach. We look forward to working with the Summit team to help further accelerate TradingHub’s growth.”

Financial terms for the transaction were not disclosed. Alantra Partners advised TradingHub and the sellers.

About TradingHub
TradingHub is a finance-focused big data firm that aims to create the world’s leading financial markets analytics platform. Its customer base includes some of the world's leading investment banks, asset managers, hedge funds, commodity houses, and brokerage firms, which collectively represent over $20 trillion in assets under management. TradingHub specializes in building best-in-class tooling for trade surveillance, financial markets anti-money laundering, best execution, and financial markets reporting and analytics. TradingHub is headquartered in London and has additional offices in New York, San Francisco, Toronto, and Singapore. For more information, visit https://tradinghub.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

BOSTON, MA — Global growth equity investor Summit Partners today announced the addition of John Coughlin to the firm’s Executive-in-Residence (“EIR”) program. In this role, Mr. Coughlin will work closely with Summit’s growth products & services team to identify new investment opportunities and advise growth-stage companies in the payments, financial technology and business services sectors.

Mr. Coughlin brings deep experience building and managing teams and businesses in the payments industry. He joins Summit’s EIR program after serving as a member of the executive team at Summit-backed FLEETCOR Technologies (NYSE: FLT), a corporate payments solutions company. During his twelve-year tenure, Mr. Coughlin helped lead the company through a period of meaningful growth. Most recently, Mr. Coughlin served as Group President – Corporate Payments where he ran FLEETCOR’s AP automation, corporate and virtual card, and cross-border payments businesses. Prior to that, he served as EVP of Global Corporate Development where his team completed 38 acquisitions and deployed $8.6 billion in capital over a nine-year period. During Mr. Coughlin’s tenure, FLEETCOR experienced a tenfold increase in both revenues and market capitalization and joined the S&P 500 index. Prior to FLEETCOR, Mr. Coughlin was a Managing Director at middle market private equity firm PCG Capital Partners, CEO at dental services company Benevis, and a Senior Partner at strategy consulting firm The Parthenon Group.

"We are thrilled to welcome John to Summit’s Executive in Residence program,” said Matt Hamilton, a Managing Director with Summit Partners. "He is a highly experienced operator and a talented people leader who brings deep expertise in the fintech and information services sectors.”

“Summit has a long history of partnering with category-leading growth companies driving innovation across the fintech and information services landscape,” said Mr. Coughlin. “I’m very much looking forward to working alongside the Summit team and leveraging our combined experience to identify new opportunities, drive growth and create value.”

Summit has been active in the payments, financial technology and business services sectors for nearly four decades. Since the firm’s founding in 1984, Summit has partnered with more than 125 companies across the financial technology and services, and business and information services sectors.

Summit’s EIR program is an established element of the firm’s growth-oriented investing strategy. Since its inception, the program has facilitated collaboration between seasoned industry executives and Summit’s investment professionals, working to identify sector-specific opportunities in which EIRs may support companies in an ongoing capacity through board or leadership roles.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Summit Managing Directors Darren Black and Ross Stern were named to GrowthCap’s “Top 25 Healthcare Investors 2023” list. In determining this year’s list, GrowthCap evaluated the breadth of experience of each nominee, feedback from CEOs, firm colleagues and industry peers, in addition to conducting proprietary research.

Darren Black joined Summit in 2013 and has since led or played a significant role in investing more than $3.5 billion in capital across 18 portfolio companies. He has partnered with numerous high-growth companies across the healthcare sector during his career, building deep expertise across the healthcare services and outsourced life sciences services landscape.

Darren's current board directorships include Fortis Life Sciences, InnovaCare Partners, Leon Medical Centers, LifeStance Health (NASDAQ: LFST), Paradigm (recapitalized by OMERS), PharmScript, Sound Physicians, TurningPoint Healthcare Solutions, US Health Partners, U.S. Renal Care, VaxCare and Veranex. His previous board and investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), ABILITY Network (acquired by Inovalon), Advance Health (acquired by New Mountain Capital), DuPage Medical Group (now known as Duly Health and Care; acquired by Ares Management) and HealthSun (acquired by Anthem).

Ross Stern joined Summit in 2009 and has since led or played a significant role in investing more than $2.0 billion in capital across 12 portfolio companies. Ross has partnered with numerous high-growth companies across the healthcare sector, building deep expertise in value-based care, provider-led practice management business models, HCIT and life sciences.

His board and investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), DuPage Medical Group (now known as Duly Health and Care; acquired by Ares Management), Fortis Life Sciences, My Dentist (acquired by Heartland Dental), Paradigm (recapitalized by OMERS), PharmScript, Sound Physicians, TurningPoint Healthcare Solutions, U.S. Renal Care and VaxCare.

Read more about Darren, Ross and their fellow honorees atGrowth Cap.

^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s demonstrated success in his specific role, breadth of experience, longevity in the healthcare field, and consistency in performance within the healthcare industry, among other factors. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, GrowthCap’s proprietary research and direction communication with portfolio company CEOs and other executives, firm colleagues and peers in the healthcare industry. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on May 22, 2023.}

Partnership expands advisory capabilities for both firms, reinforces shared strengths in serving high-net-worth and ultra-high-net-worth individuals, families, trusts and endowments

NEWTON, Mass. and BOSTON, -- Adviser Investments, LLC ("Adviser") and Ropes Wealth Advisors ("Ropes Wealth") announced they are combining their wealth management businesses to create a bespoke advisory firm providing customized wealth solutions through a planning-first, fiduciary-only model. Established 30 years ago, Adviser Investments is an independent registered investment advisor (RIA) that serves families, businesses, foundations and institutions. Ropes Wealth Advisors is an RIA supporting families, trusts and institutions.

Together, Adviser and Ropes Wealth manage nearly $15 billion in client assets and have more than 185 employees, including wealth advisors, portfolio managers, fiduciary and financial planning specialists, and client service professionals catering to high-net-worth and ultra-high-net-worth clients nationwide. Their services span the full range of wealth management needs, including financial, tax and estate planning as well as institutional-quality investment management within public and private markets and across active, passive and tactical investment strategies.

