Softdocs Announces Growth Investment from Ridgemont Equity Partners
Partnership Supports Continued Innovation as Softdocs Enters a New Phase of Growth
COLUMBIA, S.C., Jan. 21, 2021 /PRNewswire-PRWeb/ -- Softdocs, an enterprise content management (ECM) software provider for the higher education and K-12 markets, announced a growth investment from Ridgemont Equity Partners, a middle-market private equity investor. The partnership with Ridgemont empowers Softdocs to expand its market reach and enhance its SaaS-based offering. Financial terms of the transaction were not disclosed.
Founded in 1998 by Mike Murphy, Softdocs delivers ECM software solutions that enable clients to digitize and electronically manage content, deploy mobile-friendly electronic forms, and automate time-intensive workflows. As technology becomes increasingly mission-critical to the operations of institutions and districts, the ability to digitally manage content seamlessly using cloud-based technology across the enterprise becomes even more valuable.
"We are thrilled to partner with Ridgemont as our first institutional investor and excited about the next chapter for Softdocs," said Softdocs' founder Mike Murphy. Robert Satcher, Softdocs' EVP, added, "Ridgemont has a long history of working alongside founders and management teams, and we plan to leverage their extensive experience helping similar companies scale and accelerate growth. We are proud of the business we have built over the past 22 years and are aligned with Ridgemont on how to expand our platform, enhance our value to customers, and achieve our vision for Softdocs."
"Today, educational institutions are interacting digitally at a level never before seen. These communities require the ability to seamlessly manage and share information with every stakeholder, whether on campus or online, prioritizing accessibility, security, and compliance," said Anthony Cassano, Partner at Ridgemont. Seth Peck, Principal at Ridgemont, added, "The Softdocs team has earned extremely high customer satisfaction in a market where secure cloud-based software solutions and ease-of-use are highly valued by customers. We are excited to partner with Mike and Robert to capture the tremendous market opportunity ahead."
Raymond James served as financial advisor to Ridgemont, and Vista Point Advisors served as financial advisor to Softdocs. Alston & Bird LLP and Nelson Mullins Riley & Scarborough LLP served as legal advisors to Ridgemont and Softdocs, respectively.
About Softdocs
Softdocs develops document management, electronic forms, workflow automation, and print customization solutions for the higher education and K-12 markets. The company's Etrieve platform, and complementary solutions, empower institutions to work more efficiently, communicate more effectively and collaborate more freely. Education-focused and SOC 2 Type I and II compliant, Softdocs is a trusted partner of nearly 700 organizations. Softdocs is headquartered in Columbia, South Carolina. http://www.softdocs.com
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont's most recent flagship fund, REP III, was formed in 2018 and has $1.65B of committed capital. http://www.ridgemontep.com
Media Contact
Jordan Harbor, Softdocs, 888-457-8879, [email protected]
SOURCE Softdocs
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