News from Summit and Our Portfolio

ROTTERDAM, THE NETHERLANDS and LONDON, UK – Global growth equity investor Summit Partners today announced a majority investment in Viroclinics Biosciences B.V., a leading specialized contract research organization (CRO) serving the global biopharmaceutical industry. The funding will be used to fuel continued expansion of Viroclinics’ services, capacity and international presence.

Viroclinics is a leading provider of specialized non-clinical and clinical services to the global virology therapeutics and vaccine development market. Founded in 2001 within the Erasmus Medical Center in Rotterdam, Viroclinics offers a full range of services to support and accelerate the market entry of new drugs, vaccines and antivirals from discovery to launch. Viroclinics is recognized as a global leader in the provision of respiratory infectious disease research services, with specialization in influenza and other viral targets, including RSV and polio.

“With the increasing global attention on respiratory infectious diseases, Viroclinics’ mission has only grown in its importance,” said Bob van Gemen, CEO of Viroclinics. “Summit Partners brings significant resources, deep healthcare experience and a global reach that will support Viroclinics’ expansion into new specializations and geographies as we seek to broaden our services and capacity worldwide.”

Viroclinics has grown significantly since 2011 when Bob van Gemen joined the company as CEO. Today, the company is a leader in anti-viral and vaccine testing, serving the global pharmaceutical industry through four testing laboratories in Europe and China as well as a global network of processing facilities across 20 countries to coordinate sample collection in strategic regions worldwide. With its recent acquisition of DDL Diagnostic Laboratory, Viroclinics employs 240 specialized scientists, researchers and support staff.

“Viroclinics is a truly global CRO provider of immunology laboratory services with a differentiated set of capabilities,” said Thomas Tarnowski, a Managing Director with Summit Partners, who has joined the Viroclinics Board of Directors. “As a leading lab services provider with a reputation for service excellence and clinical expertise recognized across the biopharmaceutical industry, we believe Vircolinics is ideally positioned to continue its rapid expansion and ability to provide best-in-class support for therapeutic and vaccine development. We are excited to partner with Bob and the rest of the Viroclinics team in this next chapter of growth.”

About Viroclinics Biosciences
Viroclinics Biosciences is a leading virology contract research organization, serving the biopharmaceutical community with a broad range of preclinical, clinical diagnostic, assay development and clinical trial logistics services. Operating at a global level, Viroclinics is the preferred virology testing laboratory for several of the top-10 biopharmaceutical companies. Viroclinics’ extensive experience with clinical and preclinical studies for viruses, including its specialty in respiratory viruses, puts the company at the forefront in supporting the development of vaccines, antibodies and antiviral compounds targeting viral infectious diseases. Visit www.viroclinics.com for more information.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare and other growth industries. Notable life sciences companies financed by Summit Partners include Advanced Cell Diagnostics, Clontech, Integrated DNA Technologies, Fermentas International and LakePharma. 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.

BOSTON, MA; MENLO PARK, CA and LONDON, UK – Summit Partners, a leading alternative investment firm, today announced the promotion of five professionals globally. Scott Ferguson and Sergio Mur were promoted to Principal; and Chris Bon, Olivia Ley and Jono Pagden were promoted to Vice President.

“We are pleased to recognize the achievements of Scott, Sergio, Chris, Olivia and Jono with these well-deserved promotions,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “These talented professionals have served our limited partners and our portfolio companies with distinction. We are proud of the positive impact they’ve made at Summit Partners and beyond.”

Scott Ferguson has been promoted to Principal. Scott joined Summit as an Associate in 2009, was promoted to Senior Associate in 2012 and returned to Summit as a Vice President in 2015. Scott is based in Summit’s Menlo Park office and focuses primarily on the technology sector. His board and investment experience includes Calypso Technology, HelpSystems (acquired by H.I.G. Capital), MercuryGate, Perforce Software (acquired by Clearlake Capital), Teaching Strategies and Trintech. Prior to Summit, Scott worked for Piper Jaffray in the Technology Investment Banking Group. He holds a BS in finance from the University of Kansas and an MBA from the Kellogg School of Management at Northwestern University.

Sergio Mur has been promoted to Principal. Sergio joined Summit’s London office as a Vice President in 2016. He has been an active member of Summit’s Peak Performance Group, leading engagements with numerous Summit portfolio companies including Advance Medical (acquired by Teladoc), Signavio, DentalPro (acquired by BC Partners), Syncron and Siteimprove. Prior to Summit, Sergio worked as a Vice President of European Operations at Cerberus Capital, in business development at Privalia (acquired by vente-privee.com), planning and analysis at TJX Companies (NYSE: TJX) and M&A at J.P. Morgan. Sergio holds a CEMS Master in international management from St. Gallen University in Switzerland and a Master in business management from ESADE Business School in Spain.

Chris Bon has been promoted to Vice President. Chris joined Summit’s London office as an Associate in 2016 and was promoted to Senior Associate in 2019. He is a member of the firm’s Growth Products & Services team. His investment experience includes Normec, OnRobot, ProGlove and Sipartech (acquired by Blackstone). Prior to Summit, Chris worked in M&A advisory at J.P. Morgan. He holds a BCom in economics from the University of Toronto and an MSc in finance from HEC Paris.

Olivia Ley has been promoted to Vice President. Olivia joined Summit’s Menlo Park office as an Associate in 2017 and was promoted to Senior Associate in 2019. She is a member of the firm’s Healthcare & Life Sciences team. Her portfolio experience includes Healthline Media (acquired by Red Ventures) . Prior to Summit, Olivia worked at Castlight Health and The Advisory Board Company. She holds a BA in English literature from Princeton University.

Jono Pagden has been promoted to Vice President. Jono joined Summit’s London office as an Associate in 2016 and was promoted to Senior Associate in 2019. He is a member of the firm’s Healthcare & Life Sciences team. Jono’s investment experience includes Advance Medical (acquired by Teladoc) and zahneins (acquired by PAI Partners). Prior to Summit, Jono worked on the Retail/Healthcare and U.K. M&A teams at Goldman Sachs. He holds a Bachelor of Business Science, with honors, in accounting and finance from the University of Cape Town.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare, consumer, financial and business services, and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more Summit stories and to learn about #TheSummitPartnersNetwork, visit 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.

BOSTON, MA and MENLO PARK, CA — Global growth equity investor Summit Partners today announced the addition of Melanie Whelan, former CEO of SoulCycle, to the firm’s Executive-in-Residence (“EIR”) program. In this role, Ms. Whelan will work closely with the Summit team to identify new investment opportunities in high-growth consumer and specialty retail brands, and to serve as an advisor to Summit.

“Melanie is a builder and leader of companies that thrive on unique consumer experiences and shared community,” said Greg Goldfarb, a Managing Director with Summit Partners. “She understands how modern consumer businesses build and leverage passionate online and offline communities, and she is deeply invested in developing exceptional leadership teams. We are thrilled to bring her perspective and experience to Summit as an EIR.”

Ms. Whelan joined SoulCycle in 2012 as COO and spent three years building and leading the operation before her promotion to CEO in 2015. Under her direction, SoulCycle grew from eight NYC-based studios to nearly 100 studios in 18 markets across three countries. Over the last two years, she led the company's diversification efforts, which included expanding the retail business through launch of a vertically-integrated, direct-to-consumer e-commerce platform and building a media division to drive audience and revenue growth strategies, including a 24/7 SiriusXM channel.

Prior to joining SoulCycle, Melanie led Business Development for Equinox where she was part of a team that executed a multi-brand strategy with the U.S. launch of Pure Yoga, the creation of Blink Fitness and the acquisition of SoulCycle. Earlier in her career, she was a member of the founding team of Richard Branson's U.S. air carrier Virgin America and worked in corporate development at Starwood Hotels and Resorts. Today, Melanie serves on the Board of Directors of Chegg, the publicly traded education learning company, and the GO Project, a non-profit focused on education inequity in New York.

“Summit has a strong history of partnering with innovative, high-growth consumer businesses that are leveraging technology and the power of community to expand their reach,” said Ms. Whelan. “I’ve long admired Summit for their focus on brands and management teams and the firm’s long-term approach to partnership. I’m excited to work alongside the Summit team to identify the next great entrepreneurial opportunities and to serve as an advisor to the firm.”

Summit has been active in the consumer sector for more than three decades, with a focus on specialty retail and high-growth consumer brands. Summit has partnered with more than two dozen companies across the e-commerce and consumer landscape, including Club Champion, Morphe, Philz Coffee, Quay Eyewear, Reverb.com, Sezane, onXmaps, TinyPrints and Physicians Formula.

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 teams, 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 $19 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 500 companies in technology, healthcare, consumer, financial and business services, and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more Summit stories and to learn more about #TheSummitPartnersNetwork, visit 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.

MANSFIELD, MA and BOSTON, MA – eClinical Solutions LLC, a leading global provider of cloud-based enterprise software and software-driven clinical data services, announced that it has received a minority investment from global growth equity firm Summit Partners. The financing allows eClinical Solutions to support and further expand the growth of its cloud-based Clinical Data Hub platform, elluminate®, and elluminate-enabled data services.

eClinical Solutions helps accelerate the clinical development process, providing clinical data software and technology-enabled data services to more than 100 life sciences organizations. The company’s proprietary Clinical Data Hub, elluminate, helps life sciences organizations integrate and unify all clinical data sources seamlessly, providing real-time data visibility, traceability, transformation and analysis. With hundreds of clinical trials on the platform, elluminate is designed to empower organizations to maximize the value of their clinical data, regain control of the clinical research process and proactively make decisions regarding clinical trials.

“We are delighted to partner with Summit as we enter a new phase of growth,” stated Raj Indupuri, Co-Founder and CEO of eClinical Solutions. “Summit has a long history of helping to accelerate growth and scale businesses. We believe their deep experience in the life sciences and HCIT markets will help propel eClinical Solutions to the next level.”

“Biopharmaceutical companies collect millions of data points throughout a clinical trial; ingesting and normalizing data from a variety of vendors is a complicated, time consuming process – one that often extends the time-to-market for a new drug. We believe the elluminate platform addresses this challenge head on, offering a more holistic view of data across the clinical trial process,” said Mark deLaar, a Managing Director with Summit Partners who has joined the eClinical Solutions Board of Directors.

Jesse Lane, a Principal with Summit Partners who has also joined the Company’s Board, added, “eClinical Solutions is led by an impressive and highly regarded management team with a demonstrated record of excellence and extensive knowledge of the clinical development technology market. We have gotten to know the eClinical Solutions team well over the course of the last several years, and we are honored to partner with Raj, Bob and the entire organization."

“We founded eClinical Solutions with a mission to help bring new treatments to patients faster, and we’re seeing overwhelming market demand for our solutions,” said Bob Arnesen, Co-Founder and President of eClinical Solutions. “The elluminate platform is designed to provide one source of truth for all clinical data along with intuitive data mapping and comprehensive analytics across data sources. Summit immediately understood our market and our vision. They have already been instrumental in accelerating our journey.”

eClinical Solutions will continue to work to drive efficiency for its customers in the pharmaceutical, biotechnology and medical device industries and to help clients navigate the difficulties of the clinical development process. An established market leader in technology-driven clinical data management, eClinical Solutions has deep experience supporting clinical trials across all phases and therapeutic areas.

About eClinical Solutions LLC
eClinical Solutions is a leading global provider of cloud-based enterprise software and software-driven clinical data services. The elluminate® platform provides life sciences companies with greater control of their clinical trial data. elluminate software and data-driven services have been used by more than 100 life sciences companies on more than 500 trials. For more information, visit www.eclinicalsol.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare and other growth industries. Notable life sciences and HCIT companies financed by Summit Partners include Advanced Cell Diagnostics, Clontech, Integrated DNA Technologies, Fermentas International, LakePharma, Modernizing Medicine and Wellcentive. 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.

FORT WASHINGTON, PA. -- Patriot Growth Insurance Services, LLC (“Patriot”), one of the country’s largest and fastest-growing national insurance agencies, today announced the addition of Solomon & Solomon Insurance Brokers, Inc. (“Solomon & Solomon”) to the Patriot platform. The partnership with Solomon & Solomon significantly bolsters Patriot’s existing property and casualty insurance capabilities and strengthens the company’s large and growing footprint in the state of California.

Based in Laguna Hills, California, Solomon & Solomon is an independent insurance agency that provides a vast array of property and casualty, employee benefits and risk management products for clients operating in a variety of industries including manufacturing, real estate, wholesale & distribution, food services, healthcare, contractors and professional services. Rich and Shawn Burnstein lead a dynamic team of 18 insurance professionals who are committed to delivering the best solutions while building lasting client relationships.

“The Patriot team has consistently demonstrated an intense passion and understanding for the values that are deeply ingrained within our business: integrity, honesty, respect, excellence and teamwork,” said Rich Burnstein, Founder and President of Solomon & Solomon.

“Great chemistry and shared values are the foundation for building successful relationships. These core values were important factors in our decision to become a part of the Patriot family. We’re looking forward to what the future holds and reaching new heights together with Patriot,” added Shawn Burnstein, Senior Vice President of Solomon & Solomon.

“In today’s market, high-quality agencies have a lot of choices for partners to help them reach the next level, and Solomon & Solomon was no exception. Our team worked closely with Rich and Shawn for over a year to ensure the cultural and operational fit, and we are ecstatic about the outcome,” said Matt Gardner, Founder and CEO of Patriot. “We extend their employees and clients a very warm welcome, and we are excited to help them continue to grow the agency within the Patriot family.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. With approximately 500 professionals operating in 44 locations across 12 states, Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

Investment announced as leading third-party Office 365 data management SaaS provider books four consecutive quarters of record revenue growth

Jersey City, New Jersey — AvePoint, the leading provider of data governance, protection and migration solutions for Office 365 and SharePoint, today announced approximately $200 million in commitments from new minority equity investors to fuel its global growth and expansion, as well as partially recapitalize long-term shareholders. The capital raise was led by a substantial Series C Preferred Equity investment from TPG Sixth Street Partners with additional participation from both new and existing investors, including Goldman Sachs.

AvePoint continues to experience outstanding growth driven by the rise in adoption of Office 365 and other cloud office solutions. AvePoint’s most popular solution, Cloud Governance, helps organizations better govern and secure Microsoft Teams, the fastest growing business application in Microsoft’s history. The company is also the only scaled vendor that provides Microsoft Teams backup solutions as well as Slack to Teams migration solutions and services.

Today, more than 7 million cloud users and 16,000 large enterprises across all seven continents trust AvePoint software and services for their data management, protection and migration needs.

AvePoint plans to use its latest round of funding to accelerate its growth and investment into its channel offerings that provide managed service providers (MSPs) the tools to better migrate, manage and protect the Office 365 environments of their small and medium business clients. AvePoint aims to add more than 40,000 customers through the channel in the next two years.

MSPs can currently purchase AvePoint solutions from a wide variety of distribution partners including Synnex, TechData, and Intcomex. In July 2019, global distributor Ingram Micro announced AvePoint as its exclusive migration and backup solution provider as part of its Modern Workplace Accelerate program.

“A huge driver of our growth has been our own digital transformation into a majority SaaS solution company,” said Tianyi Jiang, co-founder and co-CEO, AvePoint. “We have invested in our cloud platform to ensure that we have the scale, pace of innovation, API extensibility and security to meet our customer’s demands. This strategic focus has played a large role in delivering four consecutive quarters of record revenue growth in 2019.”

The senior management team, including co-founders and co-CEOs Kai Gong and Tianyi Jiang, will continue to lead the company. Michael McGinn, Partner and Co-Head of Capital Solutions at TPG Sixth Street Partners, will join AvePoint’s board of directors.

“Through its investment in innovation and reputation for reliability, AvePoint has positioned itself to take advantage of the tremendous opportunities presented by the rapid and widespread adoption of cloud office solutions,” said Mr. McGinn. “We look forward to partnering with their senior leadership as they continue their focus on meeting their customers’ needs and driving the company towards its next phase of growth.”

AvePoint employs more than 1,500 people with offices in the United States, United Kingdom, Germany, France, Singapore, Australia, Netherlands, China, Japan, Philippines and more.

About AvePoint
AvePoint accelerates your digital transformation success. Over 16,000 companies and 7 million SharePoint and Office 365 users worldwide trust AvePoint software and services for their data migration, management, and protection needs in the cloud, on-premises and hybrid environments. A four-time Microsoft Partner of the Year, AvePoint is a Microsoft Global ISV Partner and has been named to the Inc. 500|5000 six times and the Deloitte Technology Fast 500™ five times. Founded in 2001, AvePoint is privately held and headquartered in Jersey City, NJ.

TPG Sixth Street Partners
TPG Sixth Street Partners ("Sixth Street") is a global finance and investment business with over $33 billion in assets under management and TSSP Capital Solutions (“Capital Solutions”) is its dedicated growth investing platform. Capital Solutions makes customized, non-control private investments in growth-oriented companies. The team partners with companies and management teams to provide bespoke, accretive financing solutions that often fall between traditional growth equity and commercial debt. Sixth Street has invested over $3 billion in more than 35 growth-oriented companies in its Capital Solutions strategy since inception. Select current and past representative Capital Solutions investments include AirTrunk, AvidXchange, Gainsight, Kyriba, Lucidworks, Paycor, PayScale, PaySimple and Spotify. For more information, visit www.tssp.com/tcs.

Source: AvePoint

More than 4.5 million users worldwide are growing their businesses with Odoo

GRAND-ROSIÈRE, BELGIUM and SAN FRANCISCO, CA – Odoo, a leader in open source all-in-one business software, announced today that it has closed a $90 million minority investment led by global growth equity investor Summit Partners, with participation from Odoo’s executive management team and existing investor SRIW and its affiliate Noshaq. New investor Summit Partners joins management and current shareholders, including SRIW, Sofinnova and XAnge in supporting Odoo’s rapid product development pace and continued global expansion.

With more than 4.5 million users worldwide, Odoo is the most installed business software in the world. The company’s solutions are designed to support businesses of all sizes, with a flexible, fully-featured, and integrated suite of applications to run and manage all aspects of a business. Odoo’s functionality encompasses traditional ERP, including accounting, stock, manufacturing and CRM, as well as broader business needs such as project management, marketing, human resources, website, eCommerce, point-of-sale and more. With a modular approach, Odoo provides affordable, customizable and easy-to-use software that scales with business needs as a company grows.

“My goal in founding Odoo was to make a difference. I wanted to create software that powers the growth of businesses and changes the world,” said Fabien Pinckaers, Odoo Founder and CEO. “In order to achieve this, we’ve had to work hard, build a team and innovate at every turn. I’m incredibly proud of where Odoo is today and the passionate community we have built – and we’re just getting started.”

Since 2015, Odoo has operated with an open core business model that combines its open-source product, Odoo Community, with a suite of proprietary core apps through Odoo Enterprise. In addition to the 30 applications offered in Odoo Enterprise, Odoo’s community of 20,000 active members worldwide has contributed more than 16,000 apps that cover a broad spectrum of business needs. With revenue growth consistently above 50% over the last ten years, Odoo is one of Belgium’s leading technology success stories. To support the company’s growth and global expansion, Odoo has grown its team to 750-strong, including the addition of more than 300 team members in 2019. Odoo operates international offices in San Francisco, India, Hong Kong and Dubai to support a global customer base.

“In our experience, traditional ERP is expensive and frequently fails to adapt to the unique needs of dynamic businesses. With its flexible suite of applications and a relentless focus on product, we believe Odoo is ideally positioned to capture this large and compelling market opportunity,” said Antony Clavel, a Principal with Summit Partners who has joined the Odoo Board of Directors.

“We are thrilled to partner with Fabien and his visionary team for this next phase of growth,” added Han Sikkens, a Managing Director and Head of Europe at Summit Partners.

“As an early investor in Odoo, we are delighted to reaffirm our support in the company’s continued expansion,” said Damien Lourtie, General Manager of W.IN.G (SRIW Digital) and a member of the Odoo Board of Directors. “We are proud to support this impressive leadership team – a team that has successfully scaled Odoo from its roots in Belgium to the global business that it is today.”

Odoo was advised by financial advisory firm Lazard.

About Odoo
Odoo is a leading provider of all-in-one, open source business software for small and medium sized businesses worldwide. Founded in 2005, Odoo thrives in a unique and fully open ecosystem combining the resources of its community and partners to deliver a full range of easy-to-use, integrated and scalable business applications. Odoo has offices in the U.S., Belgium, Luxembourg, India, Hong Kong and Dubai. For more information, please visit: www.odoo.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare and other growth industries. Notable technology and software companies financed by Summit Partners include Acturis, Avast, Darktrace, FLEETCOR, Flow Traders, Infor, Klaviyo, Ogone, RELEX Solutions, Smartsheet and Trintech. 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 SRIW
SRIW (Société Régionale d'Investissement de Wallonie) provides equity and/or debt to companies that generate added value and employment in Wallonia (Belgium) ($3 billion under management). For the last 40 years, SRIW has been facilitating the region's economic development, contributing effectively to the modernisation, growth and restructuring of the businesses that make up the Walloon industrial network. For more information, please visit: www.sriw.be.

About XAnge
XAnge is a Franco-German Venture Capital team with €450m under management, investing in Digital technologies, Deep tech and Impact entrepreneurs. XAnge is part of Siparex, a leading French private equity group. XAnge is a proud investor in Evaneos, Chauffeur Privé, Ledger, or Fidor. FindMyVC.io - www.xange.fr - Twitter @XAngeVC

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.

Combined organization now represents THE school for the future of IT with the largest cloud computing training library in the world

AUSTIN, TX - Today, A Cloud Guru announced the acquisition of Linux Academy, creating the largest and most effective cloud computing training platform in the world. With a shared mission to “teach the world to cloud,” the combined organization now represents THE school for the future of IT: hands-on, practical and updated daily to keep pace with continuous changes in cloud technology.

By bringing together the beginner-friendly A Cloud Guru offering and the more advanced Linux Academy training programs, the combined content library will represent the world’s largest catalog of hands-on training for cloud computing (AWS, Azure & Google Cloud), DevOps, containers, security, big data, machine learning and artificial intelligence.

As part of this acquisition, Bain Capital Tech Opportunities has made a significant investment in A Cloud Guru, alongside participation from existing investors Elephant, Summit Partners and AirTree Ventures.

Related News: A Cloud Guru Raises $33M to Scale its Leading Online Cloud Training Platform

Organizations across sectors and geographies are in the midst of transitioning to a cloud-first strategy. The cloud services market is growing at a rate nearly three times that of the overall IT services market, but most enterprises aren’t prepared for the cloud transition. Nearly three-quarters of IT decision makers believe their organizations have lost revenue due to a lack of cloud expertise within their teams.

Now, solving that challenge will become easier.

“We believe anyone, anywhere can grow their cloud skillset and achieve a brighter future,” said A Cloud Guru CEO Sam Kroonenburg. “Together with Linux Academy, we can ensure that each customer experiences the highest quality and most relevant content throughout their continuous learning path.”

A Cloud Guru will bring together the best of both companies to provide an integrated learner’s journey and create an unparalleled customer experience, while also rapidly accelerating the launch of new courses and the pace of innovation.

“I’m thrilled for our students. They are the true winners in this combination of two best-in-class cloud training providers,” said Linux Academy CEO Anthony James. “Our student-first missions are completely aligned, and we truly are better together.”

Kroonenburg will lead the combined organization, which has already helped more than 1.5 million people learn cloud computing, and James will serve in an advisory capacity. The company is growing revenues at a rate of nearly 100% and today employs almost 400 team members around the world.

William Blair & Company, LLC acted as exclusive financial advisor to Linux Academy.

About A Cloud Guru
Founded in 2015 by brothers Sam and Ryan Kroonenburg, ACG is driven by a straightforward mission—to teach the world to cloud. What began as a single cloud certification course has expanded into a rich content library and hands-on labs covering Amazon Web Services, Google Cloud Platform and Microsoft Azure cloud platforms. ACG has helped more than one million users across 196 countries acquire the skills and certifications needed to pursue meaningful careers in the cloud. The state-of-the-art learning platform helps businesses and individuals rapidly develop cloud skills, prepare for certification exams, and progress through learning paths to become gurus in specialized disciplines.

About Linux Academy
Linux Academy is the premier hands-on cloud training platform for all skill levels. Since 2012 Linux Academy has provided self-paced courses, access to expert training architects, a wide library of content, and real scenario-based environments for cloud mastery. Learners can train real-time in multiple, secure platforms within Linux Academy. With constantly updated information and friendly guidance to succeed, Linux Academy boasts 95% satisfaction among learners. The Linux Academy platform offers more than 200 courses, over 1,000 Hands-On Labs, and Learning Paths to guide training.

Source: A Cloud Guru

Acquisition extends FineLine’s services to new markets across sports, entertainment, and premium events

Norcross, GA – FineLine Technologies Inc. (“FineLine” or the “Company”) has acquired Consolidated Printing Inc. (“CPI”), a leading provider of printed tickets for professional and collegiate sporting events and major entertainment and event venues throughout the United States.

This acquisition marks FineLine’s strategic entry into event management, an industry in which the Company can leverage its advanced data management and RFID capabilities to improve complex ticketing processes. Event management is a core piece of the Company’s strategy to expand into additional industry verticals which require stringent data management and reporting functionalities and are apt to undergo continued logistics optimization.

“The acquisition of CPI will allow FineLine to offer its advanced data management and RFID production capabilities to the sports, entertainment, and event ticketing industries. Similar to other verticals, we see this industry moving rapidly from conventional printed tickets to RFID-enabled smart tickets, as evidenced by the NFL’s recent decision to adopt RFID-enabled ticketing,” said George Hoffman, FineLine’s Chairman and CEO.

“Since 1991, CPI has built an incredible business by providing high quality tickets to more than half of the teams in the NFL, NHL, MLB, and NBA, as well as to some of the most famous events and venues in entertainment, including the Emmy Awards, Madison Square Garden, and Carnegie Hall,” Hoffman continued.

Curtis Howells and William McKeever, co-CEOs of CPI, view FineLine as the ideal partner to help grow their business both in the U.S. and abroad. “Our customers are increasingly inquiring about smart ticketing and its ability to enhance fan engagement, reduce ticket fraud, and improve security. We are proud to say that in 2019 we successfully transitioned more than half of the NFL teams from conventional paper tickets to RFID-enabled smart tickets,” said Howells. “FineLine shares our commitment to providing excellent customer service, rapid delivery, and innovative solutions. We are excited to leverage FineLine’s RFID capabilities and data management solutions as we continue to grow our business.”

About FineLine Technologies
FineLine Technologies provides barcoded and RFID integrated labels, tags, and badges for supply chain, omni-channel fulfillment, POS, access control, and consumer engagement needs. FineLine produces billions of tickets annually through its global network of print hubs, delivering them in less than five days, on average. FineLine offers its more than 55,000 registered suppliers online order placement, tracking, and analytics to help customers efficiently manage their supply chains. FineLine is backed by growth equity investor Summit Partners. Learn more at FineLine Technologies.

About CPI
Consolidated Printing, Inc., is one of North America’s leading ticket manufacturers. A full-service commercial printer, CPI specializes in custom event ticket printing combined with state-of-the-art technologies. From design to delivery, the art room to the loading dock, CPI’s dedicated staff utilizes industry-leading equipment and technology, to ensure that every client receives a finished product which they can be proud of. Over the years, CPI has served organizations and events from nearly every field of the sports and entertainment industries, including teams from professional and college sport, as well as orchestras, ballets, museums, film festivals, awards ceremonies, concerts and tours, television shows and theme parks. Learn more at www.teamcpi.com.

Source: FineLine Technologies

Combination creates the first SaaS company to provide data-driven shipping insights for companies that fuel the $3.5 trillion e-commerce industry

KANSAS CITY, MO -- VeriShip, a leading SaaS-based shipping expense optimization platform, today announced its acquisition of Valence, a software and managed service company that tracks Amazon’s operational errors for sellers in its Fulfillment by Amazon (FBA) program.

The acquisition establishes VeriShip as the only software company to offer managed services and insights for small to mid-sized businesses shipping across the world’s largest parcel shipping and fulfillment networks – Amazon (NASDAQ:AMZN), DHL (OTCMKTS:DPSGY), FedEx (NYSE:FDX), and UPS (NYSE:UPS) – and positions the company at the epicenter of the influential industry sectors of e-commerce and data analytics.

“Cyber Monday’s record sales proved e-commerce will only continue to grow, yet smaller retailers face difficult headwinds as consumers demand shorter shipping times and less expensive rates,” said Ryan Clement, VeriShip CFO. “We know how to help – VeriShip has been advocating for small and mid-sized businesses to manage their parcel relationships and spend with FedEx and UPS for nearly 15 years. Now, we can extend our expertise to Amazon sellers.”

VeriShip and Valence have a shared mission: to leverage spend intelligence to simplify the increasingly complex and often-fraught relationships between shipper and carrier.

Valence’s technology taps into Amazon’s Marketplace Web Service API to identify Amazon’s operational errors in handling a seller’s FBA inventory. Then, Valence associates negotiate reimbursements owed. Similarly, VeriShip combines its industry-leading technology – a cloud-based parcel analytics platform that aggregates and audits data on 70 million packages shipped annually through DHL, FedEx and UPS – with expert data scientists to recover refunds for small and mid-sized businesses. Its data scientists further analyze and compare data to optimize the shipping environment and prevent future overcharges and inaccuracies through carrier contract engineering and predictive analytics.

As e-commerce continues to dominate U.S. purchasing behavior, and the delivery experience becomes as crucial to the consumer as the product, brands want to take control of their fulfillment strategy. The acquisition gives VeriShip the broadest warehouse of parcel shipping data in the e-commerce channel – data that its expert analysts can put to work for sellers struggling to compete.

"SMBs are competing in an ever-changing e-commerce landscape. Meanwhile, powerful multinational package delivery and fulfillment services, like Amazon, are continuously changing the rules,” said Valence co-founder and now VeriShip CRO JL Needham. “Together, the VeriShip and Valence solutions help level the playing field for these businesses whose products fuel the future of retail.”

About VeriShip
VeriShip is a spend management and payments platform that tracks, audits and analyzes shipping invoice data to support small and mid-sized businesses shipping with the four largest U.S. carriers. Its SaaS-based technology platform gives SMBs control of their shipping data with a single source of cloud-based visibility into parcel spend. Its team of data scientists and parcel experts uses the platform’s decades of shipping data to benchmark and forecast, helping clients negotiate shipping contracts and optimize and reduce future shipping spend. Since 2006, VeriShip has helped nearly 6,000 businesses optimize shipping on nearly $2 billion in parcel spend. Learn more at veriship.com/valence.

Source: VeriShip

AUSTIN, Texas December — A Cloud Guru ("ACG") today announced that Katie Bullard has joined the organization as President and will lead the company’s growth acceleration efforts and be responsible for sales, marketing, customer success, and partnership operations.

Most recently, Bullard was President at DiscoverOrg / Zoominfo and was named one of the 50 most powerful women in technology in 2019 by the National Diversity Council and a Top 20 Women in Business to Watch in 2018 by SLMA.

“Katie brings years of deep industry expertise successfully scaling and leading high growth technology businesses, and will be a fantastic addition to senior leadership team," said Sam Kroonenburg, co-founder and CEO of ACG. "Katie’s experience leading global companies, driving strategic vision, and executing with operational rigor will be invaluable to ACG as we continue to scale and grow.”

Bullard brings to ACG a 15-year proven track record of driving transformative growth, sustained operational excellence, and customer-centric culture. In her last 3 roles at Accruent, Mitratech, and DiscoverOrg / ZoomInfo, she helped lead revenue growth at each one from under $50m to well over $100m; most recently driving DiscoverOrg’s growth from under $60m to almost $400m in 3 years.

Bullard says, “I am so fortunate to join the talented ACG team at this momentous time in their growth. I’ve never seen a company that has done such a phenomenal job creating massive customer affinity and value in such a short period of time, and I’m looking forward to helping to teach the world to cloud.”

About A Cloud Guru

Founded in 2015 by brothers Sam and Ryan Kroonenburg, ACG is driven by a straightforward mission—to teach the world to cloud. What began as a single cloud certification course has expanded into a rich content library and hands-on labs covering Amazon Web Services, Google Cloud Platform and Microsoft Azure cloud platforms.

ACG has helped more than one million users across 196 countries acquire the skills and certifications needed to pursue meaningful careers in the cloud. The state-of-the-art learning platform helps businesses and individuals rapidly develop cloud skills, prepare for certification exams, and progress through learning paths to become gurus in specialized disciplines.

Source: A Cloud Guru

HOPKINTON, Mass. -- PrismHR, the leading HR technology platform powering payroll, benefits and HR for small and medium-sized businesses across the U.S., today announced that funds managed by Stone Point Capital LLC have taken a majority stake in the company. Stone Point, a leading private equity firm focused on investing in the financial services industry, joins existing investor Summit Partners as the company continues its quest to fuel the growth of America's small businesses through HR, benefits and technology that level the playing field with large enterprises.

"Stone Point, with its experience in PEO, employee benefits and HR technology, will be an incredibly valuable resource for us as we further our strategy to deliver software and services to our network of 300+ HR outsourcers serving small businesses nationwide," said Gary Noke, President and CEO of PrismHR. "We see a tremendous opportunity to use technology and data to make it easier and more cost effective for our HRO partners to improve operational efficiency and to deliver a world-class client and employee experience."

