Investment Summary

SSM Partners, Great Point Partners and Global Capital Invest In Connecture

On March 26, 2004, growth capital firm SSM Partners, private equity firm Great Point Partners and merchant bank Global Capital invested in software company Connecture

Investment Highlights
  • This is SSM Partners’ 2nd, Great Point Partners’ 1st and Global Capital’s 1st transaction in the Software sector.
  • This is SSM Partners’ 6th, Great Point Partners’ 1st and Global Capital’s 1st transaction in the United States.
  • This is SSM Partners’ 1st, Great Point Partners’ 1st and Global Capital’s 1st transaction in Wisconsin.
Investment Fate
  • Connecture went public in 2014.
  • Connecture was sold to a financial buyer in 2018.
  • Connecture was sold to a publicly-traded strategic buyer in 2019.

Investment Summary

Date 2004-03-26
Target Connecture
Sector Software
Investor(s) SSM Partners
Great Point Partners
Global Capital
Deal Type Growth Capital

Target

Connecture

Brookfield, Wisconsin, United States
Connecture is a web-based consumer shopping, enrollment and retention platform for health insurance distribution. Connecture offers a personalized health insurance shopping experience that recommends the best fit insurance plan based on an individual’s preferences, health status, preferred providers, medications and expected out-of-pocket costs. Connecture’s customers are health insurance marketplace operators such as health plans, brokers and exchange operators, who must distribute health insurance in a cost-effective manner to a growing number of insured consumers. Connecture’s solutions automate key functions in the health insurance distribution process, allowing its customers to price and present plan options accurately to consumers and efficiently enroll, renew and manage plan members.

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Investor(S) 3

Investor

SSM Partners

Memphis, Tennessee, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

SSM Partners is a private equity firm that targets investments in smaller, rapidly growing, private companies based in the Southeast US. Areas of interest include business/outsourcing services, healthcare and consumer services. SSM focuses on transactions requiring $10 to $30 million of equity. Prospective transactions include growth financings, acquisitions, management led buyouts, and recapitalizations. SSM will also consider early-stage opportunities. SSM Partners is based in Memphis, Tennessee.


DEAL STATS #
Overall 6 of 29
Sector: Software M&A 2 of 5
Type: Growth Capital M&A Deals 2 of 10
State: Wisconsin M&A 1 of 1
Country: United States M&A 6 of 29
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-06 Tobin International

Houston, Texas, United States

Tobin International is recognized as the leading provider of geo-business information systems utilizing map data and decision support software as well as installation and integration services. Over the past 75 years, Tobin has transformed geo-business information management from a paper-based process to a comprehensive system integrating digital maps, tabular databases, satellite imagery, document management and work flow. Tobin supports a wide variety of professionals responsible for managing location-based assets and related information in the energy, utility, and pipeline industries and government sector.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Fuego

Plano, Texas, United States

Fuego, Inc. is a enterprise process management software.

Sell -
Investor

Great Point Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Great Point Partners is a private investment firm focused on investing in private and public healthcare companies. Great Point's private equity practice invests $10 to $100 million of growth capital in private, growing companies. Specific areas of interest within the healthcare sector includes biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and worker compensation companies. Great Point Partners was formed in 2003 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 1 of 36
Sector: Software M&A 1 of 3
Type: Growth Capital M&A Deals 1 of 6
State: Wisconsin M&A 1 of 1
Country: United States M&A 1 of 28
Year: 2004 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Biodel

Danbury, Connecticut, United States

Biodel, Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients.

Buy -
Investor

Global Capital

Johannesburg, South Africa

Investor Investor


Category Merchant Bank
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Global Capital is a South African investment banking and private equity firm. The Firm's private equity arm looks to make investments in a variety of sectors and focuses on companies generating at least R50 million in revenues and R10 million in profits. Global Capital dates back to 1995 and is based in Johannesburg.


DEAL STATS #
Overall 1 of 9
Sector: Software M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 1
State: Wisconsin M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2004 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Pilot Crushtec

Boksburg, South Africa

Provider of innovative mobile and semi-mobile crushing, screening and material-handling solutions for industries as diverse as coal, diamond, gold and cobalt mining, as well as aggregate and sand quarrying, construction, civil engineering and recycling.

Buy -