LEHI, Utah, Jan. 9, 2019 /PRNewswire/ -- RainFocus, the leading event marketing platform, today announced it has secured a $40 million strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies. The funding will be used to accelerate and broaden product development efforts, expand RainFocus' global organization and further other strategic initiatives.
"The value of our partnership with JMI Equity was immediately apparent," said JR Sherman, CEO of RainFocus. "The culture and team at JMI are uniquely suited and equipped to augment our strong leadership team, guide implementation of scalable infrastructure and fuel our growth. JMI's extensive history of success in the SaaS space made them the ideal partner for the disruptive strategy at RainFocus."
The funding enables RainFocus to focus on strategic growth and development in multiple areas:
- Acquire top industry leaders for the RainFocus executive team.
- Expand teams to further accelerate agile and innovative development of the RainFocus event marketing platform.
- Build a high-performance organization and intelligent growth engine.
The investment builds on a stellar track record of growth since RainFocus' inception in 2014. "With recent success as a benchmark, RainFocus is accelerating with significant and ambitious goals," says Sherman. "This partnership with JMI allows us to achieve our mission and bring SaaS innovation to our industry at an exponential pace."
In conjunction with the investment, David Greenberg and Larry Contrella, general partner and principal at JMI, respectively, have joined RainFocus' Board of Directors. "We're thrilled to partner with the RainFocus team in the next phase of their growth," said Greenberg. Added Contrella, "We see tremendous potential for RainFocus to further transform the event marketing industry through the company's market-leading product and commitment to delivering a significant return on investment to their customers."
RainFocus is the only complete event management platform built from the ground up to service all events from one dashboard. With rapid event deployment, personalized marketing and comprehensive access to all event data, RainFocus enables visionary teams to plan, deliver and optimize their events like never before. The company was founded in 2014 and is headquartered in Lehi, Utah. Learn more at RainFocus.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 140 businesses in its target markets, successfully completed over 90 exits and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
For JMI Equity