CHARLOTTE, N.C. and SAN FRANCISCO, Nov. 8, 2017 /PRNewswire/ -- AMTdirect, LLC ("AMTdirect"), a leading provider of lease administration and lease accounting solutions, today announced it has received a strategic growth investment from Luminate Capital Partners, a San Francisco-based private equity firm.
AMTdirect provides contract management solutions for real estate professionals and lease administrators that efficiently organize all lease and related information in a fully automated system that integrates with ERP and accounting systems. AMTdirect's SaaS platform provides businesses with anytime access to their full property inventory, lease information, contracts, and associated expenses and revenues. Currently, AMTdirect's SaaS platform covers real estate and equipment lease contracts that generate over $40 billion in global accounts payable payments annually.
"For over twenty years, we have focused on the lease administration and lease accounting market, delivering our solutions to some of the largest retailers and corporations. We found a great partner in Luminate Capital with the same objective of delivering greater value for our customers by building a broader product suite, and providing exceptional customer support," said Scott Schubert, CEO of AMTdirect.
"As we prepare to help our customers comply with the FASB 842 and IFRS 16 standards, we wanted to find a partner that could help us in scaling our enterprise software businesses, and we feel we now have that with Luminate Capital," added Dan Schubert, President of AMTdirect.
Retailers, healthcare organizations, large corporations, and higher education institutions including Lowe's, Enterprise Rent-a-Car, Rite Aid, Novant Health, Qualcomm, Penn State University, and others use AMTdirect's solutions daily to manage their entire portfolio of lease contracts and eliminate cumbersome, manual tasks.
"We are excited to partner with Scott, Dan, and their outstanding team to help them pursue their ambitious growth plans. We share their passion for providing mission critical solutions that lease administrators, accountants, and other finance staff love," said Hollie Haynes, Founder & Managing Partner at Luminate.
"At Luminate, we have experience scaling great enterprise software companies by aligning the Company's product strategy with customer needs. We see an opportunity to do that again here with AMTdirect," added Mark Haidet, Operating Partner at Luminate.
Hollie Haynes, Mark Haidet, and Sanjay Palakshappa will join AMTdirect's Board of Directors.
AMTdirect is a leading lease administration and lease accounting software company. AMTdirect's cloud-based solutions help America's leading organizations build a timely, highly accurate and actionable picture of the organization's complete lease portfolio. The fully integrated, easy-to-use solution is designed to reduce costs, optimize location utilization, and ensure compliance with financial reporting standards. AMTdirect is headquartered in Charlotte, NC with offices in New York City, Sacramento, Austin, Orlando, and Nashville. To learn more visit www.amtdirect.com.
About Luminate Capital Partners
Luminate Capital Partners is a private equity firm focused on making investments in software and software-enabled services companies. Luminate partners with management teams to provide flexible capital to drive strategy, growth and operational improvements. For more information visit www.luminatecapital.com.
For Luminate Capital: Chris Tofalli
Chris Tofalli Public Relations
For AMTdirect: Amber Newman
SOURCE Luminate Capital Partners