Category Archives: News

The Carlyle Group Acquires 10% stake in Chinese home textile company Luolai Lifestyle Technology

Carlyle

Shanghai, China – Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has acquired a 10% stake in Luolai Lifestyle Technology Co., Ltd., a home textile company in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship $6.55 billion Asia fund focused on buyout and strategic investments across a range of sectors in Asia Pacific.

Founded in 1992, Luolai is a top player in China’s home textile industry. The company engages in the research and development, design, manufacture and sale of home textile products. Over the past 20 years, Luolai has established a retail network with almost 3,000 stores across 31 provinces and cities in China. It operates under its own brands, such as LUOLAI and LOVO, and has acquired and served as an agent for approximately 20 brands. Luolai was listed on the Shenzhen Stock Exchange in September 2009 (SZSE stock code: 002293).

Jason Xue, President of Luolai, said, “We are delighted to partner with Carlyle and look forward to leveraging the advantages of its global network and deep industry experience. We will work closely with Carlyle to execute new business strategies, further expand and grow our online and offline businesses, and capture future growth opportunities in China’s home textile industry.”

Nina Gong, Managing Director of Carlyle’s Asia Buyout advisory team, said, “Luolai is China’s top home textile provider with a strong and complimentary brand portfolio with high-quality products and an extensive store network. We believe that rising disposable income in China and the ‘consumption upgrade’ process will continue to deliver healthy growth in the home textile industry and for Luolai. We will leverage our expertise and portfolio in the consumer and industrial sectors to help the company expand its store network, enhance supply chain efficiency and brand equity.”

As one of the first and most active international private equity investors in China, Carlyle has invested more than US$9 billion of equity in over 100 transactions in China as of December 31, 2018.

* * * * *

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $216 billion of assets under management as of December 31, 2018, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.

Press Contact:

The Carlyle Group

Tammy Li
Phone: +852 2878 5236
Email: tammy.li@carlyle.com

Citigate Dewe Rogerson

Linda Pui
Phone: +852 3103 0118/ +852 9700 0178
Email: linda.pui@citigatedewerogerson.com

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PayScale Announces Majority Growth Investment from Francisco Partners at an Enterprise Value of $325 Million

Franciso Partners

nvestment Will Help the Cloud Compensation Software Provider Accelerate Growth and Innovation

Seattle, WA and San Francisco, CA – PayScale, Inc., the leading provider of SaaS-based compensation data, analytics and software, announced today a majority investment from Francisco Partners, a global technology-focused private equity fund. This investment will provide PayScale with a new financial partner to build upon the company’s strong momentum and help continue to drive product innovation.

PayScale has grown substantially in recent years as employees and employers alike increasingly demand modern compensation software that enables more data-driven compensation decisions, leading to greater pay transparency and equity. The company’s growth has coincided with the emergence of social movements demanding greater gender and racial equality (both broadly and with respect to the pay gaps that still exist), as well as the increasing scrutiny organizations are under to make their business operations match their recruiting rhetoric. The Seattle-based company pioneered the use of big data and unique matching and prediction algorithms to create the industry’s most advanced compensation platform, which has propelled PayScale to market leadership.

“We have made tremendous progress in delivering our promise to Bring Pay Forward and in the process have established PayScale as the clear market and technology leader in SaaS compensation management solutions,” commented Mike Metzger, Chief Executive Officer of PayScale. “This could not have been possible without the tireless efforts of our employees to drive superior customer outcomes and their dedication to contributing to the PayScale culture. The future of PayScale is bright and we look forward to welcoming Francisco Partners into the shareholder base.”

“Compensation-related friction continues to affect employers and employees globally,” said Adam Solomon, Principal at Francisco Partners. “The changing dynamics of the workforce, including the shift from Boomers to Millennials as the dominant cohort in today’s workplace and the entrance of Gen Z, has made it impossible for CEOs to leave compensation to chance. PayScale helps bridge the disconnect by enabling its more than 8,000 customers to make compensation decisions that are more rooted in data and aligned to business goals than ever before. With this compelling value proposition, PayScale is well-positioned to capitalize on the large market opportunity ahead of the company.”

