MENLO PARK, Calif., Sept. 11, 2018 /PRNewswire/ -- Rubicon Technology Partners, a private equity firm specializing in mid-market enterprise software company investments, today announced that it has completed the sale of Personify, Inc., the market-leading provider of constituent management and engagement (CME) software solutions to nonprofit organizations, to Pamlico Capital. Terms of the transaction were not disclosed.
"We want to thank our partners at Rubicon for their tremendous support and collaboration, which enabled us to deliver the most scalable, easy-to-use and fully-integrated set of solutions serving the nonprofit industry," said Eric Thurston, President and CEO of Personify. "It has been a pleasure being part of the Rubicon family and working with their team, who provided us with the operational, strategic and financial experience needed to scale Personify to best serve our clients. We are incredibly proud of the growth achieved during our partnership and are better positioned as we enter our next phase with Pamlico."
Personify serves as the technology foundation for associations, charities and health and wellness organizations, allowing them to engage and manage their constituents, maximize revenue and optimize operations. The company is headquartered in Austin, TX and serves over 20,000 nonprofit and member-based clients with offices in North America and Europe.
"We are proud to have partnered with Eric and the Personify executive team as we worked together to build the market-leading software platform serving nonprofit organizations," said Steve Carpenter, Partner at Rubicon Technology Partners. "During our partnership, the Personify team has accelerated core product innovation and expanded the depth and breadth of its software offerings to deliver best-in-class CME solutions to nonprofit organizations of all sizes."
During its five-year partnership with Rubicon, Personify transitioned to a cloud- and subscription-focused software business model by significantly growing its recurring revenue base, significantly increasing profitability, and investing heavily in product development to deliver the most modern technology platform serving the nonprofit industry. Together with Rubicon, the company launched cloud and mobile technology with the Personify360 product suite, completed the strategic acquisitions of Wild Apricot and Small World Labs, meaningfully expanded investment in sales and marketing, and opened a new headquarters in Austin, Texas.
Robert W. Baird & Co. Incorporated served as exclusive financial advisor to Personify. Perkins Coie LLP served as legal advisor to Personify.
About Rubicon Technology Partners
Rubicon Technology Partners invests in enterprise software companies with proven products and talented management teams to help grow and scale their businesses. Rubicon enables companies to adapt to the changing requirements of their businesses as they grow and scale using a proven set of proprietary processes, best practices and a portfolio-wide engagement model called RTP Change Management. With offices in Menlo Park, CA and Stamford, CT, Rubicon has over $850 million in cumulative capital commitments. For more information, please visit http://www.rubicontp.com.
About Personify, Inc.
Personify is a leading solution provider that empowers the best constituent-focused organizations to succeed. Personify offers products and services that enable organizations to acquire, engage and optimize relationships with their constituents. Personify captures and provides insight across all constituent interactions, allowing associations and nonprofit organizations to drive productivity and maximize revenue. For more information, please visit https://personifycorp.com/.
SOURCE Rubicon Technology Partners