Today we are announcing that we have teamed up with a new investment partner, Francisco Partners, to drive our continued growth and leadership in Private Company Intelligence. What makes the news even better is that our relationship with Mainsail Partners will continue, and they will remain significant equity holders in the company.
Francisco Partners is a leading global PE growth firm that specializes in technology businesses. With $24 billion of capital raised to date and more than 110 portfolio companies, they are one of the largest and most active technology-focused private equity firms in the world.
The investment will help accelerate Sourcescrub's expansion into new markets and new customer segments, in addition to continued product development for our customers across private equity, venture capital, investment banking, corporate development, and other industries.
Tyler Fair, Co-Founder and CEO, said: "We are thrilled to announce this new investment from Francisco Partners, which will allow Sourcescrub to double-down on its position as the essential platform for data-driven sourcing and dealmaking. Across the board, our customers are dealing with increasing competitive dynamics, and with this new investment, Sourcescrub can provide an even greater level of private company insights to keep up with the private market's demand for better performance."
Prescott Nasser, Sourcescrub Co-Founder and President, added: "We believe with this partnership we will continue to build on our product leadership and further extend and enhance Sourcescrub's leading offering across use cases while also significantly expanding our customer base."
Peter Christodoulo, Partner at Francisco Partners, said: "Sourcescrub's market leadership, incredible culture, and dedication to its customers create a unique and powerful platform for growth. We are extremely excited to partner with the Sourcescrub team to accelerate the growth of all aspects of the business."
"It has been both gratifying and exciting to be a part of Sourcescrub's growth over the last few years as both an investor and a customer,"¬ù commented Gavin Turner, Co-Founder and Managing Partner at Mainsail Partners. "Sourcescrub has built what we believe is the highest quality private company database in the industry, and we are proud to continue our partnership with Tyler Fair, Prescott Nasser and the rest of the team as the company continues its growth story."
You can read the complete press release here.