Peter Christodoulo, Partner at Francisco Partners, added, “We are extremely excited to be partnering with PayScale as the company enters the next chapter of its growth story. The team is focused on its mission of helping companies align their compensation practices with their business goals and of easing the burden of communicating well about compensation to employees, and we look forward to supporting and furthering that vision.”

Warburg Pincus will be exiting its investment in PayScale in this transaction. “We are proud of PayScale’s significant growth over the past five years to become the leading cloud compensation data and SaaS provider in the space,” said Ashutosh Somani, Managing Director, Warburg Pincus. “As growth investors, we feel privileged to have partnered with Mike and the PayScale team and we wish the company continued success in the future,” added Justin Sadrian, Managing Director, Warburg Pincus.

Raymond James & Associates, Inc. acted as exclusive financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to PayScale and its Board of Directors. Kirkland & Ellis LLP acted as legal advisor to Francisco Partners. The transaction is subject to customary closing conditions and is expected to close within the next 15 days.

About PayScale

PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Encana, Patagonia, The New York Times, Sunsweet, T-Mobile, United Health Group, Wendy’s and Perry Ellis. For more information, please visit: www.payscale.com or follow PayScale on Twitter: twitter.com/payscale.

About Francisco Partners

Francisco Partners is an investment firm that specializes in technology and technology-enabled services businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information, please visit www.franciscopartners.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm’s active portfolio of more than 180 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 18 private equity funds, which have invested more than $74 billion in over 860 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com..

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Montagu Private Equity announces the completion of the sale of D.O.R.C.

Montagu

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announced the completion of the sale of Dutch Ophthalmic Research Center (“D.O.R.C.” or “the Company”), a leading provider of innovative instruments and equipment for ophthalmic surgery, to Eurazeo Capital. Terms of the transaction are not being disclosed.

Established in 1983, D.O.R.C. is a leading provider of innovative instruments and equipment for ophthalmic surgery. The product range includes high precision disposable and re-usable instruments, surgical liquids and surgical machinery that is used for vitreoretinal and cataract procedures. Headquartered in Zuidland, the Netherlands, D.O.R.C. serves a global customer base including surgical centres, hospitals and physicians across the US, Europe, the mid-East, Asia and South America. The Company has more than 500 employees worldwide.

 

The transaction was first announced on 13 March 2019 and has now received clearance from relevant competition and regulatory authorities.

 

Montagu was advised by HSBC and RBC Capital Markets.

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Latour divests its holding in Terratech

Latour logo

Investment AB Latour (publ) has today, through its wholly-owned subsidiary Latour-Gruppen AB, divested its entire shareholding in the part-owned holding Terratech. Buyer is the Swedish investment company Solix, which at the same time also acquires all the shares in Terratech from other owners. Solix is a long-term investor of Nordic industrial companies who can provide Terratech good conditions for continuing growth.

The divestment has derived from the fact that part of the sellers wished to find new owners to the company. The transaction will give Latour a return of about 300 per cent.

Göteborg, April 25, 2019

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 194 736

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 59 billion. The wholly-owned industrial operations has an annual turnover of about SEK 12 billion.  

Categories: News

EURAZEO CAPITAL completes its acquisition of DORC

Eurazeo

Paris, April 25, 2019 – Eurazeo Capital announces the completion of the acquisition of DORC (Dutch
Ophthalmic Research Center), one of the global leading specialists of vitreoretinal surgery. Headquartered
in the Netherlands, DORC designs, manufactures and distributes ophthalmic surgery equipment,
consumables and instruments worldwide. DORC enjoys strong market positions notably in Western
Europe, and more recently in the US.
DORC has a strong brand recognition and is widely recognized for its innovation track record. It has
delivered a consistently strong financial performance, supported by growing global ophthalmic surgery
needs.

In 2018, DORC generated revenues of €125 million, with an average annual growth rate of 9% over the
past 3 years. The transaction consists in the acquisition of 100% of the share capital of DORC and will be
the fifth investment of Eurazeo Capital IV. The company is valued at c. €430 million (enterprise value), of
which c. €300 million equity funded by Eurazeo and its affiliates.

