Top 10 Investors That Acquire SaaS Companies

It’s 2025, you’re doing $1-5m in ARR, and you’re wondering:

Who might buy my SaaS company?

Founderpath has invested in over 500 software companies and had a front row seat to the top buyers in the space. We’ve seen horror stories, and super quick all cash closings.

If you’re looking to exit, we recommend you talk to one of these 10 buyers:

• SaaS Group
• Camber Partners
• Redbrick
• Ionic Partners
• Polychrome
• Embrace Software
• Constellation Software
• Exa Capital
• Sureswift Capital
• Providence Equity Partners
• Horizen Capital
• Calm Company Fund
• Cache Ventures

SaaS Group

SaaS Group, co-founded by Tim Schumacher, has grown into one of the most active buyers of SaaS brands since its founding in 2017. The company has acquired 20 companies to date, primarily targeting SaaS businesses with annual recurring revenue between $1-10 million. By 2024, SaaS Group had built a portfolio of 20 brands generating over $60 million in annual recurring revenue with a team of approximately 300 people across 30 countries according to Nathan Latka’s interview with Schumacher. 

Schumacher brings significant entrepreneurial experience, having previously co-founded and served as CEO of Sedo.com (a domain marketplace that grew to €130M in revenue and 350 employees). SaaS Group finances acquisitions through a combination of equity and debt, with their initial €10 million coming from the founders and angel investors.

Lead Investor: Tim Schumacher (Co-Founder), https://www.linkedin.com/in/timschumacher/?originalSubdomain=de

Founded: 2017 

Website: saas.group 

Focus: SaaS companies with $1-5M ARR 

Portfolio Companies: 18+ brands with combined $60M ARR up from $3m in 2019.

Total Capital Raised: €10M (initial €5M self-funded, €5M from angel investors) plus debt financing 

Most Recent Deal: Undisclosed 

Funding Source: Privately raised funds composed of equity and debt. The firm recently sold a <10% stake in their GP for $25m valuing the GP at more than $250m. 

How does SaaS Group do deals?

• Most Recent Deal: Undisclosed 
• Typical Acquisition Valuation: Typically between 2x and 4x ARR/Revenue for the all-cash upfront portion. (Can vary significantly based on individual deal components, including earnouts/seller financing).
• Ownership Strategy: Always acquire 100% ownership of portfolio companies. Do not do minority deals.
• Post-Acquisition Growth: Several acquired companies have grown 4x to 5x since acquisition in the last 3 years.
  

How much revenue does SaaS Group look for?

Dashthis: Had an estimated ~$4.2M ARR before acquisition (based on 2600 customers paying $135/month).

Rewardful.com: Grew from $2M ARR to $10M ARR after being acquired. Tim identifies it as potentially the fastest-growing acquired company.

Crosstalent / Zenloop: One of these companies (initially Tim suggested one of “the other two”, then later suggested Rewardful) grew from $2M ARR to $10M ARR after being acquired. (Zenloop had raised over $10M in funding before bankruptcy, but this is not revenue).

Other Companies: Several others have also grown significantly (4x or 5x) since being acquired, but their specific revenue figures were not given.

Interview with SaaS.Group: https://youtu.be/jeta-H0Jwd4

Camber Partners

Camber Partners, founded by Scott Irwin in 2020, is a San Francisco-based growth equity firm specializing in product-led growth (PLG) software companies. The firm differentiates itself by operating like a software company rather than a traditional investment firm, with a team composed of experienced software operators. Camber Partners provides both capital investment and deep operational expertise in marketing, sales, customer success, and data science to help portfolio companies accelerate growth. Their proprietary data platform called Gemini serves as a RevOps engine for portfolio companies to unlock value from customer data.

Lead Investor: Scott Irwin (Founder and Partner), https://www.linkedin.com/in/mscottirwin

Founded: 2020

Website: camber.io

Focus: Product-led growth (PLG) B2B SaaS companies with $3-15M in annual recurring revenue

Portfolio Companies: 10 deals so far including Scout APM, SE Ranking, and Beamer

Total Capital Raised: $100 M (Fund I) + $210 M (Fund II) = $310 M in commitments (AUM $350 M)

Most Recent Deal: Beamer’s acquisition of Userflow valued at more than $60M (February 2024)

Funding Source: Diversified investor base including endowments, foundations, fund of funds, asset management firms, and family offices

How does Camber Partners do deals?

• Most Recent Deal: Beamer acquired Userflow in February 2024 in a deal valued at over $60M
• Typical Acquisition Valuation: Typically invests $10-25 million in deals
• Ownership Strategy: Prefers control investments or majority stakes, with ability to take significant minority positions in $3–10 M ARR companies
• Post-Acquisition Growth: Provides dedicated go-to-market and data science resources to drive sustainable growth, with hands-on engagement from internal Growth team. Scout APM acquired ExceptionTrap and expanded its APM suite. TaxCloud now serves 4,000+ e-commerce businesses. Userflow scaled to 700+ customers under Camber’s backing

How much revenue does Camber Partners look for? Camber prioritizes investment in B2B SaaS businesses with $3-15 million in annual recurring revenue, with a strong preference for Product-Led Growth (PLG) models. The firm invests in only 2-3 companies per year, allowing them to provide focused attention to each portfolio company.

List of acquired companies:

• Scout APM: Received $8M investment from Camber Partners in April 2021. Scout APM helps developers and application administrators gain insight into software performance and subsequently acquired ExceptionTrap.
• SE Ranking: An SEO software company that received investment from Camber (acquisition details not disclosed).
• Beamer: Received a $20M equity investment from Camber Partners in August 2023. Beamer is a no-code product engagement platform that includes changelog, notification center, NPS and roadmap tools with an estimated valuation over $20M. In February 2024, Beamer acquired Userflow, a platform for SaaS companies to manage user onboarding and retention, in a deal valued at more than $60M.

Source links:

• Camber Partners website: https://www.camber.io/
• TechCrunch article on Camber’s fund: https://techcrunch.com/2021/12/13/a-new-growth-equity-outfit-camber-partners-just-raised-100-million-to-buy-stranded-saas-startups/
• Beamer investment announcement: https://www.prnewswire.com/news-releases/beamer-announces-20m-equity-investment-from-camber-partners-to-amplify-its-product-adoption–engagement-toolkit-301903084.html
• Scout APM investment: https://scoutapm.com/blog/scout-apm-exceptiontrap-acquisition

Redbrick

Redbrick, founded by Tobyn Sowden in 2011, has evolved from a marketing services firm into a powerful parent organization that builds, acquires, and supports a portfolio of digital companies focused on empowering entrepreneurs. Based in Victoria, British Columbia, Redbrick operates on a unique shared services model, providing its portfolio companies with centralized marketing, finance, HR, and creative resources while maintaining their individual brand identities. The company has experienced remarkable growth, being named one of Canada’s Top Small and Medium Employers for six consecutive years, and in 2023 surpassed $100 million in annualized revenue with a global team of approximately 200 employees. As a Certified B Corporation, Redbrick demonstrates its commitment to using business as a force for good, balancing profit with purpose across its operations.