"We're thrilled to partner with Ropes Wealth. The firm's differentiated service offering, which is centered on high-net-worth clients, is as impressive as its talented executive leaders and deep bench of advisors, " said Adviser CEO Mario Ramos. "Their expertise in trust, estate and tax planning will be a game-changing addition to our wealth management platform."

Mr. Ramos continued, "With this combination, we will deepen our leadership position serving wealth management clients with complex planning needs. Equally important, this transaction reinforces our role as one of the leading merger partners of choice for RIA firms and other independent wealth management firms across the country."

The combined company will yield enhanced capabilities and new services for clients of both firms.

Michelle Knight, CEO and chief economist at Ropes Wealth, said, "Adviser shares our vision, values and commitment to delivering exceptional service to sophisticated individual and institutional clients. This excellent cultural and strategic match enables us to enrich our wealth management offerings. I look forward to all that we can achieve together with a combined team, enhanced technology, a shared commitment to employee development, and the deep resources to support industry-leading growth and a personalized service model."

Ropes Wealth Advisors, previously a wholly owned subsidiary of the global law firm Ropes & Gray, will retain its brand, continue to have its offices in Boston's Prudential Tower, and maintain close ties to its former parent company, acting as the preferred provider of wealth management services to Ropes & Gray clients and partners.

Enhanced Legal Resources and Growth Opportunities With Ropes & Gray

In a related development, the co-chairs of the private client group at Ropes & Gray, Brenda Diana and Martin Hall, will also join the Adviser Investments management team, with Diana as chief fiduciary officer and Hall as managing director. Both were instrumental in the launch and growth of Ropes Wealth Advisors.

In addition to their roles with Adviser, Diana and Hall will continue to offer legal services through a new law firm specializing in domestic and international estate, tax and charitable planning, estate settlement, and fiduciary administration.

The new relationship between Adviser Investments and Diana and Hall will enable wealth management clients of both Adviser and Ropes Wealth to benefit from leading tax planning and collaborative, coordinated legal advice.

Looking Ahead

The management of Adviser and Ropes Wealth will own the combined firm in partnership with Summit Partners, a leading global growth equity investment firm. In 2020, Summit made a growth capital investment in Adviser to support its national expansion.

"Adviser and Ropes Wealth are highly complementary organizations in terms of both values and vast capabilities," said Matt Hamilton, a Managing Director at Summit Partners and board director at Adviser Investments. "This exciting partnership positions the combined firm to be a formidable leader in the wealth advisory space."

About Adviser Investments
For 30 years, Adviser Investments, LLC has served families, businesses, trusts, foundations and institutions, providing tailored wealth management services including financial, tax and estate planning, 401(k) advisory services, as well as balanced portfolios of core index funds, ETFs and select alternative investments. Adviser is a nationally recognized brand with over 5,000 clients across the U.S. and multiple offices in locations including Boston, the San Francisco Bay Area and Dallas. The firm employs over 130 professionals including fully staffed client service, research, operations, marketing, technology and M&A teams. Over the last decade, the firm has expanded both organically and through targeted partnerships.

Adviser Investments is routinely named among Barron's top independent financial advisors and the Financial Times' 300 top registered investment advisors, and it has been consistently chosen as one of the best places to work in financial services in national and regional surveys.

About Ropes Wealth Advisors
Ropes Wealth Advisors, LLC was formed in 2013 and opened its doors as a registered investment advisor (RIA) in 2015. It is a nationally recognized fee-only firm with a mission to preserve and enhance the wealth and legacy of the families and institutions it serves. The firm prides itself on the core values of integrated perspective, uncompromising integrity, effective stewardship, generational continuity, sustainable investment results, communication and education. Ropes Wealth Advisors manages investments and provides financial planning services, assists with gift and estate planning, prepares tax returns, consults on philanthropic transfers, and provides trustee and other fiduciary services. It serves high-net-worth individuals and families, charitable organizations and businesses as well as pension and profit-sharing plans.

Investment marks the second significant funding round from a leading technology growth equity firm

CHICAGO, IL – Keeper Security (“Keeper” or the “Company”), a leading provider of zero-trust and zero-knowledge cybersecurity software, today announced that global growth equity firm Summit Partners has completed a significant minority investment in the Company. With this investment, Len Ferrington, Managing Director at Summit Partners, will join the Keeper Security Board of Directors. The synergy between Keeper, Summit and existing investor Insight Partners will further accelerate product innovation and catalyze strategic expansion of the Company’s prominence as a cybersecurity leader in the public and private sectors.

Keeper has seen strong growth in its global operations since raising its last round of funding in August 2020. The Company has added several hundred new employees, acquired remote network access provider Glyptodon, expanded its industry certifications to include earning FedRAMP and StateRAMP Authorization, opened new data centers in Australia, Canada and Japan, and expanded its partner ecosystem across the NorAm, EMEA and APAC regions. Keeper doubled its revenue while maintaining strong gross margins and continued its trajectory with Q1 2023 marking the Company’s strongest quarter on record. This latest investment will accelerate Keeper’s growth and solidify the Company’s position as an innovator in enterprise password management, secrets management, privileged connection management and privileged access management.

“Insight Partners is and has been a fantastic partner that has helped us with go-to-market strategies and best practices. I’ve known Len Ferrington and the Summit team for many years. They have deep experience investing in cybersecurity and a shared passion for the Keeper vision,” said Darren Guccione, CEO and Co-Founder of Keeper Security. “I’m excited about the expanded perspective that both Insight and Summit will bring to Keeper, supporting our exceptional team as we continue to create and deliver industry-leading technology and innovation.”

“While the current economic environment has led to a contraction in many areas of technology investment, the demand for secure and accessible cybersecurity solutions continues to accelerate,” said Len Ferrington, Managing Director at Summit Partners. “Summit has invested in security software for more than thirty years. We are impressed with the breadth of the Keeper product portfolio as well as the Company’s growth, and we are excited to see Keeper work to further disrupt the cybersecurity industry.”

