Teakwood Capital Makes Equity Investment to Accelerate Prodagio Software’s Expansion

DALLAS Texas, February 26, 2013-- Teakwood Capital, a Dallas, Texas private equity firm, is pleased to announce a major growth equity investment in Prodagio Software, an established leader in Accounts Payable Automation and Contract Management solutions. The investment will help Prodagio further accelerate growth through continued product innovation, expanded sales coverage and leveraged marketing efforts to reach additional markets and customers around the globe.

Managing invoices and contracts effectively is a common problem faced by most corporations. However, the needs and processes involved are complex and as unique as the customer. Prodagio Software, headquartered in the Houston area, addresses this market need with its powerful yet flexible and easy-to-use Accounts Payable Automation (Prodagio AP) and Contract Management (Prodagio Contract) solutions.

“Prodagio Software empowers customers with innovative solutions that are designed to deliver meaningful, real time business information and facilitate business decisions that directly improve their operations and balance sheet," stated Mara Henderson, CEO and founder of Prodagio Software. "With Teakwood’s support, we will accelerate the speed at which companies around the globe will be able to take advantage of our innovative, industry-leading solutions.”

Prodagio offers both on-premise and cloud (SaaS) software solutions to meet the needs of their customers, including leading companies in the Healthcare, Retail, Government, Media & Entertainment, Energy, and Consumer Goods sectors. Prodagio's cross-industry experience has been particularly valuable to companies looking to lower risk and achieve greater value across their complex business environments. In fact, according to their Fortune 500 customers, the software has helped them achieve immediate financial benefits, unlock operational savings, increase visibility, create stronger internal controls, and truly transform business operations.

“Prodagio has developed a unique and differentiated technology platform to automate and streamline critical business processes. The strength of their solution is validated by their marquee customers and the accolades they have gathered. We are excited to partner with Mara and her stellar team to build the next great software company in Prodagio,” said Shawn Kelly, Managing Director of Teakwood Capital.

About Teakwood Capital

Teakwood Capital is a Dallas, Texas private equity firm that provides comprehensive equity financing in support of management teams aspiring to buy and grow companies. The firm's Managing Directors bring over 160 years of combined operational and financial expertise to assist companies in reaching their full potential. Teakwood invests primarily in profitable businesses in Texas and neighboring states, with revenues under $25 Million.

About Prodagio Software

Since 1997, Prodagio Software has provided the most powerful and easy-to-use Accounts Payable Automation and Contract Management solutions to the world’s largest corporations and leading government organizations. Prodagio’s innovation is to deliver out-of-the-box software applications that are highly intuitive and easy to get started; on-premise or via Cloud. With over 40 million invoices and contracts processed through Prodagio’s applications globally every year, Prodagio continues to hold the position as the leading provider of procure to pay and contract management business solutions.

News Index

Downloadable Venture Capital Database