Lead Investor: Tobyn Sowden (Founder and CEO), https://www.linkedin.com/in/tobyns

Founded: 2011

Website: rdbrck.com

Focus: Digital tools for entrepreneurs and businesses, including marketing automation, productivity, video creation, and lead generation platforms

Portfolio Companies: Animoto, Delivra, Leadpages, Shift, Rebase, Paved, and Duplex

Total Capital Raised: Not publicly disclosed (privately held company)

Most Recent Deal: Acquisition of Paved, a newsletter advertising platform (March 2025)

Funding Source: Primarily self-funded through organic growth and reinvesting profits from acquisitions

How does Redbrick do deals?

• Most Recent Deal: Acquired Paved, a newsletter advertising platform connecting publishers like NYT, NBC, and Bloomberg with advertisers such as Uber, DoorDash, and Salesforce (March 2025)
• Typical Acquisition Valuation: Not publicly disclosed, but appears to focus on companies with established products that need strategic guidance and shared resources to scale
• Ownership Strategy: Full acquisitions where companies maintain their brand identity but benefit from Redbrick’s shared services and strategic oversight
• Post-Acquisition Growth: Provides strategic guidance, access to shared services (marketing, finance, HR), and resources to accelerate growth while allowing companies to maintain their core identity and team

How much revenue does Redbrick look for? Redbrick acquires established digital businesses with proven products that have potential for further growth through strategic guidance and access to shared resources. While specific revenue requirements aren’t publicly disclosed, they target companies that align with their focus on digital tools for entrepreneurs.

List of acquired companies:

• Animoto: Acquired in August 2023, a cloud-based video creation platform with over 70,000 customers and “millions” of users. This acquisition helped Redbrick surpass $100 million in annualized revenue.
• Delivra: Acquired in 2022, an Indianapolis-based provider of automated email-marketing solutions.
• Leadpages: Acquired in March 2020, a Minneapolis-based no-code platform for building landing pages and websites. Prior to acquisition, Leadpages had raised $38M in funding ($11M Series A in 2014, $27M Series B in 2015) and served over 40,000 small-business marketers and entrepreneurs.
• Shift: A productivity tool developed in-house by Redbrick that helps users manage multiple email accounts and browse more efficiently.
• Paved: Acquired in March 2025, a newsletter advertising platform connecting over 3,000 publishers with a combined 253 million newsletter subscribers to advertisers. Prior to acquisition, Paved had a team of 15 employees which they planned to expand to 50 by the end of 2025.

Source links:

• Redbrick website: https://www.rdbrck.com/
• BetaKit article on Animoto acquisition: https://betakit.com/redbrick-expands-portfolio-with-acquisition-of-video-editing-software-animoto/
• Paved acquisition announcement: https://www.businesswire.com/news/home/20250311092425/en/Redbrick-Acquires-Newsletter-Advertising-Platform-Paved
• Tobyn Sowden interview: https://martechseries.com/mts-insights/interviews/martech-interview-with-tobyn-sowden-ceo-at-redbrick/
• BC Business profile: https://www.bcbusiness.ca/people/tech-science/entrepreneur-of-the-year-2024-tobyn-sowden-redbrick-software-victoria/

Ionic Partners

Ionic Partners is a private equity firm focused on acquiring and transforming “Second Chasm” enterprise software companies – businesses with strong core products and recurring revenue that have hit growth plateaus or are facing operational challenges. Founded in 2020 by Andy Tryba and Donald Park, who bring extensive experience from ESW Capital and Vista Equity Partners respectively, Ionic Partners specializes in transactions requiring speed and certainty, from corporate carve-outs and “end of life” venture investments to entrepreneur-led and family-held operations. The firm employs a unique operating methodology that transforms acquired businesses into modern companies with a cloud-first approach toward product, workflow, and talent, creating extraordinary value through a product-led thesis and infusing world-class operating practices into their portfolio companies.

Lead Investor: Andy Tryba (Co-Founder & CEO), https://www.linkedin.com/in/andytryba/

Founded: 2020

Website: https://ionicpartners.com/

Focus: B2B software companies with $5-50 million in revenue, typically with flat growth (-10% to +20% YoY), over 80% gross revenue retention, and a path to profitability. Ionic targets companies with mission-critical software that serves industries from education and nonprofits to enterprise services.

Portfolio Companies: Current portfolio includes Sparkrock (ERP software for K-12, nonprofits, and government organizations), Edsembli (ERP & SIS solutions for K-12 school boards), and School-Day (payment processing and activities management platform for schools). Previously owned Gigster (software product development platform), which was successfully sold to Virtasant in March 2024.

Total Capital Raised: Not publicly disclosed.

Most Recent Deal: Acquisition of Edsembli (March 2024), a provider of ERP & SIS solutions for K-12 school boards in Canada, which was integrated with their previous acquisition, Sparkrock.

Funding Source: Not publicly specified in detail, though the firm operates as a traditional private equity platform.

How does Ionic Partners do deals?

• Most Recent Deal: Edsembli acquisition (March 2024) – A provider of ERP & SIS solutions for K-12 school boards in Canada that was integrated with Sparkrock to create a more comprehensive offering for educational institutions.
  
• Typical Acquisition Valuation: Not publicly disclosed, though they focus on companies in the $5-50 million revenue range, typically with flat growth, seeking majority sale or full buyout opportunities.
  
• Ownership Strategy: Ionic typically acquires full ownership of its portfolio companies, as evidenced by Andy Tryba often stepping in as CEO of acquired companies (as with both Gigster and Sparkrock). The firm maintains a hands-on operational approach while integrating complementary businesses when strategic.
  
• Post-Acquisition Growth: Ionic’s value creation strategy includes implementing proprietary best practices, focusing on customer success, and pursuing both organic and inorganic growth opportunities. With Gigster, for example, they reconstructed the operational framework, achieved profitability, expanded the employee base globally, and made a strategic acquisition (CodersRank). With Sparkrock, they’ve expanded through acquiring complementary businesses like Edsembli and School-Day.
  

How much revenue does Ionic Partners look for?

Ionic Partners targets software companies with $5-50 million in revenue, the majority of which comes from recurring software sales. They focus on businesses with flat growth (defined as -10% to +20% year-over-year), gross revenue retention greater than 80%, and EBITDA ranging from slightly positive to losing money.

List of acquired companies and their team size, customer count, and/or revenue:

• Sparkrock – Acquired in June 2022, Sparkrock is a provider of ERP software for K-12, nonprofits, and government organizations. Built on Microsoft Business Central, Sparkrock 365 offers finance, workforce management, payroll, and employee scheduling functionality. Specific revenue, team size, and customer count details are not publicly available, though the company has been serving mission-driven organizations in Canada and the US since 2003.
  