"We're thrilled to be partnering with PrismHR and believe that there is significant opportunity for growth for HR outsourcers serving the SMB market," said Jarryd Levine, Principal of Stone Point. "PrismHR and its network of HR service providers can bring incredible value to employers by helping them lower costs and compete in new ways through the use of technology to deliver quality services and top-tier benefits products to their employees."

"As the HR function becomes increasingly complex, we have observed continued growth in the demand for outsourced HR solutions for SMBs," said Scott Collins, Managing Director at Summit Partners, which invested in PrismHR in 2017. "With a sophisticated, scalable and comprehensive platform, we believe PrismHR is strongly positioned to help SMBs manage this complexity. It has been a pleasure to work alongside Gary to expand the PrismHR team and enhance the platform, and we are looking forward to continuing our partnership."

William Blair served as investment advisors and Kirkland & Ellis served as legal advisors for both PrismHR and Summit Partners in the transaction. Kramer Levin Naftalis & Frankel LLP served as legal advisor to Stone Point.

About PrismHR
PrismHR's mission is to fuel the growth of small and medium-sized businesses (SMBs) across the U.S. Our HR software, combined with our ecosystem of HR service providers, enables SMBs to manage payroll, benefits, and HR, leveling the playing field with large enterprises. Today, PrismHR software delivers world-class HR services to more than 80,000 organizations and over 2 million worksite employees, processing greater than $80 billion in payroll each year. PrismHR is located in Hopkinton, Mass. For more information, visit www.prismhr.com.

About Stone Point Capital LLC
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed eight private equity funds – the Trident Funds – with aggregate committed capital of more than $25 billion. Stone Point targets investments in companies in the global financial services industry and related sectors. For more information, please visit www.stonepoint.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 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 on Twitter at @SummitPartners.

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.

FORT WASHINGTON, PA – Patriot Growth Insurance Services, LLC (“Patriot”), one of the country’s fastest-growing national insurance agencies, today announced the addition of Shapiro Insurance Group (“SIG”) to the Patriot platform. The partnership with SIG marks Patriot’s entry into the important Florida marketplace and significantly strengthens its existing capabilities in the Property & Casualty insurance arena. SIG is headquartered in Jacksonville, FL and has grown to nearly 80 insurance professionals in 10 locations throughout the state.

Joel Shapiro founded SIG in 1990 and has built it into one of the largest independent insurance agencies in Florida. The firm’s energetic and client-focused team provides a broad slate of personal and commercial insurance products to thousands of families and businesses throughout the Southeastern United States. In addition to its strong organic growth, SIG has completed eleven acquisitions in the past ten years; VP of Operations Sheona Fanelli ably leads highly integrated operations across Northeast, Central and South Florida. By partnering with Patriot, SIG can leverage the platform’s extensive resources and national network to continue delivering best-in-class products and services to its customers.

“We were seeking a growth-focused partner that can help us take our business to the next level, and we found our perfect match in Patriot,” said Mr. Shapiro. “They spent the extra time to get to know us as people and to understand our goals for the future of SIG. In addition to being a great cultural fit for our company, Patriot brings the resources, expertise and passion necessary to fuel the next chapter of our growth journey.”

“Joel and I spent many hours together during this process, getting to know one another and exploring the cultural and strategic fit between SIG and Patriot. In a dizzying sea of potential buyers, the personal relationship we developed was key,” said Matt Gardner, founder and CEO of Patriot. “We are excited to deliver Patriot’s resources, ideas and capital to help Joel, Sheona and the entire SIG team continue to grow.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. With over 400 professionals operating in 40 locations across 11 states, Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

Poppy Gustafsson Honored at Prestigious Awards Ceremony

Darktrace, the world’s leading cyber AI company, today announced that its co-CEO Poppy Gustafsson was named ‘Tech Businesswoman of the Year’ at the UK Tech Awards 2019 ceremony in London last night.

The UK Tech Awards celebrates the very best of UK tech, showcasing success and innovation in the UK tech community.

The Tech Businesswoman of the Year award recognizes strong female role models from the tech industry paving the way for the next generation of entrepreneurs, CIOs and CTOs.

Under Poppy’s direction, Darktrace has seen rapid global growth, with over 3,000 customers in 110 countries across the world using its artificial intelligence to fight cyber-attacks. Poppy was awarded an OBE at the Queen’s Birthday Honors 2019, was a winner at the ‘Veuve Clicquot Business Woman Awards 2019,’ and was named to Management Today’s ‘30 Women under 35’ list in 2018.

“I am honored to be named Businesswoman of the Year by the UK Tech Awards,” said Poppy Gustafsson, CEO, Darktrace. “The phenomenal successes that Darktrace is experiencing is testament to the passion, fearlessness and hard work of our brilliant team of over 1,000 employees, as well as the fundamental innovation behind our autonomous response technology.”

Darktrace was also awarded ‘IT Security Provider of the Year’ at the British Legal Technology Awards ceremony in London last night.

About Darktrace
Darktrace is the world’s leading cyber AI company and the creator of Autonomous Response technology.

Its self-learning AI is modelled on the human immune system and used by over 3,000 organizations to protect against threats to the cloud, email, IoT, networks and industrial systems. This includes insider threat, industrial espionage, IoT compromises, zero-day malware, data loss, supply chain risk and long-term infrastructure vulnerabilities.

The company has over 1,000 employees, 44 offices and headquarters in San Francisco and Cambridge, UK. Every 3 seconds, Darktrace AI fights back against a cyber-threat, preventing it from causing damage.

Source: Darktrace.

FORT WASHINGTON, PA. -- Patriot Growth Insurance Services, LLC (“Patriot”), a national retail insurance agency, today announced the addition of Landmark Insurance Associates (“Landmark”) to the Patriot platform. The addition of Landmark immediately bolsters Patriot’s employee benefits expertise and capabilities, while further expanding the platform’s national footprint.

Located in Buford, Georgia, Landmark is an independent insurance agency that provides various employee benefits products to corporate clients across the Southeast. The Company offers specialized medical, dental, disability, vision and life, voluntary benefits, FSA/HSA and 401(k) programs to customers seeking comprehensive benefits solutions. Lonnie Vogler founded Landmark in 1983 with a passion for customer service and a commitment to success that have been deeply ingrained in the culture and daily operations of the agency. President Patty Halenkamp, a dynamic leader with over 25 years of industry experience, approaches employee benefits with the same customer-first mindset that has guided Landmark’s business model for more than 35 years.

“While other opportunities were available to us, Patriot’s growth-oriented platform completely aligns with our goals, and we are absolutely thrilled to have Patriot as our partner.” said Patty Halenkamp.

“Landmark is a perfect fit for us,” said Matt Gardner, founder and CEO of Patriot. “Patty leads a highly energized team with amazing entrepreneurial spirit and an unwavering commitment to providing best-in-class employee benefits products and services to Landmark’s clients. We are proud to welcome them into the Patriot family.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

Funding to fuel continued growth as prominent banks, defense contractors, government organizations and more switch to the new way of developing and measuring cyber skills

For more than three decades, Summit Partners has backed innovative companies at the forefront of the increasingly complex and ever-evolving threat landscape. Immersive Labs represents our latest investment in the security sector, experience that includes industry leaders such as Avast, Darktrace, McAfee and Netwitness.

Bristol, UK and Boston, MA – Immersive Labs, the world’s first fully interactive, on-demand and gamified cyber skills platform, has closed $40 million in funding led by global growth equity investor Summit Partners, with participation from existing investor Goldman Sachs. The investment will be used to support expansion initiatives in North America, where customer demand highlights a clear need to optimize cyber skills and guard against constantly evolving threats. We believe this new round of funding illustrates how this dynamic technology is ushering in a new era of active training that enables professionals to acquire additional skills in richly immersive environments at their own pace and on their own schedules.

"The rapid, constantly evolving threat landscape has made traditional classroom training for cyber skills obsolete."

“Gaps in cybersecurity knowledge meaningfully increase risk to an organization, creating vulnerability and presenting opportunity for attackers. The rapid, constantly evolving threat landscape has made traditional classroom training for cyber skills obsolete,” said James Hadley, CEO of Immersive Labs. “At a time when cyber skills are stretched across the board, the Immersive Labs platform enables companies to identify these weak points and rapidly skill people to address them.”

Immersive Labs was founded by CEO James Hadley, former UK Government Communications Headquarters (GCHQ) cybersecurity instructor, who envisioned transforming the way organizations acquire and deploy new skills. The company has experienced rapid growth since its launch, with 750% year-over-year increase in annual recurring revenues and an employee base that is now more than 100 strong. The company plans to build on its momentum from its new North American headquarters in Boston.

More than 100 organizations worldwide are already experiencing the benefits of the Immersive Labs platform, including British Telecom, Bank of Montreal, Citigroup and Goldman Sachs, as well as government bodies such as the UK’s National Health Service and London’s Metropolitan Police.

Immersive Labs is an on-demand, continuous and trackable cyber skills development platform that is designed to enable both security specialists and business users to step into real-world cybersecurity situations based on real-world attack techniques and emerging or zero-day threats. These simulations are designed to challenge users and help them understand and guard against attacks in a safe environment, strengthening skill levels across the board, from identifying phishing attacks to reverse-engineering malware.

Data captured by users can also be employed to instantly analyze internal skill levels and drive improvement. The Immersive Labs platform maps an organization's existing capabilities to familiar frameworks, including MITRE ATT&CK and NIST NICE. These features help identify specific skill shortages to be addressed and make the platform an important tool for planning, reporting, and forecasting security and risk.

" Cybersecurity has been a core investment theme for Summit for many years. We recognize in Immersive Labs many of the same qualities that we’ve seen in other cybersecurity leaders."

Antony Clavel, a Principal with Summit Partners, said, "Cybersecurity has been a core investment theme for Summit for many years. We recognize in Immersive Labs many of the same qualities that we’ve seen in other cybersecurity leaders: a technically strong and strategically thoughtful management team; a differentiated product addressing a large and urgent market need; and a rapidly growing base of blue-chip customers. We believe Immersive Labs is well-positioned to become a global category leader in cyber skills development.”

James Hayward, from Goldman Sachs’ Merchant Banking Division, said, “We are impressed with Immersive Labs’ achievements since our initial investment and see further growth potential as the team continues to execute on their vision and expand to new geographies. The platform is continually evolving to help address the gap in cyber skills that is impacting companies and governments across the globe.”

About Immersive Labs
Immersive Labs is the world’s first fully interactive, on-demand, and gamified cyber skills platform. Our technology delivers challenge-based skills content developed by experts with access to the latest threat intelligence. Our unique approach engages and measures entire workforces, equipping all employees with critical skills and practical experience in real-time. Immersive Labs simulates cyber scenarios covering everything from the basics to threat hunting and reverse-engineering malware. At the heart of our platform are labs: story-driven exercises accessed from a browser in seconds. We have hundreds of practical, gamified labs dedicated to a huge range of skills and mapped against industry frameworks. For more information on Immersive Labs’ offering, please visit www.immersivelabs.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable securityand technology companies backed by Summit Partners include Avast, Darktrace, InfoArmor, McAfee, NetWitness, Red Canary, RiskIQ and SafeBoot. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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.

Partnership brings together two high-growth, innovative organizations to strengthen OEM parts distribution capabilities around the world

ADDISON, Ill. -- Parts Town, the leader in foodservice equipment parts distribution, and Heritage Foodservice Group (“Heritage”) announced that they are coming together to strengthen their OEM (original equipment manufacturer) parts distribution capabilities. Financial terms were not disclosed.

This combination brings together two high-growth, innovative organizations to further enhance the availability, delivery and overall experience of finding and buying genuine OEM parts for service companies, restaurants and institutional customers in the United States, Canada and around the world.

Steve Snower, CEO of Parts Town for the past 15 years, has led the team that grew Parts Town from five employees and less than $3 million in revenue in 2003 to more than 1,800 global team members and over $650 million in revenue today. John McDonough, CEO of Heritage, has led that business through a highly successful transformation over the past seven years, returning the business to high growth and performance with over 800 team members across North America and over $300 million in revenue. This performance has been driven by focusing on industry-leading customer service, manufacturer relationships, company talent and culture, and digital transformation. Snower will lead the combined organization and partner closely with McDonough through the integration. McDonough will join the combined company’s Board of Directors.

Snower stated, “Both of our businesses have been relentlessly focused on genuine OEM parts, and we intend to continue to improve the safety, reliability, and performance of foodservice equipment in support of our manufacturer and customer partners all over the world. This combination will help field-service organizations serve their customers faster than ever before, improving equipment up-time and performance. As we join our extraordinary team members together, we will keep innovating to make finding and buying foodservice equipment parts easier than ever.”

McDonough added, “This combination makes perfect sense for manufacturers, customers, and our teams. Increased inventory availability, faster delivery, better data, and constant innovation add value to the entire supply chain. By coming together, we can create one of the truly great technology-enabled distribution businesses found in any industry. I am excited to partner with Steve and the team to help realize our full potential.”

Snower continues, “There will be immediate benefits to our customers and manufacturer partners and we expect many more improvements over time. We will bring the best organization together, honoring our commitment to genuine OEM parts and to delivering an extraordinary experience for our customers. Additionally, we will soon introduce a series of new technologies that will bring unique benefits to our manufacturers and, in particular, our field service customers.”

The new organization will continue to have significant operations in both Addison, Ill. (Parts Town’s headquarters) and Ft. Wayne, Ind. (Heritage’s headquarters), in addition to other operations in the U.S., Canada, the U.K., and Germany.

In support of key manufacturer partners, the companies will continue to operate field service organizations in select U.S. markets and across Canada. Those businesses operate separately from the core parts distribution operations and will continue to do so.

About Parts Town
Parts Town is the leading distributor of genuine OEM (original equipment manufacturer) foodservice equipment parts. When there’s a hiccup in any commercial kitchen, Parts Town is ready to jump in and help with the most in-stock parts on the planet, innovative technology, and an unmatched customer experience. Customized solutions benefit food equipment service companies, chain restaurants, institutions and independent restaurants.

Parts Town leads the way in industry innovation. Its Serial Number Lookup tool uses model serial number level detail from a variety of foodservice equipment manufacturers to create a more precise search and order process for buying replacement parts for commercial kitchen equipment. The 360-degree imaging technology, PartSPIN®, valuable interactive diagrams, convenient Smart Manuals, and the industry’s first mobile app allow customers to easily and conveniently find and view equipment manuals and parts in the field, where that info is needed most. These innovations, paired with same day shipping and extended hours of operation, ensure the correct part is ordered and delivered every time.

Partnering with the top manufacturers of commercial cooking, refrigeration, ice and beverage equipment and more, Parts Town improves the supply chain, increases sales of genuine OEM parts and keeps every customer’s business running like clockwork. For more information, www.partstown.com.

About Heritage
Founded in 1987, Heritage Parts is a leading provider of replacement parts for commercial and institutional kitchen equipment. Headquartered in Fort Wayne, Indiana, the company’s continued mission is to provide industry-leading customer care, customer-centric technology and a large selection of in-stock parts inventory.

Heritage is committed to promoting manufacturer partnerships and serving as an extension of their brands by expanding their reach beyond existing service networks. Through unique sales and marketing programs, Heritage adds value throughout the customer journey and equipment lifecycle.

Offering same-day shipping on parts from more than 800 OEM partners, including hot side, cold side, beverage and warewashing equipment, Heritage’s customers trust them to correctly identify the right part at the right time to maximize equipment uptime. Heritage offers a growing suite of technology tools designed to enhance customer experience and make researching and buying parts easier, such as Expert ID360™, My Equipment360™ and the award-winning Heritage mobile app. Heritage’s team of parts experts always delivers an unsurpassed experience every time. For more information, visit www.heritageparts.com.

Source: Parts Town / Business Wire

Paris, France – Blackstone (NYSE:BX) today announced the signing of definitive documentation by Blackstone Tactical Opportunities (“Blackstone”) to form an equity partnership with Sipartech S.A. (“Sipartech”), a provider of telecom infrastructure solutions in France. Sipartech holds a leading position in the deployment of dark fiber, with a focus on serving data center and hyperscaler customers that are the largest consumers of wholesale data connectivity.

Blackstone will acquire its stake from growth equity investor Summit Partners, who invested in the business alongside Founder & CEO Julien Santina in 2016. The transaction is expected to close in late 2019, subject to regulatory approval; financial terms of the transaction were not disclosed.

“Sipartech has established a world-class and differentiated network infrastructure in France focused on the most demanding and complex connectivity requirements,” said Jasvinder Khaira, a Senior Managing Director in Blackstone’s Tactical Opportunities Group. “Providing growth capital to founders to accelerate their growth is a hallmark of Blackstone’s investments in the telecom and internet infrastructure sector, and we are thrilled to support Julien and the rest of the management team as they expand their presence in the European marketplace.”

“We expect France to be at the intersection of exponential growth in fiber connectivity needs in Europe over the coming years. Investing in Sipartech substantially augments our European digital infrastructure presence, and we are excited to support the Company’s ongoing remarkable growth in France and across continental Europe,” said Thomas Senecal, also of Blackstone Tactical Opportunities.

“We have done a great job with Summit Partners over the last 3 years. As we enter the next chapter of our growth, we are proud and very excited to partner with Blackstone Tactical Opportunities, who shares our vision and will support us in our ambitious growth plans,” said Julien Santina, Sipartech’s majority shareholder and CEO.

“Julien and the Sipartech team have built a market leading fiber network in France and an impressive business. They have delivered growth that has outpaced the incumbents, and we believe the business is very well positioned for the future. It has truly been an honor to work alongside the team as the company has scaled,” said Christian Strain, a Managing Director with Summit Partners.

Sipartech is among the fastest growing dark fiber providers in France, with a strong presence in Paris and other major French metropolitan centers. The company was founded in 2008 by Julien Santina and has grown into a leading provider of B2B and wholesale dark fiber services and other telecom services. Headquartered in Paris, Sipartech owns and operates over 3,000km of fiber across France.

Blackstone was advised by Freshfields Bruckhaus Deringer LLP. Sipartech was advised by Lazard Frères & Co and Paul Hastings LLP, and Summit Partners was advised by Latham & Watkins LLP.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $546 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @blackstone.

About Tactical Opportunities
Tac Opps is Blackstone's opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone’s various businesses while continuously optimizing its approach in the face of ever-changing market conditions.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare and other growth industries. Summit has backed more than 60 communications technology businesses, including Acacia Communications, Accedian Networks, Casa Systems, Finisar, Fuze, MACOM and Ubiquiti. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

About Sipartech
Founded in 2008 by Julien Santina, Sipartech is a leading neutral and independent European infrastructure carrier. Sipartech provides a wide portfolio of connectivity products and services to more than 500 customers in the world, including data centers, hyperscalers, enterprises, and telecom operators.

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.

Against the backdrop of one of the most competitive labor markets in decades, all organizations are facing the challenge of attracting and retaining top talent while managing a workforce with increasingly complex requirements. More and more, CHROs are seeking software tools that go beyond traditional HR and payroll functions to deliver specialized capabilities that effectively address the hiring, performance management and employment engagement objectives of their organizations.

In HR Tech Outlook, Summit’s Peter Rottier shares his perspective on the evolving HR technology landscape and why growth companies are increasingly turning to unified human capital management (HCM) solutions to fulfill their full spectrum of needs, from payroll and core HR to workforce and talent management. Read more in HR Tech Outlook.

Source: HR Tech Outlook

Investment to accelerate R&D and sales efforts to support unified commerce experience

BOSTON -- Akeneo, a global leader in Product Experience Management (PXM) solutions for corporate brands and retailers, today announced it has raised $46 million in funding led by global growth equity investor Summit Partners. Existing investors Alven, Partech, and Salesforce Ventures, as well as Akeneo’s board member Stephan Dietrich, also participated in the round.

Akeneo’s open source SaaS platform provides a comprehensive solution to manage product information and omnichannel catalogs. In the era of experience-driven commerce, both B2C and B2B brands and retailers are increasingly relying upon the power of unified product information to deliver compelling and relevant customer experiences across all sales channels. Akeneo has become the most used product information management (PIM) platform in the world and has achieved compound triple-digit revenue growth for the sixth consecutive year. It has more than 60,000 live implementations and serves international brands including Sephora, Fossil and Staples CA.

“In an omnichannel world, PXM represents the next evolution of product information management, which is becoming the new CRM of product data,” said Steffan Peyer, a principal at Summit Partners who will join the Akeneo Board of Directors. “We believe Akeneo’s highly-focused product approach, as well as its hyper-connectivity with the broader commerce stack, makes it uniquely capable of addressing complex and specific customer product information needs.”

With the new funding, Akeneo intends to continue to invest further in its sales and marketing efforts in the United States, while doubling down on research and development, including product data intelligence to boost product information automation and monitor product experience quality. The company also plans to hire more than 100 additional staff in the upcoming year to support this next round of rapid growth.

“PXM is becoming a critical business application for brands and distributors to win in omnichannel retail,” said Fred de Gombert, CEO and co-founder of Akeneo. “Today’s consumers average more than five touchpoints before they make a purchasing decision, so it is increasingly important for brands to use a platform that delivers an integrated and consistent product experience.”

De Gombert continued, “With Summit’s extensive experience scaling global SaaS businesses and our existing investors’ continued support, we look forward to helping more brands and retail merchants deliver seamless product experiences with even greater efficiency and scale.”

With U.S. headquarters in Boston, Akeneo is a global company with more than 180 employees across six countries, including France, Germany, the UK, Spain, and Israel. The new funding comes on the heels of a series of corporate milestones for Akeneo, including the acquisition of AI startup Sigmento, integration with Salesforce Commerce Cloud, and a strategic premier technology partnership with Magento, an Adobe company.

About Akeneo
Akeneo is a global leader in Product Experience Management (PXM) solutions that help merchants and brands deliver a compelling customer experience across all sales channels, including eCommerce, mobile, print, and retail points of sale. Akeneo's open source enterprise PIM, and product data intelligence solutions, dramatically improve product data quality and accuracy while simplifying and accelerating product catalog management.

Leading global brands, including Sephora, Fossil, Shop.com, and Auchan trust Akeneo's solutions to scale and customize their omnichannel and cross-border commerce initiatives. Using Akeneo, brands and retailers can improve customer experience, increase sales, reduce time to market, go global, and boost team productivity. For more information, please visit https://www.akeneo.com or contact us on Twitter at @akeneopim.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable SaaS and retail technology companies backed by Summit Partners include FineLine Technologies, Gainsight, Klaviyo, Infor, Mi9 Retail, Podium, Red Points, RELEX, Reverb, Sezane, RightNow and Smartsheet. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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.

FORT WASHINGTON, PA – Patriot Growth Insurance Services, LLC (“Patriot”), a national retail insurance agency, today announced the addition of Launchways, a leading provider of human resources, employee benefits and business insurance solutions, to the Patriot platform. The addition of Launchways immediately expands Patriot’s geographic reach and broadens its robust product offering.

Founded in 2009, Launchways is an independent insurance agency that combines human resources consulting, employee benefits and commercial insurance solutions. The company’s unique business model includes a variety of innovative products and services that are tailored to meet the specific needs of high-growth organizations throughout the Midwest. Launchways provides business leaders with the tools, resources and guidance they need to build scalable people processes that support their long-term strategy. With a unique combination of industry experience and entrepreneurial ambition, CEO Jim Taylor and President Gary Schafer have helped hundreds of growth-oriented businesses solve their insurance and human resources challenges.

“We pride ourselves on a personalized, hands-on approach across the full spectrum of our clients’ needs. Solid operations and leadership are fundamental to our organization,” said Gary Schafer, President of Launchways.

“Our solution empowers business leaders to unlock the full potential of their workforce so that they can focus on their long-term growth objectives. In choosing a partner, we evaluated the broad marketplace and identified Patriot as the perfect fit for us from a cultural and operational perspective. We are thrilled to continue our growth journey with them as our partner,” said Jim Taylor, CEO of Launchways.

Having served more than 400 customers throughout the Midwest, Launchways helps organizations of all sizes address their business insurance, employee benefits and human resources needs. The company has experienced rapid growth over the last several years, recently moving its headquarters to downtown Chicago in order to accommodate its growing employee and customer base.

“We are laser-focused on organic growth and cultural fit when assessing a potential agency partner,” said Matt Gardner, founder and CEO of Patriot. “Launchways is a growth machine, and Jim and Gary are the type of dynamic leaders that Patriot continues to invest in and build around. I am thrilled that they have chosen to grow their agency within our unique operational and cultural model.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

Human-centered design meets German engineering

‍MUNICH, GERMANY and CHICAGO, ILLINOIS – ProGlove, a leading provider of industrial wearables, today announced a $40 million investment from global growth equity firm Summit Partners. The company plans to leverage this funding to expand its international footprint and support its mission to connect the human workforce with the industrial Internet of Things (IoT).

Founded in 2014, ProGlove offers a scanner glove designed to improve the efficiency and effectiveness of scanning processes used across the manufacturing, logistics, transportation and ecommerce/retail sectors. ProGlove’s products are integrated into the factory and warehouse floor processes at some of the world’s most renowned brands including Audi, BMW, Bosch, Daimler, DHL and Lufthansa Technik. The company’s smart glove provides an ergonomic, hands-free barcode scanning solution that helps workers increase productivity and optimize workflow. While traditional handheld scanners tend to be unwieldy and bulky, the small form factor, lightweight, wearable design of ProGlove’s scanner unit allows users to reduce scanning time by up to 4 seconds per scan. In a warehouse or on a factory floor, this reduction represents an improvement in scanning efficiency of as much as 50 percent for some ProGlove customers. Additionally, the company’s smart glove provides direct feedback to the user via optical, haptic and acoustic signals, helping to eliminate mistakes and improve overall process quality.

“Organizations seeking to maintain a competitive edge in the era of Industry 4.0 must rethink and reinvent the way in which humans and machines interact. Wearable devices acknowledge the importance of enabling a smarter, more effective worker in the industrial IoT environment,” said Andreas Koenig, CEO of ProGlove. “Industrial wearables define the future of assembly, production and logistics processes. Our smart wearables are designed to function as a natural extension of the workers’ tools, strengthening the role of the human in today’s automated world.”

ProGlove got its start after earning recognition in Intel’s 2014 “Make it Wearable” challenge. Following an initial product development phase, ProGlove began commercializing its scanner glove in 2016 and quickly amassed a number of industry accolades and an impressive roster of customers. Today, the company operates on a global scale, serving more than 500 customers around the world from its offices in Munich, Germany and Chicago, Illinois.

“The market for industrial wearables is large and rapidly growing, and we believe ProGlove is well-positioned for continued growth as manufacturing and shipping processes increasingly depend upon smart scanning solutions to optimize productivity,” said Johannes Grefe, a Principal at Summit Partners who has joined the company’s Board of Directors.

“At Summit, we focus on partnering with companies that have the team, technology and vision to define the categories in which they operate. We believe ProGlove’s customer-centric approach to product design presents a significant opportunity to empower the human worker while increasing workplace efficiency,” added Dr. Matthias Allgaier, a Managing Director at Summit Partners who has also joined the ProGlove board.

“Our goal is to recognize and enable the value of human involvement in today’s increasingly automated industrial environment,” added Thomas Kirchner, Co-founder and Vice President Product at ProGlove. “We’re excited to work with Summit to expand our global reach and bring the industrial IoT to the human workforce on an international scale.”

‍About ProGlove‍

ProGlove develops industrial wearables. The smart solutions of the German headquartered company are used by more than 500 renowned organizations in manufacturing, production, logistics and retail. ProGlove was founded in December 2014 after winning the Intel "Make it Wearable" Challenge in Silicon Valley. ProGlove is backed by growth focused investors Summit Partners, DIVC and Bayern Capital. ProGlove employs 160 people from over 40 countries at its two sites in Munich and Chicago. More information is available at www.proglove.com.‍

About Summit Partners‍

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 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 on Twitter at @SummitPartners.

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.

Teaching Strategies, an "early childhood technology and services developer best known for its GOLD observation-based assessment system and its Creative Curriculum product lines for infants, preschoolers and kindergartners," has acquired ReadyRosie, a video modeling & mobile technology company that facilitates relationships between families & educators to promote school readiness.

Visit EdSurge to learn more about Teaching Strategies' latest partnership and the role of technology in enabling family engagement in early education.

Source: EdSurge

Summit Managing Director Greg Goldfarb was named to GrowthCap’s Top 25 Software Investors of 2019 list. GrowthCap’s inaugural list includes investment professionals who have demonstrated deep software sector expertise, high corporate strategic acumen, exceptional investment judgement, and consistent professional performance over a sustained period of time. Since joining Summit in 2002, Greg has completed more than twenty investments across the technology sector and beyond, with a particular focus on analytics and big data, cloud computing, enterprise applications, mobility and security, internet and electronic marketplace businesses, and unique consumer models and brands. Greg’s investment and director experience includes Clearwater Analytics, Cloudmark, Gainsight, onX, Jamf, PatSnap, Philz Coffee, Visier, RiskIQ, Rocket Fuel, TSheets, Web Reservations International, Wowza Media Systems and more.

Read more about Greg and his fellow honorees at GrowthCap.

‍

^{Award selections are determined based on GrowthCap’s evaluation of the nominee’s deep software sector expertise, high corporate strategic acumen, investment judgement, and consistent professional performance over a sustained period of time. 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 August 6, 2019.}

MINNEAPOLIS – Jamf announced today its acquisition of Digita Security, creators of enterprise-grade, purpose-built endpoint protection solutions designed to protect Mac users from malicious activities and threats, all while preserving the Apple experience users expect and love. With Digita Security, Jamf will complement its Apple management, authentication and account management solutions with a security offering to provide the industry’s most robust suite of capabilities in the Apple enterprise market. Details regarding availability of Jamf’s enterprise endpoint protection solution will be announced in the near future.

“There is undisputable evidence that demand for Mac in the enterprise is at a record high but, at the same time, security and privacy concerns are at a fever pitch,” said Dean Hager, CEO, Jamf. “By extending our existing suite of products with an endpoint protection solution built exclusively for Mac, we know we can further our mission to help organizations succeed with Apple by offering a complete set of capabilities required for Apple in the enterprise. We are excited to welcome the entire Digita Security team to Jamf and plan to aggressively invest in this important solution.”

Founded by a team of industry experts who are regarded as top researchers and developers in macOS security and malware analysis, Digita Security quickly realized there was a unique opportunity to provide a new enterprise endpoint protection solution built exclusively for Mac that works with and extends an organization’s existing security framework. With this laser focus, Digita Security’s approach is to fully leverage and extend the complete and latest native security capabilities for macOS to deliver the most robust and relevant solution for Mac on the market. Digita Security’s Apple-first and Apple-only approach will help ensure day-zero support for new macOS releases, so IT has insight into security vulnerabilities and can take advantage of new operating system security features. End users are also empowered with the latest macOS capabilities.

“There are many great security solutions in the market, but none of them focus on the unique security capabilities and threats for Mac, and the expectations of both enterprise IT/security and Mac users,” said Patrick Wardle, Chief Research Officer, Digita Security. “We knew early on there was a need for a purpose-built solution that provides the depth of security and peace of mind required by enterprise organizations, and to do so in a way that delivers a user experience that Mac users love. That’s why we started Digita Security and why we are thrilled to join Jamf and fully realize this shared vision.”

“Our employees use Mac because they make them more productive and collaborative, and with Jamf, are easier for our IT team to manage,” said David McIntyre, Ph.D., Chief Information Technology Officer, Build America Mutual. “We knew we needed an endpoint protection solution that preserved the Apple user experience while upholding our data security and privacy. Through Digita Security’s streaming insights, we have unprecedented visibility into our macOS fleet so we can maintain continuous compliance, detect advanced threats, and hunt suspicious behaviors. We’re excited about Jamf’s acquisition of Digita Security because their exclusive focus on helping organizations succeed with Apple ensures continued innovation in endpoint protection for Mac.”

Those interested in being kept up-to-date on future Jamf products can visit: https://www.jamf.com/lp/digita-security/

About Jamf
Jamf is committed to enabling IT to empower end users and bring the legendary Apple experience to businesses, education and government organizations via its product portfolio, and the 85,000 members of Jamf Nation. Today, 30,000 global customers rely on Jamf to manage 15 million Apple devices. To learn more, visit: https://www.jamf.com.

Source: Jamf

Combined Transportation SaaS Solutions Drive Modernization into Transportation Supply Chain

CARY, N.C. –MercuryGate® International, Inc., a leader in Transportation Management System (TMS) solutions, today announced it has acquired TranSolutions, Inc., the leading provider of transportation-centric claims management software.

Founded in 1997, TranSolutions is the world’s premier vendor of freight claim management software revolutionizing the logistics software industry with the introduction of myEZClaim, the world’s first freight claim software. The acquisition instantly enriches MercuryGate’s TMS portfolio with expansion into freight claim management solutions delivered on an integrated platform.

“MercuryGate delivers the most advanced TMS available in the market today because we continuously look for new ways to enhance our solution and deliver more value to our customers,” said MercuryGate President and CEO Joe Juliano. “Claims management is a rapidly growing focus across the industry. Adding TranSolutions’ revolutionary claims software to MercuryGate’s expansive transportation-centric solutions platform, delivers on our mission to continually add value and increase functionality for our customers. We are delighted to welcome TranSolutions to the MercuryGate team and look forward to a seamless transition and an enhanced customer experience for TranSolutions and MercuryGate customers.”