“We saw great potential in Keeper and they’ve surpassed our expectations as a consistently high-performing company in the industry,” said Thomas Krane, Managing Director at Insight Partners. “This strategic investment will elevate Keeper even further, expanding its ability to provide best-in-class cybersecurity solutions to organizations around the world.”

Keeper was co-founded in 2011 by CEO Darren Guccione and CTO Craig Lurey as a password manager for mobile devices. Since then, the Company has developed a robust cybersecurity platform with a clear focus on fulfilling critical unmet needs of the rapidly growing identity and access management market. Today, Keeper’s solutions include a full suite of award-winning consumer and business offerings in password, secrets and privileged connection management, as well as differentiators including dark web monitoring, secure file storage, single-sign on integration, compliance reporting and detailed event logging. The Company services organizations of all sizes from small home offices to multinational enterprises and the largest public sector organizations. Enterprises select Keeper because of its strong security architecture; ability to support federated and passwordless authentication with any identity provider; seamless integration into on-premises, cloud or hybrid environments; and ease of use across desktop and mobile devices.

Its latest offering, KeeperPAM™, provides a next-generation Privileged Access Management (PAM) solution that is disrupting the traditional PAM market. KeeperPAM delivers enterprise-grade password, secrets and privileged connection management within a unified SaaS platform that is cost-effective, easy-to-use and simple-to-deploy. KeeperPAM enables least-privilege access with zero-trust and zero-knowledge security. Keeper’s patented cybersecurity solution is designed to enable complete visibility, security, control and reporting across every privileged user on every device within an organization.

Keeper is committed to maintaining the highest standards of security through continuous testing and auditing. Keeper holds the longest standing SOC 2 and ISO 27001 certifications in the industry. Keeper is GDPR compliant and CCPA compliant, PCI DSS certified, FedRAMP and StateRAMP Authorized, and certified by TrustArc for online privacy. The Company is consistently ranked as having the top-rated password management platform on the market. Keeper has a 4.9 out of 5-star rating on the App Store and 4.6 out of 5-star rating on Google Play, with more than 250,000 combined reviews.

Evercore served as financial advisor to both Keeper Security and Insight Partners. No other terms of this private transaction are being disclosed.

About Keeper Security, Inc.
Keeper Security is transforming cybersecurity for people and organizations around the world. Keeper’s affordable and easy-to-use solutions are built on a foundation of zero-trust and zero-knowledge security to protect every user on every device. Our next-generation privileged access management solution deploys in minutes and seamlessly integrates with any tech stack to prevent breaches, reduce help desk costs and ensure compliance. Trusted by millions of individuals and thousands of organizations, Keeper is a leader for best-in-class password management, secrets management, privileged access, secure remote access and encrypted messaging. Learn more at KeeperSecurity.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

Summit Partners was named to Growth Cap’s list of the Best Growth Investment Firms for 2023. Each firm was evaluated based on its leadership, strategy, unique competitive advantage, operational capabilities, team composition, and capital responsibility (ESG), among other factors.

To view the full list visit: www.growthcapadvisory.com/rankings

^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s ability to consistently identify investment opportunities, create value for portfolio companies, retain talent and optimize outcomes for all stakeholders involved. GrowthCap also factored in each firm’s commitment to ESG and momentum with portfolio company executives and limited partner communities, among other factors. Information on each nominee was received through nomination application forms, GrowthCap’s online submission portal, GrowthCap’s proprietary research and direction communication with portfolio company CEOs and other executives and peers in the healthcare industry. To view the full list of honorees and read more about the selection methodology, visit GrowthCap’s website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners. Summit Partners submitted a nomination, and once selected, paid a publishing and copyright fee to promote this award. There can be no assurance that other providers or surveys would reach the same conclusion as the party conferring the award referenced herein. Published by GrowthCap on April 18, 2023.}

Teresa Mackintosh to become Executive Chair of Board of Directors

Dallas, TX — Trintech, a leading global provider of cloud-based financial close solutions for the Office of Finance, today announced that Darren Heffernan, President & Chief Operating Officer, will become the company’s next Chief Executive Officer, effective May 1, 2023. Heffernan will succeed Teresa Mackintosh, who will transition to Executive Chair of the Trintech Board of Directors, after a successful seven-year tenure leading the company.

Heffernan, who has been with Trintech since 2001, has held a number of strategic and corporate development roles throughout his tenure at the company. He has been instrumental in driving significant growth in his capacity as CFO and President & COO, as well as through his involvement in the company’s international business expansion. Heffernan’s diverse experience and deep industry knowledge will inform his stewardship of Trintech’s continued focus on the company’s operational excellence and commitment to client service, partnership and growth.

Prior to Trintech, Heffernan held various finance and operational positions, driving innovation with companies like GE, Paramount / Universal Studios, IAWS and Anglo American.

As Executive Chair, Mackintosh will continue to work closely with Heffernan and Trintech’s leadership team to ensure a smooth and successful transition. She is steadfast in her commitment to advancing Trintech’s position as a leading global SaaS provider for the Office of Finance.“I am incredibly proud of all that we have accomplished over the past seven years,” said Mackintosh. “The team’s unwavering commitment to serving our customers and supporting our partners has been astounding. I am excited to now welcome Darren as Trintech’s next CEO. Darren has been critical in driving Trintech’s growth for over twenty years, and his passion for innovation and deep understanding of our company culture is unmatched. Darren’s focus on operational excellence will help us to meet and exceed the evolving needs of our expanding client base while also driving Trintech’s growth trajectory. I look forward to our continued partnership in my new role as Executive Chair.”

“On behalf of the Board of Directors, I want to extend my sincerest gratitude to Teresa for her exemplary leadership throughout these past seven years,” said Pete Rottier, Managing Director of Summit Partners. “Under her leadership, Trintech tripled its revenue, solidifying its position as a leader and trusted partner in the global SaaS market for the Office of Finance. The Board is looking forward to Trintech’s continued growth under Darren’s leadership. With his strong strategic, financial, and operational background, and clear dedication to the company’s business and customers, we believe Darren is the ideal person to lead Trintech forward in the years to come.”