About Eurazeo
o Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under
management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable
private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies
of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector
expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid
institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment
horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and
Madrid.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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K1 Sells Public Safety Software Leader Rave Mobile Safety

K1

LOS ANGELES, April 25, 2019 (GLOBE NEWSWIRE) — K1 Investment Management (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced the sale of its portfolio company, Rave Mobile Safety, to funds affiliated with TCV. As a K1 portfolio company, Rave became the category leader in public safety software sold to the higher education, government, K-12 and corporate markets.

During its ownership, K1 expanded the Rave management team, refined its go-to-market strategy, and strengthened its product portfolio on key solutions for pressing safety needs, including addressing the growing need for improved school safety with Rave Panic Button. Additionally, Rave consolidated a fragmented industry landscape through strategic acquisitions, bringing together three additional companies under the platform’s umbrella, broadening its market reach and delivering a comprehensive product suite to its customers.

Representative clients of Rave include the City of Chicago, Washington D.C. Schools, the City of Cincinnati, Iowa State University and the City of Virginia Beach.

“K1 was instrumental in guiding us toward furthering our mission of better connecting organizations with those they protect through innovative software that enhances public safety and helps save lives,” says Todd Piett, CEO of Rave. “The team’s operational and strategic guidance allowed us to drive organizational health, accelerate product innovation and strengthen our go-to-market. Without K1’s involvement, we would not have been able to achieve such rapid growth. I am incredibly optimistic about the future of Rave and couldn’t be happier with the effort and results achieved by the Rave and K1 teams.”

“It has been a pleasure working with Todd and the Rave team over the last three years on tripling revenue and building the preeminent provider of emergency notification and safety solutions for education, government and corporate customers,” says Taylor Beaupain, Managing Partner at K1. “We have high confidence that Rave will continue delivering outstanding value to customers and wish them continued success.”

Raymond James & Associates acted as exclusive financial advisor to Rave Mobile Safety.

About Rave Mobile Safety

Rave Mobile Safety provides the leading critical communication and data platform trusted to help save lives. Used by leading education and healthcare institutions, enterprises and state and local public safety agencies, the award-winning Rave platform including Rave Alert™, Rave 911 Suite™, Rave Panic Button™, Rave Guardian™, Rave Prepare™, Rave Eyewitness™ and Swift911™ and SwiftK12™ protects millions of individuals. Rave Mobile Safety is headquartered in Framingham, MA. For more information, please visit https://www.ravemobilesafety.com.

About K1

K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1’s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Checkmarx, ChiroTouch, Chrome River, Clarizen, Granicus, IronScales, Jobvite, Litera Microsystems, Onit, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit www.k1capital.com or www.linkedin.com/company/k1im.

Media contact:
Kevin Wolf
TGPR
(650) 483-1552
kevin@tgprllc.com

Source: https://www.globenewswire.com/news-release/2019/04/25/1809876/0/en/K1-Sells-Public-Safety-Software-Leader-Rave-Mobile-Safety.html

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Edison Partners Leads $8 Million Growth Investment in Suuchi

Edison Partners

Accelerates go-to-market execution, product innovation and network expansion for next-generation supply chain platform for fashion brands and retailers

 

PRINCETON, NJ—April 25, 2019—Edison Partners, the growth equity investment firm, today announced an $8 million growth investment in Suuchi, the next-generation supply chain platform provider for fashion brands and retailers. The company will use the funds to accelerate go-to-market execution and product innovation, as well as continue to expand its network of designers, materials suppliers and factories throughout the United States.

 

In the $2 trillion global apparel manufacturing market, the need to shrink the time from concept to consumer is prompting more fashion brands and retailers to seek supply-chain modernization. Suuchi delivers a next-generation approach to apparel supply chains that streamlines the connection of design and sourcing to US-based shop-floor manufacturing and provides complete, real-time transparency throughout the entire process.

 

“Time is the biggest risk factor for fashion brands and retailers in today’s supply chain, and legacy systems and processes continue to hinder time to market, not to mention growth, profits and consumer experience,” said Kelly Ford, Partner, Edison Partners, who led the investment and joins the company’s board of directors. “Suuchi is changing the game for apparel brands of all sizes, with a network-driven SaaS platform that makes not only speed, but also profitability, possible with ‘made in the USA.’”

