Investment Summary

ICONIQ Capital, Mainsail Partners and H.I.G. Private Equity Invest In ServiceTitan

On March 15, 2017, growth capital firm ICONIQ Capital, growth capital firm Mainsail Partners and private equity firm H.I.G. Private Equity invested in internet software and services company ServiceTitan

Investment Highlights
  • This is ICONIQ Capital’s 11th, Mainsail Partners’ 6th and H.I.G. Private Equity’s 5th transaction in the Internet Software and Services sector.
  • This is ICONIQ Capital’s 21st, Mainsail Partners’ 18th and H.I.G. Private Equity’s 138th transaction in the United States.
  • This is ICONIQ Capital’s 10th, Mainsail Partners’ 7th and H.I.G. Private Equity’s 16th transaction in California.

Investment Summary

Date 2017-03-15
Target ServiceTitan
Sector Internet Software and Services
Investor(s) ICONIQ Capital
Mainsail Partners
H.I.G. Private Equity
Deal Type Venture

Target

ServiceTitan

Glendale, California, United States
ServiceTitan is a mobile, cloud-based software platform that helps home services companies streamline operations, improve customer service, and increase sales. ServiceTitan was founded in 2012 and is based in Glendale, California.

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Investor(S) 3

Investor

ICONIQ Capital


Category Growth Capital Firm
Founded 2011
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION


DEAL STATS #
Overall 23 of 91
Sector (Internet Software and Services) 11 of 33
Type (Venture) 12 of 72
State (California) 10 of 41
Country (United States) 21 of 80
Year (2017) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-10 Enfusion

Chicago, Illinois, United States

Enfusion is a provider of fully hosted front, middle and back-office solutions for hedge funds and traditional asset managers, including execution, order management, portfolio management, risk, GL accounting, reconciliations, reporting, and data warehouse. Enfusion was founded in 1997 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-24 Alteryx

Irvine, California, United States

Alteryx is a provider of self-service data analytics software. Alteryx's software platform enables organizations to dramatically improve business outcomes and the productivity of their business analysts. Alteryx's subscription-based platform allows organizations to prepare, blend, and analyze data from a multitude of sources and more quickly benefit from data-driven decisions. The ease-of-use, speed, and sophistication that its platform provides is enhanced through intuitive and highly repeatable visual workflows. Alteryx was founded in 1997 and is based in Irvine, California.

Sell -
Investor

Mainsail Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2003
PE ASSETS 750M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Mainsail Partners is a private equity firm that principally targets investments in North American bootstrapped software companies with proven business models and long-term growth potential. Mainsail looks commit $10 to $75 million of equity capital per transaction in businesses generating annual revenues of $4 to $25 million. Mainsail Partners was formed in 2003 and is based in San Francisco.


DEAL STATS #
Overall 18 of 44
Sector (Internet Software and Services) 6 of 16
Type (Venture) 1 of 1
State (California) 7 of 9
Country (United States) 18 of 43
Year (2017) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-13 Steelwedge Software

Pleasanton, California, United States

Steelwedge Software, Inc. is a provider of Integrated Business Planning (IBP) solutions. Steelwedge’s cloud-based Sales & Operations Planning (S&OP) software connects people, process and technology to power a single view of a company’s business, powering reliable “what if” scenario modeling that pinpoints the financial impact of supply-demand trade-off decisions. Steelwedge Software was founded in 2000 and is based in Pleasanton, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-20 Zen Planner

Leawood, Kansas, United States

Zen Planner LLC is a developer of cloud-based business management software for the health and fitness community. The Company’s cloud platform provides end-to-end business management functionality for a studio owner, including: marketing campaigns, customer relationship management, automated online payments, class and appointment scheduling, event registration, expense tracking, and detailed financial reporting across multiple studios or locations.

Sell -
Investor

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 202 of 370
Sector (Internet Software and Services) 5 of 12
Type (Venture) 5 of 10
State (California) 16 of 29
Country (United States) 138 of 246
Year (2017) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-24 Adelie Foods Group

Slough, United Kingdom

Adelie Foods Group is a supplier of chilled Food-to-Go, offering a range of products such as sandwiches, salads, and quiche to supermarkets, coffee shops, and the foodservice sector.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-17 Advanced Environmental Recycling Technologies

Springdale, Arkansas, United States

Advanced Environmental Recycling Technologies, Inc. (“AERT”) is a provider in plastic recycling technologies, specializing in recycling polyethylene plastics for the manufacture of composite building materials and for the sale of recycled resin to other extruders of plastic products.

Sell $117M