“It is a tremendous honor to serve as Trintech’s next CEO,” said Heffernan. “Teresa has been an incredible leader and colleague, and I am privileged to have worked alongside her for the past several years. I want to thank both Teresa and the entire Board for their support and confidence. I look forward to continuing our commitment to deliver better solutions and innovative services for our clients, collaborating with our global partners, expanding our business with exciting new opportunities for growth and building the company with the help of our tremendous employees.”

About Trintech
Trintech, a leading global provider of cloud-based, integrated reconciliation and financial close solutions for Finance & Accounting departments. From high volume transaction matching, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, close management tasks, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including its Cadency® Platform (for large enterprises) and Adra® Suite for mid-market organizations), help manage all aspects of the reconciliation and financial close processes. Trintech’s excellence in both innovation and client support have been recognized with a variety of awards over the years including most recently “Easiest to Do Business With” and “Fastest Implementation” in G2’s Fall 2022 Report. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on Trintech’s solutions to enable their F&A operation to become a strategic partner to the business by controlling risk, driving efficiencies, and providing strategic insights.

Headquartered in Plano, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands, and the Nordics, as well as strategic partners in South Africa, Latin America, and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook,Twitter and Instagram.

PARIS, FRANCE – Doctrine, a leading provider of legal intelligence solutions, today announced a majority growth investment from Summit Partners and Peugeot Invest.

Information tools are critical for day-to-day legal work. With an ever-expanding volume of available data, the ability to properly search and articulate such data has become time-consuming and unwieldy for legal professionals.

Doctrine was founded in 2016 with a vision to innovate legal search and is a pioneer in the application of artificial intelligence to legal data. The company’s legal intelligence platform aggregates, contextualizes and automates the processing of legal information and is designed to empower legal professionals to conduct more accurate and efficient search and save time, limit errors and focus on higher value-add tasks. Doctrine has grown by more than 20x in the last five years, and today the company serves more than 11,000 clients.

“Legal professionals across the globe are struggling to keep up with the proliferation of available legal data," said Guillaume Carrère, CEO of Doctrine. "Doctrine offers a technological solution to this widespread problem, allowing legal professionals to efficiently and accurately locate, understand and harness massive amounts of information in order to build the most impactful legal strategies.”

“Early on, we made the decision to focus on profitable growth, and this approach has informed our operations and our culture,” added Carrère. “We are focused on continuing to apply this approach as we develop innovative solutions that support legal professionals in France and around the world. We believe Summit Partners’ experience will allow us to continue our development and build a leader in legal technology.”

“We believe Doctrine is a pioneer in bringing technology innovation to the field of legal information. We’re thrilled to partner with this dynamic, talented and visionary team, and we look forward to working together to build upon the company’s impressive momentum and support its continued growth,” said Johannes Grefe, Managing Director, and Chris Bon, Principal at Summit Partners.

Bertrand Finet, CEO at Peugeot Invest, added, “We are proud to support Doctrine with this investment, which aligns with our growth strategy to support the technology leaders of tomorrow.”

About Doctrine
Founded in 2016, Paris-based Doctrine is a leading provider of data, search and productivity solutions for legal professionals. The Doctrine platform includes a search engine, a document analyzer module, real-time monitoring and alerts on any changes in legislation or case law, and a folder functionality to save references and build cases. More than 11,000 legal professionals use Doctrine to devise winning legal strategies and minimize risk for their clients. For more information, please visit: https://www.doctrine.fr/, or follow Doctrine on Twitter and LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

About Peugeot Invest
Peugeot Invest is an investment company listed on Euronext, majority owned by Etablissements Peugeot Frères. Peugeot Invest is one of the leading shareholders in Stellantis and Forvia, via its Peugeot 1810 subsidiary, and pursues a policy of establishing shareholdings with a long-term view. Peugeot Invest holds interests in listed companies (such as SEB, LISI and SPIE), non-listed companies (such as International SOS, Signa Prime or Signa Development), co-investments (ArchiMed or JAB Holding), and investment funds.

Acquisition Accelerates Company’s Growth Plan, at-Value, and Brings Customers a Unique Whole Home Experience

HOUSTON -- NRG Energy, Inc. (NYSE: NRG) completed its acquisition of Vivint Smart Home, Inc., effective today, accelerating the realization of NRG’s consumer-focused growth strategy and offering consumers simple, connected experiences to power, protect, and manage their homes intelligently. The acquisition improves and diversifies NRG’s financial profile while also expanding the total market opportunity available to NRG.

“This acquisition is the next step in our consumer services strategy,” said Mauricio Gutierrez, NRG President and Chief Executive Officer. “Today, NRG is at the intersection of energy and home services, with a unique end-to-end smart home ecosystem underpinned by our exceptional customer experience. I am excited to welcome Vivint into the NRG family.”

The company now features a larger customer footprint, serving a network of approximately 7.3 million customers across North America that represents a substantial cross-sell opportunity through market-leading brands and complementary sales channels.

NRG’s leadership in energy markets combined with Vivint’s tech-forward smart home solutions come together as a platform to provide additional opportunities to serve customers with products and services across power, natural gas, and essential home services segments.

About NRG
NRG Energy is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals while also advocating for competitive energy markets and customer choice. More information is available at www.nrg.com. Connect with NRG on Facebook and LinkedIn, and follow us on Twitter, @nrgenergy.

About Vivint
Vivint is a leading smart home company in the United States. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24-7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.9 million customers throughout the United States. For more information, visit https://www.vivint.com.

Source: NRG

BOSTON & LONDON – Summit Partners, a global alternative investment firm, today announced the first and final closing of its newest Europe growth equity fund. Summit Partners Europe Growth Equity Fund IV closed at its hard cap with €1.4 billion in total commitments. Launched in October 2022, the fund was oversubscribed.

“With the closing of this new fund, we further our commitment to Summit’s growth equity strategy across Europe, serving as the partner of choice for category-leading, profitable growth companies within our core sectors of focus,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “We are deeply grateful for the continued support of our limited partners and for their trust and confidence in our global team and our growth-focused strategy.”

