Global Tech Company Makes First Institutional Investment to Accelerate Development of Full Suite of Applications, Continue to Scale Operational Infrastructure and Drive Profitable Growth
SANTA BARBARA, Calif., May 11, 2022–(BUSINESS WIRE)–ProductPlan today announced that it has selected Bow River Capital’s Software Growth Equity (SGE) team to partner with global operational and innovation expertise. Founded nearly a decade ago, the SaaS company develops cloud-based product management systems across all industry verticals and sizes of organizations. The majority investment will allow the company to rapidly accelerate product innovation: strategic product ideation, execution of best-in-class roadmap, comprehensive launch planning, collaboration within the extended community of CEOs product, executives and external partners; and analytics for data decision-making.
Bow River’s EMS team invested approximately two years in conducting market research in the product management system space and recognized the tremendous opportunity offered by ProductPlan’s world-class software solutions and decided to move forward with the majority recapitalization.
Jim Semick, co-founder of ProductPlan, says, “We started the business from day one and unanimously supported the highly differentiated thesis work and major investment of Bow River’s Software Growth Equity team. We are excited to work with their team of operational SaaS veterans and are looking for rapid value creation that will positively impact ProductPlan customers, partners and staff.”
Diana Ciontea, Vice President of Finance and Chief Executive Officer at ProductPlan, said, “The ProductPlan team is delighted to welcome Bow River Capital, a leader in the strategic scaling of lower-middle-market SaaS businesses. , as a partner. We are proud of our culture and have managed to achieve several major milestones; we now have sufficient resources and capital to accelerate growth in all dimensions. »
As part of SGE’s majority investment in Bow River, fund managers Maitlan Cramer and John Raeder will lead ProductPlan’s board of directors.
Maitlan Cramer, Principal of Bow River Capital and member of the SGE team, said: “We have spent a great deal of time analyzing the product management industry and have developed a strong belief for a sea change that is happening. in the product management landscape, and the multiple value propositions of ProductPlan for their global customers and partners. Cramer further stated, “We are excited to be working closely with the company to deploy our SaaS playbook and all of our resources to rapidly grow their software platform, improve their customer success model, and launch a the world-class market. engine.”
Morrison & Foerster LLP acted as legal counsel to Bow River Capital on the transaction.
DA Davidson & Co. was the exclusive financial advisor to ProductPlan.
ProductPlan, backed by Bow River Capital’s Software Growth Equity Fund, is a market-leading, cloud-based product management platform. The company designs and delivers flexible, easy-to-use software systems to manage the entire product lifecycle, from product innovation and crowdsourced ideas, product roadmap, product launch, to seamless integrations easily and affordably. ProductPlan is trusted by businesses of all sizes and across all verticals to shorten time to market, reduce risk, and improve visibility and execution. To learn more, visit www.ProductPlan.com or follow the company on LinkedIn, Facebook or Twitter.
Bow River Capital
Bow River Capital is a Denver, Colorado-based private alternative asset manager focused on lower-middle market investing across three asset classes, including private equity, real estate and venture capital. software growth. In addition to its three private fund platforms, the firm launched the Bow River Capital Evergreen Fund (EVERX) in May 2020, which provides institutional-grade private market access to a wider range of investors. Collectively, the Bow River Capital team has deployed capital across various industries, asset classes and across the capital structure.
Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC, which is not affiliated with Bow River Capital or its affiliates.
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