Project Management SaaS Company Receives First Institutional Investment to Support Accelerated Growth
San Francisco, CA – December 12, 2013 – Carrick Capital Partners today announced the firm’s investment in Mavenlink, a fast growing software-as-a-service (SaaS) business that provides project management and project accounting offerings for small- to medium-sized businesses and divisions of larger enterprises.
Carrick’s investment in Mavenlink is directly in line with the firm’s focus on scaling fast growing technology-enabled services businesses, including software-as-a-service. In the last two years, Mavenlink has added more than half a million subscribers and secured the #1 ranking on the Google enterprise apps marketplace.
Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners, will be involved as an active member of Mavenlink’s board, and will be joined by Steve Unterberger, CTO of Carrick Capital Partners. “Ray Grainger and his team at Mavenlink are building a very impressive business that is poised for significant market expansion and growth. With such a promising model, Ray had a lot of choices for an investment partner, and we are pleased he selected Carrick. We plan to implement our Approach to Building Value (ABV) to help accelerate the company’s rapid expansion,” said Madden.
“I have been very impressed with Mavenlink’s technology platform and the value they deliver to their clients. We’re looking forward to continuing our collaboration with Ray and his team,” Unterberger explained.
“We’ve been extremely impressed by Carrick and their ABV. The resources and operational expertise Carrick is able to provide is tremendously valuable to Mavenlink at this stage. We are excited by this partnership and are confident they will help us to further accelerate our business success and growth,” added Ray Grainger, CEO and Founder of Mavenlink.
About Carrick Capital Partners
Carrick Capital Partners is an investment firm that utilizes ABV (Approach to Building Value) to operationally scale fast growing businesses that provide technology-enabled services. Carrick adds value by taking a concentrated approach and dedicating significant resources post-investment. Carrick helps scale great companies that deliver significant returns for investors, stimulating economic growth and positively impacting the industry landscape. Working directly with CEO’s and entrepreneurs, Carrick fulfills a vital need for investment and growth expertise. For more information, please visit www.carrickcapitalpartners.com
Mavenlink is a Growth Management software company and the leader in advanced project management and team collaboration for professional services businesses. Mavenlink provides an intuitive online environment to collaborate with clients and colleagues in real-time, resulting in improved productivity, efficiency and profitability. Mavenlink delivers world-class customer service and support to more than half a million customers around the world. Mavenlink partners with companies such as Google, Microsoft, Intuit and NetSuite, ranking consistently as the #1 installed App in the Google Apps Marketplace. For additional information, please visit www.mavenlink.com