TranSolutions is the leading provider of claim management software to Fortune 1000 companies, leading 3PLs, freight brokers and carriers. The company provides a complete suite of solutions for cargo claims, freight bill overcharge, vendor claims and carrier claims designed to solve back office challenges.

Work management technology continues to change the way companies operate, from data capture, workflow management and automation tools designed to create greater levels of accessibility, transparency, efficiency, accountability and support financial accounting and reporting. As many companies move from manual paperwork and processes, these tools reduce the overall timeframe needed to manage the claim lifecycle and drawbacks from manual entry and limited visibility to provide a unified platform to quickly identify problems and support loss contingency decisions which impact operations and customer service performance.

“MercuryGate is an ideal partner for TranSolutions and a major win for TranSolutions customers,” said TranSolutions CEO Joe Celestina. “MercuryGate’s powerful TMS combined with TranSolutions’ freight claim management software will drive further efficiency within shipper enterprises to reduce labor and administrative costs, increase claim success rates, leverage analytics to drive modernization and improve claim turnaround. This is a win for our combined clients and the industry.”

Terms of the acquisition were not disclosed.

About MercuryGate
MercuryGate provides powerful transportation management solutions proven to be a competitive advantage for today’s most successful shippers, 3PLs, freight forwarders, brokers, and carriers. MercuryGate’s solutions are unique in their native support of all modes of transportation on a single platform including Parcel, LTL, Truckload, Air, Ocean, Rail, and Intermodal. Through the continued release of innovative, results-driven technology and a commitment to making customers successful, MercuryGate delivers exceptional value for TMS users through improved productivity and operational efficiency. MercuryGate offers business intelligence to improve transportation processes, increase customer satisfaction, and reduce costs. Find out why MercuryGate has set the industry standard for the most adaptable, comprehensive transportation solutions suite in the industry at www.mercurygate.com or on Twitter at @MercuryGate.

About TranSolutions, Inc.
TransSolutions is the world’s largest independent provider of claims management solutions with the unique ability to serve all market constituents worldwide, supporting more than 64,000 companies and 5,000+ users through shippers, 3PL’s, freight brokers, freight forwarders and carriers. For more information visit www.transolutionsinc.com.

Source: MercuryGate

FORT WASHINGTON, PA – Patriot Growth Insurance Services, LLC (“Patriot”), a national retail insurance agency, today announced the addition of Worksite Benefit Services, Inc. (“WBS”) to the Patriot platform. The partnership with WBS expands Patriot’s existing capabilities in the voluntary employee benefits space and adds additional enrollment consulting expertise.

Founded in 2002 and based in Alabama, WBS is a full-service voluntary benefits consulting firm specializing in custom outsourced benefit management solutions. The company offers a unique suite of employee benefit communication, engagement, enrollment and technology solutions to a variety of clients. WBS is led by Darell Eidson and Rick Herring, two dynamic executives with nearly 40 years of combined experience.

“Insurance needs and solutions are certainly not one-size-fits-all,” said Darell Eidson, co-founder and President of WBS, “which is why we take a consultative and customized approach to each enrollment and sales process to ensure that employees fully understand and value their various benefit options.”

“We prioritize the strength of our client partnerships above all else,” added Rick Herring, co-founder and CFO of WBS. “Patriot shares our commitment to exceptional customer service, and we are excited to join like-minded insurance leaders as part of the Patriot platform.”

The addition of WBS marks Patriot’s 21st partnership since its formation in early 2019, demonstrating the platform’s relentless pursuit of strategic growth and its ability to identify and seamlessly integrate premier insurance agencies across the U.S.

“WBS checks every box for us, and from the moment we met Rick and Darell we wanted them to be a part of what we are building,” said Matt Gardner, founder and CEO of Patriot. “We are thrilled that they have chosen to continue to grow their business within the Patriot family, and we look forward to leveraging their expertise across our entire organization.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

Medical Marketing & Media reports that Healthline Media surpassed WebMD in monthly unique visitors for the first time this June, according to Comscore. The company also saw growth outpace its rival, reporting a 35% increase in visitors year-over-year, versus 2% for WebMD. Healthline CEO David Kopp indicated that the company’s "No. 1 ranking reflects the impact we’re making by providing new channels and approaches to connect people to information about health and wellness." Kopp attributed this milestone to "Healthline’s relentless focus on quality that delivers empathy, medical accuracy, meaningful community engagement, and content that communicates what consumers need along their health journeys."

In addition, Comscore has ranked Healthline No. 1 among mobile health information websites and in the health category overall for the past six months.

Summit Partners invested in Healthline Media in 2016. Healthline was acquired by Red Ventures in 2019.

Source: Medical Marketing & Media

Since Summit’s 2016 investment, Healthline has grown to become the #1 online health information publisher in the U.S.

CHARLOTTE, NC – Red Ventures, a portfolio of digital companies headquartered in Charlotte, NC, has acquired Healthline Media (“Healthline”), a publisher of two of the four largest consumer health and wellness information sites in the world, from Summit Partners for an undisclosed amount. Through authoritative health and wellness content, Healthline reaches over 150 million visitors a month globally, more than any other online health publisher.

“The healthcare sector is facing rapid disruption, and Healthline is one of the most trusted and fastest growing sources of information for consumers in their personal healthcare journey,” said Red Ventures CEO, Ric Elias. “We see a tremendous opportunity to combine our digital marketing expertise, tech platform and products with Healthline’s portfolio of digital assets and best-in-class content to help people take their health into their own hands and find the resources and healthcare services they need.”

Through Healthline.com, MedicalNewsToday.com, and Greatist.com, Healthline represents the largest and fastest growing healthcare audience online. Healthline’s flagship site, Healthline.com, delivers consumer content, tools, and experiences to help millions of monthly visitors live their strongest and healthiest lives. Partners and advertisers rely on Healthline to reach health-conscious consumers through engaging content, targeted advertising and branded campaigns.

Healthline employs more than 300 employees across primary offices in San Francisco, New York and Brighton, UK.

“Red Ventures’ ability to meaningfully accelerate our business and our team’s vision of a stronger, healthier world is compelling,” said David Kopp, CEO of Healthline. “We are truly grateful for Summit Partners’ strong support and enablement of our remarkable growth, and we look forward to collaborating with Red Ventures on even larger future opportunities.”

In 2016, Summit Partners invested in Healthline Media to help it realize its mission to be the most trusted ally for millions of health-seekers across demographics and digital devices. Since that time, the company has more than tripled revenue, global reach and employees.

“It has been a great privilege to work alongside the passionate, talented team at Healthline, and we are thrilled that they have found another like-minded partner in Red Ventures,” said Dr. Craig Frances, Managing Director at Summit Partners. “The Healthline and Red Ventures teams understand well the increasing importance of online and mobile channels as a resource for health information, and we are confident that together they will continue to deliver on the mission to motivate and inform healthcare consumers.”

Related coverage: Healthline Tops WebMD in Monthly Visitors

About Red Ventures
Founded in 2000, Red Ventures is a portfolio of growing digital businesses that bring consumers and brands together through integrated e-commerce, strategic partnerships and 17 proprietary brands across the Financial, Home, Health, Education and Digital Services. Headquartered just south of Charlotte, NC, Red Ventures has 3000 employees in offices across the US, as well as London and Sao Paulo. For more information, visit www.redventures.com.

About Healthline Media
As one of the fastest growing consumer health information sites, Healthline.com advances Healthline's mission is to be our users' most trusted ally in their pursuit of health and well-being. Healthline provides socially inspired, medically reviewed and data-driven content to help us all live stronger, healthier lives. Healthline's flagship website Healthline.com takes a whole-person approach to health and wellness information to support the modern health consumer.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 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 on Twitter at @SummitPartners.

Source: Red Ventures

Investment to fuel further international growth and technology innovation for Signavio’s one-million users

BERLIN, NEW YORK – Signavio, a leading provider of business transformation solutions, today announced a $177 million investment to fuel continued international expansion and further investment in its world-class software suite. The transaction was led by Apax Digital, the growth equity team of Apax Partners, with participation from DTCP. Existing investor Summit Partners will retain an equity stake in the business.

Signavio’s Business Transformation Suite enables its over 1,300 customers to effectively mine, model, monitor, manage and maintain their business processes. Its intelligent decision-making tools address digital transformation, operational excellence and customer centricity, helping place process at the very heart of organizations. Signavio has grown its revenue by more than 70% in the last twelve months. Today the company’s software is used by more than one million users across industries and geographies, including leading companies such as SAP, Deloitte, Liberty Mutual, Bosch, Comcast-NBCUniversal.

This new investment will be used to accelerate international expansion and to further invest in Signavio’s product suite. The company already has 9 offices across the world and is expanding operations in Japan and India, increasing its employee base by over 50% in 2019. Earlier this year, Signavio was recognized as a March 2019 Gartner Peer Insights Customers’ Choice for Enterprise Business Process Analysis Software.

“10 years ago, we set out on a journey to tackle the time-consuming practices that limit business productivity,” said Dr. Gero Decker, CEO and co-founder of Signavio. “This significant new investment further validates our approach to solve business problems faster and more efficiently, unleashing the power of process through our unique Business Transformation Suite. We are thrilled to welcome Apax Digital as our new lead partner, and look forward to building upon our success to date by leveraging our partners’ operating capabilities and global platforms for our international expansion.”

Concurrent with this investment, Daniel O’Keefe, Managing Partner, and Mark Beith, Managing Director, of Apax Digital will join Signavio’s board of directors. Summit Partners Managing Director Matthias Allgaier will retain a seat on the company’s board of directors.

“As businesses have become more global, and workforces more distributed, business processes have proliferated, and become more complex,” noted Mr. O’Keefe and Mr. Beith. “Signavio’s cloud-native suite allows employees across an enterprise to collaborate and transform their businesses by digitizing, optimizing and ultimately automating their processes. We are tremendously excited to partner with the Signavio team and to support their vision.”

“With innovative, intelligent and easy-to-use solutions, Signavio is helping to enable digital transformation across thousands of organizations worldwide, enabling new use cases and extending the reach of BPM software from IT to business users,” said Matthias Allgaier, Managing Director with Summit Partners, which first invested in Signavio in 2015. “It has been a delight to work closely with Gero and the entire team to support the company’s impressive growth thus far. We are thrilled to welcome Apax and to continue our partnership with Signavio.”

The transaction is expected to close later this year, subject to regulatory approvals.

About Signavio
Over 1 million users in more than 1,300 organizations worldwide rely on Signavio’s unique offering to make process part of their DNA. Signavio’s business transformation suite enables mid-size and large organizations to effectively mine, model, monitor, manage and maintain their business processes. Its intelligent decision-making tools address digital transformation, operational excellence and customer centricity, placing them at the heart of the world’s leading organizations. Headquartered in Berlin, with offices in US, UK, France, Netherlands, Switzerland, Singapore and Australia, Signavio is well placed to deliver local services on a global scale. For more information, visit www.signavio.com.

About Apax Digital
The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit http://digital.apax.com.

Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About DTCP
DTCP is an investment management group with c. $1.7 billion assets under management and advisory from Deutsche Telekom and other corporate and institutional investors, and a portfolio of over 60 companies. The group provides venture and growth capital, private equity investments, and advisory services to the technology, media and telecommunication sectors. It operates and invests in Europe, the US, and Israel. To learn more about DTCP, visit www.telekom-capital.com or @TelekomCapital on Twitter.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 500 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 on Twitter at @SummitPartners.

Gartner Disclaimers
Gartner Peer Insights Customers’ Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Source: Signavio

In July 2019, Etsy announced that it has signed a definitive agreement to acquire Reverb, a leading online marketplace for new, used and vintage musical instruments. Summit Partners invested in Reverb in 2015, backing CEO and Founder David Kalt for a second time. Below, Andy Collins shares his perspective on the Reverb story and how the powerful combination of product passion and community strength can drive growth.

E-commerce brands go to market differently today than in prior decades. The most successful are led by teams with a true passion for their product and are energized by the community that shares in that passion. Reverb has both of these characteristics – product passion and community strength – in spades.

Founded by David Kalt in 2013, Reverb began with a simple goal: make it easier and more affordable to buy and sell music gear online. A musician himself, David built a team of musicians around him, individuals with a love for and an intimate understanding of the product they were working to create. In just a few short years, the Reverb team has translated this product – and the brand and business that it represents – into so much more. Today, Reverb is “home” to an engaged and authentic community where musicians come to learn, be inspired and connect over the perfect instrument. The Reverb team has worked to create content, add features and deliver services that foster engagement, build trust and, importantly, allow for more seamless transactions on the Reverb marketplace. The success of the platform offers clear evidence of the power of a “product + community” combination.

Across geographies, demographics, end markets and business models, we have witnessed the enormously powerful impact that this combination can have on brand creation. We see it within the Summit Partners portfolio and elsewhere – in software, in healthcare, in B2B and B2C business models. Communities – of professionals with similar purchasing decisions, of patients seeking perspective on personal health, of consumers looking for insight on or validation of a product – will rally around great products, help to foster a deep sense of loyalty and can help drive outsized growth.

Today, we want to celebrate the strength of the Reverb community and the growth story they helped to create. We congratulate David and the Reverb team on the beginning of a new chapter in this great story. We are confident that joining Etsy will further fuel the growth of the Reverb community and that together, they will make the world even more musical.

This post originally appeared on LinkedIn.

Since 1984, Summit Partners has invested in more than 500 companies in technology, healthcare, consumer, financial services and other growth sectors. An alphabetical list of Summit Partners' growth equity portfolio companies can be found here.

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_{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.}

Sophia Popova, a Vice President in Summit’s Boston office, was named to Mergers & Acquisitions ’ 2019 Rising Stars of Private Equity list. Sophia was recognized for her investing acumen in the technology sector, where she has played an active role in four Summit investments since joining the firm in 2017, representing more than $450 million in invested capital. Her recent investment experience includes Klaviyo, a SaaS data and marketing automation platform, and Markforged, a manufacturer of industrial 3D printers and printing systems.

Beyond investing, Sophia was recognized for her active role in recruiting top talent to Summit and for her commitment to furthering an inclusive community at the firm. She serves on Summit’s diversity committee and has helped recruit several women to the investment team.

Mergers & Acquisitions ’ 2019 Rising Stars of Private Equity list recognized 10 emerging leaders who are making an impact within their respective firms and across the industry overall. Read more about Sophia and her fellow honorees at www.themiddlemarket.com.

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^{Award selections are determined based on Mergers & Acquisitions’ evaluation of the nominee.  The 2019 Rising Stars of Private Equity were selected by the editorial team of Mergers & Acquisitions, led by Editor-in-Chief Mary Kathleen Flynn and including Demitri Diakantonis, Danielle Fugazy, Keith Button and Mike Schnitzel.  Information on each nominee was received through nomination application forms, Merger & Acquisitions’ 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 Merger & Acquisitions’ website.}

^{This award is the opinion of the party conferring the award and not of Summit Partners.  Mergers & Acquisitions’ 2019 Rising Stars of Private Equity was issued by Merger & Acquisitions on July 1, 2019.  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.}

FORT WASHINGTON, PA – Patriot Growth Insurance Services, LLC (“Patriot”), a national retail insurance agency, today announced the addition of Schaefer Enterprises, Inc. (“SEI”) to the Patriot platform. The addition of SEI immediately expands the depth and breadth of Patriot’s property and casualty insurance services and will help to advance the platform’s continued national expansion.

Founded in 1999 and based in Manhattan, SEI is a full-service insurance agency specializing in all aspects of business, personal and program insurance. The company offers comprehensive insurance services including general liability, property, professional liability, workers’ compensation and more to businesses of all sizes, ranging from entrepreneurial startups to publicly-traded companies. Founder and President Greg Schaefer leads a dynamic team of professionals dedicated to helping businesses minimize their cost of risk without compromising coverage or customer service.

“Our clients have always come first, and SEI's long-term client relationships and history of growth have been fueled by our exceptional customer service and committed staff,” said Greg Schaefer, founder and President of SEI. “We explored a number of strategic alternatives, and in the end found Patriot’s core values to be in complete alignment with our own.”

SEI serves clients throughout the New York metropolitan area and across a diverse set of industries including construction, healthcare, retail, sports and more. With account specialists dedicated to understanding the specific concerns of even the most niche industries, SEI’s vibrant team has the expertise and industry knowledge necessary to ensure the best possible outcomes for their clients.

“We are beyond thrilled to plant the Patriot flag in the ground in New York City with such a dynamic and rapidly growing firm,” said Matt Gardner, founder and CEO of Patriot. “Greg and the entire SEI team check every box that we look for in an agency partner; we’re looking forward to supporting them as they continue to strategically expand their business.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

When the opportunity to become an entrepreneur came along, Laura Urquizu didn’t hesitate. Joining Red Points was an opportunity for her to leverage everything she had learned over the years, to build her own category-defining company. Under her lead, Red Points has undergone a significant transformation, expanded its brand protection remit and shifted to a SaaS model. In doing so, the company has gotten closer to becoming a household name in the brand intelligence market.

Today, Red Points removes more than 25,000 incidents of illegal products and content from the web each month. CEO Laura Urquizu spoke to Forbes about the company’s transformation from a startup to global leader in online IP infringement detection and removal. Read more in Forbes.

Source: Forbes

Leading higher education firm will accelerate digital transformation across traditional undergraduate enrollment, graduate programs, online programs, and alumni engagement and fundraising

RNL, the leading provider of higher education enrollment, student success, and fundraising solutions, today announced its strategic acquisition of Converge, the digital marketing firm for higher education.

The acquisition of Converge allows RNL to amplify its solutions for college student recruitment and marketing, especially with graduate, online, and continuing education students. The graduate and online market will become increasingly important for colleges and universities in the future as students choose how to consume content and credentials and skills become more important. Converge’s focus on the graduate and online population is a core piece of its business. Over the past seven years Converge has partnered with graduate and online programs from leading business schools to engineering programs, new certificate programs, and top-ranked brands. Converge brings its extensive experience working with 300+ programs, proving tremendous ROI for graduate and online learners to RNL.

“We are thrilled to become part of RNL and enable colleges and universities to take advantage of our combined expertise. The combination of Converge’s top-notch digital expertise and RNL’s research and follow up post-inquiry is the perfect solution to proving ROI,” said Ann Oleson, founder and CEO of Converge. “The leadership team at RNL is dialed into what is ‘new and next’ and invested in the future of higher education. That includes understanding that graduate, online, and continuing education will only become more important in the future as people look to gain additional certifications and knowledge and employers expect a different level of sophistication.”

The acquisition also enhances RNL’s digital marketing capabilities within its omnichannel solutions for enrollment and fundraising—including AI chat, digital engagement centers, digital advertising, and ultra-personalized experiences for prospective students and donors. With the Converge acquisition, RNL adds the agency’s digital solutions and insights, especially Converge’s ability to curate cross-channel campaigns that power successful enrollment and fundraising strategies.

“The constant state of digital transformation makes it challenging for colleges and universities to provide the online experiences their constituents expect,” said Sumit Nijhawan, president and CEO of RNL. “With this acquisition and subsequent elevation of RNL’s capabilities, we will transform the ability of campuses to engage prospective students and donors on any device, across any channel, at any time. This 24/7, omnichannel, personalized engagement plays an essential role in helping institutions increase their connections with students and alumni, maximize their enrollment and fundraising results, and remain sustainable in an increasingly challenging higher education environment.”

To learn more about RNL’s acquisition of Converge and how it benefits higher education, visit RuffaloNL.com/Converge.

About RNL
RNL is the leading provider of higher education enrollment, student success, and fundraising solutions. More than 1,900 colleges, universities, and nonprofit organizations rely on RNL for advanced analytics, personalized engagement, and industry-leading insights to achieve their missions. The firm is focused on the entire lifecycle of enrollment and fundraising, assuring students find the right college or university, graduate on time, secure their first job in their chosen field, and give back to support the next generation. RNL conferences, research reports, papers, and articles help clients stay on top of current trends. Learn more at www.RuffaloNL.com.

About Converge
Converge is the digital agency for education. They leverage data-driven digital marketing practices to connect the next generation of learners with best-fit institutions and programs, developing sound strategy and translating it into campaigns that deliver ROI. Converge has worked with 100 institutions and more than 300 programs for digital advertising, content and communications, data analytics and reporting, website strategy and optimization, and strategic consulting. They offer experience in education, experience in digital, and experience with inbound. Learn more at www.convergeconsulting.org.

Source: RNL

Investment to accelerate delivery of outcome-focused security operations solutions

Red Canary, a leading provider of security operations solutions, today announced that it has raised $34 million in a funding round led by global growth equity investor Summit Partners and joined by existing investors Access Venture Partners and Noro-Moseley Partners. The company will leverage this funding to scale its team in support of Red Canary’s mission: to create a world where every organization is free to make its greatest impact without fear of damage from cyber attack.

Red Canary is a pioneering provider of managed detection and response ("MDR") solutions. MDR is one of the fastest growing areas of the information security market. Founded in 2014, Red Canary already defends hundreds of organizations around the world – from global Fortune 100s to 100-employee organizations. The company’s proprietary software platform ingests and analyzes over 500 terabytes of telemetry per day and applies proprietary behavioral analytics technology to surface potential threats to an in-house team of expert security analysts.

“We are in the golden age of data in security. Security teams have more telemetry, tools, and budget than ever before but unfortunately, in many cases, this has not resulted in a meaningful improvement in security outcomes,” said Brian Beyer, CEO and co-founder of Red Canary. “We serve as a security ally for our customers, helping their teams get the most out of modern security technology, protect their valuable data and remain focused on the performance of their own business.”

Red Canary provides a unique solution that fully integrates MDR and security orchestration, automation and response (“SOAR”) capabilities to measurably decrease the time required to resolve threats. The company’s cloud-based solution is deployed in minutes and allows security teams to decrease mean time to respond by up to 10x and drive meaningful reduction in realized risk per endpoint over time.

“Across the security landscape, there is increased acknowledgement that a ‘status quo’ approach is inadequate,” said Andy Collins, a Managing Director at Summit Partners who has joined Red Canary’s Board of Directors. “Attackers bypass even the best security technology solutions on a daily basis. We believe Red Canary’s software-driven model delivers a uniquely high-quality, continuously improving service. And the results – an incredibly passionate customer base and year over year ARR growth exceeding 100% – speak for themselves.”

“Our work in the trenches alongside security teams over the last five years has proven time and again that there is a huge need for Red Canary’s solutions. That need is reflected in our consistently rapid growth and off-the-charts customer satisfaction. But it is also readily visible in the incredible engagement from the security community through our blog, webinars, and open source projects like Atomic Red Team,” Beyer added. “We’re ecstatic to work with Summit to expand our reach and help more organizations make meaningful, measurable improvements to their security outcomes. We believe the best is yet to come.”

About Red Canary
Red Canary is a security operations ally to organizations of all sizes. The company delivers outcome-focused solutions that can be deployed in minutes to identify and shut down attacks. Founded in 2014, Red Canary is a pioneer in providing managed detection and response solutions that integrate behavioral analytics and automated response with 24/7/365 investigation by an expert Cyber Incident Response Team. To learn more, visit https://redcanary.com/.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 480 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable security technology companies financed by Summit Partners include Avast, Darktrace, InfoArmor, McAfee, NetWitness, RiskIQ and Safeboot. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

A Cloud Guru is teaching the world to cloud. Its state-of-the-art learning platform helps businesses and individuals rapidly develop cloud skills, prepare for certification exams, and progress through learning paths to become gurus in specialized disciplines.

Austin, TX — A Cloud Guru (“ACG”) today announced that it has closed a growth equity investment led by Summit Partners, alongside AirTree Ventures and existing investor Elephant. The company, a clear leader in online cloud computing training and talent development, will use the funding to accelerate hiring across the globe, expand its content library with specialized courses and labs taught by a growing roster of expert instructors and continue to build out features to help enterprises drive cloud adoption.

Founded in 2015 by brothers Sam and Ryan Kroonenburg, ACG is driven by a straightforward mission— to teach the world to cloud. What began as a single cloud certification course has expanded into a rich content library and hands-on labs covering Amazon Web Services, Google Cloud Platform and Microsoft Azure cloud platforms.

ACG has helped more than 850,000 users across 186 countries acquire the skills and certifications needed to pursue meaningful careers in the cloud. The state-of-the-art learning platform helps businesses and individuals rapidly develop cloud skills, prepare for certification exams, and progress through learning paths to become gurus in specialized disciplines.

“We are humbled by this level of support from our investment partners,” said Sam Kroonenburg, co-founder and CEO of A Cloud Guru. “We are eager to continue building our engineering, content, and go-to-market teams to support our customers and partners. We are now even better positioned to help more businesses and individuals learn to cloud.”

“Enterprise workloads continue to move to the cloud at an enormous pace, requiring a new set of IT skills to design, manage and secure applications,” said Tom Jennings, Managing Director at Summit Partners who has joined the company’s board of directors. “ACG’s platform uniquely enables organizations to develop their existing employees’ cloud skills and provide ongoing training to ensure continued aptitude in cloud architecture. And the results are impressive.”

In May 2018, A Cloud Guru launched ACG for Business, a learning management and talent development platform designed to provide businesses with a scalable, predictable path for building a highly-skilled cloud workforce. ACG’s Accelerator Program and Learning Paths enable enterprises to quickly onboard their teams to the cloud and provide professionals with a step-by-step path from beginner to expert across specific IT domains. ACG for Business helps enterprises meet and exceed their cloud ROI goals and is the cloud training platform of choice for companies including Dow Jones, Capital One DevExchange, and Qualcomm.

“It’s amazing to think how far we’ve come since those early days in 2015,” said co-founder Ryan Kroonenburg. “To all of the awesome Cloud Gurus who have supported us along the way, we want to say thank you. You are the reason we are where we are today. With this round of investment, we have additional resources to do even more in support of the A Cloud Guru community. Keep being awesome, Cloud Gurus.”

About A Cloud Guru
A Cloud Guru is the premier learning and talent development platform for cloud computing, delivering world-class courses by engineers, for engineers. Our state-of-the-art platform provides both businesses and individuals with the ability to stay current, stay relevant, and deliver results with cloud computing. To date, more than 850,000 students across 186 countries have taken our courses, labs, and quizzes. To learn how A Cloud Guru can accelerate your team’s adoption of cloud computing, please visit acloud.guru.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 480 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Market leader announces first major equity transaction and plans to build a technology powerhouse in Boston

BOSTON, MA – Klaviyo, the SaaS company that obsesses about helping its customers grow, today announced a $150 million investment from global growth equity firm Summit Partners. The funding will be used to hire hundreds of engineers, build the corporate development team and expand in other areas, predominantly in the company’s Boston headquarters.

Klaviyo believes that growth-focused companies must leverage email, website and mobile channels – the channels they “own” – to help accelerate sales and build stronger relationships with customers. By facilitating thoughtful, data-driven customer communication, Klaviyo enables its customers to build relationships at scale, unencumbered by ad networks and other intermediaries. The Klaviyo platform stores a complete view of each end customer’s activities paired with flexible and real-time segmentation to deliver on brand experiences with automatic revenue attribution – all at a fraction of the time and cost of traditional enterprise approaches.

“We’re focused on delivering a platform that quickly drives growth for our customers using channels they need to own,” said Andrew Bialecki, CEO and co-founder of Klaviyo. “Klaviyo’s data and marketing automation platform is powerful, intuitive and cost-effective – allowing marketers to measure and immediately understand what matters most, revenue.”

Klaviyo’s extremely fast time-to-revenue allows companies of all sizes to take advantage of the customer relationships and data they already have. On average, Klaviyo’s customers grow revenues 29% more in the first six months after making the switch to the Klaviyo platform. Today, more than 12,000 brands – including ecommerce leaders such as Bonobos, CustomInk, Colourpop, Steve Madden and Untuckit – rely on Klaviyo to drive sales with super-targeted, highly relevant marketing campaigns and other customer experiences.

“Klaviyo continues to change the playing field in commerce, allowing companies of all sizes to harness the power of data-driven customer engagement activity to grow sales – and the results are impressive,” said Michael Medici, a Managing Director at Summit Partners who has joined the Klaviyo Board of Directors. “With a truly unique combination of product vision and technical expertise, Andrew and the Klaviyo team have built a durable business. We look forward to partnering with them during this next phase of growth.”

Klaviyo continues to aggressively work to build the best place to learn and grow for engineers. Benefiting from a belief that companies do not need to burn cash to achieve greatness, Klaviyo continues to challenge its team and unlock customer growth, all while remaining fast-growing and profitable.

“We have built a product- and engineering-led company that we believe gives the world’s best technical talent an opportunity to work on exciting, customer-centric product development,” said Bialecki. “We are incredibly proud to do this here in Boston – a city with access to an enormous and extraordinary pool of talent. Building an enduring, high-growth business in this city is a core part of the Klaviyo mission.”

About Klaviyo
Klaviyo is a data and marketing platform that accelerates growth for companies by enabling them to leverage their owned marketing channels. Klaviyo makes it easy to access, store, analyze, and use transactional and behavioral data to power highly-targeted email and advertising campaigns. And unlike other marketing platforms Klaviyo doesn't force companies to choose between advanced functionality or ease of use - so brands are able to maximize their sales quickly. That's why over 12,000 innovative companies like Steve Madden, Taylor Stitch, and Bonobos sell more with Klaviyo. Learn how they're doing it at www.klaviyo.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable SaaS and retail technology companies financed by Summit Partners include FineLine Technologies, Fuze, Gainsight, Infor, Mi9 Retail, Podium, RELEX, Reverb, Sezane, RightNow, Smartsheet and Unica. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

“We came from families that started small businesses from scratch and ran them for decades. We wanted to try to build something like that. Our mentality is that we’re going to be a self-sustaining business, and we want to be here for decades.”

Andrew Bialecki, CEO and cofounder of Klaviyo, talks to TechCrunch about bootstrapping, building a durable growth business, and why this is the right time to raise capital.

Source: TechCrunch

New Financing Solidifies Company’s Growth Plan and Vision to Protect Brands and Consumers from Online IP Infringements

BARCELONA, SPAIN - Red Points, a global leader in online IP infringement detection and removal, announced today that it has closed $38 million in funding, bringing the company’s total capital raised to $64 million and cementing its global footprint in the online brand protection space. The round was led by Summit Partners, with additional participation from existing investors Northzone, Mangrove, Eight Roads Ventures and Banco Sabadell.

“Brands have never been more vulnerable to the issues of online counterfeiting, piracy and distribution fraud."

“Brands have never been more vulnerable to the issues of online counterfeiting, piracy and distribution fraud,” said Laura Urquizu, CEO and Partner of Red Points. “This growing threat makes it nearly impossible for a company to protect its online assets effectively without full visibility into its brand’s online presence. This investment round from Summit Partners will help to strengthen Red Points’ position as a global leader in addressing the ever-growing, rapidly evolving problem of online brand abuse. With this new funding, we plan to further expand our technology and global footprint with the goal of empowering brands worldwide to seamlessly protect their valuable assets online.”

The continued growth in global ecommerce has driven an acceleration in online counterfeiting, shining a bright light on the need for IP infringement detection. The International Chamber of Commerce estimates that the global economic value of counterfeiting and piracy could reach $4.2 trillion by 2022 and put 5.4 million legitimate jobs at risk over that time period. Red Points’ AI-driven technology takes a holistic approach to brand protection by providing comprehensive visibility into the different types of infringements negatively impacting a company’s reputation across black, grey and white markets, offering a more complete, real time protection for a company’s IP assets.

Red Points’ platform leverages artificial intelligence to continuously connect a targeted web crawler to a rules-based rights management database that learns from each account’s history and improves the level of protection over time. Red Points’ proprietary software currently removes hundreds of thousands incidents of illegal products and content from the web monthly, across over 100 online marketplaces and social networks. Red Points’ solutions are used by over 550 brands worldwide including Bang & Olufsen, MVMT and DOPE. As a result of its successful expansion, the company’s growth rate exceeded 100% for 2018.

"Brands around the world are facing an unprecedented rise in online IP infringement. Red Points is a category-leader, offering an intelligent and robust technology platform that is purpose-built to address this growing pain point."

“Brands around the world are facing an unprecedented rise in online IP infringement. Red Points is a category-leader, offering an intelligent and robust technology platform that is purpose-built to address this growing pain point,” said Steffan Peyer, Principal at Summit Partners. “With differentiated technology and a strong leadership team, we believe that Red Points is well positioned to accelerate its growth and further solidify its leadership in the Brand Intelligence market.”

Red Points expanded the brand protection offering on its platform last year with the launch of a new seller tracking solution to help brands worldwide gain greater visibility into their online partner activities, using state-of-the-art technology. The company also expanded its global footprint by opening their US headquarters in New York.

