Investment Summary

JMI Equity and Frontier Growth Invest In ServiceTrade

On December 6, 2021, private equity firm JMI Equity and growth capital firm Frontier Growth invested in software company ServiceTrade

Investment Highlights
  • This is JMI Equity’s 54th and Frontier Growth’s 14th transaction in the Software sector.
  • This is JMI Equity’s 106th and Frontier Growth’s 52nd transaction in the United States.
  • This is JMI Equity’s 2nd and Frontier Growth’s 7th transaction in North Carolina.

Investment Summary

Date 2021-12-06
Target ServiceTrade
Sector Software
Investor(s) JMI Equity
Frontier Growth
Deal Type Growth Capital
Advisor(s) Canaccord Genuity (Financial)

Target

ServiceTrade

Durham, North Carolina, United States
ServiceTrade makes software as a service application for commercial service contractors. Contractors use ServiceTrade’s mobile and web applications to streamline service operations, sell more services, and engage customers online to earn revenue growth averaging over 23% year-over-year. ServiceTrade was founded in 2012 and is based in Durham, North Carolina.

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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 121 of 127
Sector (Software) 54 of 58
Type (Growth Capital) 46 of 50
State (North Carolina) 2 of 3
Country (United States) 106 of 111
Year (2021) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-27 CompanyCam

Lincoln, Nebraska, United States

CompanyCam helps contractors build trust with their crews and customers through photo documentation. CompanyCam makes it easy to keep everyone on the same page with an actively growing list of features and integrations. CompanyCam was launched in 2015 and is based in Lincoln, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 CampusLogic

Chandler, Arizona, United States

CampusLogic delivers SaaS technology that helps colleges and universities remove barriers in the financial aid process. The company currently helps nearly 800 schools increase enrollment, retention, and graduation rates with the most comprehensive platform of Student Financial Success products. CampusLogic was formed in 2011 and is based in Chandler, Arizona.

Sell -
Investor

Frontier Growth

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Frontier Capital LLC is a private investment firm that provides expansion capital to high-growth 'technology-enabled' business service companies generating revenues $8-$30 million. Frontier targets companies that utilize technology, an innovative business process, or a unique expertise to deliver a differentiated service to customers. Frontier typically invests throughout the Southeast and Mid-Atlantic regions of the US and looks to commit $10 to $50 million of equity capital per transaction. Investment proceeds are generally used for growth initiatives, acquisitions, or to provide shareholder liquidity. Frontier Capital was formed in 1999 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 55 of 58
Sector (Software) 14 of 16
Type (Growth Capital) 35 of 38
State (North Carolina) 7 of 7
Country (United States) 52 of 54
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 GovQA

Woodridge, Illinois, United States

GovQA is a provider of public records and enterprise workflow solutions for the government. GovQA's Exchange Platform enables agencies to action all information in response to any urgent request. Ultimately, it helps them move away from slow, error-prone manual processes reducing paperwork, improving collaboration, and increasing the quality of services they provide. GovQA was founded in 2000 and is based in Woodridge, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Burbank Dental Lab

Burbank, California, United States

Burbank Dental Lab is a full-service dental laboratory providing quality dental restorations and smiles by design experts for dentists. Burbank Dental Lab is based in Burbank, California.

Buy -