Investment Summary

Mainsail Partners and JMI Equity Invest In Fullbay

On May 21, 2019, growth capital firm Mainsail Partners and private equity firm JMI Equity invested in internet software and services company Fullbay

Investment Highlights
  • This is Mainsail Partners’ 8th and JMI Equity’s 33rd transaction in the Internet Software and Services sector.
  • This is Mainsail Partners’ 26th and JMI Equity’s 92nd transaction in the United States.
  • This is Mainsail Partners’ 1st and JMI Equity’s 3rd transaction in Arizona.

Investment Summary

Date 2019-05-21
Target Fullbay
Sector Internet Software and Services
Investor(s) Mainsail Partners
JMI Equity
Deal Type Growth Capital

Target

Fullbay

Phoenix, Arizona, United States
Fullbay is a cloud-based shop management software built specifically for heavy-duty repair shops. Fullbay was founded in 2015 and is based in Phoenix, Arizona.

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Investor(S) 2

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 26 of 44
Sector (Internet Software and Services) 8 of 16
Type (Growth Capital) 20 of 37
State (Arizona) 1 of 1
Country (United States) 26 of 43
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-06 Aspire Software

Chesterfield, Montana, United States

Aspire Software offers business management software for landscape, snow & ice, and construction companies. Aspire’s cloud-based SaaS platform helps landscapers manage, create, and execute against their business opportunities and challenges. Aspire Software was formed in 2013 and is based in Chesterfield, Montana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-12 The Bar Method

San Francisco, United States

The Bar Method is a popular, low-impact fitness franchise with 123 studios across 30 states and Canada. The Bar Method was developed by founder Burr Leonard and its flagship studio opened in San Francisco in 2001.

Sell -
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 105 of 127
Sector (Internet Software and Services) 33 of 41
Type (Growth Capital) 34 of 50
State (Arizona) 3 of 3
Country (United States) 92 of 111
Year (2019) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-13 Workfront

Lehi, Utah, United States

Workfront, Inc. is a provider of Software as a Service (SaaS)-based project management and collaborative workforce management solutions. Workfront is the first enterprise application platform for knowledge workers, helping people get their best work done by automating projects and processes, managing content, and providing company-wide collaboration in a single system of record. Workfront was established in 2001 and is based in Lehi, Utah.

Sell $280M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-29 OpenSesame

Portland, Oregon, United States

OpenSesame is an eLearning platform that offers a comprehensive online catalog of curated employee training courses. OpenSesame was founded in 2011 and is based in Portland, Oregon.

Buy -