Investment Summary

Updata Partners and StepStone Private Equity Invest In Ruby Receptionists

On January 6, 2015, growth capital firm Updata Partners and private equity firm StepStone Private Equity invested in communications company Ruby Receptionists

Investment Highlights
  • This is Updata Partners’ 2nd and StepStone Private Equity’s 1st transaction in the Communications sector.
  • This is Updata Partners’ 41st and StepStone Private Equity’s 3rd transaction in the United States.
  • This is Updata Partners’ 1st and StepStone Private Equity’s 1st transaction in Oregon.

Investment Summary

Date 2015-01-06
Target Ruby Receptionists
Sector Communications
Investor(s) Updata Partners
StepStone Private Equity
Deal Type Growth Capital

Target

Ruby Receptionists

Portland, Oregon, United States
Ruby Receptionists is a technology-enabled provider of live, virtual receptionist services to small and medium businesses. Ruby Receptionists was formed in 2003 and is based in Portland, Oregon.

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Investor(S) 2

Investor

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $100 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 42 of 65
Sector (Communications) 2 of 2
Type (Growth Capital) 8 of 14
State (Oregon) 1 of 3
Country (United States) 41 of 56
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Harver

New York, New York, United States

Harver is a volume hiring solution designed to help innovative companies around the world hire better, faster, and in a fundamentally fair manner. Global organizations, including mcdonald’s, booking.com, valvoline, and alorica use harver to digitally transform their candidate selection process into an experience that recruiters, hiring managers, and candidates love. Harver is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-05 First Insight

Warrendale, Pennsylvania, United States

First Insight is a provider of solutions that empower brands to incorporate the voice of the consumer into the design and merchandising of new products. First Insight solution gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Retailers, manufacturers, and brands use the First Insight solution to design, select, price and market the most profitable new products for improved sales, margins and inventory turnover. First Insight was founded in 2007 and is based in Warrendale, Pennsylvania.

Buy -
DESCRIPTION

StepStone Private Equity is the private equity arm of StepStone Global, a global alternative investment and asset management firm. StepStone Private Equity manages and makes fund investments as well as co-invests in direct opportunities spanning buyout, venture, distressed, private debt, and energy. StepStone Private Equity is based in La Jolla, California.


DEAL STATS #
Overall 3 of 6
Sector (Communications) 1 of 1
Type (Growth Capital) 1 of 2
State (Oregon) 1 of 1
Country (United States) 3 of 4
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-31 DivX

San Diego, California, United States

DivX, Inc. is a digital media company that enables consumers to enjoy a high-quality video experience across any kind of device. The DivX brand is recognized worldwide and supported by a community of millions of consumers.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-30 DivX

San Diego, California, United States

DivX, Inc. is a digital media company that enables consumers to enjoy a high-quality video experience across any kind of device. The DivX brand is recognized worldwide and supported by a community of millions of consumers.

Sell $63M