• Gigster – Acquired in May 2021 and sold to Virtasant in March 2024, Gigster was a software product development platform with an elastic, globally-connected workforce. Founded in 2014 and previously backed by Andreessen Horowitz and Redpoint Ventures, Gigster had established a strong reputation and roster of blue-chip customers before facing operational and balance sheet challenges. Under Ionic’s ownership, the company was transformed into a profitable business with expanded global employee base and deeper relationships with Fortune 500 clients.
  
• Edsembli – Acquired in March 2024, Edsembli provides ERP & SIS solutions tailored to K-12 school boards across Canada. The company was integrated into Sparkrock after the acquisition to create a more comprehensive offering for the education sector.
  
• School-Day – Acquisition announced in February 2025, School-Day is a payment processing and activities management platform that helps schools and parents manage student payments online.
  

Source links to YouTube interviews or other materials:

• Ionic Partners website: https://ionicpartners.com/
• LinkedIn profile: https://www.linkedin.com/company/ionic-partners
• Andy Tryba’s YEC profile: https://yec.co/members/profile/Andy-Tryba-CEO-Ionic-Partners/c3fb8346-23be-448f-b1fb-4f63b33b8032
• Sparkrock acquisition press release: https://www.prnewswire.com/news-releases/sparkrock-announces-acquisition-by-ionic-partners-301573574.html

Polychrome

Polychrome is an investment firm focused on acquiring majority equity positions in early-stage B2B SaaS businesses, founded in 2020 by three experienced B2B SaaS operators: Matt Althauser, Greg Lazarus, and Alex Boswell. The firm differentiates itself through its hands-on operational approach, where the founders directly work with portfolio companies to implement proven growth frameworks in sales, marketing, and go-to-market strategies. Polychrome specifically targets software companies that have achieved product-market fit but need operational support in GTM execution to reach the next level of growth. Their investment model is flexible, structuring deals as either 50-50 joint ventures where founders remain actively involved, or complete acquisitions when founders prefer to exit entirely. The firm’s operating partners often join portfolio companies directly, working hands-on for 12-18 months to establish growth foundations before gradually stepping back and hiring permanent team members.

Lead Investors: Matt Althauser, Greg Lazarus, and Alex Boswell (Co-Founders and Partners)

• Matt Althauser: https://www.linkedin.com/in/mattalthauser/
• Greg Lazarus: https://www.linkedin.com/in/greglazarus/

Founded: 2020

Website: polychrome.com

Focus: Early-stage B2B SaaS businesses that have achieved product-market fit but need operational support in go-to-market execution

Portfolio Companies: Flagsmith, Browserlist, Checkbox, Terrateam, Shepherd Pro, Marker.io

Total Capital Raised: Initially self-funded with $250,000 from the founders’ personal funds; subsequent funding details not publicly disclosed

Most Recent Deal: Investment in Terrateam (January 2025)

Funding Source: Self-funded by the founding partners, with possible additional capital from undisclosed sources

How does Polychrome do deals?

• Most Recent Deal: Investment in Terrateam, a business productivity software company (January 2025)
• Typical Acquisition Valuation: Not publicly disclosed, but initially structures deals based on growth milestones (as with Flagsmith, where they offered 25% equity for initial investment, with another 25% granted after hitting certain growth targets)
• Ownership Strategy: Either 50-50 joint ventures where founders continue to operate the business (as with Flagsmith and Browserlist) or 100% ownership acquisitions when founders wish to exit (as with Checkbox)
• Post-Acquisition Growth: Founders work directly with portfolio companies for 12-18 months, implementing sales and marketing strategies before hiring permanent team members to fill roles; they aim to achieve significant growth during this initial hands-on period

How much revenue does Polychrome look for? Polychrome targets early-stage B2B SaaS businesses that have already achieved product-market fit. While specific revenue requirements aren’t publicly disclosed, they seek companies that show promise but need operational support to scale properly. Their portfolio companies tend to be smaller SaaS businesses that can benefit from their hands-on GTM expertise.

List of acquired companies:

• Flagsmith: Polychrome’s first portfolio company, an open-source feature flagging platform that helps software development teams release new features. Initially structured as a 50-50 joint venture with founder Ben Rometsch, who remains CEO. Flagsmith grew its revenue by 20x in the first two years after Polychrome’s investment and reported $1.1M in revenue with a 12-person team in 2023.
• Browserlist: A web automation company acquired in June 2021, structured as a 50-50 joint venture. The founder wanted to continue running the business but needed support building a sales organization and marketing strategy.
• Checkbox: A provider of survey software, acquired with 100% ownership in September 2022 when the previous owners wanted to sell. Polychrome sourced this deal through Axial.
• Other Investments: Terrateam, Shepherd Pro, and Marker.io, though detailed information about these investments is limited.

Source links:

• Polychrome website: https://www.polychrome.com/
• Axial article on Polychrome’s strategy: https://www.axial.net/forum/want-to-grow-your-software-business-polychrome-capital-provides-a-tested-roadmap/
• Flagsmith revenue data: https://getlatka.com/companies/flagsmith
• Matt Althauser’s LinkedIn post: https://www.linkedin.com/posts/mattalthauser_haha-this-hacker-news-post-turned-into-a-activity-7112448531231068160-2AXh

Embrace Software Inc.

Embrace Software Inc., founded by Mohan Plakkot in 2020, specializes in acquiring and investing in niche vertical-SaaS and on-premise software businesses that provide industry-specific solutions. The company operates on the principle that enterprise software best practices can be effectively applied to smaller software businesses, providing them with the capital, resources, and expertise needed to accelerate growth and better serve customers. Embrace has rapidly expanded its portfolio across multiple industries, completing over 35 acquisitions to date. The company maintains a unique approach to acquisitions, viewing each deal as a partnership with existing management teams and focusing on companies with mission-critical software solutions that generate between $2-30 million in revenue. Embrace organizes its growing portfolio into specialized divisions, including Industrial Group, Finance Group, and Education Technology, allowing for cross-company synergies and targeted industry expertise.

Lead Investor: Mohan Plakkot (Founder and CEO), https://www.linkedin.com/in/mohan-plakkot-6883253/

Founded: 2020

Website: embracesoftwareinc.com

Focus: Niche vertical-SaaS and on-premise software businesses across diverse industries that provide mission-critical solutions

Portfolio Companies: Over 35 companies including QSTRAT, TESSALink, XAP, Core e-Business Solutions, Northwest Analytics, Guardian Software Systems, AQ2 Technologies, EPOWERdoc, Bellwether Software, Valogix, and Infospeed Limited

Total Capital Raised: $140 million ($130 million disclosed on website), including a $100 million credit commitment from CoVenture announced in December 2021 and a $10 million equity investment announced in 2024 from Singh Capital Partners, R3 Funds, and Jed McCaleb

Most Recent Deal: Acquisition of TESSALink (June 2024) and QSTRAT (November 2024)

Funding Source: Equity investments from notable investors including Singh Capital Partners, R3 Funds, and Jed McCaleb, plus a credit facility with CoVenture

How does Embrace Software do deals?