Summit Partners Europe Growth Equity Fund IV will target minority and majority equity investments between €20 and €80 million in Europe-based companies, applying the growth equity strategy the firm pioneered in 1984.

“As we invest this fund in Europe, we will build upon nearly 40 years of experience as a growth investor, leveraging our deep sector knowledge, extensive global network and value enhancement resources to support the growth of our portfolio companies,” said Han Sikkens, Managing Director and Head of Europe at Summit Partners. “Europe has been an integral part of Summit’s global investment strategy since 2000, and we have been proud to partner with exceptional founders and management teams over that time.”

Summit’s London-based team collaborates closely with the firm’s global team of more than 115 investment professionals, working together to identify and partner with growth companies in key industry sectors, including technology, healthcare and life sciences, and growth products and services. As active board members and through dedicated value enhancement resources, Summit offers its portfolio company leaders strategic support focused on areas we believe are critical to accelerating and supporting long-term, profitable growth, including human capital, go-to-market and operations, technology and data science, and capital markets.

Since the firm’s inception in 1984, Summit Partners has raised more than $43 billion in capital.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

In the United States of America, Summit Partners operates as an SEC-registered investment adviser. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.

General Atlantic leads investment with focus on accelerating customer growth and product development

Toronto, ON and New York, NY—Jobber, a leading provider of operations management software for home service businesses, today announced it has raised $100 million USD in primary capital led by global growth equity investor General Atlantic. The Series D round also includes participation from Jobber’s existing investors Summit Partners, Version One Ventures, and Tech Pioneers Fund. The financing is anticipated to support the company’s continued growth through investments in R&D, sales and marketing, and new customer acquisition.

Jobber’s mission is to help small home service businesses modernize their operations, increase earning potential, and meet evolving consumer expectations. Jobber’s all-in-one SaaS and mobile solution supports businesses through the full customer lifecycle—from sending quotes to scheduling crews, dispatching jobs, invoicing customers, and accepting credit card payments. More than 200,000 service pros in 60 countries rely on Jobber to help improve customer experience and run a more efficient small business.

“While this is an important milestone for Jobber, what we care about most is the success of the small businesses we serve,” said Sam Pillar, CEO and co-founder of Jobber. “We’re committed to doing everything we can to help them transform the way they deliver their services and operate their companies. We’re thrilled to partner with General Atlantic as we continue to pursue our mission of helping the people in small businesses be successful, and further entrench our leadership position in this important and growing small business category.”

Aaron Goldman, Managing Director and Head of Enterprise Technology Investing at General Atlantic, has joined Jobber’s Board of Directors. Mr. Goldman commented, “We believe Jobber is bringing much-needed innovation to the small business segment, a category that has been traditionally underserved by technology solutions and is still in the early stages of digital adoption. With a platform that is purpose-built for the home service category, Jobber has an opportunity to continue deepening its value as the platform of choice with its customers. We are pleased to partner with Sam and the Jobber leadership team as they focus on strategic growth and continued product expansion.”

Jobber raised its last round of funding in January 2021, a $60 million USD growth equity financing led by Summit Partners. Since that time, Jobber has grown its revenue 3X and is now helping more than 200,000 home service professionals across 50 industries including HVAC, lawn care, plumbing, residential cleaning, painting, and more to deliver services to more than 27 million properties. These jobs resulted in over $13 billion USD in revenue in 2022 for Jobber’s customers.

“Although we’re proud of our growth to date, the real opportunity lies ahead of us,” said Shawn Cadeau, Chief Revenue Officer at Jobber. “There are more than 6.2 million home service businesses in North America alone delivering more than $600 billion in services each year that can benefit greatly from using Jobber.”

Jobber has nearly 600 employees located across Canada, with some based in the U.S. and Latin America. The company is actively hiring across all areas of its business including sales, marketing, product, customer support, and business operations.

About Jobber
Jobber is an award-winning operations management platform for small home service businesses. Unlike spreadsheets or pen and paper, Jobber keeps track of everything in one place and automates day-to-day operations, so small businesses can run smoothly and provide service at scale. Jobber’s 200,000 home service professionals have served over 27 million properties in more than 60 countries. The company continually ranks as one of Canada’s fastest-growing and most innovative companies by Canadian Business and Macleans, The Globe and Mail, Fast Company, and Deloitte. For more information, visit: https://jobber.com/.

About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $73 billion in assets under management inclusive of all products as of September 30, 2022, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $35 billion in capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world.

For more information, please see www.summitpartners.com or Follow on LinkedIn.

We are pleased to announce that Redzone, the world’s #1 connected workforce solution for manufacturing, has been acquired by QAD Inc., a provider of next-generation manufacturing and supply chain solutions in the cloud. Together, QAD Redzone will help manufacturers improve productivity and frontline engagement to address the challenges of rising input costs, wage inflation and labor shortages.

Summit Partners invested in Redzone in 2020, partnering with founders Mark Sutcliffe, Richard Tester and Jon Clement as the company’s first outside investor. With a vision to transform the frontline worker experience in manufacturing, Redzone has achieved significant scale with its Connected Worker platform, a cloud-based collaboration and engagement solution designed to empower workers and drive productivity improvements from plant floor on up. In 2022, the company defied a slowing SaaS market and accelerated bookings growth to 47 percent, adding 100 new logos and over 200 new plants by meeting the critical needs of manufacturers with its suite of frontline productivity, compliance, reliability and learning applications.

Today, over 1,000 plants and 300,000 frontline workers worldwide rely on Redzone’s solutions to create a better employee experience for frontline teams and transform productivity with digital workflows and collaboration tools to get the most out of every shift.

“From the early days of our partnership, Summit shared our vision for empowering frontline workers with purpose-built, human-centric technology to change how work is done on the factory floor,” said Richard Tester, CEO of Redzone. “The Summit team brought meaningful resources to support our expansion into new manufacturing verticals as we extended our leadership position in the connected workforce space.”

