AUBURN HILLS, Mich., Sept. 28, 2021 /PRNewswire/ -- Munetrix, a provider of municipal and school district data management tools and proprietary performance analytics applications, today announced it has received a growth equity investment by Essex Bay Capital, a private equity investment firm that partners with middle-market companies and management teams to help drive growth. Headquartered in Auburn Hills, Mich., Munetrix empowers municipal leaders, school administrators and finance leaders to make more informed financial, strategic, and academic decisions.
The investment allows Munetrix to expand its resources in areas like product development, customer support and sales. Essex Bay will continue to support Munetrix's unique expertise, excellent customer service, as well as their extensive partnerships like Ed-Fi Alliance and data integrations like the one it has with Michigan Datahub to provide best practice guidance and resources to clients.
"I could not be more proud of the Munetrix team for living our mission and delighting our customers every single day by helping hundreds of K-12 school districts and municipalities on financial planning, budgeting, transparency and academic outcomes" said Buzz Brown, Cofounder and CEO of Munetrix. "We are excited to work with our new partners at Essex Bay who understand and appreciate our core values, and who will support our vision for product innovation and growth, both organically and through acquisitions."
Franklin Foster, Partner at Essex Bay Capital, said, "Munetrix's reputation as a leader and innovator in the financial planning and academic analytics realms is well-earned, as evidenced by its winning of a 2021 CODiE award, an EdTech Breakthrough Award, its ongoing GovTech100 recognition, and the clear demand for the solutions it brings to market. We look forward to partnering with the Munetrix leadership team to continue the company's fast-paced growth and further support its mission, culture and customers."
Additionally, as part of the transaction, Munetrix has added serial GovTech entrepreneur Steve Ressler to its Board of Directors. Steve has held numerous GovTech executives roles, including as President of Callyo, which was recently sold to Motorola Solutions, as well as serving as Chief Marketing Officer of Granicus and Founder of GovLoop. Steve will bring his experience growing GovTech companies to the next phase of growth at Munetrix.
Munetrix, among the nation's largest aggregators of municipal and school district data, promotes municipal wellness and sustainability through its cloud-based data management tools and proprietary performance analytics applications. In partnering with Munetrix, municipalities and school districts are able to manage their data and access cost-effective products and advisory services to make meaningful and reliable budgets, financial projections, academic achievement metrics, trend reports and better-informed forward-looking decisions. More than 300 clients across the country use Munetrix's tools to make more informed financial and business decisions and improve student success. Learn more at www.munetrix.com.
About Essex Bay Capital:
Essex Bay invests in small to mid-sized private companies, partnering with management to accelerate growth. With over 20 years of investing experience, and 70+ completed acquisitions, our team brings more than just capital to the equation. We are long-term investors, focused on creating sustainable value. We build companies, organically and through add-on acquisitions to become market leaders. Partnership and alignment are at the core of everything we do. We pride ourselves on being transparent and supportive with resources, insight and expertise to create win-win opportunities for our partners.