• Most Recent Deal: TESSALink, a provider of inspection management solutions for the Oil & Gas industry (June 2024), and QSTRAT, a provider of sourcing and quoting solutions for manufacturers and distributors (November 2024)
• Typical Acquisition Valuation: Not publicly disclosed, but focuses on companies with revenues between $2-30 million
• Ownership Strategy: Full acquisitions where existing management teams often continue to operate the business with support from Embrace’s resources and expertise
• Post-Acquisition Growth: Provides portfolio companies with access to capital, technology resources, shared services, and operational expertise to accelerate growth and enhance customer service while maintaining brand identity

How much revenue does Embrace Software look for? Embrace targets companies that offer mission-critical software with revenues ranging from $2-30 million across various industries. They focus on businesses with established customer bases that can benefit from additional capital and expertise to scale operations and improve services.

List of acquired companies:

• QSTRAT: A strategic sourcing and quoting software platform designed for manufacturers and distributors, streamlining supplier collaboration and automating request for quotation processes.
• TESSALink: A provider of inspection management solutions for the Oil & Gas industry, focusing on safety, compliance, and reliability. Their product, CertNet, helps customers digitize inspections and asset management.
• XAP Corporation: A trailblazer in career and college planning software that provides online solutions for students and adults to explore careers and plan for college. XAP’s flagship product, Choices360, supports students from K6 onward.
• Northwest Analytics (NWA): A pioneer in industrial analytics serving 5 of the top 20 chemical manufacturers and 35% of the Forbes 1000 manufacturers.
• AQ2 Technologies: A provider of transaction automation solutions used by over 400 organizations in the financial sector, government, universities, and non-profits to transform paper-based payment processes into streamlined digital workflows.
• Guardian Software Systems: A developer of ERP and MES software solutions designed specifically for the metal casting and foundry industry.
• Core e-Business Solutions: A cloud-based warehouse management software business serving industries such as 3rd party logistics, food, high-tech, cold storage, and pharmaceuticals.

Source links:

• Embrace Software website: https://www.embracesoftwareinc.com/
• Company acquisition news: https://www.embracesoftwareinc.com/news/
• Portfolio companies: https://www.embracesoftwareinc.com/all-companies/
• Funding announcement: https://www.prnewswire.com/news-releases/embrace-software-secures-100-million-in-funding-301439252.html
• TESSALink acquisition: https://www.embracesoftwareinc.com/embrace-expands-its-asset-management-inspection-and-safety-solutions-for-industrial-businesses-with-the-acquisition-of-tessalink/

Valsoft Corporation

Valsoft Corporation, founded in 2015 by Sam Youssef, is a Canadian company specializing in the acquisition and development of vertical market software businesses that provide mission-critical solutions in their respective niches. The company has established itself as a global player with a unique “buy and hold forever” philosophy, differentiating itself from traditional private equity firms by having no predefined investment horizons. Valsoft focuses on building long-term partnerships with existing management teams to create sustainable value through operational excellence and best practices. Their approach emphasizes customer satisfaction as a core business principle, believing that thrilled customers become salespeople and stay loyal. With over 90 software companies acquired across more than 20 industries in 10+ countries, Valsoft has rapidly grown into a significant player in the vertical market software sector, earning recognition for its exponential growth and workplace culture excellence.

Lead Investor: Sam Youssef (Founder and CEO), https://www.linkedin.com/in/samyoussef/

Founded: 2015

Website: valsoftcorp.com

Focus: Vertical market software businesses providing mission-critical solutions across multiple industries

Portfolio Companies: Over 90 companies across 20+ industries including Equinox Information Systems, IDGateway, Asher Group, and dozens more in sectors such as aviation, telecommunications, automotive, dental practice management, industrial ERP, and workforce management

Total Capital Raised: Recently raised US$150 million in growth equity funding led by Portage Capital Solutions, with participation from PROPELR Growth and existing investor Viking Global Investors

Most Recent Deal: Acquisition of Equinox Information Systems (August 2024)

Funding Source: Mix of equity funding from institutional investors and reinvestment of profits from portfolio companies

How does Valsoft do deals?

• Most Recent Deal: Acquisition of Equinox Information Systems, a software provider specializing in fraud management, business assurance, and network monitoring in the telecommunications industry (August 2024)
• Typical Acquisition Valuation: Not publicly disclosed, but focuses on established businesses with significant recurring revenue and strong customer retention
• Ownership Strategy: Complete acquisitions where existing management teams often continue to operate the business with support from Valsoft’s resources and expertise
• Post-Acquisition Growth: Provides portfolio companies with industry best practices, operational expertise, and access to a global network while allowing them to maintain their brand identity and operational autonomy

How much revenue does Valsoft look for? Valsoft targets established software businesses with mission-critical solutions that have achieved strong customer satisfaction and retention. While specific revenue requirements aren’t publicly disclosed, they seek well-established companies with proven business models and growth potential, typically focusing on founder-operated businesses with a high percentage of recurring revenue.

List of acquired companies:

• Equinox Information Systems: Acquired in August 2024, a Nashville-based provider of fraud management, business assurance, and network monitoring solutions for the telecommunications industry. A trusted partner to over 380 telecommunications companies since 1986.
• IDGateway: Acquired in July 2024, a UK-based company providing identity management and background checking solutions to airports and other high-security environments. Their flagship product, AirportGateway (AGW), helps airports transition from manual to automated access control processes.
• Asher Group: Acquired in July 2024, a provider of massively scalable communications for emergency management agencies and human resources solutions. Their platform, Hyper-Reach, enables public safety agencies to communicate with the public across multiple diverse communications platforms.
• Other Portfolio Companies: Valsoft has acquired dozens of other companies across various verticals including automotive, healthcare, industrial, education, and financial services, organizing these into specialized operating divisions to leverage cross-company synergies and expertise.

Source links:

• Valsoft Corporation website: https://www.valsoftcorp.com/
• Equinox acquisition announcement: https://www.valsoftcorp.com/news/acquisition-equinox-information-systems/
• IDGateway acquisition announcement: https://www.valsoftcorp.com/news/valsoft-corporation-acquires-idgateway-aviation/
• Growth equity funding announcement: https://www.valsoftcorp.com/news/valsoft-corporation-vertical-market-software-sector/
• Company portfolio: https://www.valsoftcorp.com/portfolio/

Constellation Software Inc.