About Red Points
Red Points is a Barcelona-based company offering the leading all-in-one SaaS solution for detecting and enforcing online IP infringements, including online counterfeiting, piracy and distribution fraud. Red Points’ proprietary software currently removes more than 100,000 incidents of illegal products and content from the web daily. Red Points protects a diverse set of brands from baby products and cosmetics, to software and wind turbine manufacturers. To learn more about Red Points, please visit: www.redpoints.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology and software companies financed by Summit Partners include Avast, Darktrace, FLEETCOR, HelpSystems, Infor, Mi9 Retail, OnRobot, Perforce Software, RELEX Solutions, Smartsheet, Trintech and Uber. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

"The technology we are providing to our clients, to the market, and to companies — it’s very new, very innovative and very different to anything that is out there...we have been able to automate the process from detection to enforcement using machine learning and artificial intelligence.” Laura Urquizu, CEO of Red Points, talks to TechCrunch about the company’s recent fundraise and the increasing threat of online counterfeiting and piracy.

Source: TechCrunch

The acquisition advances Ascentis’ workforce management initiatives and further reinforces its HCM offerings as the HR industry’s preferred solutions

MINNEAPOLIS – Ascentis, a leading provider of cloud-based human capital management solutions, today announced the acquisition of premier time and attendance solutions company, Integrated Time Systems. The acquisition demonstrates Ascentis’ commitment and strategic investment in growing its differentiated workforce management initiatives and advancing its exceptional end-to-end HCM solutions and services available through the family of Ascentis products. This marks the company’s third acquisition in six months.

“We are excited to have the ITS team join the Ascentis family. Our acquisition strategy of joining forces with the industry’s top workforce management solutions, including NOVAtime and Cincinnati Time Systems, who share our passion and commitment for unparalleled customer service, is a key ingredient to our strategy of providing a-la-cart HR technology with the flexibility to integrate and deploy solutions and capabilities as the organization grows,” said Brian Provost, CEO of Ascentis.

Wisconsin-based ITS has been a key part of the southeastern Wisconsin community for more than 70 years. Led by owner and president, Chris Kapenga, who purchased the company in 2008, ITS has a renowned reputation for its dedication and unsurpassed focus on client service since the 1920’s. In 2015, ITS acquired prominent, Texas-based time and attendance company, Accutronics, to expand its geographic presence and build upon existing solution synergies between the two companies.

“We’re thrilled to strengthen and optimize our client offerings within the local economies in which ITS currently serves. We’re also eager to collaborate and utilize ITS’ industry expertise to help build upon and advance Ascentis’ full suite of HR technology that includes a service model that simply doesn’t exist in today’s HCM market,” said Kapenga.

“The addition of Integrated Time Systems is a natural fit for the Ascentis brand and further solidifies our market presence in the Midwest. ITS’ clients will benefit and have the opportunity to expand services within our full-suite of leading-edge HCM technology while continuing to experience the same excellent customer service mentality they’ve come to expect. With access to services such as payroll, HRIS, talent and recruiting technology, ITS’ customers are now able to holistically support their teams and employees,” continued Provost.

Headquartered in Minneapolis, Minnesota and with locations in the Los Angeles area, Sacramento and Cincinnati, Ascentis leverages more than 30 years of human resource experience and workplace management solutions to accelerate growth and strengthen the company’s position in the HCM market.

About Ascentis
Ascentis helps organizations improve their human resources and payroll functions by offering an all-in-one human capital management solutions suite, supported with a first-of-its-kind client-centric service model. Recruiting, HRIS, benefits administration, performance and learning management, payroll and workforce management modules work independently or together to meet the needs of each client, wherever they are in the HCM journey. Ascentis enables mid to large size companies to maximize management of their best asset – their people! For more information, please visit www.ascentis.com.

About Integrated Time Systems
Designed to simplify and satisfy, Integrated Time Systems offers scalable time management solutions to assist organizations in achieving their workforce management goals. With its exceptional, “Disney-like” approach to customer service, ITS’ flexible, easy-to-use time and attendance solutions leverage highly valued, skilled team members offering a customer experience second to none. For more information, please visit www.integratedtime.com.

Source: Ascentis

Acquisition Strengthens and Expands Talent Management Offerings for SMBs

Hopkinton, Mass. – PrismHR, the leading HR software platform for human resource outsourcing (HRO) service providers, today announced it has acquired AgileHR, a leading provider of cloud-based talent management software.

In January, PrismHR announced that AgileHR’s performance management solution was integrated with its HR platform and made available through the PrismHR Marketplace. With today’s announcement, PrismHR has acquired AgileHR and its full suite of talent management solutions. Terms of the deal were not disclosed.

“Our HRO customers consistently report that talent acquisition and performance management are key challenges for their small business clients,” said Gary Noke, president and CEO of PrismHR. “We’re excited to add the full suite of AgileHR solutions to the PrismHR platform and remain committed to offering our customers the ability to choose from a wide range of talent management solutions available from both PrismHR and our Marketplace partners.”

According to PrismHR’s 2019 HRO Trends Report, 51% of SMBs cite hiring qualified employees is a significant business challenge, and 56% of HROs see the issue as a top challenge for their SMB clients. Talent management solutions help employers quickly and efficiently find, hire, onboard and manage employees, enabling SMBs to grow and manage their businesses more effectively. A copy of the 2019 Trends Report can be downloaded here.

The acquisition of AgileHR and addition of its talent management solutions to PrismHR’s portfolio of HR software products demonstrates the company’s commitment to providing its HRO customers with a wide range of best-of-breed solutions for their SMB clients.

“We recently began offering AgileHR’s performance management suite and our customers are already seeing significant value gained by simplifying and automating performance management,” said Carmen Perez, technology solutions lead at EmPower HR, a Milwaukee-based Professional Employer Organization (PEO) and customer of both PrismHR and AgileHR. “We’re looking forward to seeing PrismHR’s expanded suite of talent management offerings and expect our customers will be eager to adopt them as well.”

Eric Carlson, president and CEO of AgileHR commented, “PrismHR is widely regarded as the premier technology platform for HROs. We’re excited to be joining forces with the company and to making our talent management solutions more widely available and tightly integrated with the PrismHR platform.”

For more information about PrismHR’s acquisition of AgileHR please visit our FAQs.

About PrismHR
Backed by Summit Partners and Accel-KKR, PrismHR’s software and services empowers human resource outsourcing service providers such as Professional Employer Organizations (PEOs) and Administrative Service Organizations (ASOs) to deliver world-class payroll, benefits and HR to small and medium sized businesses (SMBs). PrismHR software is used by more than 88,000 organizations and 2.2 million worksite employees, processing greater than $57 billion in payroll each year. For more information, visit www.prismhr.com.

Source: PrismHR

Acquisition Grows Paradigm Complex Care Solutions’ Capabilities and Expands Nationwide Footprint

WALNUT CREEK, CA — Paradigm, the industry leader in solving complex healthcare challenges and improving lives for injured workers, today announced it has acquired Restore Rehabilitation, a leading case management company that provides field coverage in 27 states and nationwide telephonic coverage. The acquisition will strengthen Paradigm’s Complex Care Solutions division, which is focused on achieving outcomes while optimizing costs for cases involving complex injuries.

“Today’s acquisition empowers Paradigm’s Complex Care Solutions team to deliver our industry-leading services across the care continuum for injured workers with unrivaled breadth and depth,” said Marijo Storment, CEO, Paradigm Complex Care Solutions. “Our aim is to set a new standard for managing complex healthcare needs with a service-driven approach that focuses on outcomes. To achieve our goals, we recognized the value of joining forces with a team that is aligned with our vision. Restore Rehabilitation expands our ability to service more clients nationwide with a team of case managers who are the best at what they do.”

Paradigm Complex Care Solutions achieves results for cases involving complex injuries through a broad and unique set of products and services. In addition to case management, our capabilities span nurse triage and telepresence, transitional return to work, physician advisory services, and complex pain management. Last year, the division expanded the scope of its advisory solutions through the acquisition of workers’ compensation assets from Best Doctors, building on the successful foundation established with case management leaders from ALARIS | Encore. The acquisition of Restore Rehabilitation adds 250 employees, who provide field coverage in 27 states and nationwide telephonic coverage. Restore Rehabilitation will be integrated into Complex Care Solutions and will operate under the Paradigm name.

“Restore Rehabilitation has built a strong network of case managers, focused on delivering evidence-based interventions to achieve safe recoveries efficiently and cost effectively,” said Pamela Anthony, president and CEO, Restore Rehabilitation. “Our team shares the same deep commitment to client and patient outcomes that Paradigm does, and I am looking forward to working with John Watts, Marijo Storment and the entire team at Paradigm to bring best-in-class services and support to more injured workers.”

Bailey Southwell & Co. served as the exclusive strategic and financial advisor to Restore Rehabilitation on the transaction.

About Paradigm
For almost 30 years, Paradigm has been the industry leader in solving complex health care challenges and improving lives. With the most connected and experienced team in health care, we define and deliver outcomes that exceed financial and health expectations for our clients, as well as for individuals and their families.

Paradigm delivers its solutions through three divisions: Catastrophic Care Management, Complex Care Solutions and Specialty Networks. The Paradigm divisions are built on expertise from five best-in-class businesses: Paradigm Outcomes, The ALARIS Group, Encore Unlimited, ForeSight Medical and Adva-Net. Founded in 1991, Paradigm is headquartered in Walnut Creek, California with offices across the U.S. For more information, please visit www.paradigmcorp.com.

Source: Paradigm

Series D funding will accelerate product roadmap and global expansion of affordable additive manufacturing

Watertown, MA – Markforged, a leading manufacturer of industrial 3D printers, today announced that it has closed an $82 million Series D round of funding led by Summit Partners with participation from existing strategic and financial partners, including Matrix Partners; M12, Microsoft’s Venture Fund; Next47; and Porsche SE. Markforged will use the additional capital to help accelerate its product roadmap, including the introduction of mass production printers and new materials. The capital will also be used to enhance the company’s global expansion plans, strengthen its massive foothold among global manufacturers, and ultimately help to reshape the $12 trillion manufacturing industry.

“Markforged set out to change the pace of human innovation by enabling engineers, inventors and manufacturers to print industrial-grade parts at a fraction of the time and cost of traditional methods,” said Greg Mark, CEO and co-founder of Markforged. “We’re very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”

The global manufacturing industry sits on the cusp of its fourth industrial revolution. Additive Manufacturing – a process that combines 3D printers, cloud-based software and newly-available materials – is set to play a meaningful role in powering this revolution, driving measurable cost reductions and reshaping traditional manufacturing processes into a more efficient digital production line.

By enabling the printing of high-strength parts at an affordable price, the founding of Markforged in 2013 helped mark a turning point in additive manufacturing. Before Markforged, businesses were forced to choose between million dollar 3D printing systems; less expensive printers capable only of producing weak plastic parts; or the massive complexities and costs of traditional processes, often just to produce a single part. For the first time in the history of manufacturing, it is more economical to print numerous metal or carbon fiber parts than to produce those parts through legacy means.

“We have been actively monitoring the additive manufacturing market for the last decade and are excited to partner with the Markforged team,” said Michael Medici, a Managing Director at Summit Partners who has joined the company’s Board of Directors. “Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs. Greg and his team are focused on continued product innovation, and we believe the best is yet to come for Markforged and its customers.”

“Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs."

Prior to this round, Deloitte named Markforged the 10th fastest growing technology company in North America, while Forbes named the company to its Next Billion Dollar Startup list. The company has amassed a large installed base among leading manufacturers and other types of businesses that benefit from additive capabilities. Markforged shipped more than 2,500 industrial printers in 2018 alone, making it one of the largest additive manufacturing companies in the industry. Markforged serves customers in more than 50 countries, and has filed for 133 patents with 38 already issued.

About Markforged
Markforged transforms manufacturing with the most affordable 3D printers capable of producing parts tough enough for the factory floor. Engineers, designers, and manufacturing professionals all over the world rely on Markforged metal and composite printers for tooling, fixtures, functional prototyping, and high-value end-use production. Founded in 2013 and based in Watertown, MA, Markforged has over 250 employees globally, with $137 million in both strategic and venture capital. To learn more about Markforged, please visit www.markforged.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology and software companies financed by Summit Partners include Acacia, Avast, FLEETCOR, HelpSystems, Infor, Mi9 Retail, OnRobot, Perforce Software, RELEX Solutions, Smartsheet, Trintech and Uber. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Kira Wampler sets sights on helping fast growing consumer health information site expand its market leadership

NEW YORK -- Healthline Media, Inc. announced today that it has added a new member to its board of directors with a track record of creating blockbuster brands: Kira Wampler. She joins Healthline Chief Executive Officer David Kopp, Summit Partners directors Dr. Craig D. Frances, Peter Rottier and Pete Francis, and independent director Mari Baker, who joined in May 2018. Healthline is one of the fastest growing media properties in the health information category.

"Kira adds valuable dimension to our board with her strong consumer background and her deep brand-building and product experience," said David Kopp, chief executive officer of Healthline Media, Inc. "Our two newest board members have brought both consumer marketing and product experience with the holistic operating experience of a CEO, which has strengthened our quality-driven, profitable business and will enable us to help more people live stronger, healthier lives."

Wampler recently completed the sale of Art.com to Walmart, after leading the company for two years as its CEO. She has held chief marketing officer positions at the ride-sharing platform Lyft and at Trulia, an online marketplace for home buyers, sellers, renters and real estate professionals. At Lyft she was known for positioning the brand as a leader in the sharing economy with much success as the chief architect of brand strategy, consumer engagement, as well as the leader behind the launch of their first-ever national marketing campaign. She brings deep expertise in product experience, marketing and brand strategy to the Healthline board.

"Healthline Media continues to distinguish itself with outstanding medically reviewed content and excellent management," added board member Dr. Frances, Managing Director of Summit Partners. "The appointments of Kira and Mari support its fast-paced growth, ability to serve its customers and continue its market leadership."

The Healthline property, with a total of 77.1 million unique visitors in January 2019, is one of the top 50 digital media properties in the US, according to media measurement firm Comscore⁽¹⁾.

Healthline worked with Athena Alliance, an organization dedicated to accelerating gender diversity in the boardroom and their Executive Director Coco Brown, to bring in directors with proven operating prowess, category and functional expertise and a passion for Healthline's vision of a stronger, healthier world.

About Healthline Media, Inc.
As one of the fastest growing media properties in the health information category among publishers with audiences of 10 million unique visitors or more – with 77.1 million monthly visitors in the U.S.⁽²⁾ – Healthline's mission is to be our users' most trusted ally in their pursuit of health and well-being. Healthline provides socially inspired, medically reviewed and data-driven content to help us all live stronger, healthier lives. Healthline's flagship website Healthline.com takes a whole-person approach to health and wellness information to support the modern health consumer.

For more information visit https://www.healthline.com/.

(1) Source: Comscore Media Metrix Multi-Platform, Total Unique Visitors, Total Digital Population, Top 100 Properties, January 2019, U.S.

(2) Source: Comscore Media Metrix Multi-Platform, Percent Change, Total Unique Visitors, Total Digital Population, Health-Information Category, Jan. 2018 vs. Jan. 2019, U.S.

Source: PR Newswire

FORT WASHINGTON, PA – Patriot Growth Insurance Services, LLC (“Patriot”), a national retail insurance agency, today announced that Amber Clouse has joined the company as Vice President of Human Resources. Amber brings nearly 20 years of human resources experience to Patriot, having spent most of her career managing high performance teams in the professional services sector. The addition reinforces Patriot’s growth-oriented model and further supports the company’s national expansion.

Most recently, Amber served as Director of Human Resources at Mazars USA LLP, a leading accounting, tax and consulting firm. In this role, Amber was responsible for the overall human resources strategy of the company’s Pennsylvania, Chicago and Mid-Atlantic locations, as well as the firm’s national Consulting Service Line. During her time at Mazars, Amber oversaw all aspects of the employee lifecycle from onboarding to alumni management, and implemented several culture initiatives that resulted in higher employee engagement and satisfaction. As a member of Mazars’ mergers and acquisitions team, Amber focused on understanding the business model and culture of acquired companies to determine the best integration plan to achieve goals and enhance synergies. She designed and implemented a customized people strategy from due diligence through integration with the goal of facilitating a thoughtful transition for employees.

“Patriot’s growth-focused insurance platform fosters a unique culture where collaboration is at the core of every business decision. I’m thrilled to join the Patriot team during a period of impressive growth, and I look forward to developing an innovative HR strategy that will help to fuel the continued expansion of the Patriot platform,” said Clouse.

As Vice President of Human Resources at Patriot, Amber is responsible for building and implementing people strategies and programs that support the company’s ambitious growth while preserving and enhancing its core culture. As a seasoned human resources executive with years of organizational leadership experience, Amber is well-positioned to accelerate the growth and development of Patriot’s culture through the acquisition and retention of top industry talent.

"Anyone with capital can buy insurance agencies," said Matt Gardner, Founder and CEO of Patriot. "In the long run, we believe the winners will be those companies that invest in their people and design thoughtful strategies for their continued growth and development. Amber gets the connection between engaged employees and delighted customers. She has spent her impressive career designing talent acquisition and career management strategies, innovative compensation and benefit plans, and overall human capital management strategies that make firms an employer of choice. We are thrilled that she has brought her considerable talents to Patriot."

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

CARY, N.C. – MercuryGate International, Inc., a leader in Transportation Management System (TMS) solutions, announced today the appointment of Léo Apotheker as the first independent member of the MercuryGate board of directors since the company was acquired by Summit Partners in August of 2018.

Mr. Apotheker spent more than 20 years at German software maker SAP and served as the company’s Chief Executive Officer from 2007 through 2010. From 2010 to 2011, he served as the CEO and President of Hewlett-Packard Inc. Currently, Mr. Apotheker is the independent Lead Director of the Board of Schneider Electric SE, a French corporation listed on the Euro Stoxx 50 and Chairman of the board of Signavio GmbH, a leading provider for process and decision management software.

“We are super excited to welcome Léo to the board,” said Joe Juliano, President and CEO of MercuryGate International. “His extensive enterprise software and international growth experience will be invaluable to us as we continue to rapidly grow our business. Léo shares our passion for TMS and understands how to grow internationally. He will be a great mentor to the MercuryGate senior leadership team.”

In August of 2018, MercuryGate was acquired by global growth equity investor Summit Partners to support the company’s next phase of growth. Mr. Apotheker will help MercuryGate to refine its strategy, build strong alliance partnerships, and help secure strategic accounts around the world.

“MercuryGate has an impressive track record of industry leadership and growth already,” commented Léo Apotheker. “I believe the company has the potential to expand their footprint into new markets leveraging their TMS domain leadership. I am pleased to have the opportunity to help Joe and his team in achieving that goal.”

Mr. Apotheker is the first person joining MercuryGate as an independent board member. MercuryGate expects to further fill out its board with additional, strategic expertise in the TMS and software market.

Find out why MercuryGate has set the industry standard for the most adaptable, comprehensive transportation solutions suite in the industry at www.mercurygate.com or on Twitter at MercuryGate.

About MercuryGate International
MercuryGate provides powerful transportation management solutions proven to be a competitive advantage for today’s most successful shippers, 3PLs, freight forwarders, brokers, and carriers. MercuryGate’s solutions are unique in their native support of all modes of transportation on a single platform including Parcel, LTL, Truckload, Air, Ocean, Rail, and Intermodal. Through the continued release of innovative, results-driven technology and a commitment to making customers successful, MercuryGate delivers exceptional value for TMS users through improved productivity and operational efficiency. MercuryGate offers business intelligence to improve transportation processes, increase customer satisfaction, and reduce costs with its adaptable, comprehensive transportation solutions suite.

Source: MercuryGate

BOSTON, MA; MENLO PARK, CA – Summit Partners, a global alternative investment firm, today announced the first and final closing of its latest flagship U.S. growth equity fund, Summit Partners Growth Equity Fund X. The oversubscribed fund, which was launched in the fourth quarter of 2018, closed at its hard cap with total commitments of $4.9 billion. The general partner has committed $400 million of this total and will be the single largest investor in the fund.

“We are deeply grateful for the longstanding trust and support of our limited partners,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “With our latest U.S. growth equity fund, our strategy remains focused on serving as the partner of choice for best-in-class growth companies identified through our unique idea generation process and deep sector expertise. We intend to continue serving founders and executives teams with our industry experience and our platform of value enhancement services built specifically to support the needs of growth companies.”

Summit Partners Growth Equity Fund X will target minority and majority investments of $75 to $300 million in category-leading growth companies, pursuing the growth equity strategy the firm pioneered in 1984. Summit seeks to partner with exceptional entrepreneurs and management teams and deliver post-investment support to accelerate growth and enhance value.

Summit’s global team of more than 100 investment professionals works collaboratively and cohesively across offices in the U.S. and Europe to partner with growth companies in key industry sectors including technology, healthcare, financial technology and services, consumer products and industrial technology. The Summit team provides active board-level support, as well as specialized in-house resources dedicated to serving the needs of growth companies. Summit’s Peak Performance Group, Capital Markets Team and Talent & Recruiting Team offer on-demand services to Summit’s portfolio companies to support and accelerate their growth initiatives.

With Growth Equity Fund X, Summit is currently managing more than $19 billion in capital across its growth equity, fixed income and public equity strategies. Since its inception in 1984, Summit Partners has raised more than $27 billion.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

LONDON, UK – Astorg, a leading European private equity firm, has signed an agreement to acquire a minority shareholding in Acturis Group, a leading supplier of insurance software. Under the terms of the transaction, existing investor Summit Partners will exit its position. Acturis employees will continue to own the majority of the company.

The Acturis Group was founded in 2001 and today comprises some 700 colleagues across five countries and four divisions. The four divisions include: Acturis SaaS, a leading multi-tenant SaaS platform for the general insurance industry; Acturis Deutschland, the market-leading broker software platform and comparison engine in the German broker market; ICE InsureTech, a cutting-edge platform for forward-thinking insurers, MGAs and claims managers; and NIS, the leading technology platform in the travel insurance, assistance and benefits market. Astorg will support Acturis’ future organic growth and acquisition growth opportunities in the insurance software market.

Theo Duchen, Co-CEO and co-founder of Acturis says: “We are very proud of what we have achieved over the last 18 years since our founding, and we are all excited by what the future now holds. Looking ahead there is a great deal of opportunity for Acturis to grow as the insurance market becomes more digital and connected.”

David McDonald, Co-CEO and co-founder of Acturis adds: “We will continue to focus on the values which are dear to us: Integrity, Innovation and Client Service. Astorg is a partner who shares these values and brings a wealth of experience to the table. We are excited to partner with them for the journey ahead.”

Benoit Ficheur, Partner at Astorg says: “Acturis is an outstanding business of rare quality that we have admired for a long time. We are extremely excited to partner with the Acturis team and look forward to helping the team expand on their already strong market positions by entering new markets and segments of the industry. This investment highlights our commitment to backing innovative software leaders.”

Scott Collins and Han Sikkens, Managing Directors at Summit Partners add: “It has been a great privilege to have worked in partnership with the Acturis team during a period of impressive growth. Since our investment in 2010, the company has expanded its international presence and been recognised as a leader in the insurance technology sector. We look forward to seeing Acturis build upon this strength in the future.”

The transaction is subject to the satisfaction of certain regulatory closing conditions. Acturis was advised by Jefferies International (Financial) and Dickson Minto (Legal). Astorg was advised by Paul Hastings (Legal). Summit was advised by Kirkland & Ellis (Legal).

About Acturis
Acturis is the leading, award winning Software as a Service provider to the insurance industry. The Acturis SaaS Platform is an administration, distribution and underwriting platform used by insurance brokers and underwriters in the general insurance market, supporting both personal and commercial insurance. The company has recently won the Insurance Times Business Partner of the year for 2018 award, in addition to a host of industry and national awards. In 2016 Acturis won the Tech Growth Company of the Year at the prestigious UK Tech Awards.

The Acturis Group also includes NIS, Acturis Deutschland and ICE InsureTech. NIS is a leading provider of software solutions to the travel insurance, assistance and health insurance markets with customers in more than 40 countries. Acturis Deutschland is the leading provider of insurance price and terms information to the German insurance market and the largest provider of broker administration and trading software in Germany. ICE InsureTech is a cutting edge software platform for insurers, managing general agents and claims administrators having won several awards for its leading edge technology.

www.acturis.com

About Astorg
Astorg is an independent private equity firm with over €8 billion of assets under management. Astorg seeks to partner with entrepreneurial management teams to acquire global companies and create value through the provision of strategic guidance, experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Though not specialized, Astorg has gathered valuable industry expertise in software, healthcare, business-to-business professional services and technology-based industrial companies. Astorg has offices in London, Paris, Luxembourg, Frankfurt and Milan.

For further information about Astorg: www.astorg.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Summit has backed numerous financial technology companies across Europe and North America. . Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Source: Acturis

LEHI, Utah -- Podium, the leading interaction management platform for local businesses, has been named to Fast Company's prestigious annual list of the World's Most Innovative Companies for 2019.

The list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today's volatile world. Half of the companies on this year's MIC 50 list are appearing for the first time.

"The economy has grown and evolved in a way that requires local businesses to modernize the way they interact," said Eric Rea, CEO of Podium. "This award is confirmation that Podium is providing real innovation to modernize these businesses that we work with everyday, and we're excited to share what else we have in store for 2019 in the coming months."

Founded in 2014 and now working with 30,000+ businesses to create over 4 million customer interactions a month, Podium has quickly become one of the fastest-growing SaaS companies in the U.S. As the leading interaction platform helping local businesses cross the offline-to-online chasm, one in seven U.S. cell phone owners have connected with a local business via its platform.

The award is the latest in a series of recognitions and milestones for Podium over the last year. In the fall, the company was named to Forbes' Next Billion-Dollar Startups List for 2018, a list of the 25 companies the media giant predicts have the best chance of reaching $1 billion valuation or more in the near future. Podium was also named to the Forbes 2018 Cloud 100. In addition, Podium ranked No. 9 on the 2018 Deloitte Technology Fast 500, as well as No. 13 on the Inc. 5000—both honors the company got with its three-year growth margin of over 13,000 percent. In August, Podium cut the ribbon on its new 125,000 square foot headquarters in Lehi to house the company's 430 existing employees, as well as the 375 more it plans to hire through the end of 2019.

This year, Fast Company's editors and writers sought out groundbreaking businesses across 35 industries and every region. They also judged nominations received through their application process.

The World's Most Innovative Companies is Fast Company's signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.

"Established players are showing the same kind of nimbleness that we've generally associated with startups," said Fast Company deputy editor David Lidsky, who oversaw the issue with senior editor Amy Farley.

Fast Company's Most Innovative Companies issue (March-April 2019) is now available online at https://www.fastcompany.com/MIC, as well as in app form via iTunes and on newsstands beginning February 27th. The hashtag is #fcmostinnovative.

About Podium
Podium is an interaction management platform that enables companies with a a local presence to conveniently connect with their customers at critical touchpoints to help them strengthen their business. By conveniently facilitating millions of customer interactions, such as driving customer-generated online reviews and providing improved customer messaging tools, Podium serves more than 30,000 local businesses to create over 4 million interactions with their customers a month. Headquartered in Lehi, Utah, and founded in 2014, Podium is currently backed by IVP, Accel, Summit Partners, GV (formerly Google Ventures), and Y Combinator. To learn more, visit www.podium.com.

About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for "Magazine Of The Year," Adweek's Hot List for "Hottest Business Publication," and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.

Source: Podium

PLANO, TX – U.S. Renal Care, Inc., a leading provider of dialysis services for patients suffering from end stage renal disease, today announced that it has entered into a definitive agreement to be acquired by a private investor group led by Chris Brengard and the U.S. Renal management team, along with Bain Capital Private Equity, Summit Partners, Revelstoke Capital Partners, and Mark Caputo (collectively the “Investor Group”). U.S. Renal Care will continue to operate under its current management team, who will remain significant investors in the company. Financial terms of the private transaction were not disclosed.

Founded in 2000 by Chris Brengard and an experienced team of healthcare executives, U.S. Renal Care partners with nephrologists and hospitals to develop, acquire, and operate outpatient treatment centers for patients suffering from kidney failure, also known as end stage renal disease. The company provides patients with their choice of a full range of quality in-center and at-home dialysis. Today, U.S. Renal Care serves approximately 25,000 patients in 335 dialysis facilities across 32 states and the Territory of Guam.

“We are pleased to be partnering with an Investor Group that shares our commitment to serving patients and continuing to be the highest care provider by enhancing the quality of life for people living with chronic renal disease,” said Chris Brengard, Chief Executive Officer of U.S. Renal Care. “With additional support and resources, we and our physician partners look forward to embarking on our next phase of growth while continuing to deliver excellent patient outcomes and the best service available in our communities.”

“We have been impressed with U.S. Renal Care’s focus on strong physician partnerships that allows the company to deliver high-quality care for patients,” said Chris Gordon, a Managing Director at Bain Capital Private Equity. “We look forward to supporting the company’s experienced management team and our partner physicians in continued growth, while remaining focused on the company’s coordinated and compassionate approach to patient care,” said Devin O’Reilly, a Managing Director at Bain Capital Private Equity.

“We have enjoyed a productive partnership with U.S. Renal Care, working closely with Chris Brengard and the management team in supporting their efforts to provide expanded access and care to patients,” said John Baumer, a Senior Partner at Leonard Green & Partners, a current investor in U.S. Renal Care alongside Frazier Healthcare Partners, New Enterprise Associates, Inc., and Cressey & Company. “We are thankful to have had the opportunity to grow the business over the past seven years and we wish Chris and the new ownership group continued success.”

The transaction is subject to customary closing conditions, including requisite regulatory approvals.

Goldman Sachs and Barclays are serving as financial advisors, and Latham & Watkins is serving as legal counsel to U.S. Renal Care. Ropes & Gray is serving as legal counsel, and PwC is acting as accounting advisor, to the Investor Group. Weil, Gotshal & Manges are serving as legal counsel to the management team.

About U.S. Renal Care, Inc.
Founded in Jonesboro, Arkansas, in 2000 by an experienced team of healthcare executives, U.S. Renal Care, Inc. works in partnership with nephrologists to develop, acquire, and operate outpatient treatment centers for persons suffering from chronic kidney failure, also known as End Stage Renal Disease (ESRD). The company provides patients with their choice of a full range of quality in-center and at-home hemodialysis, as well as at-home peritoneal dialysis services. Headquartered in Plano, Texas, U.S. Renal Care serves approximately 25,000 patients in 335 dialysis facilities across 32 states and the Territory of Guam. For more information on U.S. Renal Care, Inc., please visit www.usrenalcare.com.

Source: U.S. Renal Care

FORT WASHINGTON, PA – Patriot Growth Insurance Services, LLC ("Patriot") a national retail insurance agency, today announced that Turner Insurance & Bonding Company ("Turner") has joined the Patriot platform. The addition of Turner deepens Patriot’s property and casualty insurance capabilities and further supports Patriot’s national expansion.

Founded in 1934 and based in Alabama, Turner is well known for its long history of servicing the construction industry. Turner provides surety, insurance, and risk management products to a highly diverse construction client base. Led by CEO David Durden, Turner has extensive knowledge and experience throughout the United States and abroad in various construction sectors including infrastructure, governmental, and institutional.

“We were not actively pursuing a change to our business model when we were first introduced to Patriot,” said David Durden, CEO of Turner. “However, as we explored the opportunity, we were deeply impressed with Patriot’s differentiated approach – an approach predicated exclusively on building a great company with committed partners. That’s the environment we wanted for our employees and our clients.”

This partnership comes just weeks after Patriot announced the formation of its growth-focused national insurance services platform in collaboration with 17 independent insurance agencies and with TRUE Network Advisors. Patriot is already a top-60 U.S. privately held insurance services firm.

“Agency owners today are inundated with offers to buy their companies, often before the parties even get to know one another,” said Matt Gardner, Founder and CEO of Patriot. “David Durden took the time to assess Turner’s strategic and cultural fit with Patriot, and made the decision to pursue this partnership in the interest of Turner’s employees and clients. We are thrilled that they have joined our rapidly growing team.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by growth equity investor Summit Partners. For more information, please visit www.patriotgis.com.

Source: Patriot Growth Insurance Services

Helsinki, Finland; Menlo Park, California – RELEX Solutions, a leading provider of unified retail planning solutions, today announced that TCV has made a $200 million minority investment in the company. TCV is one of the largest providers of capital to growth-stage private and public companies in the technology industry and has backed industry-leading companies, including Airbnb, Facebook, Netflix, Splunk, Spotify, WorldRemit, and Zillow.

RELEX provides an end-to-end retail planning solution enabling companies to improve their competitiveness through accurate forecasting and replenishment, localized assortments, profitable use of space and optimized workforce planning. RELEX has consistently achieved 50 percent year on year growth and attracted leading brands across the globe including Coop Denmark, Franprix, MediaMarkt, Morrisons, PartyCity, Rossmann, and WHSmith.

RELEX will use the funding to continue to fuel its successful growth. The company’s three founders, Mikko Kärkkäinen, Johanna Småros and Michael Falck, see the additional funding as a means of fulfilling their vision of changing the world of retail planning. The founders will stay in their senior management roles, remain significant shareholders and will continue to set the strategy and direction for the Company. RELEX’s existing investor Summit Partners will retain an equity stake in the business and will continue to hold a seat on the RELEX board of directors.

“The development of retail and supply chain planning has been held back by siloed organizations and limitations in how technologies integrate,” comments RELEX’s CEO Mikko Kärkkäinen. “Our vision is to change how the field works by driving a more responsive unified planning process. We are already off to a good start — now we will increase our speed by accelerating our product development ambitions, hiring more tech talent and investing further into the development of our organization as well as further expanding our retail-specific machine learning and AI capabilities that complement our core data processing platform.”