“In our view, employee retention and engagement has never been more crucial, especially as manufacturers seek to keep plant floors running in order to meet dynamic customer demand while navigating escalating material costs and supply chain disruption. We believe QAD Redzone is strongly positioned to help manufacturers address these challenges head-on,” said Jay Pauley, Managing Director at Summit Partners.

“We’ve been proud to work alongside the Redzone team to support the company’s strong growth and expansion over the last two years, and we are looking forward to supporting Redzone’s continued development as part of the QAD platform,” added Len Ferrington, Managing Director at Summit Partners.

Learn more about the acquisition at www.rzasoftware.com.

BOSTON, MA; MENLO PARK, CA; NEW YORK, NY; and LONDON, UK – Summit Partners, a leading alternative investment firm, today announced the promotion of 14 professionals across the firm’s global offices. Scott Ferguson, Paul Furer, Mark Nordstrom, Dayton Ogden and Sophia Popova have been promoted to Partner; Chris Bon, Ali Dowd, Mark Hexamer, Chelsea Jurman, Nick Oppedisano, and Jono Pagden have been promoted to Principal; and Jonathan Gilman, Andy Lee and Irina Müller have been promoted to Vice President.

“We are very pleased to recognize the achievements of our colleagues with these well-deserved promotions,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “Each of these professionals represents well the culture and values of our firm. We are very confident they will continue to serve our investors and our portfolio companies with distinction.”

Scott Ferguson has been promoted to Partner. Scott joined Summit’s Menlo Park office as an Associate in 2009 and is a member of the Technology team. His investment and board experience includes Calypso Technology (acquired by Thoma Bravo), HelpSystems (acquired by H.I.G. Capital), MercuryGate, Perforce Software (acquired by Clearlake Capital), Teaching Strategies (acquired by KKR) and Trintech. Prior to Summit, Scott worked in the Technology Investment Banking Group at Piper Jaffray. Scott holds a BS in finance from the University of Kansas and an MBA from the Kellogg School of Management at Northwestern University.

Paul Furer has been promoted to Partner. Paul joined Summit’s Boston office as an Associate in 2011 and is a member of the Growth Products & Services team. His investment and board experience includes 48forty Solutions, Beyond Risk, FineLine Technologies (acquired by L Squared Capital Partners and Leonard Green Partners), Harvey Performance Company (acquired by Berkshire Partners), Parts Town (acquired by Berkshire Partners and Leonard Green Partners), Patriot Growth Insurance Services and Vivint Smart Home (NYSE: VVNT). Prior to Summit, Paul worked for Jefferies and Bank of America Merrill Lynch. Paul holds a BS in finance from Indiana University’s Kelley School of Business and an MBA from Columbia Business School.

Mark Nordstrom has been promoted to Partner. Mark joined Summit’s Boston office as an Associate in 2010. Today, Mark serves as the Head of our Capital Markets team and in this capacity leads the firm’s capital markets activities for existing portfolio companies and new acquisitions. Additionally, he helps Summit manage its commercial and investment banking relationships. Prior to Summit, Mark worked for Bank of America Merrill Lynch and State Street Corporation. Mark holds a BA in economics from Wesleyan University. In addition, he is a CFA charterholder.

Dayton Ogden has been promoted to Partner. Dayton joined Summit’s Boston office as the Head of Talent & Recruiting in 2014. Dayton works with Summit’s portfolio companies and investment teams to identify and recruit high-impact senior executives and board members. Prior to Summit, Dayton led the venture capital and growth equity practice at executive search firm CTPartners. Previously, he was a co-founder of Fortis Partners and a senior associate at Spencer Stuart. Dayton holds a BA in American Studies, with highest distinction, from Wittenberg University.

Sophia Popova has been promoted to Partner. Sophia joined Summit’s Boston office as a Vice President in 2017 and is a member of the Technology team. Her investment and board experience includes Invicti Security, Klaviyo, Markforged (NYSE: MKFG), Mavrck, PrismHR (acquired by Stone Point), Sifted, StackAdapt and Ylopo. Prior to Summit, Sophia worked at Morgan Stanley and led product management at several technology startups, including Contactive. Sophia holds a BA in economics and mathematics from Yale University and an MBA, with distinction, from Harvard Business School.

Chris Bon has been promoted to Principal. Chris joined Summit’s London office as an Associate in 2016 and is a member of the Growth Products & Services team. His investment and board experience includes Energy Aspects, GRESB, Normec (acquired by Astorg), OnRobot, ProGlove (acquired by Nordic Capital) and Sipartech (acquired by Blackstone). Prior to Summit, Chris worked in M&A advisory at J.P. Morgan. Chris holds a BCom in economics from the University of Toronto and an MSc in finance from HEC Paris.

Ali Dowd has been promoted to Principal. Ali joined Summit’s Boston office as a Vice President in 2021 and is a member of the Healthcare & Life Sciences team. Her investment experience includes Veranex. Prior to Summit, Ali worked in the Healthcare Group at Thomas H. Lee Partners. Previously, she worked at TA Associates. Ali holds a BA in economics, cum laude, from Vanderbilt University.

Mark Hexamer has been promoted to Principal. Mark joined Summit’s Menlo Park office as a Vice President in 2014. As a member of the Talent & Recruiting team, Mark works with Summit’s portfolio companies and investment teams to identify and recruit high-impact senior executives and board members. Prior to Summit, Mark was a founding member of the venture capital and growth equity practice at executive search firm CTPartners, a partner at Fortis Partners and a cofounder of Swap.com and Sidebar Software. Mark holds a BA in history from the University of Notre Dame and a JD/MBA from Boston College.

Chelsea Jurman has been promoted to Principal. Chelsea joined Summit’s Boston office as a Vice President in 2019 and is a member of theGrowth Products & Services team. Her investment and board experience includes Adviser Investments, Brooklinen, Halborn and ShipMonk. Prior to Summit, Chelsea worked in Global Investment Research at Goldman Sachs, in the Technology group. Chelsea holds a BA in political science, magna cum laude and Phi Beta Kappa, from Yale University, and an MBA from Harvard Business School, where she was a Baker Scholar.