Constellation Software Inc. (CSI), founded by Mark Leonard in 1995, is a Canadian company that specializes in acquiring, managing, and growing vertical market software (VMS) businesses that provide mission-critical solutions to specific industries. With a distinctive buy-and-hold-forever strategy, CSI has built an extraordinary track record by focusing on small to medium-sized software companies with stable revenues and high customer retention rates. The company is renowned for its highly decentralized operating model, where acquired businesses maintain their autonomy while gaining access to CSI’s financial resources, best practices, and operational expertise. This approach has allowed CSI to acquire and successfully manage over 500 businesses across more than 75 vertical markets worldwide. Since its IPO in 2006, Constellation has delivered exceptional shareholder returns, with its stock price increasing more than 100-fold, making it one of the most successful software conglomerates globally and establishing Mark Leonard as one of the most respected yet enigmatic business leaders in the technology sector.

Lead Investor: Mark Leonard (Founder and President), no public LinkedIn profile (known for his privacy)

Founded: 1995

Website: csisoftware.com

Focus: Vertical market software companies providing mission-critical solutions across multiple industries in both public and private sectors

Portfolio Companies: Over 500 companies across 75+ vertical markets worldwide, organized under six operating groups: Volaris Group, Harris Computer Systems, Jonas Software, Vela Software, Perseus Group, and Total Specific Solutions (spun off to Topicus.com in 2021)

Total Capital Raised: Publicly traded on Toronto Stock Exchange (TSX: CSU); market cap of approximately $76.1 billion (as of May 2025)

Most Recent Deal: Numerous ongoing acquisitions across operating groups; notable recent acquisitions include Allscripts’ hospital business unit for $700 million (March 2022)

Funding Source: Primarily funded through operating cash flow, with occasional debt financing for larger acquisitions

How does Constellation Software do deals?

• Most Recent Deal: Constellation’s operating groups complete numerous acquisitions annually, with the company having been named the top volume acquirer of software companies, completing 32+ deals in a single year
• Typical Acquisition Valuation: Typically acquires companies for less than $5 million, often applying multiples of approximately 0.8 times annual revenue for smaller VMS enterprises
• Ownership Strategy: Buys and holds companies indefinitely (never sells), allowing acquired businesses to maintain their brand identity and operational autonomy within CSI’s decentralized structure
• Post-Acquisition Growth: Employs a unique decentralized approach where capital allocation decisions are pushed down to the operating level, enabling portfolio managers and business unit leaders to drive growth through their own acquisition initiatives while implementing best practices learned from the broader CSI network

How much revenue does Constellation Software look for? Constellation typically targets vertical market software companies with a minimum of $1 million in earnings before interest and taxes, consistent earnings, and growth (generally EBITDA/revenue + revenue growth of 20% or more per year). They look for businesses with high retention rates due to the mission-critical nature of their software solutions, preferring founder-led companies with strong cultures and customer relationships.

List of acquired companies: Constellation’s portfolio comprises over 500 companies across its six operating groups, including:

• Volaris Group: Includes over 200 businesses across 40+ vertical markets in 50+ countries, including BiblioCommons (library software), SoftLink International (school and special library systems), and Prima Informática (library automation systems for Portuguese and Spanish-speaking markets)
• Harris Computer Systems: Provides software for various industries, including utilities, healthcare, and local government, with acquisitions like Jaywil Software Development and ResourceMate
• Jonas Software: Manages approximately 140 companies across 40+ verticals, primarily in hospitality and construction sectors across North America, Europe, South America, Australia, and New Zealand
• Vela Software: Operates 8 divisions, primarily focused on the industrial sector, including oil and gas and manufacturing
• Perseus Group: Operates 56 companies across diverse industries, including home building, pulp and paper, dealerships, finance, healthcare, digital marketing, and real estate
• Total Specific Solutions: Focus was on software companies in the UK and Europe before being spun off to Topicus.com in January 2021

Source links:

• Constellation Software website: https://www.csisoftware.com/
• Wikipedia page: https://en.wikipedia.org/wiki/Constellation_Software
• Mark Leonard profile: https://quartr.com/insights/business-philosophy/mark-leonard-the-mysterious-brain-behind-constellation-software
• Perseus Group information: https://csiperseus.com/about-csi/
• Volaris Group information: https://www.volarisgroup.com/about/

EXA Capital

EXA Capital, founded by Omer Sajid in 2020, is a strategic investment firm focused on acquiring, building, and growing vertical market software businesses with a unique “buy and hold forever” philosophy. Unlike traditional private equity or venture capital firms, EXA takes a permanent ownership approach, giving acquired companies the freedom to maintain their autonomy while providing guidance and support to scale their operations. The company employs a partnership-driven approach, working collaboratively with existing management teams to drive superior operating results and innovation. All portfolio companies are integrated into EXA’s proprietary operating platform that helps measure and improve performance through benchmarking exercises and operational metrics. This model allows EXA to preserve the legacy and identity of acquired businesses while providing them with access to capital for product innovation, geographic expansion, and strategic initiatives that drive sustainable long-term growth.

Lead Investor: Omer Sajid (Founder and CEO), https://www.linkedin.com/in/omersajid/

Founded: 2020

Website: exacapital.co

Focus: Vertical market software companies providing mission-critical enterprise solutions across various industries

Portfolio Companies: Forward Advantage, PrecisionCare, Prista Corporation, MTW Solutions, TeamEDA, Nomos One, and others

Total Capital Raised: Not publicly disclosed

Most Recent Deal: Acquisition of PrecisionCare (February 2025)

Funding Source: Not publicly disclosed, likely a combination of private capital and potentially institutional investors

How does EXA Capital do deals?

• Most Recent Deal: Acquisition of PrecisionCare, a SaaS platform specializing in electronic health records (EHR) and care management solutions for the behavioral health and long-term care industries (February 2025)
• Typical Acquisition Valuation: Not publicly disclosed
• Ownership Strategy: Complete acquisitions where existing management teams often continue to operate their businesses with autonomy under EXA’s decentralized model, focusing on preserving brand identity and corporate culture
• Post-Acquisition Growth: Provides portfolio companies with access to EXA’s enterprise support group (including finance, marketing, HR, and IT resources), capital for growth initiatives, and strategic guidance while preserving operational independence

How much revenue does EXA Capital look for? While specific revenue requirements aren’t publicly disclosed, EXA targets established software businesses that provide mission-critical solutions to their clients and have strong growth potential. Based on their portfolio, they appear to focus on companies with proven business models and solid customer bases across various verticals.

List of acquired companies:

• PrecisionCare: Acquired in February 2025, a New York-based provider of electronic health records (EHR) and care management solutions for the behavioral health and long-term care industries.
• Nomos One: Acquired in July 2024, a New Zealand-based company offering lease management and lease accounting SaaS solutions, serving global customers across various industries and lease portfolio sizes.
• MTW Solutions: A specialized software provider for state government agencies across the US, focusing on grant management software solutions.
• Prista Corporation: Acquired in December 2023, developer of ActionCue CI, a SaaS clinical intelligence platform for quality assurance for hospitals and healthcare organizations.
• Forward Advantage: A leading HealthTech solutions provider for the healthcare industry.
• TeamEDA: Based in Manchester, New Hampshire, maker of LAM and LAMUM software solutions.

