SignUpGenius Announces Strategic Investment by Providence Equity
Online SaaS Site Positions for Further Growth and the Expansion of Organizing Capabilities for Customers
CHARLOTTE, N.C. — SignUpGenius, the leading online sign up site for event and volunteer management, today announced a strategic majority investment by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm with $50 billion in assets under management. Terms of the transaction were not disclosed.
Since its founding in October 2008, SignUpGenius has helped define how people organize groups online. Originally popular among parents of school-aged children who managed their families’ school, sports and faith-based events, SignUpGenius now serves numerous organizations, businesses and colleges, saving valuable time and resources through the application of its unique tool.
“SignUpGenius is excited to partner with PSG to accelerate our growth,” said Dan Rutledge, CEO of SignUpGenius, and Angel Rutledge, COO and CMO of SignUpGenius. “We’re committed to providing the premier organizing tool to help groups accomplish their world-changing missions, and PSG has the expertise and resources to greatly expand our ability to serve our customers. We’re looking forward to the additional opportunities that our partnership will bring.”
Now serving 8 million to 12 million monthly site users, SignUpGenius continues to focus on its mission to empower people to change the world by making it simple to organize groups. The company released SignUpGenius Pro, a premium features subscription, and SignUpGenius Payments, a product to collect money on sign ups, in 2013. The increased functionality has fueled further user base growth as larger and more complex events could be managed simply.
PSG focuses on growth equity investments in lower middle-market software and technology-enabled service companies, primarily in North America. The partnership with SignUpGenius is in line with its goal of finding disruptive software companies poised for further expansion.
“SignUpGenius has an exciting product in an attractive space, led by an excellent management team,” said Matt Stone, Vice President of Providence Strategic Growth. “We are excited to partner with Dan, Angel and their team to help them further their unique market position while leveraging our experience in realizing significant growth for our portfolio companies through expansion of capabilities and customers.”
Canaccord Genuity acted as exclusive financial advisor and Wyrick Robbins Yates & Ponton acted as legal counsel to the SignUpGenius shareholders in connection with the transaction. Weil Gotshal & Manges acted as legal counsel to PSG.
About Providence Strategic Growth
Posted by Ashley Kaufman
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