Starmount Receives Series A Growth Capital from Kayne Partners
AUSTIN, Texas, December 10, 2013-- Starmount, a provider of mobile selling and omni-channel customer engagement solutions for retailers, today announced that it has partnered with Kayne Partners Fund to accelerate the growth of its business. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. a $24 billion alternative investment firm. Financial terms of the deal were not disclosed.
Starmount develops software solutions for mid- to large-sized retailers that combine the richness of the Web and access to enterprise systems to power mobile sales engagements and effectively create more personalized, relevant, and dynamic interactions with customers. Starmount customers include leading retailers such as Urban Outfitters, Anthropologie, Free People, Perry Ellis, Home Depot, Pep Boys and many others. Starmount is headquartered in Austin, Texas — a major hub of technology innovation.
"Starmount is pleased to receive the backing of Kayne Partners," said Joe Halloum, founder and CEO, Starmount. "The retail industry is undergoing disruptive changes due to mobile and omni-channel technologies, and Starmount has demonstrated its ability to deliver best-in-class solutions that capitalize on these trends. The funding we receive will speed our time to market with new solutions that will leapfrog the competition and position us to take full advantage of the tremendous opportunities that exist in retail today."
“Kayne Partners has vast experience providing transformative capital to high growth companies that are at an inflection point,” said Nishita Pawar, vice president, Kayne Partners. “Starmount is one of the clear leaders in mobile and omni-channel retail solutions, and they have demonstrated an impressive ability to execute for top-tier customers. We are excited to partner with Starmount to help drive further innovation and market penetration.”
"Starmount's leadership team is extraordinary," said David Walsh, managing partner, Kayne Partners. "We have spent a great deal of time getting to know them, and we have full trust and confidence in their ability to continue building an exceptional and highly successful company. We look forward to working with Joe and his team."
Starmount software solutions bring the richness of the Web and the power of mobile into the store, where retailers can create more personalized, relevant and dynamic interactions with customers. From mobile selling and cross-channel engagement platforms to digital signage, our retail solutions transform the store environment into a more connected, engaging shopping experience. Headquartered in Austin, Texas, Starmount works with a diverse client base of leading retailers around the world, such as Pep Boys, Urban Outfitters and Home Depot. www.starmount.com
About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $500 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors. www.kaynepartners.com
About Kayne Anderson Capital Advisors, L.P.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, growth private equity and distressed municipal opportunities. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above-average, risk-adjusted investment returns. Kayne manages approximately $24 billion in assets (as of 9/30/2013) for institutional investors, family offices, high net worth and retail clients and employs 230 professionals in eight offices across the United States. www.kaynecapital.com
For Kayne Partners:
Nishita Pawar, 310-282-2800
Kerry Nelson, 512-904-2776
Ketner Group PR + Marketing (PR agency for Starmount)
Jeff Ketner or Sara Lasseter, 512-794-8876
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