Source links:

1. EXA Capital website: https://exacapital.co/
2. PrecisionCare acquisition announcement: https://www.businesswire.com/news/home/20250224038304/en/EXA-Capital-Acquires-PrecisionCare
3. Nomos One acquisition announcement: https://www.businesswire.com/news/home/20240716606675/en/EXA-Capital-Acquires-Nomos-One
4. Prista acquisition announcement: https://www.businesswire.com/news/home/20231212278725/en/EXA-Capital-Acquires-Prista-Corp

SureSwift Capital

SureSwift Capital, founded by Don Wharton in 2015 in Victoria, British Columbia, has established itself as a prominent serial acquirer of profitable bootstrapped SaaS businesses. The company focuses on acquiring, managing, and accelerating the growth of B2B SaaS businesses from independent founders, taking them to the next stage of development while providing exceptional value to customers and strong returns to investors.

Under the leadership of CEO James DeGreef, who took the permanent position in 2022, SureSwift has refined its acquisition strategy and operational framework. DeGreef brings significant entrepreneurial experience, having previously founded and led GenoLogics to a successful acquisition. His background as an angel investor and LP in several VC funds provides him with valuable insights for navigating SureSwift’s evolving portfolio.

Lead Investor: James DeGreef (CEO), https://www.linkedin.com/in/jamesdegreef/

Founded: 2015

Website: https://www.sureswiftcapital.com/

Focus: B2B SaaS businesses with $1-5M ARR, particularly bootstrapped SaaS applications (BSAs) with consistent, non-concentrated revenue streams, attractive operating margins (around 50%), and low profit multiples.

Portfolio Companies: Over 40 acquired businesses to date, with current notable companies including Ghost Inspector, Vitay, MeetEdgar, LeadDyno, and Storemapper. The company recently launched Fund C in 2024 after a two-year acquisition hiatus.

Total Capital Raised: SureSwift operates three funds (Fund A, Fund B, and the new Fund C). The company doesn’t publicly disclose total capital raised but focuses on providing investors with monthly distributions of cash flow.

Most Recent Deal: Ghost Inspector (acquired July 12, 2022) – a complete end-to-end testing solution that helps businesses catch bugs in their websites and web applications without requiring coding expertise.

Funding Source: Private equity capital along with investor funds. SureSwift provides investors access to monthly profit distributions through their unique business model.

How does SureSwift Capital do deals?

• Most Recent Deal: Ghost Inspector (July 2022), which was founded by Justin Klemm in 2014 and grew to establish a strong customer base before being acquired.
  
• Typical Acquisition Valuation: SureSwift typically acquires companies at 3-5x TTM (trailing twelve months) profit multiples. They focus on businesses with consistent revenue patterns and strong operating margins.
  
• Ownership Strategy: SureSwift acquires 100% ownership of portfolio companies, pursuing a “buy and hold” approach that allows for long-term growth and profitability. The company does not take a traditional PE approach of quick flips; instead, they operate businesses for sustained growth.
  
• Post-Acquisition Growth: SureSwift implements its “Exceptional Operator Framework” to drive growth and efficiency in acquired companies. They focus on retaining and supporting existing teams while bringing additional resources and expertise. For example, Back in Stock (acquired in 2018) saw its customer base grow by 300% and revenue scale to over $4.5M before being sold to AMP in March 2025.
  

How much revenue does SureSwift look for?

SureSwift’s current acquisition focus is on B2B SaaS businesses with approximately $1-5M ARR. Historically, they began with smaller acquisitions and gradually moved upmarket. Their Fund C now targets slightly larger businesses than previous funds. They look for companies with:

• Consistent, non-concentrated revenue streams
• Attractive operating margins (approximately 50%)
• Low profit multiples (3-5x TTM profit)
• Remote-first or hybrid team structures that can integrate into SureSwift’s operational model

Notable Portfolio Companies:

• Back in Stock: Grew customer base by 300% and scaled revenue to over $4.5M after its 2018 acquisition, before being sold to AMP (Australian-based eCommerce platform) in March 2025.
  
• Ghost Inspector: A complete end-to-end testing solution for websites and web applications, acquired in July 2022. The company had strong customer reviews on G-2 and Capterra before acquisition.
  
• MeetEdgar: Social media application acquired in January 2022.
  
• Vitay: A SaaS solution that automates the reference checking process for HR leaders and recruiters.
  

SureSwift Capital currently operates 13 core businesses across three funds, with a global, remote-first team spread across multiple countries. The company has an estimated annual revenue of $5-25M and reportedly employs between 100-250 people.

Source Links:

• Dan Martell’s interview with Kevin McArdle (former CEO): https://www.danmartell.com/kevin-mcardle-sureswift-capital/
  
• Indie Hackers podcast with Kevin McArdle: https://www.indiehackers.com/podcast/031-kevin-mcardle-of-sureswift-capital
  
• Inspired Insider podcast with Kevin McArdle: https://www.inspiredinsider.com/kevin-mcardle-interview/
  
• “Let’s Buy a Business” podcast featuring Kevin McArdle on buying 39 companies in 5 years: https://podcasts.apple.com/us/podcast/kevin-mcardle-sureswift-capital-how-to-buy-39-companies/id1506985601?i=1000515914182
  
• Startup Acquisition Stories interview with Kevin McArdle: https://blog.acquire.com/startup-acquisition-episode-18/
  

Providence Equity Partners

Providence Equity Partners, founded by Jonathan M. Nelson in 1989, is a leading private equity investment firm specializing in media, communications, education, and technology investments across North America and Europe. With its headquarters in Providence, Rhode Island and additional offices in New York, London, Boston, and Atlanta, the firm has established itself as a pioneer in sector-focused private equity investing.

Providence focuses on growth-oriented investments in middle-market companies, typically targeting businesses with enterprise values under $1.5 billion, although they will opportunistically invest in larger companies when the transaction dynamics meet their investment criteria. The firm has a collaborative approach to investing, working closely with management teams to create enduring value.

Lead Investor: Jonathan M. Nelson (Founder and Chairman), https://www.linkedin.com/in/jonathannelsonprovidence/

Founded: 1989

Website: https://www.provequity.com/

Focus: Growth-oriented media, communications, education, and technology companies across North America and Europe. Providence targets equity investments of $150-500 million and employs various financing structures, preferring to lead investments, serve on company boards, and work collaboratively with management.

Portfolio Companies: Providence has invested in more than 175 companies globally since its inception. Current notable portfolio companies include Ambassador Theatre Group, Tenstreet (SaaS HR solutions for trucking carriers), Marlink (satellite connectivity provider), Modern Campus (higher education software solutions), Topgolf, and Worldwide Express/GlobalTranz (logistics solutions).

