Investment Summary

Arrowroot Capital, KKR and Sumeru Equity Partners Invest In Firstup

On May 29, 2018, private equity firms Arrowroot Capital, KKR and Sumeru Equity Partners invested in internet software and services company Firstup

Investment Highlights
  • This is Arrowroot Capital’s 6th, KKR’s 20th and Sumeru Equity Partners’ 7th transaction in the Internet Software and Services sector.
  • This is Arrowroot Capital’s 13th, KKR’s 120th and Sumeru Equity Partners’ 10th transaction in the United States.
  • This is Arrowroot Capital’s 3rd, KKR’s 23rd and Sumeru Equity Partners’ 5th transaction in California.

Investment Summary

Date 2018-05-29
Target Firstup
Sector Internet Software and Services
Investor(s) Arrowroot Capital
KKR
Sumeru Equity Partners
Deal Type Venture

Target

Firstup

San Francisco, California, United States
Firstup is a workforce communications platform that enables organizations to accelerate and accomplish their business initiatives by reaching, aligning, and mobilizing every worker. Firstup is based in San Francisco, California.

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Investor(S) 3

Investor

Arrowroot Capital

Marina Del Rey, California, United States

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Arrowroot Capital is a private investment group focused on making growth capital investments in software-as-a-service and internet-based companies. The Firm looks to invest $5 to $25 million per transaction to support growth initiatives, liquidity for founders/investors, or acquisitions. Prospective companies are generally are b2b, offering mission-critical services. Arrowroot was formed in 2014 and is based in Marina Del Rey, California.


DEAL STATS #
Overall 13 of 28
Sector: Internet Software and Services M&A 6 of 11
Type: Venture M&A Deals 6 of 16
State: California M&A 3 of 6
Country: United States M&A 13 of 24
Year: 2018 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-08 KeyedIn Solutions

Bloomington, Minnesota, United States

KeyedIn Solutions helps organizations simplify business processes, improve performance and drive results through an innovative combination of SaaS business solutions, including KeyedIn Manufacturing, configurable cloud ERP software designed exclusively for custom manufacturing; and KeyedIn Projects, a strategy-led project management solution that gives organizations complete visibility into their projects, portfolios, and resources. KeyedIn Solutions is based in Bloomington, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-12 KORE Software

New York, New York, United States

KORE Software is a provider of CRM and business management software for the sports and entertainment industries. KORE Software’s products and services help more than 100 professional sports teams and 450 properties, brands, and agencies worldwide harness valuable customer and partner data to fuel business intelligence and optimize performance. From fan engagement and data warehousing to sponsorship and premium offerings, KORE delivers an integrated suite of applications to drive insights, efficiency, and profitability within sports and entertainment. KORE Software was founded in 2002 and is based in New York, New York.

Buy -
Investor

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 276 of 500
Sector: Internet Software and Services M&A 20 of 38
Type: Venture M&A Deals 24 of 35
State: California M&A 23 of 46
Country: United States M&A 120 of 212
Year: 2018 M&A 15 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-29 BMC

Houston, Texas, United States

BMC is a systems software provider which helps enterprise organizations manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments. BMC was established in 1980 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-11 Envision Healthcare

Nashville, Tennessee, United States

Envision Healthcare is a provider of physician-led services and post-acute care, and ambulatory surgery services. Envision Healthcare was founded in 1992 and is based in Nashville, Tennessee.

Buy $9.9B
DESCRIPTION

Sumeru Equity Partners, Inc. is a technology-focused private equity firm that makes investments in mid-market software, technology enabled services, and hardware companies with a focus on growth. Sumeru Equity Partners typically invests between $50 and $250 million in companies with revenues greater than $10 million. Sumeru Equity Partners was formed in 2014 and is based in Foster City, California.


DEAL STATS #
Overall 13 of 24
Sector: Internet Software and Services M&A 7 of 14
Type: Venture M&A Deals 2 of 2
State: California M&A 5 of 7
Country: United States M&A 10 of 16
Year: 2018 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-24 GoGuardian

El Segundo, California, United States

GoGuardian is a management software provider for schools. GoGuardian has changed the way K-12 schools maximize the learning potential of every student. Its SaaS products help educators identify learning patterns, protect students from harmful and distracting content, and support students who are at risk of self-harm. GoGuardian was founded in 2014 and is based in El Segundo, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-28 Kyriba

San Diego, California, United States

Kyriba is a provider of cloud treasury and financial management solutions. Kyriba delivers a highly secure, 100% SaaS platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. More than 1,600 companies rely on Kyriba to streamline key processes, protect against loss from fraud and cybercrime, and accelerate growth opportunities through improved decision support. Kyriba was founded in 2000 and is based in San Diego, California.

Sell $1.2B