Nick Oppedisano has been promoted to Principal. Nick joined Summit’s Menlo Park Office as a Vice President in 2019 and is a member of the Technology team. His investment and board experience includes CoderPad, Foxen, Jobber, PriceLabs and Recharge. Prior to Summit, Nick worked on Goldman Sachs’ tech, media, telecom investment banking team and Centerview Partners’ tech investment banking team. Nick holds a BA in business administration, honors, from Ivey Business School and a BS in engineering from the University of Western Ontario.

Jono Pagden has been promoted to Principal. Jono joined Summit’s London office as an Associate in 2016 and is a member of the Healthcare & Life Sciences team. His investment experience includes Advance Medical (acquired by Teladoc), CluePoints, Fortis Life Sciences and zahneins (acquired by PAI Partners). Prior to Summit, Jono worked on the Retail/Healthcare and U.K. M&A teams at Goldman Sachs. Jono holds a Bachelor of Business Science, with honors, in accounting and finance from the University of Cape Town.

Jonathan Gilman has been promoted to Vice President. Jonathan joined Summit’s Boston office as an Associate in 2018 and is a member of the Healthcare & Life Sciences team. His investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), Fortis Life Sciences, InnovaCare Health, Leon Medical Centers, TurningPoint Healthcare Solutions and U.S. Renal Care. Prior to Summit, Jonathan worked in the Global Healthcare Group in the Investment Banking Division at Jefferies. Jonathan holds a BS in finance and economics from New York University’s Stern School of Business.

Andy Lee has been promoted to Vice President. Andy joined Summit’s Boston Office as an Associate in 2018 and is a member of theGrowth Products & Services team. His investment and board experience includes Beyond Risk and Patriot Growth Insurance Services. Prior to Summit, Andy worked for Fisher Lynch Capital and Fidelity Investments. Andy holds a BA, cum laude, in psychology from Dartmouth College.

Irina Müller has been promoted to Vice President. Irina joined Summit’s London office as an Associate in 2019 and is a member of the Technology team. Her investment experience includes Appway (acquired by FNZ), ProGlove (acquired by Nordic Capital) and Solactive. Prior to Summit, Irina worked in the M&A Group at Houlihan Lokey. Irina holds a BA in business administration and an MA in banking and finance from the University of St. Gallen.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $35 billion in capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.

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CHICAGO, Illinois — Syndigo, a leading provider of data management, syndication, and analytics to power eCommerce, today announced that Simon Angove has been named Chief Executive Officer. Paul Salay, who has been Chief Executive Officer for the last six years, will continue to support Syndigo’s Board of Directors, advising on company strategy and mergers & acquisitions.

Mr. Angove brings over 25 years of leadership experience building technology businesses, having both launched and grown innovative start-ups as well as run large companies in several industries, including retail, financial services, and the public sector. Most recently, Mr. Angove served as CEO of CentralSquare Technologies, a market leading provider of public safety software formed through the multi-billion-dollar merger of Superion and two other companies. Prior to leading CentralSquare, Mr. Angove was CEO of Superion where he led that company’s growth and transformation, helping to drive product innovation, optimize go-to-market execution, enhance operational excellence, and build a high-performing team. Prior to Superion, Mr. Angove led global business units focused on digital solutions at Verint, an omni-channel customer engagement software provider. Earlier in his career, he founded several businesses in the areas of cloud computing, retail in-store video analytics, and workforce optimization.

“I am incredibly excited to serve as Syndigo’s next CEO and to join the company at a time of exciting innovation and transformation in the eCommerce industry,” said Mr. Angove. “In partnering with our customers and team, I look forward to scaling Syndigo with a strong focus on customer centricity, product innovation, and world-class talent. I believe we are well positioned to help both brands and retailers optimize their data and content to drive success in the fast-growing and competitive eCommerce channel.”

“We are thrilled to welcome Simon as Syndigo’s next CEO, and we look forward to working closely with him as the company continues to pursue its ambitious goals for growth and customer success,” said Peter Rottier, Managing Director at Summit Partners and a member of the Syndigo Board of Directors. “Under Paul’s leadership, Syndigo established itself as a market leader in a new category of content optimization for eCommerce. We are grateful for his service, vision, and leadership and look forward to his continued guidance to the board as he transitions to an advisory role.”

“It has been an honor to lead and build Syndigo, together with our team, over the last six years. Syndigo has always been defined by our commitment to help customers optimize their content and digital assets in an age of eCommerce,” said Mr. Salay. “Today, I am as confident as I have ever been about the company’s future. I believe Simon is the right CEO to lead Syndigo through its next phase, and I look forward to supporting him and the team in the journey ahead.”

About Syndigo
Syndigo is the first Active Content Engine built to power modern commerce by enabling the continual flow of data and content throughout the entire commerce ecosystem. With industry-leading data management, syndication, and analytics, combined with the largest two-sided network for content distribution, we deliver accurate information that improves decision-making and accelerates sales on every shelf. Syndigo serves more than 12,000 manufacturers, and 1,750 retailers and distributors globally across key industries including grocery, foodservice, hardlines, home improvement/DIY, pet, health and beauty, automotive, apparel, oil & gas, and healthcare. Syndigo is backed by Summit Partners and The Jordan Company. For more information, visit www.syndigo.com or follow us on LinkedIn.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $35 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit has partnered with more than two dozen companies across the e-commerce and consumer landscape, including Brooklinen, Klaviyo, Philz Coffee, Reverb.com, Sezane, Sifted, TinyPrints, and MercuryGate. Summit maintains offices in North America and Europe and invests in companies around the world.For more information, please see www.summitpartners.com or Follow on LinkedIn.

About The Jordan CompanyTJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $18 billion since 1987 and a 40-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Technology, Telecom & Utilities, Supply Chain & Logistics, Industrials, and Consumer & Healthcare. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has offices in Chicago and Miami.

Growth investment led by Summit Partners to accelerate product development, go-to-market strategy and new market expansion

Tel Aviv and London – ImagenAI (“Imagen”), a leading provider of AI-powered editing solutions for professional photographers, today announced a $30 million investment led by global growth investor Summit Partners with participation from existing investor NFX. The financing will support continued investment in strategic hiring and M&A, expansion of the company’s SaaS product and further acceleration of Imagen’s rapid growth.