Total Capital Raised: Providence manages funds with over $36 billion in aggregate private equity capital commitments as of December 2023. The firm’s eighth fund, Providence Equity Partners VIII, closed on $6 billion in 2019, exceeding its $5 billion target.

Most Recent Deals: Recent investments include the acquisition of VivaGym (April 2024), investment in Brandt Information Services (June 2024), and ATG Entertainment’s acquisition of SOM Produce (January 2025). In June 2024, KKR acquired Superstruct Entertainment from Providence in a reported $1.4 billion deal.

Funding Source: Providence raises investment funds from a broad array of institutional investors, including pension funds, endowments, sovereign wealth funds, financial institutions, insurance companies, fund of funds, and high-net-worth individuals.

How does Providence Equity Partners do deals?

• Most Recent Deal: Brandt Information Services, a provider of outdoor recreation management software (June 2024).
  
• Typical Acquisition Approach: Providence targets middle-market companies with strong growth potential where they can leverage their sector expertise. They generally invest in companies with enterprise values under $1.5 billion, though they will opportunistically pursue larger deals that fit their investment criteria.
  
• Ownership Strategy: Providence prefers to be the lead investor, taking significant ownership positions that allow them to be active partners in driving growth and value creation. They typically serve on company boards and work collaboratively with management teams.
  
• Post-Acquisition Growth: The firm employs a value creation strategy focused primarily on organic and inorganic growth rather than cost-cutting and restructuring. In their most recent fully invested strategy, they completed over 150 acquisitions across 20 portfolio companies, demonstrating their commitment to build-and-grow strategies.
  

Investment Criteria and Strategy:

Providence seeks to invest in companies that present strong organic and inorganic growth opportunities. They view relationships with management teams as true partnerships oriented around building value and creating enduring franchises. Their approach combines deep sector knowledge with robust value creation capabilities and a collaborative spirit.

The firm provides portfolio companies with access to resources that help meet growth objectives, including a dedicated team of portfolio operations professionals who assist with initiatives such as market research, pricing optimization, sales force organization, acquisition integration, and cyber risk assessments.

In 2014, Providence established Providence Strategic Growth (PSG), its growth equity affiliate focused on investments in lower middle market software and technology-enabled service companies. PSG is headquartered in Boston with additional offices in London and Kansas City.

Leadership Structure:

In September 2020, Providence announced a leadership transition plan, under which founder Jonathan M. Nelson stepped down as CEO to become Executive Chairman in January 2021. Nelson now serves as Chairman of Providence while also co-founding and chairing Dynasty Equity.

The firm’s leadership team includes senior managing directors who oversee the firm’s activities in North America and Europe. In 2024, Providence announced several promotions, demonstrating its continued investment in talent development and organizational growth.

Source Links:

• Providence Equity Partners official website: https://www.provequity.com/
  
• Providence Equity Partners LinkedIn profile: https://www.linkedin.com/company/providence-equity-partners/
  
• Jonathan M. Nelson’s profile at Dynasty Equity: https://dynastyequity.com/bio/jonathan-m-nelson/
  
• Mergr profile of Providence Equity Partners’ M&A activity: https://mergr.com/investor/providence-equity-partners
  

HoriZen Capital

HoriZen Capital, founded by Akeel Jabber in 2019, is a specialized private equity group focused on investing in, growing, and exiting B2B SaaS companies. Based in Edmonton, Canada, the firm combines operational expertise with financial acumen to identify and scale under-developed B2B SaaS businesses with significant growth potential. The name “HoriZen” symbolizes the company’s dual approach: making decisions with a long-term horizon while maintaining confidence in creating immediate impact on the bottom line. Unlike traditional venture capital, HoriZen Capital targets profitable SaaS companies with established revenue streams rather than early-stage startups, leveraging their team’s expertise in growth marketing, financial structuring, and M&A to maximize valuation and generate superior returns.

Lead Investor: Akeel Jabber (Investment Director and GP), https://www.linkedin.com/in/akeel-jabbar/

Founded: 2019

Website: https://horizencapital.com/

Focus: B2B SaaS companies with $1-5 million ARR that are profitable or have a clear path to profitability.

Portfolio Companies: SocialTools (organic outreach platform), various impact tech companies in biotech, digital marketing, and reservation platform spaces.

Total Capital Raised: Raising a $25 million tech fund to invest directly into up to 7 software companies.

Most Recent Deal: Not publicly detailed.

Funding Source: Network of investors including successful entrepreneurs, high-net-worth individuals, bankers, and family offices.

How does HoriZen Capital do deals?

• Most Recent Deal: Not publicly detailed.
• Typical Acquisition Valuation: Competitive market valuations focusing on profitable companies rather than overvalued high-growth tech companies.
• Ownership Strategy: Acquires majority stakes in SaaS companies, providing an exit to founders while allowing them to retain some equity to benefit from future growth.
• Post-Acquisition Growth: Employs a growth playbook focused on SEO, scaling paid ad campaigns, improving conversions, optimizing pricing, and enhancing marketing ROI. The firm has reportedly grown companies’ profits by over 100% within 5 months of acquisition.

How much revenue does HoriZen Capital look for? The firm targets B2B SaaS companies generating between $1-5 million ARR with modest growth (10-40% year-on-year) and good operational metrics (less than 3% monthly churn).

List of acquired companies and their team size, customer count, and/or revenue:

• SocialTools – Details on team size, customer count, and revenue not publicly available. The company focuses on providing organic results for clients through a proprietary outreach system to build white hat, high-quality links for clients’ websites.
• 99 Dollar Social – Previously led by Akeel Jabber before being exited. Details on team size, customer count, and revenue not publicly available.

Source links to YouTube interviews or other materials:

• Startup Acquisition Stories interview with Akeel Jabber: https://blog.acquire.com/startup-acquisition-episode-27/
• HoriZen Capital’s SaaS District podcast: https://horizencapital.com/ (specific podcast URL not available)

Calm Company Fund

Calm Company Fund (formerly Earnest Capital) is an early-stage investment firm focused on funding, mentoring, and supporting founders building profitable, sustainable “calm” businesses that prioritize long-term growth over high-risk scaling strategies. Founded by Tyler Tringas in 2019, the fund has pioneered a unique approach to early-stage investing through its innovative Shared Earnings Agreement (SEAL) structure, which allows founders to maintain full control while aligning investor interests with the company’s profitability. With approximately $20 million in assets under management across three funds, Calm Company Fund has invested in over 70 companies and built a community of 150+ experienced software founders who serve as mentors, creating an ecosystem that emphasizes sustainable growth over the traditional venture capital “grow at all costs” model.

