Investment Summary

First Analysis, Argentum Capital Partners and Great Hill Partners Invest In Chrome River Technologies

On May 11, 2012, venture capital firm First Analysis, growth capital firm Argentum Capital Partners and private equity firm Great Hill Partners invested in internet software and services company Chrome River Technologies

Investment Highlights
  • This is First Analysis’ 4th, Argentum Capital Partners’ 2nd and Great Hill Partners’ 10th transaction in the Internet Software and Services sector.
  • This is First Analysis’ 32nd, Argentum Capital Partners’ 17th and Great Hill Partners’ 37th transaction in the United States.
  • This is First Analysis’ 6th, Argentum Capital Partners’ 4th and Great Hill Partners’ 5th transaction in California.
Investment Fate
  • Chrome River Technologies merged with another company in 2019 for 1.0B USD.

Investment Summary

Date 2012-05-11
Target Chrome River Technologies
Sector Internet Software and Services
Investor(s) First Analysis
Argentum Capital Partners
Great Hill Partners
Deal Type Growth Capital

Target

Chrome River Technologies

Los Angeles, California, United States
Chrome River Technologies, Inc. is a provider of online expense reporting and automated invoice processing software. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. Chrome River Technologies was established in 2007 and is based in Los Angeles, California.

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Investor(S) 3

Investor

First Analysis

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1981
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

First Analysis is a financial advisory and investment firm. First Analysis' private equity arm targets investments in growth companies at all stages of development. The Group looks for opportunities based primarily in the US and can commit up to $10 million of equity per transaction. Sectors of particular interest include outsourced services, (business/government services, education, environmental services, healthcare services, marketing services); information technology, (business integration, call centers, healthcare IT, network security, open source, sensor systems, transaction processing); and chemistry enabled businesses (advanced materials, chemicals, healthcare products, polymers, purification). First Analysis was formed in 1981 and is based in Chicago, Illinois.


DEAL STATS #
Overall 34 of 60
Sector: Internet Software and Services M&A 4 of 9
Type: Growth Capital M&A Deals 3 of 14
State: California M&A 6 of 11
Country: United States M&A 32 of 57
Year: 2012 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-13 DataSphere Technologies

Bellevue, Washington, United States

DataSphere Technologies is one of the fastest-growing online marketing companies in the U.S. The company helps local businesses raise their visibility, convert more customers, and gain a competitive edge with custom marketing packages. Services include exclusive association with leading local media brands, the Web’s largest local coupon network, custom video ads, Facebook integration, mobile marketing, email campaigns and more. DataSphere’s platform also offers content and sales solutions to major media companies, including Gannett, Meredith Corp., Raycom Media, Local TV LLC, Fisher Communications and Hubbard Broadcasting, helping them create and monetize services specifically designed for small business advertisers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 M Cubed

Newtown, Connecticut, United States

M Cubed develops and markets advanced composite products to original equipment manufacturers in semiconductor, display, industrial, and defense markets worldwide.

Sell $71M
Investor

Argentum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argentum Capital Partners is a private equity firm focused on investing in small to mid-sized companies with proven business models and the ability to become market leaders. Prospective transaction situations include growth capital financing, management buyouts, platform acquisitions, and recapitalization. The firm typically takes minority positions, except in the case of management buyouts. Industry sectors of interest include business services, healthcare, and technology. Argentum generally prefers opportunities located in the Eastern US, but will consider companies across the US. Argentum Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 19 of 48
Sector: Internet Software and Services M&A 2 of 13
Type: Growth Capital M&A Deals 3 of 25
State: California M&A 4 of 11
Country: United States M&A 17 of 45
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 AFS Technologies

Phoenix, Arizona, United States

AFS Technologies is a provider of fully integrated business software solutions, specifically engineered for the Food and Beverage industries. AFS new Service Oriented Architecture (SOA), based on Web Services and built on Microsoft. NET Framework 2.0, provides its customers with greater IT flexibility, increased scalability of their existing systems, and more powerful functionality, all at an affordable price. AFS Technologies was founded in 1985 and is based in Phoenix, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-16 ExpertPlan

East Windsor, New Jersey, United States

ExpertPlan provides private-label retirement solutions to the financial services industry. The company's Web-based 401(k) platform enables ExpertPlan's clients in the financial services industry to service small companies in a more cost-effective and user-friendly manner and provide a broader array of product choices.

Sell -
Investor

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 43 of 98
Sector: Internet Software and Services M&A 10 of 32
Type: Growth Capital M&A Deals 10 of 32
State: California M&A 5 of 13
Country: United States M&A 37 of 82
Year: 2012 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-06 Legacy.com

Chicago, Illinois, United States

Legacy.com is a commercial facilitator of online memorials. Legacy powers sympathy e-commerce solutions (e.g., flowers, cards, trees) as well as obituary publishing via its website, funeral home partners and digital news / media channels. Legacy.com was founded in 1998 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-03 InStore Audio Network

Princeton, New Jersey, United States

InStore Audio Network is the largest in-store audio advertising provider in the United States and delivers commercial audio messages to shoppers in over 16,000 grocery, drug, and convenience stores. InStore Audio Network was founded in 1983 and is headquartered in Princeton, New Jersey.

Sell -