TCV’s General Partner John Doran says: “We seek to partner with businesses and management teams that are poised to grow to dominate global markets in their sectors. We are impressed by RELEX’s modern, highly flexible and cloud-based software, as well as its exceptional data processing performance. RELEX has very high customer satisfaction with customers benefiting from inventory and waste reduction, improved stock availability, more efficient goods handling and less time spent on ordering. We are aligned with the founders’ vision for RELEX and look forward to supporting the management team.”

“With a robust product and a keen focus on delivering ROI to customers, RELEX has built a significant customer base across numerous retail segments and geographies. We are thrilled to continue our partnership with RELEX and delighted to welcome TCV,” adds Han Sikkens, a Managing Director with Summit Partners.

For additional perspective on RELEX, please visit: ”RELEX: Vision and Innovation in the Retail Supply Chain”

About RELEX
RELEX Solutions is dedicated to helping retail businesses improve their competitiveness through localized assortments, profitable use of retail space, accurate forecasting and replenishment, and optimized workforce planning. Our SaaS solutions deliver quick return on investment and can be used independently or jointly for unified retail planning, enabling cross-functional optimization of retail’s core processes: merchandising, supply chain and store operations. RELEX Solutions is trusted by leading brands including WHSmith, Morrisons, AO.com, Coop Denmark and Rossmann, and has offices across North America and Europe. For more information go to: www.relexsolutions.com.

About TCV
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has invested over $10 billion in leading technology companies and has helped guide CEOs through more than 115 IPOs and strategic acquisitions. TCV’s investments include Airbnb, Altiris, AxiomSL, Believe, Dollar Shave Club, EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, HomeAway, LinkedIn, Netflix, OSIsoft, Rent the Runway, Sitecore, Splunk, Sportradar, Spotify, TourRadar, Varsity Tutors, WorldRemit, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit h https://www.tcv.com/.

Source: RELEX

Today’s retail landscape is incredibly complex and increasingly competitive. Retailers and suppliers face a massive challenge of managing increasing numbers of physical SKUs in multiple locations with differing seasonal sales patterns, physical sizes, profitability and roles in assortment – all while ecommerce challengers continue to take market share. We believe an optimized supply chain can make all the difference between success and failure.

At Summit, we’ve been watching the evolution of retail, supply chain and related technologies for more than three decades. When we first met RELEX – a pioneer in unified online and offline retail planning – we quickly recognized three key qualities that positioned the company to effectively and successfully address retailers’ pain points:

Talented leadership with deep subject matter expertise
RELEX founders Mikko Kärkkäinen, Johanna Småros and Michael Falck met at the Helsinki University of Technology where their research focused on SCM theory and included groundbreaking work in planning and forecasting collaboration and supply chain efficacy. In 2005, the three founded RELEX with a vision to offer a more integrated, automated approach to managing retail supply chains. The team is passionate about putting this extensive background to use – and serving as a true partner in solving retailers’ most complex challenges.

Differentiated technology that delivers meaningful customer ROI
At the time of Summit’s 2015 investment, RELEX was one of the very few disruptive vendors leveraging leading-edge technologies to quickly process huge volumes of data to drive better real-time outcomes, enabling retailers to plan better, sell more and waste less. RELEX has continued to innovate, expanding its machine learning and AI capabilities to complement the core data processing platform. RELEX has consistently maintained a focus on delivering customer value. RELEX solutions are cloud-based and easy to implement, helping customers to achieve a clear and demonstrable ROI very quickly.

Customer-centric, dynamic culture
Helsinki, Finland boasts a vibrant start-up ecosystem and a “can-do” culture where entrepreneurs share a mutual respect for each other and their customers. Many of these attributes helped form the foundation for RELEX’s customer-centric culture. While RELEX has grown to more than 500 employees worldwide, the team has remained true to a set of articulated core values that treat customers and colleagues as friends and focuses the entire organization on providing measurable value.

RELEX’s expertise, innovative technology and customer-centric culture have made the company a trusted partner to retailers, wholesalers and suppliers worldwide. We were proud to be RELEX’s first institutional investor in 2015, and we have enjoyed working closely with the entire team during a period of impressive growth and expansion. RELEX now operates on the ground in the U.S., U.K., Germany, Norway, Sweden, France, Spain, Denmark and Italy, and has established channel partnerships in Asia and South Africa.

Today, RELEX announced a significant new milestone: $200 million in new financing that will continue to fuel the company’s mission of helping retailers achieve a more accurate and responsive unified planning process. We congratulate Mikko, Johanna, Michael and the entire RELEX team on this news, and we are thrilled to continue our partnership through the next stage of growth.

This article originally appeared on LinkedIn

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in healthcare & life sciences, technology and other growth industries. For more information, including a complete list of companies, visit www.summitpartners.com

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_{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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.}

supply chain

Club Champion – one of the largest premium custom golf club fitting retailers in the world – provides the latest example of Summit’s experience in scaling specialty consumer/retail businesses. Summit invested in Club Champion in 2017, and since then, the company has nearly tripled its store count across the United States, using highly trained fitters and the latest in ball flight measuring technology to deliver a Tour-quality fitting experience.

Today, Club Champion announced its next milestone: the acquisition by Levine Leichtman Capital Partners. Summit will continue to hold an equity stake in the business, and we are thrilled to continue our partnership with the Club Champion team. We look forward to the company’s next phase of growth.

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in healthcare & life sciences, technology and other growth industries. For more information, including a complete list of companies, visit www.summitpartners.com.

Acquisition Expands FLIR’s Unmanned Systems Solutions with Advanced Airframes, Sensors, and Flight Management Software for Government and Defense Customers

WILSONVILLE, Ore. -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has acquired Aeryon Labs Inc., a leading developer of high-performance unmanned aerial systems (UAS) for the global military, public safety, and critical infrastructure markets for $200 million. Aeryon’s vertical takeoff and landing quad-copter airframes integrate multiple sensors, including FLIR thermal technology, to provide users with immediate high-resolution intelligence, surveillance, and reconnaissance (ISR) capability.

Based in Waterloo, Canada, and with offices in Denver and Salt Lake City, Aeryon Labs was founded in 2007 and is a leading designer and manufacturer of mission-focused Group 1 UAS solutions built around aircraft under 20 pounds. Aeryon’s family of UAS are deployed by 20 militaries in over 30 countries around the world, including the United States Department of Defense. Aeryon develops UAS solutions that includes hardware, embedded software, ground control stations, sensors, software for flight operations, as well as supporting services for its global customers.

“The acquisition of Aeryon Labs reinforces our long-term strategy to move beyond providing sensors to the development of complete solutions that save lives and livelihoods,” said Jim Cannon, President and CEO of FLIR Systems. “This acquisition, coupled with our acquisition of Prox Dynamics in 2016, greatly increases our unmanned systems solutions capabilities, expanding beyond nano-UAS into Group 1 UAS solutions for military. We intend to continue to invest and build this area of our business and broaden our capabilities as we view unmanned and autonomous solutions to be a significant opportunity for organic growth in the coming years.”

Rugged, reliable, and field-proven, Aeryon’s SkyRanger UAS are rucksack portable and can be deployed in minutes by a single operator. SkyRanger UAS are renowned for operating in demanding environments and inclement weather, including at high altitudes, gusting winds, and rain and snow. The latest additions to the SkyRanger family of aircraft establish a new benchmark for small UAS performance and reliability. Now with a modular and open architecture, end users and third party developers can create tightly integrated payloads and software systems for the SkyRanger platform, enabling rapid solution development, onboard artificial intelligence, and autonomous operations.

“We’re thrilled to join the FLIR family and to have a large, growth-oriented technology company as our new home,” said Dave Kroetsch, Co-founder and CTO of Aeryon Labs. “As drone technology and its markets evolve, customers are seeking UAS as just one component of a broader solution. While Aeryon has been evolving in that direction for the past few years, being part of FLIR Systems brings a path to include our hardware and software technologies in much bigger solutions than would have ever been possible on our own.”

Aeryon Labs is now part of the FLIR Government and Defense Business Unit’s Unmanned Systems and Integrated Solutions division. The transaction is expected to be $0.02 dilutive to FLIR Systems’ 2019 earnings due to anticipated product development investments, and accretive thereafter. FLIR Systems’ management will discuss this strategic acquisition during its 2018 Q4 earnings call scheduled for February 13 at 9 a.m. Eastern Standard Time.

About FLIR Systems
Founded in 1978 and headquartered in Wilsonville, Oregon, FLIR Systems is a world-leading maker of sensor systems that enhance perception and heighten awareness, helping to save lives, improve productivity, and protect the environment. Through its nearly 3,700 employees, FLIR Systems’ vision is to be “The World’s Sixth Sense” by leveraging thermal imaging and adjacent technologies to provide innovative, intelligent solutions for security and surveillance, environmental and condition monitoring, outdoor recreation, machine vision, navigation, and advanced threat detection. For more information, please visit www.flir.com and follow @flir.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may contain words such as “anticipates,” “estimates,” “expects,” “intends,” and “believes” and similar words and expressions and include the assumptions that underlie such statements. Such statements are based on current expectations, estimates, and projections based, in part, on potentially inaccurate assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors. Such forward-looking statements speak only as of the date on which they are made and FLIR Systems does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes made to this document by wire services or Internet service providers.

Source: FLIR Systems and Aeryon Labs

Summit Partners provides funding to fuel continued platform growth

FT. WASHINGTON, PA – Patriot Growth Insurance Services, LLC (“Patriot”) today announced the formation of a new national retail insurance agency in collaboration with 17 independent insurance agencies and TRUE Network Advisors (“TRUE”). With financial backing from growth equity investor Summit Partners, the newly formed Patriot platform offers a collaborative, growth-oriented model that allows partner agencies to operate autonomously while benefiting from the combined resources, strength and experience of a national organization.

Founded and led by CEO Matt Gardner, a 30-year insurance distribution industry veteran, Patriot selectively partners with forward-thinking employee benefits and property & casualty agencies seeking to expand their services as part of a larger network. With 21 offices in 7 states, Patriot is a top-60 U.S. privately held insurance agency that also ranks in the top-20 amongst privately held employee benefits agencies.

“We are building the company that I’ve always wanted to work for. Patriot is committed to partnering with like-minded entrepreneurs that share our vision of creating a world-class agency focused on operational excellence and a relentless pursuit of growth – both organically and through thoughtful, highly selective acquisitions,” said Matt Gardner, Founder and CEO of Patriot. “We’ve created an environment in which our partner agencies maintain meaningful ownership in the equity, culture and direction of the organization, and can leverage the Patriot platform to focus on delivering the highest quality service to their customers.”

In addition to Matt Gardner, Patriot’s national leadership team includes Senior Vice President of Mergers & Acquisitions Steve Carroll, who brings a unique blend of transactional and operational experience in the insurance industry.

Patriot’s founding partner firms include TRUE Network Advisors, one of the fastest-growing insurance agency membership organizations in the United States. Together with TRUE, Patriot offers current and future partners unique capabilities, solutions and strategic perspective focused on further accelerating growth.

Scott Smith, Founder and CEO of TRUE Network Advisors, will continue to lead TRUE as well as join the leadership team at Patriot. Scott added, “We are excited to partner with Matt and the entire Patriot team. Patriot’s mission presents a fantastic opportunity for TRUE as we look to expand our impact in the insurance and employee benefits markets. Our ability to help support the growth of independent agencies is now stronger than ever.” TRUE Network Advisors has grown to over 30 member agencies since its inception three years ago and is poised for continued success as part of the Patriot platform.

Patriot’s founding insurance agencies include:

• Advantage Benefit Solutions (Houston, TX)
• Alliance Insurance Group (Montgomery, AL)
• Arrow Benefits Group (Petaluma, CA)
• Benefits Alliance Insurance Services (5 agencies throughout CA and NV)
• BenefitsTexas (Dallas, TX)
• California Corporate Benefits Insurance Services (Poway, CA)
• Campbell Petrie Inc. (Livingston, NJ)
• Creative Group Benefits (Jackson, MS)
• Innovative Cost Management Services (San Jose, CA)
• Intrepid (Atlanta, GA)
• Intrepid California (Newport Beach, CA)
• Intrepid (Denver, CO)
• Maniaci Insurance Services (Rancho Palos Verdes, CA)

Patriot was formed with financial backing from Summit Partners, a global growth equity firm with extensive experience supporting acquisition-based growth businesses in the insurance and financial services sector. “We believe the Patriot platform offers a tremendous opportunity for agency owners seeking to accelerate their growth,” said Matt Hamilton, a Managing Director of Summit Partners. “Matt Gardner and his team bring decades of combined experience in the insurance sector, formulating a vision for a thoughtfully integrated, growth-focused national operation. We are excited to partner with Matt and look forward to the opportunity ahead.”

Patriot management was advised by Jamieson Corporate Finance. MarshBerry served as financial advisor to the founding agencies.

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot’s unique equity model creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. For more information, please visit www.patriotgis.com

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable insurance and financial services companies financed by Summit Partners include Acturis, Dorn Technology Group, Employee Benefit Plans, FLEETCOR, Fortegra Financial, Galtney Group, Invoice Cloud, Progressive Finance, SeaBright Insurance Holdings and Trewit. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Acquisition will also drive the creation of Smartsheet Accelerators for marketing workflows​

BELLEVUE, Wash., – Smartsheet (NYSE: SMAR), a leading cloud-based platform for work execution, today announced that it has acquired Seattle-based TernPro, Inc., makers of Slope, an application that makes it easy for teams to collaborate on and manage creative work. With the integration of Slope, Smartsheet will enable users to review, proof and comment on content in the core application, in addition to offering standalone solutions to solve complex marketing and creative workflows.

“The acquisition of Slope will strengthen our leadership position in the collaborative work management category by adding the ability to collaborate on everything from videos to documents directly in Smartsheet,” said Mark Mader, CEO of Smartsheet. “This is relevant to workflows in a wide range of use cases and industries, including marketing and creative work, and supports our vision to empower everyone to more effectively plan, track, automate, and report on work, regardless of technical skill level.”

Launched in 2016, Slope combines robust project management with capabilities like proofing, version control, and real-time collaboration, enabling people and organizations to increase efficiency, improve communication, and produce higher quality content. Slope has over 100 customers across marketing, finance, retail and other industries.

In the coming months, the integration of Slope technology will enhance the Smartsheet platform in a few key ways. Most notably, Slope’s intuitive content review and proofing functionality will let Smartsheet users provide feedback on images, videos, documents and other content, enabling a broad set of powerful use cases that drive collaboration and fit seamlessly into existing workflows.

Slope will also drive the creation of a set of Smartsheet Accelerators built specifically to solve mission critical marketing and creative development workflows. Accelerators are packaged solutions designed to help customers execute faster and be more successful with high-impact, repeatable use cases.

The Slope team, including co-founders Dan Bloom and Brian Boschè, have joined Smartsheet.

“We created Slope to solve the slow, inefficient process of planning creative projects, tracking progress, collecting feedback, and getting approvals from the right stakeholders,” said Bloom. “We realized in talking to Smartsheet that they are uniquely able to expose what we’ve built to more people, across more use cases, in more geographies around the world. We’re excited to get started.”

About Smartsheet
Smartsheet is a leading cloud-based platform for work execution, empowering organizations to plan, capture, track, automate, and report on work at scale, resulting in more efficient processes and better business outcomes. Smartsheet empowers collaboration, drives better decision making, and accelerates innovation for over 77,000 customers in 190 countries. Smartsheet complements existing enterprise investments by deeply integrating with applications from Microsoft, Google, Salesforce, Atlassian, and many others. Smartsheet has been recognized by 451 Research for exceptional technology innovation and positioned as a leader in the Forrester Wave™ evaluation of Collaborative Work Management Tools for the Enterprise.

Forward-Looking Statements
This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about Smartsheet’s acquisition of TernPro, Inc. and the expectations about integrating Slope into Smartsheet and its product portfolio, Smartsheet’s merger and acquisition strategy, growth and growth plans, anticipated expansion, expectations regarding possible or assumed business strategies, potential growth and innovation opportunities, new products, and potential market opportunities.

Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believes,” “continue,” “could,” “plans,” “potential,” “remain,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: realizing the benefit of acquisitions, our ability to achieve future growth and sustain our growth rate, our ability to attract and retain employees, our ability to attract and retain customers and increase sales to our customers, our ability to develop and release new products and services and to scale our platform, our ability to increase adoption of our platform through our self-service model, our ability to maintain and grow our relationships with strategic partners, the highly competitive and rapidly evolving market in which we participate, our ability to identify targets for, execute on or realize the benefits of potential acquisitions, and our international expansion strategies. Further information on risks that could cause actual results to differ materially from forecasted results is included in our filings with the SEC, including our Quarterly Report on Form 10-Q for the period ended October 31, 2018. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Source: Smartsheet

Rowley, Massachusetts and Meridian, Idaho – Harvey Performance Company (“Harvey Performance” or the “company”), a leading provider of specialized cutting tools for precision machining applications through industry leading brands Harvey Tool and Helical Solutions, today announced the acquisition of Micro 100. Based in Meridian, Idaho, Micro 100 is a leading innovator in turning tools, specializing in internal boring, grooving and threading tools and milling tools.

Micro 100’s position as a manufacturer of outstanding products in both the turning and milling categories makes it an ideal addition to the Harvey Performance portfolio of brands. Its products provide a strong complement to Harvey Tool’s miniature and specialty profile tooling and Helical Solutions’ high performance end mill selection. Because of this, the addition of Micro 100 significantly increases the company’s market opportunity.

“We are on a journey to assemble and build a world-class company made up of outstanding brands and product lines supported by incredible people,” said Pete Jenkins, CEO of Harvey Performance Company. “The addition of Micro 100 products to the Harvey Performance portfolio will help accelerate our ability to do just that. Micro 100 has a demonstrated dedication to quality products, excellent reputation and outstanding service – all traits that are consistent with the Harvey Performance way of doing business.”“The Harvey Tool and Helical Solutions Brands serve some of the most advanced and demanding end users in the industry,” said Jerry Gleisner, Senior Vice President of Sales for Harvey Performance Company. “Micro 100’s product line, particularly their strong focus in turning tooling, will allow us to offer additional capabilities and value to our distributors and end users.”

Moving forward, the Harvey Performance team will focus on scaling and growing each of the company’s three brands. “We will continue to manufacture Helical Solutions product in our Gorham, Maine facility and Micro 100 product in the Meridian, Idaho location,” said Brian McKahan, Vice President of Operations of the Harvey Performance Company. “We have plans for significant investment and growth across all of our brands.”

The acquisition of Micro 100 better positions Harvey Performance and its brands to compete and grow. “One thing that is a constant in our business is change, with regular consolidation amongst our competitors, our distributors and our end users,” said Jenkins. “We will continue to look to expand our product portfolio through acquisition. Scale matters, and we believe that – through thoughtful assembly of brands and products – we can enhance the end users’ productivity and increasingly earn their business.”

Harvey Performance Company is backed by global growth investor Summit Partners. Jay Pauley, Summit Partners Managing Director and member of the Harvey Performance board, reiterated the strategic importance of this acquisition. “Micro 100 is a growth business with products that complement the Harvey Performance suite extremely well. We are excited to welcome the Micro 100 team to the Harvey Performance Company Family.”

About Harvey Performance Company
Harvey Performance Company strives to offer unique and innovative products to solve industries’ most challenging machining requirements. Its distinct brands, Harvey Tool, Helical Solutions, and Micro 100, serve specialty needs and markets with a shared commitment to delivering high quality products and superior service. The brands offer a broad range of products and services that help support machinists, engineers, and CNC programmers while giving their shops a competitive advantage. Harvey Performance has a proud history of doing business the right way – offering fast friendly service, providing comprehensive product support, and treating customers, suppliers, and shareholders in a way that builds strategic, strong, and enduring relationships. For more information visit www.harveyperformance.com.

Source: Harvey Performance Company

Braintree, Massachusetts – Invoice Cloud, Inc. (“Invoice Cloud”), a leading Software as a Service (“SaaS”) provider of vertical software, billing, and payments solutions, today announced a strategic partnership with General Atlantic, a global growth equity firm. General Atlantic, which will become the majority shareholder, will invest in Invoice Cloud alongside existing shareholder Summit Partners and Invoice Cloud management to help fuel the company’s next stage of growth.

Founded in 2009, Invoice Cloud provides cloud-based customer engagement and electronic payment processing capabilities to more than 25,000 clients in the government, utilities, health & wellness, non-profit, and financial services sectors. Invoice Cloud’s leading vertically focused software solutions help clients save on administrative costs, improve customer engagement, and streamline the billing and collections processes.

“We are proud of what our team has accomplished to date and the significant growth we have experienced across a number of key verticals. We are thrilled to partner with General Atlantic in this next phase given their extensive experience in payments and software and their long track record of helping high-growth businesses achieve their long-term goals,” said Bob Bennett, Chief Executive Officer of Invoice Cloud. “Together with the continued support of Summit Partners, our new partnership will position Invoice Cloud to better serve our customers, employees, partners, and achieve even greater success.”

“It has been a pleasure to work alongside Bob and the entire Invoice Cloud team during a period of incredible expansion,” said Matt Hamilton, Managing Director at Summit Partners. “Since Summit’s initial investment, Invoice Cloud has consistently delivered on its mission to improve customer experience through innovative, self-service software. We look forward to continuing our partnership as they embark on this next phase of growth.”

“Invoice Cloud has proven itself as a clear leader in vertical payments and billing automation by providing an innovative product suite that helps its customers improve client engagement and automate business processes. The company has experienced substantial growth to date and is poised to achieve significant scale by leveraging its strong team and world-class technology,” said Jon Korngold, Managing Director and Global Head of General Atlantic's Financial Services Sector.

“We have been extraordinarily impressed with the company’s vision, customer satisfaction, and market opportunity ahead,” added Paul Stamas, Managing Director at General Atlantic. “We are very pleased to partner with Invoice Cloud and look forward to working with Bob and the entire team to help drive continued rapid growth both organically and inorganically.”

Drawing from 38 years of experience investing in over 300 global growth companies, General Atlantic partners with entrepreneurs and management teams who are building leading, high-growth businesses. The firm has approximately $28 billion assets under management as of June 30, 2018. General Atlantic focuses on investments across four sectors, including Consumer, Financial Services, Healthcare, and Technology, with support from the firm’s global team of experts.

General Atlantic has deep expertise in the software and payments sector, with investments including Adyen, Benevity, BillDesk, Clip, Insurity, Klarna, Network International, and Slack.

Raymond James & Associates served as financial advisor to Invoice Cloud on the transaction.

About Invoice Cloud
Founded in 2009, Invoice Cloud™ improves customer and client experiences through industry focused innovation in software, billing, collections, and integrated e-payments at over 25,000 clients in all 50 of the United States of America. Invoice Cloud owns and operates a number of brands including Invoice Cloud, SimplePractice, Donor Drive, HealthPay24, and IVR Technology Group. www.invoicecloud.net.

About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic 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 build exceptional businesses worldwide. General Atlantic has more than 130 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. 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 $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable financial technology and services companies financed by Summit Partners include 360T Group, Acturis, Clearwater Analytics, FLEETCOR Technologies, Flow Traders, Focus Financial Partners, Ogone, optionsXpress and Progressive Finance. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

All eyes were on Apple as the company unveiled a new lineup of products at its October 2018 launch event at the Brooklyn Academy of Music. While introducing the new Mac mini, Tom Boger, Head of Mac Product Marketing, recognized MacStadium as "the very definition of mission critical." MacStadium, a leading provider of enterprise-class Apple Mac infrastructure, operates nearly 8,000 Mac minis running 24x7 in data centers around the world. Read more about the secret world of Mac mini and MacStadium's unique capabilities at apple.com.

Investment supports Syncron’s vision to empower manufacturers to shift from reactive, break-fix after-sales service to a new paradigm focused on maximized product uptime

STOCKHOLM and ATLANTA – Syncron™, a provider of cloud-based after-sales service solutions focused on empowering the world’s leading manufacturers to maximize product uptime and deliver exceptional customer experiences, today announced a $67 million minority investment from global growth equity firm Summit Partners. The partnership with Summit Partners will support Syncron’s continued development of its category-leading enterprise SaaS solutions and further expansion of its global operations.

Servitization – where organizations transition from selling one-off products to selling the output or value that products deliver – is leading manufacturers to evolve their after-sales service operations from reactive, break-fix models focused on repair execution, to a new paradigm focused on dynamic repair prevention and maximizing product uptime.

Syncron offers a fully integrated SaaS platform to optimize the performance of the after-sales service supply chain and enable global manufacturers to evolve to subscription-based uptime service models, which is critical on the journey to servitization. The Syncron Service Cloud applies machine learning to multi-echelon logistics and IoT data designed to deliver predictive insights and drive enhanced customer experiences, greater efficiency and brand loyalty. Headquartered in Stockholm, Sweden, Syncron powers the after-sales service organizations of many of the world’s leading manufacturers, including Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota. Syncron has more than 330 employees across 10 global offices and is a recipient of the Great Place to Work® award.

“We are delighted to partner with Summit Partners to support Syncron’s next chapter of expansion and our path to IPO readiness,” said Anders Grudén, CEO of Syncron. “Summit’s deep experience collaborating with high-growth, enterprise SaaS companies will add valuable support to our vision of leading the transition from reactive, break-fix after-sales service to intelligently maximizing product uptime and customer loyalty.”

“We believe Syncron is uniquely positioned to support global OEMs on their journey towards servitization,” said Antony Clavel, a Principal at Summit Partners who will join the Syncron Board of Directors. “Across automotive, industrial machinery, high-tech, aerospace and many other industries, sophisticated manufacturers are working with Syncron to drive after-sales service excellence.”

“Syncron is an impressive technology company serving some of the world’s most respected manufacturing brands,” added Han Sikkens, a Managing Director with Summit Partners who will also join the company’s Board of Directors. “The Syncron team has delivered strong, profitable growth on a global scale and we look forward to supporting the company’s continued market leadership.”

Summit Partners manages over $14 billion in capital and has invested over $2 billion in European-headquartered growth companies. Syncron represents Summit Partners’ first investment in Sweden.

About Syncron
Syncron empowers the world’s leading manufacturers to maximize product uptime and deliver exceptional after-sales service experiences, while driving significant revenue and profit improvements. From industry leading investments in research and development, to providing the fastest time-to-value, Syncron’s award-winning, cloud-based service parts inventory, price and uptime management solutions are designed to continually exceed customer expectations. Top brands from around the world trust Syncron to transform their after-sales service operations into competitive differentiators. For more information, visit syncron.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology and industrial technology companies financed by Summit Partners include Avast, Darktrace, Elatec, Flow Traders, McAfee, OnRobot, SmartSheet, Trintech, WebEx and Welltec. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Congratulations to John Schreiber, Drew Smith, Emily Snell and the entire InfoArmor team on today’s $525 million acquisition by Allstate Corporation (NYSE: ALL). We believe this acquisition underscores the enormous and escalating impact of high-profile data breaches and identity theft in an evolving threat landscape. But as importantly, it highlights the incredible vision and tireless execution of the InfoArmor team. A founder-owned and bootstrapped business, InfoArmor developed a differentiated and highly scalable go-to-market strategy and became a leader in identity protection and advanced threat intelligence for employers all over the United States.

For more than three decades, Summit has sought out category leading, bootstrapped growth companies. When we first met the InfoArmor team, we quickly recognized the rare combination of great product-market fit, relentless focus on customer satisfaction, rapid growth and capital efficiency that we see and appreciate in many of the most successful growth companies. Prior to our partnership, the Scottsdale, Arizona-based company had raised no outside growth capital – and as a result, by necessity, the team had to be creative and disciplined in building the product, approaching the market and driving revenue growth.

We believed InfoArmor was doing something different in the enterprise security sector – both in product and in execution. Summit’s experience in cybersecurity spans nearly three decades and includes investments in a dozen companies that provide endpoint, network or application protection. InfoArmor addresses many of the same themes as these companies but targets a different and increasingly vulnerable vector of an enterprises’ attack surface: the employee.

InfoArmor’s solution is comprehensive and proactive. Through a combination of credit and financial transaction monitoring, social media review and proprietary dark web surveillance, InfoArmor surfaces compromised usernames, passwords and other personally identifiable information to help stop identity theft at its first sign.

But InfoArmor’s success goes beyond great products and services. Recognizing that enterprises have a very real stake in protecting their employees, InfoArmor developed a differentiated go-to-market approach, partnering with employers, benefit brokers, consultants and benefits exchanges to deliver identity protection solutions alongside existing employee benefits. The InfoArmor team built its product, organization and processes on a foundation of obsessive customer satisfaction. This drove strong referral business through InfoArmor’s benefits broker partners, resulting in exceptionally high market share, best-of-breed account expansion and retention rates, and profitable customer economics. Together, these attributes helped drive very rapid, high margin growth at scale. And the team’s execution has been stellar; since Summit’s investment in 2016, InfoArmor has more than tripled its customer base and today serves over 1400 businesses, protecting more than 2 million employees all over the U.S.

Joining forces with Allstate Corporation, InfoArmor now has the opportunity and the distribution network to bring their unique solutions – and unparalleled customer service – to more employees and enterprises. We are grateful for our partnership, and we wish the InfoArmor team the very best in their next phase of growth.

Since 1984, Summit Partners has invested in more than 475 companies in technology, healthcare and other growth industries. An alphabetical list of Summit Partners' growth equity portfolio companies can be found here.

This post originally appeared on LinkedIn

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_{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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.}

New York – OMERS Private Equity announced today a definitive agreement to acquire Paradigm Outcomes (“Paradigm” or the “Company”). Summit Partners (“Summit”), Paradigm’s existing majority owner, will continue to be a shareholder in Paradigm. Terms of the transaction were not disclosed.

OMERS Private Equity invests on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada. Its investment in Paradigm is the latest in a series of healthcare investments that includes Premise Health, Forefront Dermatology, CBI Health Group, Great Expressions, and Accelerated Rehabilitation Centers.

Based in Walnut Creek, California, Paradigm is a market leading provider of complex and catastrophic medical management to the U.S. workers’ compensation industry. Paradigm places the injured worker at the center of a dedicated team solely focused on achieving better medical outcomes while lowering overall costs. Specifically, over the past 25 years, Paradigm has leveraged nationally recognized doctors, expert clinical staff, a national facility network, and its specialty network footprint and capabilities, as well as clinical data from thousands of prior cases to guide decisions and outcomes.

John Watts, CEO of Paradigm, said, “We are excited to partner with OMERS and look forward to working together as we expand Paradigm’s services while we continue to focus on delivering best-in-class services to our clients. Our organizations are aligned in cultural values and in our shared vision for growth. With OMERS and Summit behind us, we will continue to raise the bar for managing complex healthcare needs.”

“It has been a pleasure to partner with John and the entire Paradigm team through a period of impressive growth. We are grateful for their hard work and strategic vision, and we look forward to continuing to work with them and to develop our partnership with OMERS in this next chapter,” said Darren Black, a Managing Director with Summit.

“Paradigm has consistently demonstrated an ability to provide great outcomes for patients and customers alike, and we are eager to partner with John Watts and the team,” said Geoff Bird, Managing Director, OMERS Private Equity.

“Our investment in Paradigm is consistent with OMERS Private Equity’s strategy of acquiring industry leading companies with world class management teams. The Company is a strong addition to our growing portfolio,” said Eric Haley, Managing Director, OMERS Private Equity.

Weil Gotshal & Manges LLP acted as legal counsel for OMERS Private Equity. JMP Securities LLC acted as exclusive financial advisor to OMERS Private Equity. Credit Suisse and SunTrust Robinson Humphrey, Inc. will act as joint lead arrangers for the credit facilities in support of the transaction.

About OMERS and OMERS Private Equity
Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with more than $95 billion in net assets, as at December 31, 2017. OMERS invests and administers pensions for more than 482,000 members through originating and managing a diversified portfolio of investments in public markets, private equity, infrastructure and real estate.

OMERS had private equity net investment asset exposure of $11.5 billion as at December 31, 2017. OMERS Private Equity, the private equity investment arm of OMERS with a team of investment professionals in Toronto, London, New York and Singapore, seeks to use its permanent and agile capital base to partner with management teams of industry leading businesses. For more information, please visit www.omersprivatemarkets.com.

About Paradigm Outcomes
Paradigm is the market leader in managing catastrophic and complex cases for the workers’ compensation industry. For more than 25 years, Paradigm has provided management services to improve health outcomes and lower medical spend for high-cost, complex cases. The Paradigm Outcomes business provides clinically-driven comprehensive care management programs for people with catastrophic injuries, achieving 5x better medical outcomes and lowering total costs by 40% compared to industry benchmarks. Together with its wholly owned subsidiaries ALARIS Encore, ForeSight Medical and Adva-Net, Paradigm works to improve health outcomes and lower medical spend for high-cost, complex cases.

Source: OMERS Private Equity

MINNEAPOLIS — Ascentis, a leading provider of cloud-based human capital management (HCM) solutions and integrated payroll services, today announced the acquisition of privately held time-and-attendance solution NOVAtime. NOVAtime is well-known for its innovation, intuitive features, and comprehensive workforce management tools. The acquisition positions Ascentis as one of the largest all-in-one HCM solutions in the industry.

