Activant Capital leads a $15 million growth equity investment in Upland Software
The Leading Cloud Provider of Enterprise Work Management Software
GREENWICH, Conn., January 13, 2014-- Activant Capital, a private equity and venture capital firm, announced that on December 20, 2013, it completed a growth equity investment in Upland Software, Inc.
Headquartered in Austin, Texas, Upland is the world's largest cloud provider of enterprise work management applications. Upland provides the only family of best-of-breed cloud products that address the entire enterprise work-span, from strategic planning to work execution. The Company's customers include more than 1,200 enterprises with over 300,000 active users in 50 countries.
It is estimated that as many as 80% of the knowledge workers within an enterprise do not leverage software beyond common office products; that 66% of enterprise workers lack adequate time to properly get their work done; and that 94% are overwhelmed by too much information. Upland helps solve these challenges of the modern workplace by arming both knowledge workers and management with tools to increase productivity, collaborate effectively, manage content, work more efficiently and ensure resources and activities are aligned with strategic objectives.
Upland will leverage the new financing to continue to focus on innovation within its current products, invest in customer success, and pursue strategic acquisitions that extend the breadth and depth of the enterprise work management solutions it can provide to customers.
"Activant Capital has a track-record of helping software companies build upon their success, and we look forward to working with them," said Jack McDonald, CEO of Upland. "We have a massive market opportunity and believe that Activant's industry and operating expertise will help enable us to extend our leadership position in the market."
Steve Sarracino, Manger of Activant Capital, noted, "We are thrilled to join the Upland family. We look forward to working with Jack McDonald and the management team to support their mission of revolutionizing the way organizations plan, manage and execute projects and work."
About Upland Software:
Upland Software is the world's largest cloud provider of Enterprise Work Management software. Upland is the only cloud software provider that offers a comprehensive family of best-of-breed applications that enable organizations to align their goals, projects and programs, optimize their resource utilization and workflows, efficiently manage content and information, and empower teams to collaborate and work effectively. From strategic planning to work execution, Upland drives business results for more than 1,200 enterprise clients with 300,000 active users in 50 plus countries. To learn more, visit www.uplandsoftware.com.
About Activant Capital
Activant Capital is a private equity and venture capital firm investing in technology, software, and data-services companies. Activant's mission is to work with world-class executives to build growing, market leading technology businesses. For more information on Activant and all of its investments, visit www.activantcapital.com.
This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Activant, Upland, and the expected benefits of Activant's investment in Upland. Forward-looking statements are often identified by future or conditional words such as "would," "plans," "expects," "intends," "believes," "seeks," "estimates," or "anticipates," or by variations of such words or by similar expressions. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties, and assumptions, any of which could cause actual results or events to differ materially from those expressed in or implied by the forward-looking statements. These risks and uncertainties include, without limitation, uncertainties regarding Activant's and Upland's ability to realize the expected benefits of Activant's investment in Upland, and issues related to the business of Upland, such as rapidly changing technology and evolving standards within Upland's industry; the ability of Upland to obtain sufficient funding to continue operations, maintain adequate cash flow and profitably exploit new business; and other factors. The forward-looking statements contained in this press release are made as of the date of this press release, and Activant assumes no obligation to revise or update any forward-looking statement.
Activant Capital Group LLC
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