Investment Summary

JMI Equity and Spectrum Equity Invest In Employee Navigator

On January 12, 2021, private equity firms JMI Equity and Spectrum Equity invested in internet software and services company Employee Navigator

Investment Highlights
  • This is JMI Equity’s 39th and Spectrum Equity’s 34th transaction in the Internet Software and Services sector.
  • This is JMI Equity’s 98th and Spectrum Equity’s 80th transaction in the United States.
  • This is JMI Equity’s 2nd and Spectrum Equity’s 4th transaction in Maryland.

Investment Summary
Date 2021-01-12
Target Employee Navigator
Sector Internet Software and Services
Investor(s) JMI Equity
Spectrum Equity
Deal Type Growth Capital

Target

Employee Navigator

Bethesda, Maryland, United States
Employee Navigator is a cloud-based provider of benefits administration software for insurance brokers, carriers, and their clients. Employee Navigator was founded in 2008 and is based in Bethesda, Maryland.

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Investor(S) 2

Investor

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.

DEAL STATS #
Overall 112 of 127
Sector (Internet Software and Services) 39 of 41
Type (Growth Capital) 39 of 50
State (Maryland) 2 of 2
Country (United States) 98 of 111
Year (2021) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Healthx

Indianapolis, Indiana, United States

Healthx is a provider of Internet-enabled healthcare claims information to middle-market employers and their employees, small insurance brokers and third-party administrators. The Company's system creates a dynamic, customizable and cost-effective environment that accelerates the exchange of vital information used in the purchase of and payment for healthcare services via the Internet.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 SOCi

San Diego, California, United States

SOCi is a localized marketing platform built specifically for multi-location marketers. customers include top brands and influencers like Ace Hardware, Sport Clips, and Anytime Fitness who have the impossible challenge of managing their digital presence across hundreds and thousands of locations. As central command for multi-location marketers, SOCi makes it possible by enabling top brands and their locations to strengthen and scale their digital presence across limitless local search and social pages while protecting what matters most, their reputation. SOCi is based in San Diego, California.

Buy -
Investor

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 90 of 102
Sector (Internet Software and Services) 34 of 37
Type (Growth Capital) 44 of 52
State (Maryland) 4 of 4
Country (United States) 80 of 89
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 Verafin

St. John's, Newfoundland, Canada

Verafin is a leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today.

Sell $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Quantile Group

London, United Kingdom

Quantile Group reduces risk in financial markets, delivering advanced strategies that rebalance and reduce counterparty risk between market participants, increasing the efficiency and liquidity of markets, improving returns for clients and making the financial system safer. Clients include the G15 top tier global banks, regional banks and other large institutional market participants. Quantile was founded in 2015 and is headquartered in London, with offices in New York.

Buy -
Mergr

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