Fulcrum Equity Partners Successfully Exits SaaSOptics to Battery Ventures

Share Article

After three years of significant growth with Fulcrum Equity Partners, SaaSOptics exits to Battery Ventures.

Fulcrum Equity Partners has announced the successful sale of their holdings in SaaSOptics, a leading B2B subscription management platform, to Battery Ventures, a technology-focused investment firm.

Battery Ventures led a combined majority growth-equity investment of more than $150 million in SaaSOptics and Chargify, two complementary cloud-based platforms that together manage more than $10 billion in customer annual recurring revenue. This combination creates a financial solutions powerhouse serving the growing universe of industries that are shifting to a subscription-based model.

“We launched SaaSOptics to fill a clear market devoid of financial systems specifically designed to address the unique requirements of subscription businesses” says Alston Gardner, Fulcrum Co-Founder and Venture Partner that was an initial angel investor in the Company.

“SaaSOptics has grown significantly since our Fund’s initial investment in 2018,” says Fulcrum Partner Philip Lewis. “Their platform has the unique advantage of allowing other SaaS companies to optimize their financial operations, leading to streamlined and accurate reporting.”

“We could not have gotten to this point without the support and insight offered by the team at Fulcrum,” according to SaaSOptics CEO Tim McCormick. “Their partnership enabled SaaSOptics to elevate and expand our business and product offering at critical moments in our growth.”

Indeed, SaaSOptics’ business has proved innovative time and time again, garnering both local and national recognition and awards such as the Inc. 5000 for three years running and TAG’s Top 40 Innovative Georgia Companies. Their platform simplifies the order-to-revenue process and automates revenue recognition, invoicing and payments, and subscription analytics and metrics with an unparalleled product experience.

“We are thrilled to forge the next step in our growth with Battery Ventures,” says Chris Weber, SaaS Optics COO. “Our combined vision to build a leading financial operations platform along with Battery’s wealth of experience in growing financial-technology companies will drive an increased value proposition for our customers.”

“It has been a pleasure working with the team at SaaSOptics for the past three years,” says Jeff Muir, a Partner at Fulcrum. “They have worked hard to balance their consistent growth with their commitment to excellence. We are confident in the future success of this strategic combination.”

About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $600 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum’s initial target investment is $5 million - $25 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum’s target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum’s limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.

About SaaSOptics
SaaSOptics is a subscription management platform that automates financial operations for growing B2B SaaS businesses. A cloud-based solution, the SaaSOptics platform allows businesses to pull accurate SaaS metrics and analytics quickly, scale billing and payments smoothly and automate GAAP/IFRS-compliant revenue recognition. Businesses built on SaaSOptics eliminate their risky dependency on spreadsheets and streamline financial operations. SaaSOptics is easy to use, trusted by investors, within reach for early-stage startups and provides a streamlined implementation process.

About Chargify
Founded in 2009, Chargify has helped thousands of businesses manage millions of offers that drive billions in annual revenue. Chargify removes billing bottlenecks and gives front, corner, and back-office teams the speed and flexibility to grow faster.

Over the past decade, Chargify has continued to expand its offerings to address the complexities of the entire subscription lifecycle: recurring billing, subscription management, revenue retention, prepaid subscriptions, revenue operations, and events-based billing. The company has headquarters in San Antonio, Texas and Dublin, Ireland. Learn more about Chargify at http://www.chargify.com.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Peter Franconi
Follow >
Visit website