Investment Summary

Silversmith Capital Partners and PSG Invest In Formstack

On November 18, 2021, growth capital firms Silversmith Capital Partners and PSG invested in internet software and services company Formstack

Investment Highlights
  • This is Silversmith Capital Partners’ 9th and PSG’s 28th transaction in the Internet Software and Services sector.
  • This is Silversmith Capital Partners’ 24th and PSG’s 49th transaction in the United States.
  • This is Silversmith Capital Partners’ 1st and PSG’s 1st transaction in Indiana.

Investment Summary

Date 2021-11-18
Target Formstack
Sector Internet Software and Services
Investor(s) Silversmith Capital Partners
PSG
Deal Type Growth Capital

Target

Formstack

Fishers, Indiana, United States
website
Formstack is a secure workplace productivity platform built to produce ingenious solutions to the everyday work that slows organizations down. Formstack was launched in 2006 and is headquartered in Fishers, Indiana.

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Investor(S) 2

Investor
DESCRIPTION

Silversmith Capital Partners is a private investment firm focused on growth capital investments in SaaS and healthcare IT/services companies. The Firm looks to invest $20 to $125 million in growing companies (20%+) with at least $10 million in revenue. Silversmith Capital Partners was established in 2015 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 28 of 37
Sector (Internet Software and Services) 9 of 10
Type (Growth Capital) 17 of 23
State (Indiana) 1 of 1
Country (United States) 24 of 32
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 Panalgo

Boston, Massachusetts, United States

Panalgo provides software that streamlines healthcare data analytics by removing complex programming from the equation. Panalgo Instant Health Data (IHD) software empowers teams to generate and share trustworthy results faster, enabling more impactful decisions. Panalgo was established in 1996 and is based in Boston, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-21 AppHub

Boston, Massachusetts, United States

AppHub is a software platform for e-commerce merchants that brings software applications to drive merchant growth. Its product suite consists of more than 25 point solutions used by over 100,000 merchants on platforms such as Shopify, WooCommerce, and BigCommerce. AppHub was founded in 2021 and is based in Boston, Massachusetts.

Buy -
Investor

PSG

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 67 of 102
Sector (Internet Software and Services) 28 of 46
Type (Growth Capital) 33 of 58
State (Indiana) 1 of 1
Country (United States) 49 of 71
Year (2021) 23 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 Lusha

Boston, Massachusetts, United States

Lusha is a crowdsourced data community and sales intelligence platform which empowers B2B sales professionals to identify, engage and close qualified prospects thanks to accurate and accessible data. Lusha was founded in 2016 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 mPulse

Encino, California, United States

mPulse is a provider of conversational AI solutions for the healthcare industry. mPulse is reimagining health engagement to inspire healthier lives and deeper relationships between healthcare organizations and their consumers. mPulse is based in Encino, California.

Buy -