Lead Investor: Tyler Tringas (Founder and General Partner), https://www.linkedin.com/in/tringastyler/

Founded: 2019

Website: https://calmfund.com/

Focus: Early-stage software and software-enabled businesses that aim to be profitable and sustainable rather than pursuing the traditional venture capital path.

Portfolio Companies: 70+ companies including Economize (cloud cost platform), Alitu (podcast publishing service), Pulse360, Junglebee, Instatus, and numerous other SaaS and software-enabled businesses.

Total Capital Raised: Approximately $20 million across three funds, with Fund III launched in 2021 at $10 million.

Most Recent Deal: Not publicly specified, but the fund actively invests in companies that align with their “calm company” thesis.

Funding Source: A mix of institutional investors, experienced software founders, and recently crowdfunding through a Wefunder campaign that opened up a 10% share of the management company’s equity.

How does Calm Company Fund do deals?

• Most Recent Deal: Information not available on specific recent deals.
• Typical Acquisition Valuation: The fund focuses on early-stage investments rather than acquisitions, investing through their Shared Earnings Agreement (SEAL) structure.
• Ownership Strategy: Rather than taking traditional equity, Calm Company Fund uses a Shared Earnings Agreement (SEAL) that entitles them to receive a percentage of “Founder Earnings” once those earnings exceed an agreed-upon threshold. This approach allows founders to maintain 100% ownership and control of their companies.
• Post-Investment Growth: The fund provides mentorship, community support, and resources to help portfolio companies grow sustainably. They specifically avoid pressuring companies to raise additional funding or pursue exits, though those options remain available if founders choose that path.

How much revenue does Calm Company Fund look for? Calm Company Fund invests in early-stage companies, often before they have significant revenue. According to their five-year review, they’ve found that many portfolio companies have struggled to break past the $20-50k monthly recurring revenue (MRR) range, though their thesis anticipated most SaaS businesses in this range would eventually breach $1M annual recurring revenue (ARR).

List of acquired companies and their team size, customer count, and/or revenue: Since Calm Company Fund is an investor rather than an acquirer, they don’t have “acquired companies.” However, their portfolio has seen notable exits:

• Makerpad (acquired by Zapier) – No-code education platform and community
• EnjoyHQ (acquired by UserZoom) – Customer research repository

Source links to YouTube interviews or other materials:

• Founders Forward Podcast interview with Tyler Tringas: https://visible.vc/blog/tyler-tringas-ff/
• RBF Network Podcast with Tyler Tringas: https://www.linkedin.com/posts/keithharringtonkansas_capitalentrepreneur-entrepreneur-alternativecapital-activity-7125513581399330818-Fl0h
• Calm Company Fund’s Shared Earnings Agreement explained: https://calmfund.com/shared-earnings-agreement
• Five years in review by Tyler Tringas: https://calmfund.com/writing/five-years

Cache Ventures

Cache Ventures is a bootstrapped venture studio founded in 2013 that builds, advises, and invests in SaaS companies with a focus on acquiring and managing digital assets across multiple verticals. Co-founded by Sean Heilweil and Jarrett Lusso, the firm began by building and launching their first company, Exit Monitor, which was acquired in 2016 by Kaleidoscope Global. This successful exit inspired them to take a non-traditional route, establishing Cache Ventures as an organization aimed at repeatedly building new ideas and scaling SaaS companies “from zero to seven figures very quickly.” In 2020, they partnered with 360 Family Office to launch a private equity fund, enabling them to expand their reach, accelerate growth, and move at a faster pace.

Lead Investor: Sean Heilweil (Co-Founder & CEO), https://www.linkedin.com/in/seanheilweil/

Founded: 2013

Website: https://cacheventures.com/

Focus: SaaS companies, particularly in areas such as email verification, lead generation, and digital marketing tools.

Portfolio Companies: Emailable (formerly Blaze Verify and TheChecker), LeadOwl, Sur, myurls, Parse Sites, and Sticky Menus.

Total Capital Raised: Not publicly disclosed in specific terms, though they partnered with 360 Family Office in 2020 to launch a private equity fund.

Most Recent Deal: Cache Ventures acquired TheChecker in January 2021, which was later merged with their existing portfolio company Blaze Verify and rebranded as Emailable in March 2021.

Funding Source: Initially self-funded by the founders, with later investments through their partnership with 360 Family Office, a family office that provides capital, manages investments, and offers advisory services.

How does Cache Ventures do deals?

• Most Recent Deal: TheChecker acquisition (January 2021) – an email verification software company that was merged with Blaze Verify and rebranded as Emailable.
  
• Typical Acquisition Valuation: Not publicly disclosed, but the company focuses on “acquiring and managing assets across multiple verticals” with an emphasis on partnering with management teams to “restore and build fundamental value over an indefinite time horizon.”
  
• Ownership Strategy: Cache Ventures typically acquires companies and integrates them with their existing infrastructure, while often keeping the original management team involved. In the case of LeadOwl, they partnered with the existing management team led by Kitty Kellman to expand product capabilities and fuel sales growth.
  
• Post-Acquisition Growth: The firm leverages their existing infrastructure and resources to help portfolio companies realize their full potential. For example, after acquiring TheChecker, they worked to consolidate its infrastructure and customer base with Blaze Verify, offering enhanced performance and additional products to customers.
  

How much revenue does Cache Ventures look for?

According to RocketReach data, Cache Ventures itself has approximately $10.6 million in revenue with 14 employees. While they don’t publicly specify revenue requirements for acquisition targets, their history suggests they focus on early-stage SaaS companies with growth potential. Sean Heilweil has noted that they have “a history of scaling SaaS companies from zero to seven figures very quickly.”

List of acquired companies and their team size, customer count, and/or revenue:

• Emailable (formerly Blaze Verify and TheChecker) – An email verification service formed through the merger of two acquired companies. TheChecker was acquired in January 2021 and merged with existing portfolio company Blaze Verify. Specific revenue, team size, and customer count figures are not publicly available.
  
• LeadOwl – Acquired in April 2020, LeadOwl is a sales and lead generation tool that allows users to manage digital marketing clients and sales teams from mobile devices. It operates in the $100 billion B2B lead generation market. Specific revenue, team size, and customer count figures are not publicly available.
  
• Sur – Another portfolio company mentioned by Sean Heilweil, though details about its acquisition, business model, team size, and revenue are not readily available.
  
• myurls – A portfolio company co-founded by Sean Heilweil in December 2018. Specific details about its business model, team size, and revenue are not publicly available.
  

Source links to YouTube interviews or other materials:

• Cache Ventures website: https://cacheventures.com/
• Press release about Fund Launch and LeadOwl acquisition: https://cacheventures.com/press/cache-ventures-launches-tech-fund-and-acquires-leadowl/
• Press release about TheChecker acquisition: https://cacheventures.com/press/thechecker-email-verification-software-acquired-by-cache-ventures/
• Sean Heilweil on Intro.co: https://intro.co/SeanHeilweil