 

Suuchi’s platform is a modern, intuitive SaaS-based application, called Suuchi GRID, powered by a curated network of 200+ freelancers, materials suppliers, and U.S.-based factories with a current available capacity of more than 8M units. Today, more than 200 fashion businesses, from large brands, like Cintas, to mid-tier and emerging brands, like Little Giraffe, are streamlining their supply chain workflows and production on the platform.

 

“We are reducing fashion supply chain complexity and time to market for brands and retailers by creating a more intelligent bridge between supply and demand; and with our shop-floor subject matter expertise, we are dematerializing the supply chain into a digital, made-local model,” said Suuchi Ramesh, founder and CEO of Suuchi. “With this investment, we are poised to provide a scalable answer to one of the world’s last trillion-dollar problems yet to be solved. In Edison Partners, and Kelly Ford, we have the perfect trifecta of strategic vision alignment, enterprise solutions experience, and a world-class team of operating experts to guide our fast growth.”

 

Ramesh, an immigrant from India, started the company in 2016 after 10-plus years in successful roles in technology, analytics and sales at two companies that became unicorns in their industries. She was an EY Entrepreneur of the Year for New Jersey in 2018 and named to the ROI-New Jersey Influencers Power List for 2019. Last year, the company was also awarded NJ Grow innovation incentives by the New Jersey Economic Development Authority to further develop its business in the state. The company currently employs 120 people at its North Bergen headquarters and is actively hiring for positions in sales, marketing, software engineering, human resources and finance.

 

Edison Partners has financed and guided more than 200 private companies throughout the eastern United States, a third of which have been in the enterprise solutions space. Suuchi is the 48th investment in the firm’s home state of New Jersey. In addition to Suuchi, Edison’s active NJ-based investments include Northpass, Scivantage, Trialscope and Zelis Healthcare.

 

About Suuchi

Suuchi Inc. is a next-generation supply chain platform for fashion brands and retailers. Using its product lifecycle management (PLM) application, Suuchi GRID, and its network of carefully curated freelancers, factories and mills, Suuchi designs and produces millions of units at speedy turnarounds. Suuchi is transforming retail, enabled by mega trends of just-in-time production, shop-floor integration, and supply chains created for consumer demand. For more information, visit https://www.suuchi.com/

 

About Edison Partners

For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.

 

Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.

 

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3i European Operational Projects Fund deploys capital in Portugal, Italy, Ireland and Germany

3I

3i European Operational Projects Fund deploys capital in Portugal, Italy, Ireland and Germany

3i Group plc (“3i”) today announces that the 3i European Operational Projects Fund (“3i EOPF” or “the Fund”), has agreed to invest over €100m in four projects across Europe, taking total investment to c. 40% of the fund within a year of final close:

  • Cascais Hospital
  • MFM Capital
  • DISA Assets Limited
  • Fermoy and Limerick motorways

The Fund has acquired a 90% stake in TDHOSP – Gestao do Edificio Hospitalar, S.A., the concessionaire in charge of the design, build, financing, operation and maintenance of Cascais Hospital, a 277-bed facility located close to Lisbon. The stake was acquired from Teixeira Duarte Group, a Portuguese construction company, who will retain a minority stake. The concession was granted by the Portuguese State in 2008 with a duration of 30 years, and became operational in February 2010.

3i EOPF has also completed the acquisition of a 95% stake in MFM Capital, a portfolio holding company, from Rekeep SpA (formerly Manutencoop Facility Management). The portfolio comprises stakes in four hospitals located in Monza, Legnano, Verona and Modena, the Terza Torre office accommodation building in Bologna (in which 3i EOPF already owns a stake) and an electricity efficiency project in Alessandria.

The Fund has completed the acquisition of DISA Assets Limited, which leases a fleet of 54 new Alstom passenger trains to Abellio Rail Mitteldeutschland GmbH in Germany. DISA Assets Limited was sold by NS Financial Services, part of the Dutch railway group NS. The 14 year concession was granted by three local Public Transport Authorities and became fully operational in December 2018. This is a stable asset with an attractive yield profile and builds on 3i’s successful investments in the rail sector.

