Investment Summary

Silversmith Capital Partners and PSG Invest In Formstack

On November 18, 2021, growth capital firms Silversmith Capital Partners and PSG invested in internet software and services company Formstack

Investment Highlights
  • This is Silversmith Capital Partners’ 8th and PSG’s 28th transaction in the Internet Software and Services sector.
  • This is Silversmith Capital Partners’ 29th and PSG’s 49th transaction in the United States.
  • This is Silversmith Capital Partners’ 1st and PSG’s 1st transaction in Indiana.

Investment Summary

Date 2021-11-18
Target Formstack
Sector Internet Software and Services
Investor(s) Silversmith Capital Partners
PSG
Deal Type Growth Capital
Advisor(s) Aeris Partners (Financial)
Weil Gotshal & Manges (Legal)

Target

Formstack

Fishers, Indiana, United States
Formstack is a secure workplace productivity platform built to produce ingenious solutions to the everyday work that slows organizations down. Formstack was launched in 2006 and is headquartered in Fishers, Indiana.

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Investor(S) 2

Investor
DESCRIPTION

Silversmith Capital Partners is a private investment firm focused on growth capital investments in SaaS and healthcare IT/services companies. The Firm looks to invest $20 to $125 million in growing companies (20%+) with at least $10 million in revenue. Silversmith Capital Partners was established in 2015 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 31 of 42
Sector (Internet Software and Services) 8 of 9
Type (Growth Capital) 18 of 26
State (Indiana) 1 of 1
Country (United States) 29 of 38
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 TMA Systems

Tulsa, Oklahoma, United States

TMA Systems is a provider of advanced Computerized Maintenance Management Systems (CMMS) and Enterprise Asset Management Solutions (EAMS). The company's advanced solutions meet or exceed the needs of education, healthcare, corporate, government, telecommunication, transportation, manufacturing, and retail organizations. TMA Systems is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-21 Clearer.io

Boston, Massachusetts, United States

Clearer.io is a software platform for e-commerce merchants that brings software applications to drive merchant growth. Its product suite consists of more than 25 point solutions used by over 100,000 merchants on platforms such as Shopify, WooCommerce, and BigCommerce. Clearer.io was founded in 2021 and is based in Boston, Massachusetts.

Buy -
Investor

PSG


Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 69 of 113
Sector (Internet Software and Services) 28 of 48
Type (Growth Capital) 34 of 68
State (Indiana) 1 of 1
Country (United States) 49 of 78
Year (2021) 23 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 Lusha

Boston, Massachusetts, United States

Lusha is a crowdsourced data community and sales intelligence platform which empowers B2B sales professionals to identify, engage and close qualified prospects thanks to accurate and accessible data. Lusha was founded in 2016 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 mPulse

Encino, California, United States

mPulse is a provider of conversational AI solutions for the healthcare industry. mPulse is reimagining health engagement to inspire healthier lives and deeper relationships between healthcare organizations and their consumers. mPulse is based in Encino, California.

Buy -