“By joining forces with NOVAtime, Ascentis will provide the unmatched combination of world class service and innovative technology that HCM buyers crave,” said Brian Provost, CEO of Ascentis. “This acquisition represents a key strategic milestone in the company’s vision to become the premiere HCM partner of choice for growing organizations. Together, Ascentis and NOVAtime are able to offer HR leaders a self-driven path to adopt a complete set of end-to-end HR tools from a single supplier over time.”

Ascentis and NOVAtime have worked in partnership since 2012, providing complementary offerings with unsurpassed service and tech innovation leadership, respectively. Together, the combined business will offer a truly unique all-in-one solution that is unified, easy to use, and delivers actionable workforce insights.

Headquartered in Minneapolis, Minnesota, the two businesses will have a combined workforce of over 400 employees and a roster of nearly 5,000 clients across a variety of industries, including the public sector. Collectively, the businesses have seen impressive recurring revenue growth over the past year, and in 2017, Ascentis received growth financing from global growth equity investor, Summit Partners.

“Our team is excited about being able to offer our partner network a unified solution that will cover their clients’ needs from hire to retire,” said Frank Su, Founder of NOVAtime. “For our existing partners who rely on other HCM solutions, we’ll continue to take an open approach to integrating with those solutions, allowing them to add what they need at their own pace, creating a win-win for everyone.”

Ascentis has established itself as one of the few providers to give clients the option to deploy feature-level capabilities in the order important to an individual organization, and with the flexibility to meet that organization’s deployment needs. Now, the company is even better positioned to deliver an all-in-one HCM solution that comprehensively addresses clients’ needs.

About Ascentis
Ascentis helps organizations improve their human resources and payroll functions by offering an all-in-one Human Capital Management solutions suite, supported with a first-of-its-kind client centric service model. Recruiting, HRIS, Benefits Administration, Performance and Learning Management, Payroll and Workforce Management modules work independently or together to meet the needs of each client, wherever they are in the HCM journey. Ascentis enables companies to maximize management of their best asset – their people!

About NOVAtime
NOVAtime, with offices in Rancho Cucamonga, California, and has become the leader in integrating Workforce Management solutions with Human Resource and Payroll systems. Known for its scalable and leading-edge software and hardware technology, NOVAtime has been selected as the preferred Workforce Management / Time and Attendance solution provider by many of the best-managed companies in the world.

Source: Ascentis

Acquisition Advances Paradigm's Specialty Care Management Leadership, Further Builds Specialty Network Footprint and Capabilities

WALNUT CREEK, Calif. -- Paradigm Outcomes, the market leader in managing catastrophic and complex cases for the workers' compensation industry, today announced it has acquired Adva-Net, a leading ancillary network for high-acuity workers' compensation claims, providing services for comprehensive pain management, post-acute care management and addiction recovery. The acquisition will strengthen Paradigm's specialty network footprint and capabilities, accelerate new product development, and complement our core catastrophic and complex care management offerings.

"Our aim at Paradigm is to improve more lives and set a new standard for managing complex healthcare needs," said John Watts, CEO, Paradigm Outcomes. "To grow to the next level, we recognized the strategic value of joining forces with another market leader who shares our vision. Adva-Net diversifies our solutions while deepening our focus on clinically driven, network-based and outcomes-focused offerings for individuals with catastrophic injuries and complex medical issues. With today's acquisition of Adva-Net, and our prior acquisition of ForeSight Medical, Paradigm is in a strong position to become the nation's leading specialty network platform, supported by the industry's foremost clinical and business leadership team."

"Adva-Net has built a solid platform for specialty networks," said Dr. Kenneth (Ken) Hannigan, CEO of Adva-Net. I am looking forward to working with John and the team at Paradigm to create the next generation of solutions for complex care management."

About Paradigm Outcomes
Paradigm is the market leader in managing catastrophic and complex cases for the workers' compensation industry. The Paradigm Outcomes business provides clinically-driven comprehensive care management programs for people with catastrophic injuries, achieving 5x better medical outcomes and lowering total costs by 40% compared to industry benchmarks. Together with its wholly owned subsidiaries ALARIS Encore, ForeSight Medical and Adva-Net, Paradigm works to improve health outcomes and lower medical spend for high-cost, complex cases.

Source: PR Newswire

Leading SaaS-based TMS provider poised for accelerated growth

CARY, NC and MENLO PARK, CA – Summit Partners, a global growth equity investor, today announced the acquisition of MercuryGate International, Inc., a leading independent provider of SaaS-based transportation management system (TMS) solutions.

Co-founded in 2000 by CEO Monica Wooden and President Steve Blough, MercuryGate began with a mission to solve the most complex, high-volume transportation management challenges at an affordable price. Since those early days, the company has grown immensely. Last year alone, the MercuryGate TMS managed more than $70 billion of annual freight spend and supported over 300,000 daily logins from 80 countries. At the forefront of logistics technology innovation for the past 18 years, MercuryGate today is one of the most comprehensive SaaS-based TMS solutions in the market uniquely addressing all customer segments, including shippers, 3PLs, freight forwarders, freight brokers, and carriers.

“We selected Summit Partners amongst many other suitors because Summit shares our vision and commitment to extend the foundation we have built into a platform for accelerated innovation, global ecosystem enablement, and customer scale,” said Monica Wooden. “I was looking for an investment partner that had the growth-oriented strategic and operational resources to take us to the next level, and I found that formula in Summit Partners.”

As part of this transaction, Monica Wooden will transition into a customer-facing role at the company as Chief Revenue Officer, while Co-founder and President Steve Blough will continue on as Chief Product Officer. Joe Juliano, an Executive-in-Residence (“EIR”) with Summit Partners and software industry leader, will join MercuryGate as President and CEO and will work closely with Monica and Steve to drive growth and scale initiatives.

Mr. Juliano brings a deep background in both supply chain and SaaS software, as well as a demonstrated expertise in optimizing go-to-market strategies, achieving high levels of customer satisfaction and accelerating revenue growth. Prior to joining Summit’s EIR program, Mr. Juliano served as President and CEO of IQNavigator, a provider of SaaS solutions that enables businesses to source, manage, and pay contingent workforces. Previously, he was President of RedPrairie, a provider of supply chain, transportation management, and workforce management software, which merged with JDA Software, and he served as President and CEO of PrimeRevenue, a SaaS supply chain financing company. Prior to PrimeRevenue, Mr. Juliano led all commercial efforts of two publicly-traded companies: Ariba and FreeMarkets.

“Joe’s strategic vision, supply chain and transportation expertise, and track record of growing and scaling software businesses and delivering excellent customer service make him the natural choice to lead MercuryGate in our next chapter of our growth,” said Ms. Wooden. “I look forward to working closely with Joe to drive continued product innovation and deepen our commitment to our customers.”

“MercuryGate is a world-class company dedicated to serving the needs of a highly complex market with an extremely configurable and scalable SaaS solution,” said Mr. Juliano. “I’m excited to collaborate with Monica, Steve, and the MercuryGate team and to leverage Summit’s growth-oriented strategic and operational resources to build upon MercuryGate’s strong foundation and expand its global footprint.”

“With the addition of Joe’s significant experience in customer-centric growth, we believe MercuryGate has the right combination of vision, product and leadership to drive continued growth in the TMS sector, and we are excited to continue building on the momentum they have achieved to-date,” added Peter Rottier, a Managing Director with Summit who will join the MercuryGate Board of Directors.

“MercuryGate offers a strong product with incredibly rich functionality,” said C.J. Fitzgerald, a Managing Director with Summit Partners, who will also join the MercuryGate Board of Directors. “We believe the company is strongly positioned for continued growth as organizations large and small seek SaaS solutions to manage their transportation and logistics operations for improved productivity and operational efficiency.”

“We have been pleased to partner with MercuryGate’s management team and support the company through an impressive growth period,” said Alex Berzofsky, Managing Director, Warburg Pincus, which previously invested in MercuryGate. “MercuryGate is a clear leader in TMS software solutions and we are confident they will enjoy continued success.”

About MercuryGate International
MercuryGate provides powerful transportation management solutions proven to be a competitive advantage for today’s most successful shippers, 3PLs, freight forwarders, brokers, and carriers. MercuryGate’s solutions are unique in their native support of all modes of transportation on a single platform including Parcel, LTL, Truckload, Air, Ocean, Rail, and Intermodal. Through the continued release of innovative, results-driven technology and a commitment to making customers successful, MercuryGate delivers exceptional value for TMS users through improved productivity and operational efficiency. MercuryGate offers business intelligence to improve transportation processes, increase customer satisfaction, and reduce costs.

Find out why MercuryGate has set the industry standard for the most adaptable, comprehensive transportation solutions suite in the industry at www.mercurygate.com or on Twitter at @MercuryGate.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology and software companies financed by Summit Partners include Fineline Technologies, FleetCor, Hiperos, HelpSystems, Infor, Mi9 Retail, Navis, Perforce Software, RELEX Solutions, SmartSheet, Trintech and Uber. Summit maintains offices in North America and Europe, and invests in companies around the world. Summit’s Executive-in-Residence (“EIR”) program facilitates collaboration between seasoned industry executives and Summit’s sector teams who work together to identify investment opportunities, conduct due diligence, and create and support value creation plans for the companies with which Summit has partnered.

For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

SACRAMENTO, Calif. -- Surgical Affiliates, a leading surgical hospitalist company, today announced that Dr. Leon J. Owens, M.D., FACS, founder will transition from Chief Executive Officer (CEO) to Executive Chairman of the Board. Dr. Lynette Scherer, M.D., FACS, Chief Medical Officer will step into the role of CEO. Dr. Owens will continue to focus on sustainable growth and the company culture of Surgical Affiliates. Surgical Affiliates also announced the recent hire of Scott Flacks as the Chief Operating Officer (COO).

"Since Dr. Scherer joined Surgical Affiliates in 2013, we have put our heart and soul into the mission of making a positive impact on delivering the highest quality surgical care by compassionate and talented providers and by providing growth opportunities for our people," Dr. Owens said. "We have a relentless focus on finding the right people, playing to their strengths, and empowering them to Own their Outcomes. As leaders, we've watched the company grow in ways we couldn't imagine by enabling others to step into new roles with an eye toward delivering the best outcomes in the business. Having Dr. Scherer by my side has been instrumental in my journey as CEO, and that formula doesn't change as I transition to Chairman with me by hers."

Dr. Scherer received her medical degree from Tufts University School of Medicine in Boston where she graduated with honors. She completed her general surgery residency and trauma/critical care fellowship at the University of California, Davis Medical Center. In addition to being board certified by the American Board of Surgery, Dr. Scherer is a fellow of the American College of Surgeons and is an active member in the largest national trauma society, the American Association for the Surgery of Trauma. Through her leadership, the company has become a recognized and trusted partner for delivering Surgical Hospitalist programs. She is responsible for scaling an entrepreneurial outfit into a large and reliable organization, while keeping the innovative spirit of the original culture.

"People are the secret sauce at Surgical Affiliates," said Dr. Scherer. "We give leaders from within an opportunity to grow and we recognize those responsible for our success. Dr. Owens and I have had this succession plan in place for many years and will continue to grow our teams and the business with the same vigor and passion as the day we started Surgical Affiliates.

"Having an exceptional Executive and Field Management team has expedited the need for us to make this transition and open up new opportunities for those in the company as well as new employees looking for a rewarding career path. This philosophy was supported and bolstered by our recent hire of Scott Flacks.

"Scott Flacks brings more than 20 years of experience in global operations, strategic planning, marketing, contact center management, and customer support experience to Surgical Affiliates. He is responsible for a broad variety of practice operations including recruitment and credentialing, and hospital and third-party payer relationships."

Prior to joining Surgical Affiliates, Scott was an influential force in healthcare technology helping drive double digit growth in users and revenues as Chief Operating Officer for IDEAL LIFE. He has extensive experience in building strategic partnerships with healthcare organizations and implementing processes that improve quality while simultaneously improving user experience.

About Surgical Affiliates Management Group, Inc.
Surgical Affiliates Management Group is the first surgical hospitalist company with published, proven results that its programs improve patient care, lower costs, reduce readmissions, and enhance hospital throughput. Surgical Affiliates' System of Care© is a permanent solution to the challenge of providing integrated, 24/7 hospital-based surgical teams and one that raises the level of hospital performance across the board, preparing these facilities for the world of pay-for-performance and accountable care models. Surgical Affiliates provides trauma, orthopedic, neurosurgical and acute care surgery programs in hospitals ranging from rural facilities to large community hospitals to multi-hospital systems.

Source: SAMGI

ADDISON, Ill.-- Parts Town, the leading parts distributor in the commercial foodservice equipment market, has acquired PartsXpress, the commercial foodservice equipment parts business division of Smart Care Equipment Solutions. Financial terms were not disclosed.

As part of this acquisition, Parts Town will become the primary supplier of genuine OEM parts to Smart Care Equipment Solutions’ technicians. The acquisition will further expand Parts Town’s leadership in supporting field service companies across the globe with the genuine OEM parts they need to deliver field service excellence. Smart Care Equipment Solutions will retain and build on its growing national field service capability, not acquired by Parts Town.

“PartsXpress is an exciting addition to the Parts Town family and will further strengthen the value Parts Town brings to both manufacturers and customers,” said Steve Snower, CEO of PT Holdings, parent company of Parts Town. “This acquisition moves us one step closer to our vision of making it easier, faster and even kinda fun for customers to find and buy foodservice equipment parts. The PartsXpress team brings a strong and diverse customer base and demonstrated expertise and passion for servicing customers, and we look forward to welcoming a new group of accomplished team members to Parts Town’s dynamic culture.”

The acquisition of PartsXpress further strengthens Parts Town’s global market leadership in the industry. In addition to its growth from acquisitions, Parts Town continues to sustain high organic growth rates, with 2018 on pace to deliver over 30 percent growth, building on its streak of 15 consecutive years with more than 20 percent organic growth. The company’s consistent growth is driven by a differentiated inventory, unique technology and partnerships with the industry’s leading manufacturers.

Bill Emory, CEO of Smart Care Equipment Solutions adds, “The sale of PartsXpress is another key step in our strategic plan to build Smart Care Equipment Solutions into the nation’s premier foodservice equipment care company. It allows us to focus on growth by doing what we do best: delivering great service for our customers through the strongest and largest team of commercial kitchen equipment technicians. ”

About Parts Town
Parts Town is the market-leading distributor of genuine OEM (original equipment manufacturer) foodservice equipment parts. When there’s a hiccup in any commercial kitchen, Parts Town is ready to jump in and help with the most in-stock parts on the planet, innovative technology, and an unmatched customer experience. Customized solutions benefit food equipment service companies, chain restaurants, institutions and independent restaurants.

Our 360-degree imaging technology, PartSPIN®, valuable interactive diagrams, convenient Smart Manuals, and the industry’s first mobile app allow customers to easily and conveniently find and view equipment manuals and parts in the field, where that info is needed most. These innovations, paired with same day shipping and extended hours of operation, ensure the correct part is ordered and delivered every time.

Partnering with the top manufacturers of commercial cooking, refrigeration, ice and beverage equipment and more, Parts Town improves the supply chain, increases sales of genuine OEM parts and keeps every customer’s business running like clockwork.

Parts Town makes finding and buying foodservice equipment parts easy, fast and kinda fun.

Source: Business Wire

New funding allows Podium to double its engineering team and expand product offerings to better serve mid-market and enterprise clients

LEHI, Utah — Podium, the leading customer communication platform for local businesses, today announced that it has raised a $60 million Series B growth round of funding led by IVP with participation from Accel, Summit Partners, GV (formerly Google Ventures), and Y Combinator.

Podium launched in 2014 as a product to help local businesses get honest and timely online reviews. Since then, the company has developed additional products to create a communication platform facilitating convenient interactions for any company that interacts with its customers through a physical location. Podium's platform now supports customer messaging, reviews, webchat and customer feedback using channels that customers actually use and trust. In less than four years, the Podium platform has been adopted by nearly 20,000 businesses that drive over 4 million customer interactions per month.

"This investment marks a big milestone in Podium's growth," said Eric Rea, co-founder and CEO of Podium. "Local businesses and service providers comprise roughly a third of the entire non-farm GDP. The vast majority of these companies aren't directly competing with online retailers for their services or products, but they are competing against their convenience. This investment will allow Podium to continue providing new tools to bridge that level of convenience and modernize the way these businesses communicate on a local level."

Podium will be using the funding to further develop existing and future products. Due to increased demand from mid-market and enterprise clients, Podium will also be developing products and features to better serve these customers as well as expanding into more international markets.

"Podium has become one of the most promising tools a local business could use," said Sandy Miller, general partner at IVP. "This market is absolutely immense. By addressing an overlooked area where local businesses and services have been woefully underserved, Podium's technology allows for these companies to easily adapt and conveniently communicate with their customers."

Podium started 2015 with an employee count of five. By the beginning of 2018, that number has grown to more than 300. Podium plans to add another 100 employees by the end of the year, using the resources from this round to double its engineering staff.

"The growth Podium has experienced in just four years puts them on track to be one of the most elite SaaS companies we've seen," added Tom Loverro, principal at IVP. "As a firm, we have been able to work with some of the largest and most successful SaaS companies in the world. We could not be happier to add Podium to that list and being a partner in their growth story."

Read more about Podium's funding announcement at https://blog.podium.com/series-b/.

About Podium
Podium modernizes the way business happens locally with products designed to help businesses be found, chosen, and gain insight into their customers' experience. By conveniently facilitating millions of customer interactions, such as driving customer-generated online reviews and providing improved customer communication tools, Podium serves 150,000+ users across nearly 20,000 local businesses. Headquartered in Lehi, Utah, and founded in 2014, Podium is currently backed by IVP, Accel, Summit Partners, GV (formerly Google Ventures), and Y Combinator. To learn more, visit www.podium.com or contact us at press@podium.com.

Source: Podium

BARCELONA, SPAIN; WESTWOOD, MA; AND LONDON, UK – Global growth equity investor Summit Partners today announced that Advance Medical, a leading global provider of telehealth services, has been acquired by Teladoc (NYSE: TDOC), the international leader in virtual care. Summit made a minority investment in Advance Medical in January 2018.

Founded in 1999 by Marc Subirats and Carlos Nueno, Advance Medical is a worldwide leader in telemedicine and expert medical opinion services. The acquisition of Advance Medical expands Teladoc’s international footprint, broadens its breadth of medical services and its physician network, and extends the company’s market leadership.

“From the early days of our relationship, Summit distinguished itself as a productive and knowledgeable partner,” said Marc Subirats, Co-founder and Co-CEO of Advance Medical. “With a deep understanding of the global healthcare landscape and extensive, growth-focused operational expertise, Summit was able to deliver immediate, tangible value to our business.”

“Over the three years preceding their investment, Summit took the time to truly understand our business and provided valuable perspective as Advance Medical navigated a period of strong growth and expansion,” added Carlos Nueno, Co-founder and Co-CEO of Advance Medical. “We are excited for this next stage of the company’s development and the opportunity to further extend the reach of our services as part of Teladoc.”

“Carlos, Marc and the rest of the Advance Medical team have built an impressive, patient-centric business dedicated to improving access to high-quality healthcare regardless of geography,” said Thomas Tarnowski, a Managing Director with Summit Partners. “It has been a great pleasure building a strong relationship with this team over the past few years, watching the business evolve and supporting their vision of delivering a comprehensive virtual care solution to patients and companies around the world.”

Teladoc completed its acquisition of Advance Medical on May 31, 2018. The purchase price consists of approximately $292 million in cash and $60 million of Teladoc common stock.

About Advance Medical
Founded in 1999, Advance Medical is a worldwide leader in telemedicine and expert medical opinion services, employing more than 800 dedicated health professionals worldwide, including over 400 medical doctors and nurses, who collaborate with a network of more than 50,000 leading experts around the world to improve patient care. Partnered with more than 300 large, multinational employers and insurers across Europe, Asia, Latin America and the U.S., Advance Medical has built an integrated portfolio of high quality telehealth and expert medical opinion solutions, including Global Care on Demand, and the Virtual Medical Home.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in healthcare & life sciences, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable healthcare & life sciences investments include DentalPro, HealthSun Health Plans, HealthCare Partners, Independent Vetcare, MDVIP, Modernizing Medicine, Nighthawk Radiology and Wellcentive. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Winshuttle, the leading SAP-centric robotic process automation and data management platform provider, announces it has been acquired by Symphony Technology Group (STG).

Winshuttle Holdings, LLC (Winshuttle), the leading SAP-centric robotic process automation and data management platform provider, announced today that it has been acquired by Symphony Technology Group (STG) based in Palo Alto, CA. STG is a strategic private equity firm with $2 billion in assets under management focused on transforming high-potential companies into definitive market leaders. The firm’s long-term outlook allows its portfolio of software, data and analytics companies to develop innovative product offerings that will appeal to high-growth markets.

“This is an exciting step for Winshuttle that will allow us to leverage the tremendous expertise of STG to accelerate and scale our offering in the application data management space,” said John Pierson, CEO of Winshuttle. “This partnership will allow us to deepen and broaden the value we deliver to our very satisfied customer base comprised of many of the world’s largest brands.”

Winshuttle is a leading provider of data automation and data process management software for the enterprise, typically in SAP environments. The company offers software that improves data accuracy and maximizes the productivity of business users who interface directly with SAP (e.g., Finance, HR, Supply Chain, IT) by automating workflows and data movement. Winshuttle has a total global headcount of approximately 300 people with headquarters in Bothell, Washington, offices in North America, UK, France, Germany, and India, and remote employees around the world.

“Winshuttle is an established leader in the data management and robotic process automation industry with an excellent track record of providing innovative solutions that serve the needs of more than 1,800 of the world’s largest corporations,” said William Chisholm, STG Managing Partner. “We are thrilled to partner with John and the Winshuttle team to help accelerate the growth of the company’s next generation of application data management solutions. We look forward to embarking together on the journey ahead.”

Spurrier Capital Partners acted as financial advisor to Winshuttle and Paul Hastings LLP acted as legal advisor to STG for this transaction.

About Winshuttle
Winshuttle software empowers business teams to make an impact through solutions that make it quick and easy to exchange data with SAP using Excel, streamline SAP business processes using forms and workflows, and improvedata quality using data stewardship capabilities.

Its business led, IT-enabled solutions enable users to automate processes and solve problems without compromising security or governance. Business teams can author solutions across lines of business and the SAPlandscape, speeding product launches and financial accounting processes, streamlining customer and vendor onboarding, improving plant maintenance efficiency, and tackling data migration projects.

Learn more about Winshuttle’s SAP data management solutions by visiting www.winshuttle.com

About Symphony Technology Group
Symphony Technology Group (STG) is the private equity partner for market-leading data, software and analytics companies. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG’s expansive portfolio has consisted of more than 30 global companies. For more information, please visit www.stgpartners.com.

Source: Winshuttle

BELLEVUE, Wash., April 26, 2018 – Smartsheet Inc. (NYSE: SMAR), a leading provider of a cloud-based platform for work execution, today announced the pricing of its initial public offering of 11,633,920 shares of its Class A common stock at a price to the public of $15.00 per share. Smartsheet is offering 10,000,000 shares and certain selling shareholders are offering 1,633,920 shares. In addition, Smartsheet has granted the underwriters a 30-day option to purchase up to an additional 1,745,088 shares of Class A common stock. The shares of Class A common stock are expected to begin trading on the New York Stock Exchange under the symbol “SMAR” on April 27, 2018.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, and Jefferies LLC are acting as lead book-running managers for the offering. RBC Capital Markets LLC is acting as joint bookrunner. Canaccord Genuity LLC, William Blair & Company, L.L.C., and SunTrust Robinson Humphrey, Inc. are acting as co-managers.

The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204, or by email at prospectus-eqfi@jpmchase.com; or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at ProspectusDepartment@Jefferies.com.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Source: Smartsheet

Munich, Germany and London, United Kingdom – Summit Partners, DPE Deutsche Private Equity (“DPE”) and their co-investors have closed the previously announced majority recapitalization of Elatec, a leading global provider of multi-standard RFID readers. As part of this transaction, DPE and its co-investors will remain minority shareholders in the company.

Joseph Grillo appointed Chairman of the Board of Directors
In conjunction with the closing of the investment, Joseph Grillo has been appointed as Chairman of the Board of Directors of Elatec. Joseph is a 30-year veteran of the electronic security and identification industries with a track record of successfully growing, acquiring and restructuring businesses. In 2012, Joseph founded ACRE, LLC as a platform to consolidate acquisitions in the electronic security industry. Over the past 6 years, ACRE has expanded its portfolio significantly and recently sold its Mercury Security business to HID Global.

Joseph is known for his long-term association with HID where he participated in the management buyout of HID from Hughes Aircraft/General Motors in 1995. During his 12 years with HID, Joseph served in various leadership roles ranging from VP of Sales and Marketing to Chief Operating Officer to Chief Executive Officer and President. Under Joseph’s leadership, HID grew from a $15M card and reader company in 1995 to a dominant $100M+ industry leader in radio-frequency technology for security applications by 2000. Joe also led the successful sale of HID to Assa Abloy in 2001 and, until his retirement in 2007, continued to run Assa Abloy’s $750M Global Technology Division.

“We are very pleased to have Joe join our board,” said Dr. Matthias Allgaier, a Managing Director at Summit Partners, who has also joined the Elatec Board. “Joe’s track record in the secure electronic identification industry is unrivalled and we look forward to collaborating with him and the Elatec team to help accelerate the company’s growth into new geographies and industry verticals.”

About Elatec
Elatec, based in Puchheim near Munich, is specialized in the development and global sales of contactless (RFID, NFC, Bluetooth) and contact (SmartCard) readers/writers. Elatec modules enable the clear identification of individual users on end devices and are used across a broad range of numerous applications and solutions, such as secure printing, elevator systems, fitness devices, industrial production, kiosk, physical access, and point-of-sale systems. The readers/writers developed by Elatec support all common RFID standards worldwide, which allows the greatest possible degree of flexibility in integrating new peripheral devices into existing RFID-based security environments. Elatec is therefore the world's leading manufacturer of multi-standard RFID readers for high- and low-frequency RFID coverage. For more information, please see www.elatec.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology and technology-enabled business services companies financed by Summit Partners include Fineline Technologies, FleetCor, Hiperos, HelpSystems, Infor, Mi9 Retail, Navis, Parts Town, PSC Info Group and RELEX Solutions. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

About DPE Deutsche Private Equity
DPE is a partnership headquartered in Munich and founded ten years ago with the aim of supporting the growth of medium-sized companies. We view ourselves as entrepreneurs and pursue long-term strategies in the sustainable development of market leaders. Based in Munich, we focus exclusively on medium-sized companies in the German-speaking region. Since its founding, DPE has successfully launched three funds. DPE has EUR 1.2 billion assets under management, EUR 600 million of which in DPE’s third fund. Since 2007, we have invested in 22 platform companies and made 50 follow-up investments together with these portfolio companies. For more information, please see www.dpe.de.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

BERLIN -- Signavio, a multi-award-winning regular on Deloitte’s Technology Fast 50 list, has received a €15.5 million investment following the company’s 90% growth in 2017. The Series B funding round, led by global growth equity investor Summit Partners, will help Signavio continue to expand its international presence.

In the past two years, Signavio has extended its geographical footprint from three to eight office locations and grown its staff from 75 to 230, fueled by booming demand for Business Process Management (BPM) services worldwide. With the global BPM market predicted to grow 12% annually over between 2017- 2023, Signavio has also significantly expanded their management team, adding seasoned leaders from companies such as Hybris/SAP, Box, Gartner, OpenText, and Salesforce.

"The introduction of the Signavio Business Transformation Suite was very well received in the market place," says Gero Decker, CEO and co-founder of the company. “Signavio’s Business Transformation Suite strength lies in its dynamic management system, enabling businesses to pivot their strategy using real-time data which can be translated into actionable insights. Our products for modelling, analysis, and business optimization allow our clients to deliver process improvements significantly faster than traditional approaches.”

"In addition to Signavio’s core strength of collaborative process design, this also enables Process Mining, giving businesses the ability to turn digital traces of transactions into actionable process insights. With this move, Signavio now addresses a growing list of blue chip customers on the path to improved customer experience and process excellence.”

Matthias Allgaier, Managing Director at Summit Partners, said: "We are impressed by Signavio’s dynamic growth and by the incredibly positive feedback from customers. A customer churn rate of less than 2% is impressive for a SaaS business and we believe illustrates the value that Signavio’s solutions deliver.”

Allgaier added: “Signavio has already established itself as one of the largest European specialist SaaS companies, and we believe it has the potential to become one of the champions of international software in the coming years."

About Signavio
With over 1 million users in over 1,000 companies worldwide, Signavio has rapidly established itself as the leading provider of cloud-based process modeling and management systems. Signavio’s innovative Business Transformation Suite, including the Stevie Award-winning Signavio Process Manager, is recognized for its ease of use and rapid return on investment. Signavio Process Intelligence is also the price-performance leader in automated business process discovery, and process performance management. For more information, visit www.signavio.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

Washington, D.C. - Danaher Corporation (NYSE: DHR) (the “Company”) and Integrated DNA Technologies (“IDT”) announced today that Danaher has entered into a definitive agreement to acquire IDT, a privately-held provider of high-value consumables for genomics applications in molecular biology, qPCR, next generation sequencing, synthetic biology, gene editing and molecular diagnostics.

IDT’s primary business is the manufacturing of high-quality, custom DNA and RNA oligonucleotides serving customers in the academic and biopharmaceutical research, biotechnology, agriculture, clinical diagnostics, and pharmaceutical development end markets. Founded in 1987 by Joseph Walder, MD, PhD, IDT has grown to become a leader in its served markets with more than 1,200 employees and over 100,000 customers worldwide. IDT will operate as a standalone operating company and brand within Danaher’s Life Sciences platform.

Rainer Blair, Executive Vice President of Danaher’s Life Sciences platform, said, "We are thrilled to have IDT join Danaher's Life Sciences platform. IDT expands our presence into the highly attractive genomics market and will help play a central role in accelerating our customers’ research and time to market as they develop critical diagnostic tests and potential life-saving therapies. IDT’s historical double-digit core revenue growth and strong margins are a testament to the team’s commitment to the highest standards of quality, service, and technical expertise.”

Thomas P. Joyce, Jr., Danaher President and Chief Executive Officer, stated, “Danaher is a proven steward of founder-led businesses, such as Hach and Phenomenex. We recognize the extraordinary contributions Dr. Walder and IDT have made to the advancement of genomics research and applications over the past 30 years. We look forward to supporting the IDT team and helping them leverage the tools of the Danaher Business System (DBS) to further enhance their growth profile and continue to create long-term customer value.”

“For more than 30 years, IDT's innovative tools and solutions for genomics applications have helped scientists advance their research and contribute to solving some of the world’s most vexing diseases and other challenges addressed by the life sciences community,” said Joseph Walder, CEO and Chairman of IDT. “Joining Danaher will allow us to accelerate the high pace of innovation and superior service our customers have come to expect from us, as well as help expand our global reach. I’m excited to watch IDT further grow and innovate in this expanding area of genomics with the help of DBS.”

The transaction, which is expected to close mid-year 2018, is subject to customary closing conditions and regulatory approvals.

About Danaher
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in some of the most demanding and attractive industries, including health care, environmental and industrial. With more than 20 operating companies, Danaher's globally diverse team of approximately 67,000 associates is united by a common culture and operating system, the Danaher Business System. For more information, please visit www.danaher.com.

About IDT
Integrated DNA Technologies, Inc. (IDT) develops, manufactures, and markets nucleic acid products for the life sciences industry in the areas of academic research, biotechnology, agriculture, medical diagnostics, and pharmaceutical development. The company's primary business is the production of custom oligonucleotides for molecular biology applications. IDT has developed proprietary technologies for genomics applications such as next generation sequencing, CRISPR genome editing, qPCR, and RNA interference. Through its GMP services, IDT manufactures products used in diagnostic tests for many forms of cancer and most inherited and infectious diseases. Serving over 100,000 life sciences researchers and producing over 65,000 nucleic acids daily, IDT is widely recognized as the industry leader in custom nucleic acid manufacture. The company serves its customers through direct sales in many countries and a network of international distributors. IDT’s corporate headquarters is in Skokie, Illinois, USA. Its manufacturing headquarters is in Coralville, Iowa, USA, with additional manufacturing facilities in San Diego, California, USA; Leuven, Belgium; and Singapore.

Source: IDT

Combination Creates A Vertically Integrated Leader In Cloud-Based Enablement Of Data-Driven, Value-Based Care

Accretive Transaction Accelerates Growth And Enhances Profitability

BOWIE, MD – Inovalon (Nasdaq:INOV), a leading technology company providing advanced, cloud-based platforms empowering a data-driven transformation from volume-based to value-based models across the healthcare ecosystem, today announced it has entered into a definitive agreement to acquire ABILITY Network (“ABILITY”) for aggregate consideration of $1.2 billion in cash and restricted stock, creating a vertically-integrated leader in cloud-based enablement of data-driven, value-based care. The transaction is expected to close in April 2018, subject to customary closing conditions and regulatory approvals and is expected to be accretive to Inovalon’s Non-GAAP diluted net income per share in 2018.

