Investment Summary

Summit Partners and General Atlantic Invest In Invoice Cloud

On January 1, 2015, growth capital firms Summit Partners and General Atlantic invested in internet software and services company Invoice Cloud

Investment Highlights
  • This is Summit Partners’ 20th and General Atlantic’s 24th transaction in the Internet Software and Services sector.
  • This is Summit Partners’ 242nd and General Atlantic’s 70th transaction in the United States.
  • This is Summit Partners’ 31st and General Atlantic’s 4th transaction in Massachusetts.

Investment Summary
Date 2015-01-01
Target Invoice Cloud
Sector Internet Software and Services
Investor(s) Summit Partners
General Atlantic
Deal Type Growth Capital

Target

Invoice Cloud

Braintree, Massachusetts, United States
website
Invoice Cloud is a provider of trusted, secure e-payments and highest adopting electronic bill presentment with payment solutions. Invoice Cloud was founded in 2008 and is based in Braintree, Massachusetts.

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Investor(S) 2

Investor

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 272 of 384
Sector (Internet Software and Services) 20 of 47
Type (Growth Capital) 159 of 216
State (Massachusetts) 31 of 42
Country (United States) 242 of 318
Year (2015) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Belkin

Playa Vista, California, United States

Belkin is a provider of connectivity solutions and accessories for computer and consumer electronics users. Belkin was formed in 1983 and is based in Playa Vista, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Nomacorc

Zebulon, North Carolina, United States

Nomacorc engineers synthetic wine closures to prevent cork taint, oxidation and crumbling, providing a long-term solution at a lower price than a traditional wine cork. Nomacorc is based in Zebulon, North Carolina.

Sell -
Investor

General Atlantic

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 141 of 340
Sector (Internet Software and Services) 24 of 73
Type (Growth Capital) 58 of 128
State (Massachusetts) 4 of 17
Country (United States) 70 of 160
Year (2015) 2 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Uber

San Francisco, California, United States

Uber develops, markets and operates a mobile-app-based transportation network. Uber connects passengers with a variety of drivers for both personal and food delivery. Uber was formed in 2009 and is based San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 FlixBus

Munich, Germany

FlixBus is a mobility provider, offering new alternatives for convenient, affordable and environmentally friendly travel via the FlixBus, FlixCar and FlixTrain brands. FlixBus is a disruptive, asset-light, tech-enabled global mobility platform offering mid- and long-distance travel in Europe and the US – the company helps over 50 million passengers a year to reach more than 2,000 destinations in over 30 countries. FlixBus was founded in 2011 and is based in Munich, Germany.

Buy -
Mergr

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