Lastly, the Fund, alongside infrastructure investor TIIC, has signed an agreement to invest in two motorway projects in the Republic of Ireland. The two projects are Fermoy, a 17.5km section of the M8 motorway between Dublin and Cork, and Limerick, a 10km section of the M7 ring road around the city of Limerick, including a 675m tunnel under the Shannon river. The concession contracts, granted by Transport Infrastructure Ireland, will run until 2034 and 2041 respectively.

Stephane Grandguillaume, Partner in charge of origination for the Fund, commented: “These projects are a good fit for 3i EOPF and complement the Fund’s existing portfolio. They are high quality, yielding projects which improve the diversification of the Fund.”

Phil White, Managing Partner and Head of Infrastructure, 3i Investments plc, added:

“We have made good progress in constructing a well-balanced portfolio for 3i EOPF through 3i’s pan-European projects platform active in eight countries in Western Europe.”

3i EOPF, which is managed by 3i’s infrastructure team, is a €456m fund investing in operational projects across Europe, with a focus on France, the Benelux, Germany, Italy and Iberia.  It targets a wide range of sub-sectors, primarily social infrastructure and transportation, but also telecoms and utilities. It aims to provide long-term yield to institutional investors.

-ENDS-

Download this press release  

 

For further information, contact:
3i Group plc

Thomas Fodor
Limited Partner enquiries		 Tel: +44 20 7975 3469
Email: thomas.fodor@3i.com
Silvia Santoro
Investor enquiries		 Tel: +44 20 7975 3285
Email: silvia.santoro@3i.com
Kathryn van der Kroft
Media enquiries		 Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

 

Notes to editors:

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About 3i’s Infrastructure business

3i is a leading infrastructure investor, with a track record of investing in infrastructure since 1987. The team of approximately 35 investment professionals manages or advises c.£3.7 billion of assets through a number of infrastructure investment vehicles, including 3i Infrastructure plc, 3i India Infrastructure Fund, 3i EOPF, 3i MIA and BIIF.

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ServiceTitan Partners with Financeit to Offer Integrated Financing for Canadian Customers

TTVcapital

No. 1 home service business management software teams up with No. 1 Canadian home services lending platform to provide integrated, mobile-friendly financing options for customers

LOS ANGELES, April 24, 2019 /PRNewswire/ — ServiceTitan, the world’s leading all-in-one software for home service businesses, has partnered with Financeit, one of North America’s fastest growing point-of-sale payment plan providers, to give Canadian home service contractors the ability to offer immediate, integrated financing options to homeowners.

“Alleviating home renovation debt and accelerating the home improvement business is an important focus for Financeit,” said Michael Garrity, founder and CEO of Financeit. “Through this partnership, we’re providing ServiceTitan’s Canadian customers an integrated and efficient way to finance any project quickly and hassle free, beneficial to both homeowners and contractors.”

Financeit’s integrated platform aims to accelerate the decision-making process, especially when it comes to home improvement projects. The platform offers homeowners the opportunity to explore a premium option with a trusted and reliable point-of-sale lending platform.

ServiceTitan customers can more successfully pitch upgrades and higher-end models, eliminate tedious manual paperwork and allow homeowners to immediately see all payment details, and complete projects more quickly and efficiently.

“We’ve been getting requests from our Canadian customers about building financing for this market ever since we were able to offer a similar integration here in the U.S.,” said Ara Mahdessian, co-founder and CEO of ServiceTitan. “The success of integrated financing state-side has been phenomenal. We’ve seen that contractors who use integrated financing grow their average ticket by 13% while growing gross revenue by 21%. We look forward to seeing the positive impact this will have for our Canadian contractors and their bottom line.”

Financeit’s integrated platform is immediately available to current ServiceTitan and Financeit customers. To get setup, email financing@servicetitan.com.

ServiceTitan customers who are not yet Financeit customers can apply to become an approved Financeit merchant here: https://www.financeit.io/servicetitan/.

About Financeit
Financeit is a market-leading point-of-sale financing provider servicing the home improvement, vehicle and retail industries. In 2017, the closing of an investment round by Goldman Sachs and the acquisition of Centah Inc. – a market-leading technology platform and call centre infrastructure – assisted in the increase of Financeit’s overall offering in the marketplace and continues to allow the company to provide merchants with an end-to-end solution to increase sales. Since launching in 2011 the platform has attracted over 7,000 merchant partners and processed over C$3.6 billion in loan applications. The company was recently awarded the Deloitte Technology Fast 500, recognizing the world’s top fintech businesses.