ABILITY is a leading cloud-based Software-as-a-service (SaaS) technology company helping to simplify the administrative and clinical complexities of healthcare. Through the myABILITY® software platform, an integrated set of cloud-based applications for providers, ABILITY provides core connectivity, administrative, clinical, and quality analysis, management, and performance improvement capabilities to more than 44,000 acute, post-acute and ambulatory point-of-care provider facilities.

The extensive datasets, on-demand compute capability, advanced analytics, and broad healthcare ecosystem connectivity enabled by the Inovalon ONE™ Platform will provide a significant expansion of application offerings within the myABILITY® software platform while also expanding the nature and reach of high-value solutions for Inovalon’s existing payer, pharma, and device client-base.

Upon closing, the combination of Inovalon and ABILITY creates a vertically integrated cloud-based platform empowering the achievement of real-time, value-based care from payers, manufacturers, and diagnostics all the way to the patient’s point of care.

Read the full press release here.

Source: Inovalon Holdings, Inc.

By Greg Goldfarb and Colin Mistele, Summit Partners

For nearly 34 years, Summit Partners has sought out the world’s great, bootstrapped growth companies. Today, we are pleased to announce our new minority growth investment in onXmaps (onX). onX is a special company based in Missoula and Bozeman, Montana. Eric Siegfried founded and bootstrapped onX to address a major gap in the outdoor recreation market – putting rich, interactive map-based information in the hands of hunters and outdoor enthusiasts so they can plan and navigate their journeys. onX is combining the power of the nearly ubiquitous global positioning receivers that are now in every smart phone with layers of mapping information to help users get the most from their time in the wild.

One of our core beliefs at Summit is that many great companies start with an entrepreneur’s deep, often personal understanding that there is some meaningful hole in the world – an opportunity missed or a problem left unsolved. The entrepreneur then put his or her head down to build the right solution. Often, they avoid outside capital, preferring to build their way and fearing that traditional capital sources could be disruptive to their culture or approach. Other times, outside capital avoids them, skeptical about whether the problem is important or the solution viable.

Having a bootstrapper’s mindset can be very hard in the early days. There is no capital to cushion air pockets. But, we believe it guarantees two things will be true if the company succeeds through these formative days:

1) The company will find product-market fit. By definition, customers will not fund a business via revenues if there is no market need or if the product fails to meet the need where one exists. Bootstrappers don’t have the luxury of venture capital funding with which to over-market or over-sell a solution that lacks market fit.

2) Founders and their team will control their destiny and timing when it comes to outside financing. Knowing their culture, business needs, values system, and personal and company objectives, they will have full self-awareness and control over when, with whom, and in what form they partner with investors and board members.

When we were introduced to Eric Siegfried and the onX team by our former partners at RightNow Technologies – Susan Carstensen, Jason Mittelstaedt, and David Vap, now at Yellowstone Growth Partners – we immediately recognized a special combination of culture, product-market fit, performance, and the rare blend of self-awareness and ambition that we find in many of the world’s great bootstrapped growth companies. Some might inquire skeptically whether it is possible to build a great growth company in Missoula and Bozeman, Montana. We had to look no further than who introduced us to onX – key team members at a Summit-backed company built almost entirely in Bozeman that went public in 2004 and was later acquired by Oracle for $1.5 billion in 2011. RightNow serves as a great reminder that world-class companies can be built in cities with populations less than 100,000, just as they can be built in cities of 10 million.

As we learned more about onX, three attributes stood out:

Serving a Market with Deep Passion and Affinity.
The onX team is comprised of outdoor enthusiasts and hunters who had all repeatedly experienced the same problem: although navigation and mapping are essential to both planning and the journey itself, the only available solutions were cumbersome and expensive. Most excluded critical information needed to plan and navigate an off-pavement adventure. onX’s team built the product they wished they had for their own use. As more hunters started using onX, word spread. For a tiny fraction of what many hunters spend each year, onX can transform the experience – allowing them to plan their routes, scout locations, observe precise property boundaries and land use, navigate and track their route, and utilize countless other capabilities to make their off-pavement adventure as rewarding as possible. And once they start using onX, they discover its value for fishing, camping, backpacking, motor sports, search and rescue, and many other outdoor applications.

Inputs and Outputs that Match.
It’s one thing to have a good idea, even a product that works. It’s another thing to build a business that works. Can it market and sell its products profitably? Can it retain its customers? Can it sustain its pace of innovation? Can it attract and retain talented team members? Can it achieve both top-line growth and bottom-line profitability? onX has the outputs that match the inputs.

The Mountain West Mindset.
Since 1999, Summit has partnered with more than a dozen companies in the five states traditionally considered to comprise the Mountain West of the United States. Since we work with entrepreneurs throughout North America, Europe, and Asia, why is it that a meaningful portion of our investments go to companies in a region that represents a tiny fraction of the total population? Maybe it’s the toughness and self-sufficiency that comes from time spent exploring the surrounding wilderness – climbing, hiking, hunting and camping. Maybe it’s that the region and people self-select, creating communities of individuals who don’t readily follow the herd. Maybe it’s because the region offers an attractive combination of challenging and rewarding jobs, with desirable work-life balance, cost of living, and recreational access. Whatever the reason, we see companies that are built to last – self-sufficient, disciplined, deeply customer-focused.

(Our apologies to the Mountain West conference, which apparently considers Hawaii and the Bay Area part of the Mountain West.)

We are constantly amazed and inspired by the courage, vision and tenacity it takes to bootstrap and build a company. We are grateful to the entire onX team for inviting us to be part of this special company. We look forward to navigating this next stage together.

Since 1984, Summit Partners has invested in more than 475 companies in technology, healthcare and other growth industries. An alphabetical list of Summit Partners' growth equity portfolio companies can be found here.

This post originally appeared on LinkedIn

MISSOULA, Mont. and Menlo Park, Calif. – onXmaps, Inc., provider of the onX HUNT mobile app and industry leader in mobile mapping technology for outdoor adventurers, today announced it has raised $20.3 million in a funding round led by global growth equity investor Summit Partners. Additional investors include Bessemer Venture Partners, Millennium Technology Value Partners, Next Frontier Capital and Steve Burke (CEO NBCUniversal). This event marks the largest growth equity investment in a mobile and consumer-focused business in Montana’s history.

“The onX team is incredibly passionate about empowering our customers’ outdoor pursuits by providing the best mobile experience and most relevant data,” said Eric Siegfried, CEO of onX. “This investment enables us to take our solutions and our team to the next level. Whether our customers are hunting big game, looking for the best spot to camp, fishing new water, or walking land ownership boundaries, onX has them covered – now and in the future.”

The capital will be used to expand the teams at onX’s Missoula and Bozeman, Montana, offices, to continue building all aspects of the company’s mapping solutions, and to assemble the definitive off-pavement mapping data set.

“In many ways, the onX story represents the quintessential entrepreneurial journey. Eric founded onX to address a major gap in the outdoor recreation market and bootstrapped the business to an impressive scale,” said Greg Goldfarb, Managing Director at Summit Partners and onX board member. “onX HUNT combines the power of the nearly ubiquitous global positioning receivers that are now in every smart phone with layers of mapping information to help users get the most from their time in the wild. We are excited to partner with the onX team for this next phase of growth.”

For additional perspective on Summit’s investment, visit: “Backing Bootstrapped Companies in the Mountain West – Our Investment in onX”.

OnX was founded in 2009 with the promise of providing confidence to always ‘know where you stand’ at the center of its mission. This still rings true today as the company’s flagship product, onX Hunt, helps hundreds of thousands of outdoorspeople successfully navigate public and private lands. Fueled by a deeply held passion for successful outdoor experiences, onX now employs nearly 70 people and plans to continue building its extraordinary team.

“A growth equity financing of this caliber, by a Montana company, is testament to onX’s vision and resolve to build best-in-class products for customers,” said Jason Mittelstaedt, Founding Partner at Yellowstone Growth Partners and onX Board Member. “It’s been an incredible experience partnering with Eric and the team for the past 2½ years to transform the business into a world-class mobile technology company. The growth of the company, team, technology and brand is amazing. And we believe they are just getting started.”

About onX
onX delivers the most relevant and rich geospatial data to any device, anywhere. The company aggregates nationwide data on property ownership, trails, permitted land use, and many other parameters. World-class GPS and mapping technologies present customized information to users, tailored to their off-pavement activities and locations. Founder and CEO Eric Siegfried initially launched onX products to hunters, a highly discerning mapping community. Since the Company’s 2009 founding, onX has used hunters’ backcountry experience and feedback to deliver products with ever wider appeal. Hundreds of thousands of customers trust onX to “know where they stand” and to open the off-pavement world to new, successful experiences. Whether they are finding a new hiking destination, a backcountry hunting spot, or an undiscovered fishing hole, onX helps customers create new outdoor experiences. Where the pavement ends, onX begins. www.onxmaps.com or Instagram @onXHunt.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology investments in the U.S. Mountain West region include, Clearwater, RightNow Technology, TSheets, Nighthawk Radiology, Podium, Vivint, Progressive Finance, ProClarity, Solutionreach and Wowza Media Systems.Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

About Yellowstone Growth Partners
Yellowstone Growth Partners works with innovative, big aspiration companies via board-level growth acceleration partnerships to build disruptive, high-value technology businesses. YGP leverages its transformative Growth Acceleration Program to bridge the gap between great ideas and products, to great businesses. With deep expertise across all C-level and Board roles for public and private SaaS companies, IPOs, M&A and capital sourcing, the YGP team is uniquely equipped to help transform early and mid-stage technology companies into built-to-last industry leaders. www.yellowstonegrowthpartners.com

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

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• DPE to sell majority stake in leading global provider of multi-standard RFID readers to Summit Partners
• Elatec will seek to accelerate growth through internationalization and expansion into new end markets
• DPE will remain a minority shareholder

Munich, Germany and London, United Kingdom – DPE Deutsche Private Equity (“DPE”) and its co-investors reached a definitive agreement to sell their majority holding in Elatec, a leading global provider of multi-standard RFID readers, through a majority recapitalization by global growth equity investor Summit Partners. DPE and its co-investors will retain a minority stake in the company. The transaction is subject to investment review by the German Federal Ministry for Economic Affairs and Energy and is expected to close in the first half of 2018.

DPE and Elatec: Improved market position and strong growth
Elatec is one of the world’s leading suppliers of multi-standard RFID readers. Since DPE’s investment in Elatec in January 2016, the company, headed by CEO and co-owner Stefan Haertel, has nearly doubled its revenues and headcount. “With DPE’s expertise in growth, we have successfully accelerated the development of our core business, strengthened our market leadership in Europe, expanded our U.S. presence, established an Asian footprint in both China and Japan, and diversified the industries served by Elatec‘s market-leading products,” said CEO Stefan Haertel. “DPE’s support has been instrumental in this growth, and we are now excited to welcome Summit Partners to the Elatec team. We look forward to leveraging Summit Partners’ deep expertise in supporting the global expansion of high-growth technology companies.”

Summit Partners and Elatec: A partnership for continued growth
DPE partner Dr. Frank Müller added: “We are delighted by Elatec’s growth during our partnership. The company has achieved its goals faster than planned, and we look forward to participating in the company’s continued development as a minority shareholder. We believe Summit Partners will be an ideal partner for Elatec’s next stage of growth.”

“Elatec’s multi-protocol solutions uniquely address a market need, supporting more than sixty different transmission standards and enabling the use of RFID applications across myriad end-markets,” said Dr. Matthias Allgaier , a Managing Director at Summit Partners who will join the Elatec Board of Directors. “We believe the company is well-positioned for continued, accelerated growth, bringing Elatec’s solutions to new customers, new verticals and new geographies.”

About Elatec
Elatec, based in Puchheim near Munich, is specialized in the development and global sales of contactless (RFID, NFC, Bluetooth) and contact (SmartCard) readers/writers. Elatec modules enable the clear identification of individual users on end devices and are used across a broad range of numerous applications and solutions, such as secure printing, elevator systems, fitness devices, industrial production, kiosk, physical access, and point-of-sale systems. The readers/writers developed by Elatec support all common RFID standards worldwide, which allows the greatest possible degree of flexibility in integrating new peripheral devices into existing RFID-based security environments. Elatec is therefore the world's leading manufacturer of multi-standard RFID readers for high- and low-frequency RFID coverage. For more information, please see www.elatec.com.

About DPE Deutsche Private Equity
DPE is a partnership headquartered in Munich and founded ten years ago with the aim of supporting the growth of medium-sized companies. We view ourselves as entrepreneurs and pursue long-term strategies in the sustainable development of market leaders. Based in Munich, we focus exclusively on medium-sized companies in the German-speaking region. Since its founding, DPE has successfully launched three funds. DPE has EUR 1.2 billion assets under management, EUR 600 million of which in DPE’s third fund. Since 2007, we have invested in 22 platform companies and made 50 follow-up investments together with these portfolio companies. For more information, please see www.dpe.de.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 475 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 190 have been acquired through strategic mergers and sales. Notable technology and technology-enabled business services companies financed by Summit Partners include Fineline Technologies, FleetCor, Hiperos, HelpSystems, Infor, Mi9 Retail, Navis, Parts Town, PSC Info Group and RELEX Solutions. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

BOSTON, MA; MENLO PARK, CA and LONDON, UK – Summit Partners, a leading alternative investment firm, today announced the promotion of nine professionals globally. Matt Hamilton was promoted to Managing Director; Johannes Grefe, Colin Mistele, Mark Nordstrom, Steffan Peyer and Ross Stern were promoted to Principal; Ian Rothkopf was promoted to Vice President; and Harry Fackelmayer and Bobby Humen were promoted to Senior Associate.

“We are very pleased to recognize the achievements of these talented colleagues,” said Peter Chung, Managing Director and Chief Executive Officer of Summit Partners. “We are proud of their accomplishments and their dedication to the Summit organization. In addition to their distinguished performance, they are all professionals of great character and integrity who are deeply committed to our portfolio companies and our limited partners.”

Matt Hamilton has been promoted to Managing Director. Matt joined Summit’s Boston office as an Associate in 2005. He was promoted to Senior Associate in 2008, Vice President in 2009, and he has served as a Principal since 2014. Matt is a member of Summit’s growth products & services team, where he focuses primarily on the consumer, retail, financial services and financial technology sectors. His investment and board experience includes Flow Traders (Euronext: FLOW), Focus Financial Partners (acquired by KKR and Stone Point Capital), Invoice Cloud, Progressive Finance (acquired by Aaron's), Salient Partners, Telerik (acquired by Progress Software) and Vestmark. Prior to Summit, Matt worked for Senator Olympia Snowe in the United States Senate. He holds a BA in economics, summa cum laude, from Colby College.

Johannes Grefe has been promoted to Principal. Johannes joined Summit’s London office as a Vice President in 2012. He is a member of Summit’s growth products & services team. Johannes’ board and investment experience includes Normec, Peak Well Systems (acquired by Schlumberger) and Sipartech. Prior to Summit, Johannes worked for Vitruvian Partners, TA Associates and Lazard. Johannes received an MSc in industrial engineering from University of Karlsruhe in Germany with highest distinction and an MS in engineering management from Portland State University.

Colin Mistele has been promoted to Principal. Colin joined Summit’s Menlo Park office as an Associate in 2011. He was promoted to Senior Associate in 2013 and Vice President in 2015. Focusing primarily on the technology sector, Colin’s investment experience includes Advanced Cell Diagnostics (acquired by Bio-Techne Corporation), Delphix, Gainsight, InfoArmor, Jamf, Podium, Reverb.com, RiskIQ, Rocket Fuel (NASDAQ: FUEL), TeleSign (acquired by BICS), TSheets (acquired by Intuit), Uber and Wowza Media Systems. Prior to Summit, Colin worked for Union Square Advisors, Accenture and Electronic Arts. He holds a BS in finance and marketing from Lehigh University.

Mark Nordstrom has been promoted to Principal. Mark joined Summit’s Boston office as a Vice President in 2010. He is a member of Summit’s Capital Markets team and works on the firm’s capital markets activities, both for existing portfolio companies and for new acquisitions. In addition, he helps Summit manage its commercial and investment banking relationships. Prior to Summit, Mark worked for Bank of America Merrill Lynch, Merrill Lynch & Co. and State Street Corporation. Mark holds a BA in economics from Wesleyan University.

Steffan Peyer has been promoted to Principal. Steffan first joined Summit’s London office as an Associate in 2007 and rejoined the firm in 2013 as a Vice President. Today, he focuses on the technology sector in Europe. His investment experience includes 360T Group (acquired by Deutsche Börse), Market Logic, PatSnap, RELEX Solutions and Signavio. Prior to rejoining Summit, Steffan was a member of the management team of Turbulenz Limited, an internet technology company responsible for developing the technology and platform that enables the revolutionary online game network, turbulenz.com. Steffan holds a BS in finance and accounting, magna cum laude, from Boston College.

Ross Stern has been promoted to Principal. Ross joined Summit’s Boston office as an Associate in 2009, and has been serving as Vice President since 2014. He is a member of Summit’s healthcare & life sciences team, and his investment and board experience includes DMG Practice Management Solutions (acquired by Ares Management), My Dentist (acquired by Heartland Dental) and Paradigm Outcomes. Previously, Ross worked at the Center for Medicare and Medicaid Innovation and in Cowen and Company’s Health Care Investment Banking Group, where he focused on M&A transactions as well as public and private offerings. Ross holds a BA in economics and history from Bowdoin College and an MBA from the Wharton School at the University of Pennsylvania.

Ian Rothkopf has been promoted to Vice President. Ian joined Summit’s Boston office in 2017 as a Senior Associate. He is a member of Summit’s Peak Performance Group and works with management teams to identify and execute growth strategies that build long-term value. Prior to Summit, Ian was a Principal at The Parthenon Group where he led strategic consulting projects with growth-stage, corporate and private equity clients. Ian holds a BA, cum laude, from Amherst College and an MBA with distinction from Harvard Business School.

Harry Fackelmayer has been promoted to Senior Associate. Harry joined Summit’s Menlo Park office as an Associate in 2015. He focuses primarily on the healthcare & life sciences sciences sector and his investment experience includes Healthline Media. Prior to Summit, Harry worked for Goldman Sachs in New York, where he was a member of both the Healthcare M&A Group and the Global Equities desk within the Securities Division. He holds a BA in economics from Union College.

Bobby Humen has been promoted to Senior Associate. Bobby joined Summit’s Boston office as an Associate in 2015. He focuses primarily on the healthcare & life sciences sector, and his investment experience includes DMG Practice Management Solutions and Paradigm Outcomes. Prior to Summit, Bobby worked for Lazard on the Middle Market Healthcare Mergers & Acquisitions team. He holds a BS in business administration, with distinction, from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 460 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

BARCELONA, SPAIN; WESTWOOD, MA; AND LONDON, UK – Advance Medical, a leading global provider of telehealth services, today announced a minority investment from Summit Partners. The funding will be used to support Advance Medical’s continued growth and international expansion.

Founded in 1999, Advance Medical is a worldwide leader in telemedicine and expert medical opinion services, employing more than 800 dedicated health professionals worldwide, including over 400 medical doctors and nurses, who collaborate with a network of more than 50,000 leading experts around the world to improve patient care. Advance Medical’s life-changing benefit programs cover more than 35 million people in over 125 countries through partnerships with large employers, leading insurers, and other groups.

“Advance Medical was founded with a mission to improve patient access to leading medical experts regardless of distance or borders,” said Marc Subirats, Co-founder and Co-CEO of Advance Medical. “Our platform allows us to deliver the highest quality medical advice and support to improve patient outcomes. We are excited to partner with Summit in our next stage of growth as we continue to expand our platform and global network.”

Carlos Nueno, Co-founder and Co-CEO of Advance Medical added, “Summit has significant experience partnering with high growth companies in both healthcare and technology and offers tremendous resources focused on accelerating expansion. We look forward to collaborating with the Summit team to build on the momentum we have achieved and to further establish our position as a global leader in the telehealth market.”

“With a best-in-class clinical platform, Advance Medical efficiently delivers high-quality remote care and expertise to patients across more than 125 countries in over 20 languages,” said Thomas Tarnowski, a Managing Director with Summit Partners. “We are proud to partner with the Advance Medical team. They have built a truly global business that aims to effectively leverage technology to improve patient outcomes while lowering healthcare costs. We are delighted to work with the team to help further expand the company’s services throughout the world.”

About Advance Medical
Advance Medical is one of the largest, physician-based telemedicine providers, offering employers and insurers the ability to provide top-quality, concierge-level medical advice and support to patients around the globe via offices in the U.S., Europe, Asia, and South America. Founded in 1999, Advance Medical has emerged as the global leader in expert medical opinions because of its programs executed exclusively by board-certified physicians – doctors who speak by phone or video consultation with every patient, no matter what the issue or concern and for as much time as necessary, to provide best-in-class medical expertise. For more information, visit www.advance-medical.net.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 460 companies in healthcare & life sciences, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Notable healthcare & life sciences investments include DentalPro, HealthSun Health Plans, HealthCare Partners,Independent Vetcare,MDVIP, Modernizing Medicine,NightHawk Radiology,and Wellcentive. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

New buy and build platform investment in leading software solution for enterprise scale DevOps teams

SANTA MONICA, CA and MINNEAPOLIS, MN – Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has acquired Perforce Software (“Perforce” or the “Company”), developer of the industry’s most flexible, scalable and secure version control and collaboration platform, from growth equity investor Summit Partners. The Company will continue to be led by Janet Dryer, CEO, and Mark Ties, COO, who will both join the Board of Directors alongside Clearlake. Financial terms were not disclosed.

Perforce is a leading provider of enterprise scale software solutions to technology developers and development operations (“DevOps”) teams requiring productivity, visibility and scale during all phases of the development lifecycle. Enterprises across the globe rely on its agile project management, developer collaboration, version control and repository management solutions as the foundation for successful DevOps. Perforce is trusted by the world's most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft, and VMware. Headquartered in Minneapolis, MN, with over 225 employees, the Company serves more than 3,000 customers worldwide.

“Today’s announcement represents another major milestone in our transformation of Perforce,” said Dryer. “Two years ago, we began this journey, and since then we have completed three acquisitions, returned the company to growth, and created a robust portfolio of DevOps-focused solutions adopted by the largest and most demanding enterprise development teams in the world. We thank Summit Partners for this outstanding partnership, and we look forward to working with the Clearlake team as we accelerate into our next phase of growth.”

“The Perforce team should be proud that all their hard work helped attract this new investment, and we are excited to partner with Clearlake,” said Ties. “We expect Clearlake’s deep software experience and their proven ability to help companies grow will provide invaluable support as we continue to broaden our DevOps solutions, expand internationally, and pursue our acquisition strategy.”

“We are impressed by the momentum at Perforce under Janet and Mark’s leadership, and we share their excitement that Perforce will serve as an excellent platform for growth, both organically and through acquisition,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We look forward to leveraging our O.P.S.® approach to support the management team and its many talented employees in continuing to provide best-in-class DevOps solutions to its global customer base.”

“High performance, enterprise scale software development teams are faced with stringent security and compliance requirements in addition to increasing complexity, with today’s continuous delivery environments,” added Paul Huber of Clearlake. “We believe Perforce’s technology and its proven security, performance, and scale uniquely position the Company to address these market trends and accelerate its growth trajectory.”

Harris Williams served as financial advisors to Clearlake. Shea & Company served as financial advisor to Perforce and Summit Partners. Antares Capital, AllianceBernstein Private Credit and Vista Credit provided a fully underwritten facility to help finance the transaction.

About Clearlake Capital Group, L.P.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed approximately $6 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.

About Perforce
Enterprises across the globe rely on Perforce to build and deliver digital products faster and with higher quality. Perforce offers complete developer collaboration and agile project management tools to accelerate delivery cycles — from agile planning tools to requirements, issues and test management, which then link to all source code, binary assets and artifacts for full build and release tracking and visibility. The company's version control solutions are well known for securely managing change across all digital content — source code, art files, video files, images, libraries — while supporting the developer and build tools your teams need to be productive, such as Git, Visual Studio, Jenkins, Adobe, Maya and many others. Perforce is trusted by the world's most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft, and VMware. The company has offices in Minneapolis, MN, Alameda, CA, Mason, OH, the United Kingdom, Finland, Sweden, Germany, and Australia, and sales partners around the globe. For more information, please visit www.perforce.com.

Source: Perforce

ADDISON, TEXAS and MENLO PARK, CALIFORNIA — Trintech, a leading global provider of integrated, cloud-based Record to Report (R2R) software solutions for the office of finance, today announced a majority recapitalization by global growth equity investor Summit Partners. After a period of remarkable growth, existing investor Vista Equity Partners and Trintech management will continue to retain a minority stake in the company.

Trintech’s cloud-based software optimizes the Record to Report process for companies across a variety of industries including retail, technology, restaurants, manufacturing, hospitality, finance, healthcare and more. Trintech’s clients rely on its integrated, end-to-end solutions to increase efficiency, reduce costs, and improve governance and transparency throughout the financial close process.

This funding comes during a period of strategic organic and inorganic growth, innovation and expansion for Trintech. Over the past two years, Trintech has more than tripled its customer base and today serves over 3,100 clients in more than 100 countries – including the majority of the Fortune 100. Recent acquisitions of Adra Software and Chesapeake System Solutions have broadened the company’s portfolio of best-in-class financial solutions to better meet the needs of its existing and prospective customers around the world. The Silicon Review named Trintech as one of the “50 Best Companies to Watch 2017” and CIO Applications Magazine recognized it as one of the “Top 25 Governance, Risk and Compliance Technology Providers of 2017.”

“We are excited to welcome Summit Partners to the Trintech team to help us seize the momentum that we built in partnership with Vista and Spectrum,” said Teresa Mackintosh, Chief Executive Officer of Trintech. “Summit brings tremendous experience in rapid-growth, enterprise-class SaaS businesses, along with a deep and demonstrated expertise in application software.”

“With innovative, end-to-end solutions, we believe Trintech is truly transforming the finance and accounting operations of enterprises around the world,” said C.J. Fitzgerald, Managing Director at Summit Partners. “Trintech is a clear leader in a large addressable market, and we believe there is significant opportunity for continued and accelerated growth – both organically and through opportunistic acquisitions.”

Peter Rottier, Managing Director at Summit Partners, added, “Teresa and her team have done an incredible job in driving organic growth and product innovation at Trintech, and they are committed to their customers’ success. We are looking forward to working together to build on the momentum they have established, and we’re thrilled for the opportunity ahead.”

“We are delighted by Trintech’s growth under Teresa’s leadership, as well as the strong management team she has built,” said Rob Rogers, Principal at Vista Equity Partners and Co-Head of the Vista Foundation Fund. “With Summit joining as a partner, we are confident that Trintech’s best-in-class technology and extraordinary team will continue to lead the market.”

Adam Margolin, board member from Spectrum Equity, which has been an investor in Trintech since 2011 and will be selling its ownership stake noted, “We are extremely grateful to the Trintech team for all of the value created through product innovation, market share gains and revenue growth over the past seven years. We wish the Trintech management team and shareholders well in this next stage of growth at the company.”

William Blair acted as exclusive financial advisor to Trintech in the transaction. Financing was provided by Golub Capital.

About Trintech
Trintech, Inc. pioneered the development of Financial Corporate Performance Management (FCPM) software to optimize the Record to Report process. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, journal entries, bank fee analysis, reporting, governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency®, Trintech Disclosure Management®, ReconNET™ and T-Recs®, help manage all aspects of the financial close process. Over 3,100 clients worldwide – including the majority of the Fortune 100 – rely on our cloud-based software to increase efficiency, reduce costs, and improve governance and transparency across global financial organizations.

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

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $14 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 460 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Notable software companies financed by Summit include Ascentis, Avast, Clearwater Analytics, Calypso Software, Jamf, Gainsight, HelpSystems, Hyperion Solutions, Infor, Perforce Software, SmartSheet and WebEx. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $30 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspectives. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies’ realization of their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.

About Spectrum Equity
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For more than 20 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. Representative investments include Ancestry, Bats Global Markets, GoodRx, Grubhub, Lynda.com, SurveyMonkey, Teachers Pay Teachers, Verafin and World-Check. For more information, visit www.spectrumequity.com.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

ANDOVER, MASSACHUSETTS — Casa Systems, Inc. (NASDAQ:CASA), a provider of software-centric solutions for next-generation distributed and virtualized architectures in cable operator, fixed telecom and wireless networks, today announced the closing of its initial public offering of 6,900,000 shares of its common stock at a public offering price of $13.00 per share, including 900,000 additional shares of common stock issued upon the exercise in full by the underwriters of their over-allotment option. The gross proceeds to Casa from the offering were $89.7 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares sold in the offering were offered by Casa. Casa’s shares began trading on The Nasdaq Global Select Market on December 15, 2017.

Morgan Stanley & Co. LLC and Barclays Capital Inc. acted as joint book-running managers for the offering, with Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated, Macquarie Capital (USA) Inc., Northland Securities, Inc. and William Blair & Company, L.L.C. acting as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. Copies of the registration statement can be accessed by visiting the Securities and Exchange Commission website at www.sec.gov.

This offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering was filed with the Securities and Exchange Commission and may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847 or by email at barclaysprospectus@broadridge.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Casa Systems
Casa Systems provides software solutions that enable cable, wireless and wireline broadband providers to meet the growing demand for gigabit bandwidth and services. We provide a suite of software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform at multi-gigabit speeds. In addition, we offer solutions for next-generation distributed and virtualized architectures in cable operator, fixed telecom and wireless networks. Our solutions are commercially deployed in over 70 countries serving more than 400 customers, including regional service providers as well as some of the world’s largest Tier 1 broadband service providers.

Source: Casa Systems

SOUTH SAN FRANCISCO, CALIFORNIA and BOSTON, MASSACHUSETTS — LakePharma, a leading U.S. biologics company specializing in antibody and protein engineering, cell line development and protein production, announced today that it has raised $30 million in growth financing led by global growth equity investor Summit Partners with participation from existing investor Ampersand Capital Partners. The funding will be used to enhance LakePharma’s existing service offering and grow the company’s biomanufacturing capabilities.

Founded in 2009, LakePharma provides a full range of biologics services and technology, which enables clients to accelerate product development from lead discovery to Phase 1 clinical trials.

LakePharma currently operates three laboratory centers in the Bay Area in Northern California and one in Worcester, Massachusetts. The company has plans to open additional centers in California and Massachusetts.

“Expanding our capabilities in biologics manufacturing is the next logical step in the growth of LakePharma,” commented Hua Tu, Chairman and CEO of LakePharma. “This investment will allow us to grow our service offerings to meet the needs of our customers, while we continue to add capacity and become a fully-integrated CDMO.”

“LakePharma is led by an impressive and highly regarded management team, with a demonstrated record of excellence in serving its pharmaceutical and biotechnology clients worldwide,” said Jesse Lane, a Principal with Summit Partners who will join the LakePharma Board of Directors. “We are excited to partner with Hua and the entire LakePharma team to support the company in its next phase of growth.”

Eric Lev, a Partner at Ampersand Capital Partners and existing LakePharma Board member added, “We see the opportunity for LakePharma to build upon its leading position in outsourced biologics development. This financing will assist the company as it continues to add capabilities and maintain its strong growth trajectory.”

About LakePharma
LakePharma is the leading US-based biologics company specializing in antibody engineering, antibody discovery, molecular engineering, protein chemistry, bioexpression, biofunction, bioprocessing, and bioanalytics. LakePharma focuses on integrated platforms to support projects throughout the drug discovery process. LakePharma offers dedicated client services and sophisticated software to provide real-time access to project data via a secure cloud-based portal. For more information, please visit www.lakepharma.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $15 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 460 companies in healthcare & life sciences, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Notable healthcare & life sciences investments include Advanced Cell Diagnostics, Clontech, Diagnostic Hybrids, Integrated DNA Technologies, HealthCare Partners, MDVIP, Modernizing Medicine and Wellcentive. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

About Ampersand Capital Partners
Ampersand is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed more than $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at www.ampersandcapital.com.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

BOCA RATON, FLORIDA – MDVIP, the national leader in affordable personalized healthcare, today announced that Leonard Green & Partners, a leading private equity investment firm, has acquired a majority interest in the company from global growth equity investor Summit Partners. Summit Partners, which initially invested in MDVIP in 2004 and later acquired it from Procter & Gamble in 2014, will remain a minority investor in the company. Terms of the transaction were not disclosed.

Founded in 2000 in Boca Raton, Florida, MDVIP leads the market in membership-based medicine with a growing network of over 850 affiliated primary care physicians currently serving more than 280,000 members across the country. Under the MDVIP model, physicians maintain smaller practices, allowing them to spend more time with patients than in a traditional practice model, and to provide highly individualized care with an emphasis on prevention and wellness. The company's patient satisfaction and annual membership renewals consistently exceed 90 percent.

"Leonard Green is an ideal partner for MDVIP, and their investment is a testament to the strength of our business model," said MDVIP Chairman and CEO Bret Jorgensen, who will continue to lead the company. "The core engine of MDVIP's network growth is as strong as it's ever been, and we look forward to working with the Leonard Green team on continuing to build on our success and pursuing new opportunities that deliver greater value to our physician affiliates and members."

Mr. Jorgensen added, "MDVIP has benefited greatly from the resources and expertise of Summit Partners, and we appreciate their longtime support as we embark on our next phase of growth."

