Dude Solutions, Parent Company of SchoolDude and FacilityDude, Announces Growth Investment From Warburg Pincus of up to $100 Million
Clients to benefit from increased breadth of products and services
Company plans to hire sales, marketing and technology professionals to support growth initiative
CARY, N.C. and NEW YORK, Feb. 3, 2014 /PRNewswire/ -- Dude Solutions Inc. ("Dude Solutions" or "the company"), a leading cloud-based software-as-a-service (SaaS) provider of facility management solutions to several industries under the SchoolDude and FacilityDude brands, today announced that an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, has agreed to make a minority investment of growth capital and additional funds available for strategic acquisitions. The total commitment by Warburg Pincus is up to $100 million.
Founded in 1999, Dude Solutions provides facilities management solutions to school districts, community colleges, universities, governments, community organizations, healthcare and other commercial industries to manage and maintain their investments in facilities, equipment and IT infrastructure. During the past 14 years more than 8,000 clients have selected Dude Solutions software for facilities and IT management. The company enables their clients to streamline facility maintenance work order and IT help desk management, schedule preventive maintenance and plan for capital replacements, increase inventory accountability, maximize after-hours facility use and manage utility consumption through their award-winning suite of web-based applications.
"This investment is a testament to Dude Solutions' market leadership, service focus and vision for facilities management," said Kent Hudson, Chief Executive Officer and Co-Founder of Dude Solutions. "As we broaden our reach into facilities management and sectors where Warburg Pincus has deep domain knowledge, our clients will benefit as we continue to increase the value of our products and services."
"We chose to partner with Warburg Pincus in part because it appreciated how our entrepreneurial, innovative and industrious culture has enabled Dude Solutions to achieve its success to date," said Lee Prevost, Co-founder of Dude Solutions and President of SchoolDude. "With this new capital, we can do more of what we have been doing at even a faster pace."
"Dude Solutions has an impressive history of helping its clients save money, increase efficiency and improve services with their facility management solutions across a number of industries," said Alex Berzofsky, Managing Director, Warburg Pincus. "We are excited to work with the team as they continue to expand the SchoolDude and FacilityDude brands through organic growth and strategic acquisitions."
The company anticipates supporting its growth initiative by hiring sales, marketing and technology professionals.
About Dude Solutions
Dude Solutions, parent company of SchoolDude and FacilityDude, is a leading cloud-based software-as-a-service (SaaS) provider of facility management solutions to education, healthcare, government, clubs and other commercial industries. Founded in 1999, SchoolDude is a market leader in maintenance and operations software assisting educational institutions to better manage their facilities, information technology and energy consumption. Its sister company, FacilityDude, started serving Clients in 2008 by expanding the proven SaaS platform beyond the education sector into local governments, healthcare, club and other commercial facilities. For more information on Dude Solutions companies visit www.schooldude.com and www.facilitydude.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $35 billion in assets under management. The firm's active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds, which have invested more than $45 billion in over 675 companies in more than 35 countries.
Since inception, the firm has invested more than $15 billion in technology, media and tech-enabled services companies, including investments in BEA Systems, iParadigms Holdings LLC, Coyote Logistics, Endurance International Group, FacilitySource, FIS, GT Nexus, MLM Information Services, Nuance Communications, Service Repair Solutions, UGS, VERITAS Software and Wall Street Systems.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo and Shanghai. For more information please visit www.warburgpincus.com.
SOURCE Dude Solutions Inc.