For more information about Financeit, contact Remy Delima, A&C, at 416.966.4321 or remy@acteam.ca.

About ServiceTitan
ServiceTitan is a software company built to accelerate the $400B home service sector. ServiceTitan’s end-to-end software suite includes CRM, intelligent dispatch, custom reporting, marketing automation, a mobile solution for field techs, and accounting integrations with Sage Intacct and QuickBooks. ServiceTitan raised the largest venture round of a SaaS company in the history of Southern California ($165 million Series D) led by Index Ventures, with participation from Dragoneer and T. Rowe Price and existing investors Battery Ventures, Bessemer Venture Partners and ICONIQ Capital. ServiceTitan brings a fully operational modern SaaS infrastructure to an industry traditionally underserved by software, making direct and positive impact on the lives of thousands of entrepreneurs and their extended teams. For more information about ServiceTitan, visit https://servicetitan.com/.

Media Contact:

Heather Ripley

Ripley PR

865-977-1973

hripley@ripleypr.com

SOURCE ServiceTitan

Related Links

http://www.servicetitan.com

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ChurnZero Raises $7M in Series A Funding Round to Build the Customer Success System of Record

Baird Capital

ARLINGTON, VA. (PRWEB) APRIL 23, 2019

ChurnZero, a real-time Customer Success platform, has announced that it secured $7 million in Series A funding led by Baird Capital. Returning investors in the round include Grotech Ventures, Middleland Capital, Charlottesville Angel Network and Center for Innovative Technology. The latest investment round will be used to support all of ChurnZero’s efforts. The team will invest in growing the Customer Success ecosystem, accelerate and deepen product development in the award-winning ChurnZero platform, and support customer facing teams in delivering the best Customer Success and Support among their peers.

The ChurnZero solution helps subscription businesses fight customer churn, expand their current accounts, increase product adoption and optimize the overall customer experience.

“At Untappd, we pride ourselves in delivering great Service and Customer Success to our brewery, restaurant and retail customers and we have been blown away with ChurnZero’s level of Customer Success as well as the care and thought they put into their product,” said Jeremy Jeffers, VP of Customer Success, Untappd. “We have seen a large improvement on the level of customer touchpoints our Customer Success Managers are able to do today versus before and we have seen a massive increase in retention for our small and medium-sized accounts.”

“Building a Customer Success platform that integrates data and customer touchpoints from a myriad of sources, generates insights and analytics, and kicks off workflows and communications is a tough technical project and is a proud achievement for our team,” said You Mon Tsang, Co-founder and CEO of ChurnZero. “But our real achievement is creating a happy and successful customer base. Our growth has been testament to our efforts so far and I am thrilled to have Baird Capital as partners to invest further in the company and in the ecosystem.”

In connection with the investment, Joanna Arras of Baird Capital has joined ChurnZero’s board of directors. “Customer Success is a persistent issue for companies in a variety of industries, and we are beginning to see the emergence of best practices to professionalize and scale Customer Success teams,” said Arras. “The market for Customer Success software is relatively nascent; as such we are excited to partner with ChurnZero to create the enterprise’s next great system of record.”

This investment brings the total funding that ChurnZero has raised to date to $10 million.

Since its founding in 2015, ChurnZero has modernized and empowered Customer Success, Account Management, and Customer Marketing teams to proactively engage with customers in an on-going and automated way to work towards their business outcomes. ChurnZero is dedicated to helping their ever-growing customer base fight churn.

                                                                                             ###

About ChurnZero
ChurnZero helps subscription businesses fight customer churn. Its software solutions allow businesses to understand how their customers use their product, asses their health and their likelihood to renew, and give businesses the means to personalize the customer experience through timely and relevant touchpoints. ChurnZero is headquartered in Arlington, VA and is backed by leading angles and venture capital firms such as Baird Capital, Grotech Ventures and Middleland Capital. For more information, visit churnzero.net.

About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Incorporated. For more information, please visit BairdCapital.com.

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