"MDVIP has built an unrivaled network and proven model in consumer-directed healthcare that provides both physicians and patients an alternative to traditional, high-volume practices," said Alyse Wagner, Partner at Leonard Green & Partners. "With its market-leading position and strong management team, MDVIP is well-poised for ongoing and long-term success in a dynamic healthcare environment. We are pleased about this new partnership, which expands our portfolio in the healthcare services sector."

Leonard Green & Partners is a leading private equity investment firm with more than $25 billion of assets currently under management. Since its founding in 1989, the firm has invested in over 80 companies primarily in the consumer, business services, healthcare services and retail sectors.

"We are proud of the growth MDVIP has achieved throughout our partnership," said Mark deLaar, Managing Director at Summit Partners. "We're delighted to remain involved with the company as it continues to execute on its strategy to innovate and improve the delivery of primary care."

About MDVIP
MDVIP leads the market in membership-based healthcare that goes far beyond concierge medicine services. With a national network of more than 850 primary care physicians serving over 280,000 members, MDVIP is at the forefront of consumer-directed care. MDVIP-affiliated physicians limit the size of their practices, which affords them the time needed to provide patients with highly individualized service and attention, including a comprehensive annual preventive care program and customized wellness plan. Published research shows that the MDVIP model saves the healthcare system millions of dollars through lower hospitalizations and readmissions. For more information, visit www.mdvip.com.

About Leonard Green & Partners, L.P.
Leonard Green & Partners, L.P. ("LGP") is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 80 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail. For more information, please visit www.leonardgreen.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $15 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 460 companies in healthcare, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Notable healthcare investments include ABILITY Network, CareCentrix, DuPage Medical Group, HealthCare Partners, HealthSun Health Plans and Modernizing Medicine. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

With investments in more than a dozen growth-stage businesses in the Minneapolis-St. Paul area, Summit has invested in excess of $700 million in Minnesota over the last decade. Summit Managing Directors Greg Goldfarb and Peter Rottier discuss the appeal of the Twin Cities region with Lee Schafer of the Minnesota Star Tribune and describe how they believe the regional business culture has created a pool of talented managers and entrepreneurs with a durable growth mind-set.

Read the full article at the Minnesota Star Tribune.

ROWLEY, MA and MENLO PARK, CA – Harvey Performance Company (“Harvey”), a leading provider of specialized cutting tools for precision machining applications, today announced a majority investment from global growth equity investor Summit Partners. CEO Pete Jenkins and the Harvey management team remain significant shareholders in the company. The funding will be used to fuel ongoing product development and drive new growth initiatives. Additional terms of the investment were not disclosed.

Founded in 1985, Harvey Performance Company is dedicated to providing world-class products, services and solutions that increase productivity for customers in the manufacturing and metalworking industries, including the aerospace and defense, medical, automotive, industrial motors and telecommunications sectors. The company consists of two complementary brands: Harvey Tool – a broad, one-stop offering for hard-to-find micro-cutting tools – and Helical Solutions – a manufacturer of high-performance custom and standard end mills. The company is recognized as a market leader because of unsurpassed technical expertise and engineering know-how.

This funding comes as Harvey continues on a trajectory of rapid growth, with plans to further accelerate growth through its new partnership with Summit. In 2016, Harvey Tool earned a position on the Inc. 5000 list of America’s fastest-growing private companies, and both Harvey Tool and Helical Solutions were recognized in the 2016 CNC Cookbook End Mill Survey, an industry survey focused on highlighting machinists’ most preferred brands.

“Harvey Performance prides itself on providing best-in-class products and technical service to a diverse and demanding customer base,” said Pete Jenkins, Harvey Performance Company CEO. “We’ve known the Summit team for years, and we appreciate their shared vision for growth. This funding will support our ongoing product innovation efforts and will enable us to maintain our high standards of engineering quality and customer service.”

“We are impressed with Harvey’s innovative, customer-centric culture and remarkable growth. We are thrilled to partner with Pete and the Harvey Performance Company team,” said Jay Pauley, a Managing Director with Summit Partners who has joined the Board of Directors. “The company’s end-market is enormous, and we believe Harvey’s product breadth, differentiated go-to-market strategy and premium technical support model will continue to position the business well for long term success.”

“We have followed Harvey’s expansion closely over the past several years,” said John Carroll, a Managing Director with Summit Partners who has also joined the Harvey Board of Directors. “We admire the company’s uncompromising commitment to its customers and their unrelenting focus on quality.”

Summit was advised by Kirkland & Ellis LLP and Ernst & Young LLP. Harvey Performance Company was advised by Piper Jaffray.

About Harvey Performance Company
Harvey Performance Company strives to offer unique and innovative products to solve the industries’ most challenging machining requirements. Its distinct brands, Harvey Tool and Helical Solutions, serve specialty needs and markets with a shared commitment to delivering high quality products and superior service. The brands offer a broad range of products and services that help support machinists, engineers, and CNC programmers while giving their shops a competitive advantage. Harvey Performance has a proud history of doing business the right way – offering fast and friendly service, providing comprehensive product support, and treating customers, suppliers, and shareholders in a way that builds strategic, strong, and enduring relationships. For more information, visit www.harveyperformance.com.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $15 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 460 companies in healthcare, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Notable industrial technology investments include FineLine Technologies, Parts Town, Grand Design and Welltec. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

By Chris Dean, Summit Partners

We are seeing the same pattern across so many sectors: disruptive new entrants delivering a superior customer experience, taking market share and upending incumbent players. It’s a theme we have seen at scale in media (Netflix challenging cable TV), transportation (Uber reinventing the taxi industry), commerce, (Amazon knocking off Walmart) – the list goes on. The question on my mind – as an investor in and advisor to financial technology and services companies – is this: Why has this trend not taken hold in financial services?

Some may argue that it has. Over the last several years, many new players have entered the financial market. Online lending. Payment processing. Digital advice. New forms of currency. Innovators and entrepreneurs are clearly focused on the sector – and significant amounts of capital have been raised to support these efforts – but these new entrants aren’t achieving the massive success in financial services that we have seen in other industries. While businesses with disruptive technologies in other sectors have been rapidly rewarded by both consumers and investors with valuations that exceed those of the legacy players, we have not seen the same level of success in financial services. You can’t point to ten start-ups that have each grown to a market capitalization in excess of the leading banks or payment processors.

So what’s different? Where is the disruption in financial services? To me, the key differentiator – what makes disruption in this sector more challenging – is the enormous power of brand. Our financial infrastructure is built on a fiat system. 70 or 80 years ago we moved off the gold standard to a system that is predicated on the “full faith and credit” of the government. As a result, consumers need to have a great deal of faith that the financial services company they are working with is capable of safeguarding their savings. The importance of brand is therefore slowing the shift in market share away from – and extending the life of – big incumbent players.

Is this an insurmountable challenge for innovators? I don’t think so. Although consumers “trust” the established brands across the industry, they are not satisfied. Financial services companies have long been ranked among the lowest across the economy on a net promoter score basis. Consumers are looking for the same experience they have in other industries – improved user interfaces, more efficient systems, increased automation, more self-service. They want an alternative to sitting through a two-hour wealth planning session or waiting in line at a bank for thirty minutes to speak with a loan officer about a mortgage. Customers need both a better experience and an implicit level of trust in stability and financial credibility of the business with which they transact. The winners of tomorrow, therefore, are just as likely to be companies that are enabling incumbent players as they are to be businesses who are working to displace them.

At Summit, we are looking for entrepreneurs and management teams that can see both opportunities. Our investment experience includes wealth management businesses, payment solutions and trading platforms – companies like Vestmark, FleetCor, Focus Financial, InvoiceCloud and optionsXpress. We have supported innovation across the sector, committing more than $2 billion in capital to companies in the financial technology and services market. Over the last several years, this sector has emerged as one of the most interesting “battlefields” for innovation, and I look forward to seeing how these battles play out in the coming years. Their work is hard, but I believe we are still in the early innings.

Chris recently spoke to fintech and services experts at Vestigo Ventures about the industry landscape. For more perspective, read the full interview here.

For more information on Summit Partners’ financial technology and services experience see Summit Partners Financial Technology and Summit Partners Financial Services.

Investment Will Accelerate Growth and Innovation for Apple Device Management Leader

MINNEAPOLIS – Jamf, the leader in Apple device management, today announced that it has entered into a definitive agreement to receive a majority investment by Vista Equity Partners (“Vista”), a leading investment firm focused on software, data and technology-enabled businesses. The transaction will allow Jamf to accelerate its growth and innovation through focused investment and strategic acquisitions that drive its mission to help organizations manage Apple devices.

“For fifteen years, Jamf has focused on delivering solutions that empower users with Apple products for businesses, schools and government. This investment by Vista validates what we’ve built: the management standard for the Apple ecosystem,” said Dean Hager, CEO, Jamf. “Enterprises and educators require a solution that provides their IT leaders with confidence and efficiency while preserving and improving upon the legendary Apple experience that users love.”

Jamf joins Vista with strong customer growth and business momentum. The company’s annual recurring revenue (ARR) grew by more than 40 percent in both 2016 and through the first three fiscal quarters of 2017. Nearly doubling its number of customers since the beginning of 2016, Jamf is serving more than 13,000 organizations today, including 8 of the top 10 technology companies and 15 of the top 25 Fortune 500 companies.

“Jamf has played an important role in facilitating Apple’s growth in enterprises and education by providing a powerful solution with an unmatched focus on the customer community,” said Vista Co-Founder and President Brian Sheth. “We are delighted to welcome Jamf into the Vista family and look forward to working with the Jamf leadership team to support their growth.”

The transaction is expected to close in the fourth quarter of 2017. Financial terms have not been disclosed. Goldman Sachs & Co. LLC served as financial advisor to Jamf. Morgan Stanley & Co. LLC and Piper Jaffray & Co. served as financial advisors to Vista. For more information about the partnership, visit www.jamf.it/vista.

About Jamf
Since 2002, Jamf has been focused on helping organizations succeed with Apple. Jamf is committed to enabling IT to empower end users and bring the legendary Apple experience to businesses, education and government organizations via its Jamf Pro and Jamf Now solutions, and the 50,000+ member Jamf Nation community. Today, more than 13,000 global customers rely on Jamf to manage over eight million Apple devices. To learn more, visit www.jamf.com.

About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $30 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspectives. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies’ realization of their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.

Source: Jamf

INDIANAPOLIS — Anthem, Inc. (NYSE:ANTM) today announced that the company has entered into an agreement to acquire HealthSun, one of the fastest-growing integrated Medicare Advantage health plans and healthcare delivery networks in Florida.

“Anthem is committed to identifying opportunities for growth that will enable us to advance our goal of increasing access to healthcare for all consumers, including those who are most vulnerable,” said Joseph R. Swedish, Chairman, President and Chief Executive Officer, Anthem. “The acquisition of HealthSun, which offers a unique integrated care delivery model serving mainly dual-eligible (Medicare and Medicaid) members, fits well with our plans for continued growth in the Medicare Advantage and dual-eligible populations. In addition, the HealthSun acquisition will further the industry leading commitment of Anthem’s affiliated health plans in offering a wide variety of value based care models that benefit our members through high quality care and improved outcomes.”

Founded in 2005, HealthSun has grown rapidly in Florida by offering an integrated Medicare Advantage health plan and healthcare delivery system. HealthSun currently serves approximately 40,000 members through its Medicare Advantage plans in Miami-Dade and Broward counties. HealthSun’s members receive primary care and related services through its integrated network of 19 wholly owned Pasteur and WellMax primary care and specialty centers as well as a complementary network of unaffiliated medical centers, all of which focus on providing the highest quality care. HealthSun was rated by the Centers for Medicare and Medicaid (CMS) as a 4.5 in their Star Ratings for the 2017 and 2018 reimbursement years.

“HealthSun has been recognized for providing superior care coordination and better health outcomes through a network of primary care clinics, pharmacy support, and transportation services; as well as a narrow network of physician specialists and integrated medical cost management,” said Peter D. Haytaian, Executive Vice President, President, Government Business Division, Anthem. “We are excited about the addition of HealthSun as we believe their unique integrated delivery system will be an important asset that drives our continued success in Florida. In addition, this acquisition is consistent with our goal to build industry leading capabilities to serve this country’s most vulnerable citizens. With the addition of HealthSun, Anthem’s affiliated Medicare and Medicaid plans will now serve more than 650,000 members in Florida.”

Anthem is acquiring HealthSun from a consortium of investors led by Summit Partners, a global alternative investment firm. Financial terms of the transaction were not disclosed. The acquisition is expected to close by the end of 2017 and is subject to approvals from state and federal regulatory authorities, standard closing conditions and customary approvals required under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to be slightly accretive to earnings in 2018.

Anthem’s financial advisor is UBS Investment Bank and its legal advisor is White & Case LLP. Centerview Partners LLC and Credit Suisse are acting as financial advisors for HealthSun, Summit Partners and the investor consortium, with Kirkland & Ellis LLP and Epstein Becker and Green, P.C. acting as legal advisors.

About Anthem, Inc.
Anthem is working to transform health care with trusted and caring solutions. Our health plan companies deliver quality products and services that give their members access to the care they need. With over 74 million people served by its affiliated companies, including more than 40 million within its family of health plans, Anthem is one of the nation’s leading health benefits companies.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently investing more than $9.5 billion into growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 440 companies in healthcare, technology, and other growth industries. These companies have completed more than 140 public equity offerings, and more than 165 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

Source: Anthem

Increased investment recognizes the value of RELEX’s bold vision to unify retail’s core operational processes and supports the company’s commitment to 100% customer satisfaction

ATLANTA, GA and HELSINKI, FINLAND — RELEX Solutions, provider of unified retail planning solutions, spanning forecasting, replenishment, space and assortment, and workforce optimization, recently closed a second round of funding from global growth equity investor Summit Partners to support the company’s continued growth. RELEX founders continue to serve in a senior leadership capacity and remain majority owners of the company.

In September 2015, Summit Partners made an initial investment in RELEX, committing capital to support the global expansion of the rapidly growing supply chain solutions provider. In the last two years, RELEX has nearly tripled its revenues, entering the North American market and adding over 90 new customers worldwide including Rossmann, WHSmith, Morrisons, Coop Denmark and AO.com. During this period, the company completed the acquisition of Galleria RTS, a space and optimization software provider, and invested in Zenopt, an advanced workforce optimization solution provider. Each of these products complement RELEX’s existing solutions and position the company well to execute on its vision of delivering unified retail planning solutions that optimize core retail operations.

“Operational excellence – in merchandising, supply chain and store operations – is required for retailers to survive in today’s extremely competitive market,” said Mikko Kärkkäinen, Group CEO of RELEX Solutions. ”Unifying these core operational processes enables retailers to really step up their game. We have, for example, seen our customers reduce out-of-stocks by up to 80% and significantly decrease labor cost in stores by optimizing planograms to enable straight-to-shelf deliveries, minimizing the need for backroom storage.”

“We remain impressed by the company’s continued commitment to customer success during this period of rapid growth,” said Summit Partners Managing Director and RELEX board member, Han Sikkens. “RELEX Solutions delivers rapid, measurable ROI to customers, and we are delighted to continue our partnership with Mikko and his team for this next phase of growth.”

“We are very pleased that Summit Partners has deepened their partnership with us,” said Kärkkäinen. “Together we are working to realize our shared vision: to establish RELEX as the clear leader in the unified retail planning category.”

About RELEX Solutions
RELEX Solutions provides an integrated retail and supply chain planning system that delivers impressive results for customers around the world.

Through precise demand forecasting, automated replenishment, revolutionary space planning and assortment optimization, RELEX helps businesses plan better, sell more and waste less however fast the market changes.

Through our retail expertise and technology, we build strong, enduring, award-winning partnerships with our customers. RELEX’s success is inseparable from theirs.

RELEX Solutions is trusted by leading brands including WHSmith, Morrisons, AO.com, Coop Denmark and Rossmann, and has offices across North America and Europe.

More information: www.relexsolutions.com

About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that is currently investing more than $9.5 billion into growth equity, fixed income and public equity opportunities. Summit has invested in more than 440 companies in technology, healthcare and other growth sectors. These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales. Notable technology companies financed by Summit Partners include Avast, Belkin, Flow Traders, Hyperion Solutions, Infor, McAfee, NetWitness, Postini, RiskIQ, SafeBoot, Sybari Software, Uber and WebEx. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

Source: RELEX Solutions

MENLO PARK, CALIFORNIA — Global growth equity investor Summit Partners today announced the addition of Joe Juliano to the firm’s Executive-in-Residence (“EIR”) program. In this role, Juliano will work closely with Summit’s Technology team to identify new investment opportunities in high-growth enterprise application software companies.

Mr. Juliano joins Summit’s EIR program from IQNavigator, a provider of SaaS technology and services that enable businesses to better source, manage and pay their non-employee and flexible workforces. Juliano joined IQNavigator as President and CEO in 2013 and led the company through a phase of rapid growth and margin expansion. In 2016, Mr. Juliano facilitated the merger of IQNavigator with its largest competitor. Previously, Mr. Juliano was the President of RedPrairie, a provider of supply chain and workforce management software. During his three-year tenure, the company completed six acquisitions, optimized its go-to-market model, and ultimately accelerated organic revenue growth. Prior to RedPrairie, Juliano served as President and CEO of PrimeRevenue and held several sales and operations leadership positions with various application software companies.

“We have been following Joe’s career for several years and have been continually impressed by his collaborative approach to management and his capability to drive growth,” said Summit Managing Director Peter Rottier. “His interests and expertise overlap with our team’s focus, and we are thrilled to partner with him as we seek new opportunities within the application software sector.”

“Summit has a phenomenal reputation and almost two decades of experience effectively leveraging their EIR program,” said Juliano. “I’m incredibly excited to work alongside the Summit team in this role – to participate in the sourcing process from the start and to work with a business post-investment to drive growth and build value.”

“We’re thrilled to welcome Joe to our EIR program,” said Summit Managing Director C.J. Fitzgerald. “He brings a wealth of experience to the role, and we look forward to benefiting from his deep expertise in the enterprise software sector.”

Summit has been active in the software sector for more than three decades. Since the firm’s founding in 1984, Summit has partnered with more than 135 software companies in growth-oriented segments including enterprise, mobile, cloud and SaaS, big data and analytics, infrastructure and security.

Summit’s EIR program is an established and successful element of the firm’s growth-oriented investing strategy. Since its inception in 1999, the program has facilitated collaboration between seasoned industry executives and Summit’s sector teams, working to identify investment opportunities, conduct due diligence, and create and support value creation plans for the companies with which Summit has partnered.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently investing more than $9.5 billion into growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the global economy and has invested in more than 440 companies in technology, healthcare, life sciences and other growth industries. These companies have completed more than 140 public equity offerings, and more than 170 have been acquired through strategic mergers and sales. Notable software and SaaS companies financed by Summit include Avast, Clearwater Analytics, Darktrace, Gainsight, HelpSystems, Hyperion Solutions, Infor, McAfee, Perforce, Telerik, TSheets, WebEx and Visier. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

DOWNERS GROVE, Ill. and LOS ANGELES — DuPage Medical Group, one of the nation’s largest independent, multi-specialty physician groups, announced the closing of a strategic partnership with funds managed by the private equity group of Ares Management, L.P. (NYSE: ARES), the global alternative asset management firm. The investment by Ares will enable continued support for growth initiatives across the entire organization, including DMG’s practice management company, DMG Practice Management Solutions, and DMG’s subsidiary, Boncura Health Solutions. The $1.45 billion transaction closed on August 15, 2017.

Under the terms of the transaction, DMG’s physician group, DuPage Medical Group Ltd., will remain 100% physician-owned-and-directed, and DMG physicians will retain a significant ownership stake in the practice management company. As part of its investment, Ares also acquired Summit Partners’ stake in DMG Practice Management Solutions, and Summit will exit as an investment partner.

“As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led,” said DMG CEO Mike Kasper. “Ares understands and supports our core mission, which is to maintain and enrich our patient-focused, doctor-directed culture. This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG’s growth initiatives, such as population health, expansion into new geographies and additional service offerings. We believe this endeavor will ultimately enhance our ability to reach and treat patients. This is our path forward.”

Mr. Kasper specified that DMG patients should expect to see additional service lines, sites of care and physicians as a result of the partnership. This growth will allow DMG to enhance its integrated outpatient delivery model and further enhance its efforts to provide quality, efficiency and access to patients.

“We are extremely excited to welcome Ares as our partner, as DMG continues to grow to become the best group for all physicians and patients both within the Chicago area as well as nationally,” commented Dr. Paul Merrick, President and Chairman of DMG. "Our partnership with Ares will allow us to maintain our physician-oriented culture and clinical autonomy. More importantly, we are well positioned to expand and enhance our management service offerings and continue providing our patients the highest quality care.”

About DuPage Medical Group
Founded in 1999, DuPage Medical Group is the largest independent, multi-specialty physician group with more than 600 physicians in over 80 suburban Chicago locations. DMG is a patient-centered organization focused on improving access to convenient, quality health care using the latest technology and treatment options. For more information, visit www.dupagemedicalgroup.com.

About Boncura Health Solutions
Since its inception in 2011, Boncura Health Solutions has remained a physician-owned and directed organization aimed at improving patient outcomes, efficiently managing at-risk populations to reduce unnecessary healthcare costs, delivering services in a cost-effective manner, and providing unique and convenient ways for patients, providers, and clients to access key support services. Its expertise allows hospitals and health systems, independent physician groups, and accountable care organizations to provide value-based care through efficient and intelligent administrative and clinical services. Today, Boncura serves more than 5,500 physician providers and partners, managing upwards of 350,000 lives, and processing more than seven million claims annually.

About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $104 billion of assets under management as of June 30, 2017 and more than 15 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com.

Source: DuPage Medical Group

LONDON, UNITED KINGDOM — Summit Partners, a global alternative investment firm, today announced the final closing of its second Europe growth equity fund. The fundraising was launched earlier this year, and the fund exceeded its target and was closed at its hard cap with total commitments of €700 million. Summit Partners Europe Growth Equity Fund II will target equity investments of €20 to €60 million in category-leading companies across Europe, pursuing the growth equity strategy the firm has employed since its inception in 1984. Summit will seek to partner with the exceptional entrepreneurs and management teams who lead these businesses and to deliver post-investment support to accelerate growth and enhance value.

“Over more than three decades as a growth equity investor, Summit has developed deep sector expertise, an extensive global network of relationships, and a track record of supporting the needs of growth companies,” said Peter Y. Chung, Managing Director and Chief Executive Officer of Summit Partners. “With its strong entrepreneurial ecosystem – particularly in the technology, consumer, financial technology and healthcare sectors – Europe has been an integral part of Summit’s global investment strategy since 2000. We are excited to continue our efforts in the region.”

“On behalf of the entire Summit team, we are grateful for the strong support from our existing investors and from those investors who are new to the Firm,” said Han Sikkens, Managing Director and Head of Europe. “We are also appreciative of the trust placed in us by the entrepreneurs and management teams with whom we have partnered over the past 17 years in Europe. We believe this fund is well-suited to support our focus on entrepreneurial growth businesses across Europe.”

Summit’s London-based team of 16 investment professionals works closely and collaboratively with the firm’s 100+ investment professionals worldwide. The team makes both minority and majority investments in growing companies across key industry sectors including technology, healthcare, financial technology and services, consumer and industrial. As board members and through the efforts of the firm’s dedicated portfolio services teams – its Peak Performance Group, Capital Markets Team, Talent & Recruiting Team, and Executive Partner Programs – Summit offers capital, expertise and resources to help category-leading companies accelerate their growth and build businesses of lasting value.

Since its inception in 1984, Summit Partners has managed combined assets of more than $20 billion.

Asante Capital Group LLP acted as exclusive global advisor on the Summit Partners Europe Growth Equity Fund II, and Kirkland & Ellis LLP acted as legal counsel.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm focused on growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the global economy and has invested in more than 440 companies in technology, healthcare, life sciences and other growth industries. These companies have completed more than 140 public equity offerings, and more than 165 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.

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 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

SAN FRANCISCO, CALIFORNIA and CAMBRIDGE, UNITED KINGDOM — Darktrace, the world’s leading machine learning company for cyber security, announced today that it has climbed new commercial highs as its total contract value hits $200 million, an increase of 140% from last year. Much of this growth was driven by outstanding performance in the U.S., where bookings increased threefold.

The leading cyber security firm has raised a $75 million Series D financing round led by Insight Venture Partners, with participation from existing investors Summit Partners, KKR and TenEleven Ventures.

Darktrace is recognized as the de facto leader in disruptive AI technology for cyber security, tackling the challenge of defending against ever more sophisticated cyber-attacks. Powered by machine learning and AI algorithms, Darktrace’s Enterprise Immune System technology is capable of detecting and responding to cyber-threats that evade legacy security controls, containing incidents before damage is done.

The Enterprise Immune System now has over 3,000 deployments worldwide, across all industry sectors, including global financial companies, telecommunications providers, media firms, retailers, healthcare providers, government agencies and critical national infrastructure facilities. The company’s headcount has doubled over the past 12 months, now standing at 500 employees.

Nicole Eagan, CEO at Darktrace, commented, “Insight Venture Partners has a proven record of partnering with tech-focused firms, and its backing of Darktrace is another strong validation of the fundamental and differentiated technology that the Enterprise Immune System represents. It marks another critical milestone for the company as we experience unprecedented growth in the U.S. market and are rapidly expanding across Latin America and Asia Pacific in particular, as organizations are increasingly turning to our AI approach to enhance their resilience to cyber-attackers.”

Jeff Horing, Managing Director at Insight Venture Partners said, “In just four years, Darktrace has established itself as a world leader in AI-powered security. Insight is proud to partner with Darktrace to continue to drive its strong growth and superior product market fit.”

Han Sikkens, Managing Director at Summit Partners said, “Darktrace’s Enterprise Immune System technology is providing visibility and security to leading organizations in all sectors. We are delighted to continue to support Darktrace in its next phase of expansion.”

Stephen Shanley, Principal at KKR, said, “It’s been a tremendous year for Darktrace and we feel privileged to work with such an innovative, talented and driven team building a remarkable company. We are excited to participate in this financing round and look forward to continuing to support Darktrace in the years to come.”

About Darktrace
Darktrace is the world’s leading machine learning company for cyber security. Created by mathematicians from the University of Cambridge, the Enterprise Immune System uses AI algorithms to automatically detect and take action against cyber-threats within all types of networks, including physical, cloud and virtualized networks, as well as IoT and industrial control systems. A self-configuring platform, Darktrace requires no prior set-up, identifying advanced threats in real time, including zero-days, insiders and stealthy, silent attackers. Headquartered in San Francisco and Cambridge, UK, Darktrace has 24 offices worldwide.

Source: Darktrace

MIAMI and NEW YORK – Mi9 Retail, a global supplier of omni-channel retail software, announced today that General Atlantic, a leading global growth equity firm, has made a strategic investment in the company.

General Atlantic will be adding capital to the Mi9 Retail balance sheet to support new initiatives and growth opportunities aimed at better-serving Mi9 Retail customers and their evolving needs. Financial terms of the transaction were not disclosed.

Mi9 Retail is passionate about helping retailers create great experiences for its customers – online, in-store, and on any device. The Company offers an integrated platform that helps retailers across the globe seamlessly manage merchandising, store operations, customer engagement, e-commerce, and business analytics. Mi9 Retail also collaborates with a broad array of third-party service providers that have demonstrated expertise in strategic areas that complement the Company’s solutions and suite of products.

With seven offices around the world and over 300 global customers, the Mi9 Retail platform is used by major retailers and e-commerce providers including Barney’s New York, Christian Dior, Jardiland, Levi Strauss & Co., Little Tikes, London Jewelers, Orchard Supply Hardware, Spencer Gifts, Talbots, and Tea Collection.

“Mi9 Retail is committed to providing innovative technology that drives better business performance and creates great shopping experiences for consumers,” said Neil Moses, Chief Executive Officer of Mi9 Retail. “General Atlantic is joining us as a strategic investor with deep operational expertise in both the software and retail sectors. As we begin our next phase of growth, I believe that our partnership will enable Mi9 Retail to better serve our customers and achieve even greater success.”

“We are excited to work together with Neil Moses, CEO, and Jason Williams, President and CFO, and the entire management team during this exciting and transformative time for Mi9 Retail,” said Preston McKenzie of General Atlantic, who will be joining the company’s Board of Directors. “As retailers continue to deepen their use of technology and data analytics to help manage their operations and growth, Mi9 Retail software has become mission-critical for its customers, delivering a measurable ROI.”

Mi9 Retail has experienced rapid growth as it has successfully built out its modern, comprehensive solution offerings. The Company intends to continue driving its next phase of growth through strategic acquisitions that benefit both current and potential customers.

“The Company’s track-record and explosive growth is a testament to the talented Mi9 Retail leadership team and market-leading omni-channel software,” added David George of General Atlantic, who will also join the Mi9 Retail Board of Directors. “We are excited to support the Mi9 team, their strategic business initiatives, and the Company’s continued expansion into new markets.”

General Atlantic has deep expertise in the Internet & Technology and Retail & Consumer sectors and is currently invested in leading retailers including Grupo Axo, Tory Burch, and Zimmermann, and high growth software companies such as Box, Seismic, SessionM, and Turbonomic.

About Mi9 Retail
Mi9 Retail is passionate about helping retailers create great experiences for our customers—online, in-store, and on any device. We know that great retail experiences happen when optimized inventory management intersects perfectly with well-executed customer engagement strategies to deliver higher customer loyalty, better margins, and a more engaged workforce. Our solutions for merchandise management, digital commerce, and store operations are used by leading retailers across the globe. Mi9 Retail is headquartered in Miami, FL, with operations in North America, Europe and Asia. www.mi9retail.com.

About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic 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 build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com.

Source: Mi9 Retail

BOSTON and SAN FRANCISCO – Thoma Bravo LLC, a leading private equity investment firm, today announced that it has acquired Continuum, a premier global IT management platform for Managed IT Service Providers (MSPs), from Summit Partners. Financial details of the deal were not disclosed.

Continuum, headquartered in Boston, is an international firm that provides MSPs with the platform, services and processes needed to simplify IT management and deliver high quality Remote Monitoring and Management (RMM), backup and disaster recovery and security offerings to small- and medium-sized businesses (SMBs). Its vertically integrated service delivery model combines a SaaS-based technology suite with a best-in-class Network Operations Center (NOC) and Help Desk, and allows MSPs to remotely administer, backup and secure their clients' IT environments from a single screen and to scale quickly and cost-effectively. Continuum employs more than 1,400 professionals worldwide and monitors more than 1 million endpoints for its 5,800 partners, including MSPs servicing more than 60,000 SMB customers.

"Continuum sets the industry standard with its turn-key approach in the Remote Monitoring and Management market for MSPs," said A.J. Rohde, a Partner at Thoma Bravo. "We know this market well, and have followed the company for a long time. What Michael George and his team have delivered on in terms of an innovative product suite and full software and services model has been very impressive, and we can't wait to work with them to accelerate the world-class offering they deliver to MSPs, both organically and through add-on acquisitions."

"The company has a smart and proven business model which solves a well-understood skills gap in the MSP market," added AJ Jangalapalli, a Vice President at Thoma Bravo. "With its strong growth and high customer retention, Continuum is a great fit with the Thoma Bravo portfolio."

"Thoma Bravo is the perfect financial and strategic partner for us at this important stage of our company's growth," said Michael George, CEO at Continuum. "This investment will enable us to continue to capitalize on our core value propositions and increase critical investments in product development as well as sales and marketing tools for our MSP partners to help accelerate their growth. We are incredibly grateful for the partnership and support we have received from Summit Partners, and are confident that Thoma Bravo's operational expertise, knowledge of the space and strategic support will be invaluable to us as we focus ambitiously on our company's future."

The acquisition of Continuum was made through Thoma Bravo's Discover Fund, which debuted in early 2016, and comes on the heels of its acquisition of Riskonnect, an integrated risk management provider, announced last week. The Discover Fund enables Thoma Bravo to expand its investment reach by focusing on growth-oriented technology companies in the lower middle market. Previous Discover Fund investments include Bomgar, a cybersecurity provider; Elemica, a supply chain operating network; Infogix, an analytics company; and T2 Systems, a parking management software firm.

Kirkland & Ellis is serving as counsel for Thoma Bravo. Goldman Sachs and the Carlyle Group provided the debt financing for this transaction. Lazard acted as financial advisor and Goodwin as legal counsel to Continuum.

About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

About Continuum
Continuum empowers managed IT service providers, giving them the technology platform, services and processes they need to simplify IT management and deliver exceptional service to their small and medium-sized clients. Continuum's vertically integrated service delivery model combines an unmatched SaaS-based technology suite with a world-class NOC and Help Desk, allowing them to not only remotely monitor, manage, backup and secure their clients' IT environments from a single pane of glass, but scale rapidly and profitably. Continuum employs more than 1,400 professionals worldwide and monitors more than 1 million endpoints for its 5,800 partners, including MSPs servicing more than 60,000 SMB customers and web hosting providers protecting more than 250,000 servers with Continuum's R1Soft product line. For more information, visit www.continuum.net or www.r1soft.com and follow on LinkedIn and Twitter @FollowContinuum.

Source: Thoma Bravo