Investment Summary

Accel-KKR Invests In Drips

On July 28, 2021, private equity firm Accel-KKR invested in information technology company Drips

Investment Highlights
  • This is Accel-KKR’s 18th transaction in the Information Technology sector.
  • This is Accel-KKR’s 70th transaction in the United States.
  • This is Accel-KKR’s 1st transaction in Ohio.

Investment Summary
Date 2021-07-28
Target Drips
Sector Information Technology
Investor(s) Accel-KKR
Deal Type Growth Capital
Advisor(s) K&L Gates (Legal)

Target

Drips

Akron, Ohio, United States
Drips AI-powered platform enables brands to engage with their audiences through conversational texting and scheduled calling. Backed by a proprietary natural language processing model, Drips leverages human-like messaging to break through the noise, capture intent, and drive meaningful outcomes. The platform offers an open API allowing clients to integrate with any CRM, marketing automation system, dialer or call center platform. Drips was formed in 2014 and is based in Akron, Ohio.

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Investor(S) 1

Investor

Accel-KKR

Menlo Park, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Accel-KKR is a private equity firm that seeks control and growth-oriented investments in middle-market technology companies. The Firm targets investments in public and private companies with revenues ranging from $15 to $150 million. Accel-KKR pursues transactions across multiple segments of the technology industry, including software, hardware and internet technologies, and IT enabled services. Accel-KKR's first fund was created in 2000 by Accel Partners and Kohlberg Kravis Roberts & Co. to invest in technology assets and businesses that were outside of each firm's core focus. Accel-KKR is based in Menlo Park, California.

DEAL STATS #
Overall 98 of 117
Sector (Information Technology) 18 of 22
Type (Growth Capital) 43 of 53
State (Ohio) 1 of 1
Country (United States) 70 of 81
Year (2021) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-28 Uptick

Fitzroy, Australia

Uptick is a software provider to building compliance industry with over 250,000 buildings and millions of assets are maintained using its software every year. The company's primary product, Workforce, helps field servicing companies manage their mobile workforce to perform routine asset maintenance activities keeping buildings safe and compliant. Its other products are tailored for building owners and facility managers allowing them to manage their compliance and risk, and clients include some of the largest facility owners in Australia. Uptick was formed in 2013 and is based in Fitzroy, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Unimarket

Auckland, New Zealand

Unimarket provides cloud-based procurement software and services in a number of sectors. Its easy-to-use eProcurement solution simplifies and automates the procurement process by connecting an extensive catalog-driven supplier marketplace with purchasing, invoice management, and card payment functions, together in a single cloud platform that is easy for administrators, buyers, and suppliers alike. Unimarket was formed in 2005 and is based in Auckland, New Zealand.

Buy -
Mergr

Product

Company

Legal