Imagen was founded in July 2020 to modernize and improve the post-production workflow of professional photographers by intelligently automating image editing at scale. The initial idea for the business originated from one of the co-founder’s months-long wait for his wedding photos. In speaking with numerous photographers, he uncovered a clear pain point felt across the broader industry: while advancements in digital photography had increased the volume of images captured and stored, post-production work was still largely repetitive and time-consuming, estimated at almost two hours for each hour of shooting time. Because each photographer has their own unique style, the process could not be automated generically with existing tools. With backgrounds in machine learning and computer science, the Imagen team recognized the opportunity to dramatically improve this workflow.

“We built Imagen to make photographers' lives easier. Our AI-powered solution is designed specifically to automate the tedious aspects of post-production work, allowing each artist to maintain and evolve his or her own creative style,” said Yotam Gil, co-founder and CEO of Imagen. “Imagen essentially creates time for our photographers, allowing them to focus on the artistry of their work and deliver a better experience for their customers.”

Imagen’s end-to-end AI technology creates an individual profile based on a photographer’s previous work and unique creative style. The more photos uploaded, with more diverse scenes and lighting conditions, the better the AI can capture each editing style and accurately predict dozens of editing parameters. Imagen’s solution can save up to 90% of post-production time and turns many hours of manual work to seconds, while preserving the personal style of each user. The profile evolves and learns with the user over time, allowing better accuracy and consistency in applying each photographer’s style to new photos ingested into Imagen.

Building on these AI-powered editing capabilities, Imagen plans to continue expanding its SaaS offering, including a near-term launch of a culling product that leverages a user’s AI-generated profile to select the best photos from a photoshoot to streamline the post-production process even further.

After a bootstrapped beginning, the Imagen team raised a seed round in September 2021 to support hiring and continued, rapid growth. Today, Imagen is profitable and counts thousands of photographers as part of its growing user community, helping these creative professionals to provide better service for their customers, scale up their own businesses and develop their own signature style. Imagen edits more than 150 million photos annually and saves millions of hours of manual work each month for a wide range of customers, from individual photographers to big studios to other creative businesses.

“We believe Imagen offers a truly innovative, intuitive solution for the professional photography industry with broad applicability to numerous genres across the creator economy where high volumes of digital assets are generated – from events, e-commerce and travel to real estate, sports, food and portraiture,” said Steffan Peyer, a Managing Director with Summit Partners, who has joined the Imagen Board of Directors. “We are excited to partner with this dynamic, smart and visionary team, and we look forward to working together to build upon the strong momentum they’ve established and help bring Imagen’s state-of-the-art technology to new markets.”

Photographers interested in using Imagen’s AI-powered editing solutions can visit www.imagen-ai.com.

About Imagen
Imagen is on a mission to change the photography industry with AI-powered solutions that modernize the post-production workflow, enabling professional photographers to plan better, work less, earn more, and focus on the creative aspects of their job. Thousands of professional photographers trust Imagen to accelerate their editing process so they can spend more time doing what they love. Learn more at www.imagen-ai.com or join the Imagen community on Instagramor Facebook.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $35 billion in capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world.

For more information, please see www.summitpartners.com or Follow on LinkedIn.

Acquisition Positions NRG as the Leading Essential Home Services Provider, Accelerating Growth Plan

HOUSTON & PROVO, Utah - NRG Energy, Inc. (NYSE: NRG) and Vivint Smart Home, Inc. (NYSE: VVNT) today announced they have entered into a definitive agreement under which NRG will acquire Vivint for $12 per share or $2.8 billion in an all-cash transaction with an implied multiple of 6.3x run-rate Enterprise Value to Adjusted EBITDA. The agreement has been unanimously approved by the boards of directors of both companies.

Vivint Smart Home is a leading smart home platform company whose mission is to help its nearly two million customers live intelligently by providing them with technology, products, and services to create a smarter, more efficient, and safer home. Vivint delivers an engaging customer experience through multiple devices united into a single expandable platform that incorporates artificial intelligence and machine learning into its operating system. The company’s vertically integrated business model includes hardware, software, sales, installation, support, and professional monitoring, enabling superior customer experiences and a complete end-to-end smart home experience.

The acquisition accelerates the realization of NRG’s consumer-focused growth strategy and creates the leading essential home services platform fueled by market-leading brands, unparalleled insights, proprietary technologies, and complementary sales channels. The transaction improves and diversifies NRG’s financial profile while also expanding the total market opportunity available to NRG. The annual run-rate Adjusted EBITDA, inclusive of $100 million of run-rate synergies, is $835 million.

“Last year at our Investor Day, we presented our strategic roadmap to becoming the leading provider of essential services for homes and businesses, informed by consumer trends and underpinned by disciplined execution,” said Mauricio Gutierrez, President and CEO of NRG. “The acquisition of Vivint is a transformational step in achieving our vision. Customers want simple, connected, and customized experiences that provide peace of mind. Vivint’s smart home technology strengthens our retail platform, improves our customer experience, and increases customer lifetime value. I am excited to welcome Vivint to the NRG family.”

“We are pleased to announce a transaction that delivers immediate and compelling cash value to Vivint’s stockholders while also presenting significant opportunities to drive our company’s continued success in the years to come,” said David Bywater, CEO of Vivint Smart Home. “Our agreement with NRG is the culmination of our Board’s ongoing pursuit of maximizing value for Vivint stockholders and is a testament to the strength of the Vivint brand, capabilities, and proven industry leadership. We look forward to working with NRG to create exciting opportunities for Vivint as part of a larger platform. On behalf of our Board and management team, I thank the hard-working Vivint employees for the significant role they have played in this important milestone.”

About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn, and follow us on Twitter @nrgenergy.

About Vivint
Vivint is a leading smart home company in the United States. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24-7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.9 million customers throughout the United States. For more information, visit https://www.vivint.com.

Source: Vivint and NRG. View complete release on BusinessWire.