Investment Summary

Spectrum Equity Exits Litmus

On April 10, 2025, Validity invested in software company Litmus from Spectrum Equity

Investment Highlights
  • This is Validity’s 4th transaction in the Software sector.
  • This is Validity’s 5th transaction in the United States.
  • This is Validity’s 1st transaction in Massachusetts.

Investment Summary

Date 2025-04-10
Target Litmus
Sector Software
Investor(s) Validity
Sellers(s) Spectrum Equity
Deal Type Add-on Acquisition
Advisor(s) Evercore Group (Financial)
Choate Hall & Stewart (Legal)

Target

Litmus

Cambridge, Massachusetts, United States
Litmus provides email optimization and collaboration solution for marketers. From Pre-Send campaign development and testing to Post-Send insights for future content optimization, it improves marketing performance and strategy, delivering increased subscriber engagement. Litmus was founded in 2005 and is based in Cambridge, Massachusetts.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Investor(S) 1

Investor

Validity

Boston, Massachusetts, United States

Category Company
Founded 2018
Sector Software
DESCRIPTION

Validity is a provider of data integrity and compliance offerings that thousands of organizations worldwide rely on to trust their data. With highly-valued products including demandTools, dupeBlocker, and peopleImport, Validity is empowering organizations worldwide to make better decisions that drive more leads, close more deals, and confidently plan for continued growth. Validity was founded in 2018 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 6 of 6
Sector: Software M&A 4 of 4
Type: Add-on Acquisition M&A Deals 6 of 6
State: Massachusetts M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-07 MailCharts

New York, New York, United States

MailCharts is a platform that powers data-driven campaign planning for eCommerce marketing teams. MailCharts provides users with a curated and vetted index of brands to plan, report, and build out their next campaign or customer journey. MailCharts was founded in 2013 and is based in New York City.

Buy -

Seller(S) 1

SELLER

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 77 of 77
Sector: Software M&A 13 of 13
Type: Add-on Acquisition M&A Deals 46 of 46
State: Massachusetts M&A 5 of 5
Country: United States M&A 68 of 68
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-22 Visual Lease

Woodbridge, New Jersey, United States

Visual Lease is an accounting software provider including comprehensive and sophisticated real estate and equipment lease management and accounting software platforms for public and private companies, government entities and other organizations with 50 to 20,000+ leases. Visual Lease was founded in 1995 and is based in Woodbridge, New Jersey.

Sell -