SAN FRANCISCO (PRWEB) January 29, 2020
Mainsail Partners today announced the sale of Ncontracts, a leading provider of integrated risk management software for financial institutions, to Gryphon Investors. Mainsail invested in the company in 2015 and helped the company to achieve consistent growth over the past 5 years, including being named to the Inc. 5000, Inc. Magazine’s annual list of America’s fastest growing privately held companies in 2019.
Ncontracts was founded in 2009, by Michael Berman, as a vendor management solution serving banks and credit unions. Through several strategic acquisitions and accelerated product development, the company built a product suite that now serves as an enterprise risk management solution which helps financial institutions manage the ever-changing landscape of regulation, compliance and security. Berman bootstrapped the company up until Mainsail invested in the business.
“I’m appreciative of all the support Mainsail provided, both strategic and tactical, to help us get to this point,” said Michael Berman, Founder and CEO. “The Mainsail team felt like an extension of our team, adding value in numerous ways, including help with executive hiring, operational support and strategic decision-making. Looking forward, I am excited about our next phase of growth and providing even more value to our clients.”
“Michael and the rest of the management team at Ncontracts have been incredible partners,” said Jason Payne, Co-founder of Mainsail Partners. “The team’s laser focus on the customer and intimate knowledge of the market were foundational to the success of the company. We are pleased to have been able to build on that foundation to scale the team and infrastructure to support the compelling growth the company experienced during our investment period. We look forward to watching the team succeed in this next phase of the journey.”
During Mainsail’s investment period the Company grew to more than 1,300 customers in the U.S. through a combination of organic growth and three strategic acquisitions.
Ncontracts provides risk, vendor, and compliance management software to a rapidly expanding customer base of more than 1,300 financial institutions located in all 50 states and U.S. territories. The company’s powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite that encompasses vendor risk, compliance risk, and enterprise risk management. For more information, please visit http://www.ncontracts.com.
About Mainsail Partners
Mainsail Partners is a growth equity firm that invests exclusively in fast-growing, bootstrapped software companies. Since 2003, we have invested in over 50 growth companies. Our dedicated operations team is purpose-built to help exceptional entrepreneurs scale their businesses and accelerate growth. For more information, please visit http://www.mainsailpartners.com
1 “2019 Inc. 5000: The Most Successful Companies in America.” Inc. Magazine, 14 August 2019.