Growth Capital • Internet Software and Services

Silversmith Capital Partners and Insight Partners Invest In DistroKid

On October 9, 2018, growth capital firm Silversmith Capital Partners and venture capital firm Insight Partners invested in internet software and services company DistroKid

Investment Context
  • This is Silversmith Capital Partners’ 6th and Insight Partners’ 23rd transaction in the Internet Software and Services sector.
  • This is Silversmith Capital Partners’ 18th and Insight Partners’ 56th transaction in the United States.
  • This is Silversmith Capital Partners’ 2nd and Insight Partners’ 5th transaction in New York.

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Investment Summary

Date October 9, 2018
Target DistroKid
Sector Internet Software and Services
Investor(s) Silversmith Capital Partners
Insight Partners
Deal Type Growth Capital
Advisor(s) Gunderson Dettmer (Legal)

Target Company

DistroKid

New York City, New York, United States
DistroKid is a provider of SaaS-based software that serves independent musicians and record labels with online tools and services that are innovative, easy-to-use, and affordable. DistroKid's expanding array of services include music distribution, monetization, metadata customization, storage, and promotion. DistroKid was founded in 2013 and is based in New York City, New York.
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Investors Overview 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 Context for Investor #
Overall 19 of 43
Sector: Internet Software and Services 6 of 9
Type: Growth Capital 11 of 27
State: New York 2 of 5
Country: United States 18 of 38
Year: 2018 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-04 Impel

Syracuse, New York, United States

Impel is an Artificial intelligence-based software platform helping vehicle retailers deliver more engaging customer experiences at every step of the buyer journey. Impel was founded in 2011 and is based in Syracuse, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-15 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.

Buy -
Investor

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


Deal Context for Investor #
Overall 68 of 99
Sector: Internet Software and Services 23 of 26
Type: Growth Capital 21 of 28
State: New York 5 of 7
Country: United States 56 of 79
Year: 2018 15 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Spanning

Miami, Florida, United States

Spanning is a provider of subscription-based backup and recovery for “born in the cloud” applications and data. Spanning solutions prevent business interruption due to data loss in Google Apps and Salesforce.com. The company provides powerful, enterprise-class data protection for G Suite, Salesforce, and Microsoft Office 365. Spanning was founded in 2010 and is based in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 Keyfactor

Independence, Ohio, United States

Keyfactor is a provider of secure digital identity management solutions that enable organizations to confirm the authenticity and ensure the right things are interacting in the right ways in our connected world. Keyfactor was founded in 2001 and is based in Independence, Ohio.

Buy -