Cloud & SaaS Acquisitions in Iowa

Navigate Wellbeing Solutions, an employee wellbeing technology company based in West Des Moines, partnered with McCarthy Capital in a growth investment to accelerate product development, team expansion, and strategic acquisitions. The partnership provides capital and operational support to expand Navigate's reach—the company reports nearly two million subscribed users.

Applied Data Corporation, rebranded as Upshop, has acquired Itasca Retail to expand its total store operations platform by adding inventory intelligence and replenishment capabilities. The deal, announced in September 2022 on Prairie Capital's site and Upshop/PR channels, integrates Itasca's Magic Inventory Intelligence into Upshop's cloud-based SaaS platform to improve on-shelf availability and streamline retail ordering.

OpenGov has acquired Cartegraph, a provider of operations and infrastructure asset management software for public agencies, from Pamlico Capital. The deal brings Cartegraph's asset and work management capabilities into OpenGov's government cloud to expand its product suite for local and state governments; OpenGov is backed by Cox Enterprises and Cartegraph was a Pamlico Capital portfolio company.

Funds managed by Stone Point Capital have made a majority investment in Businessolver, the West Des Moines–based SaaS benefits technology provider. Existing investors Warburg Pincus and JMI Equity remain invested as the company prepares to accelerate product development, expand data science and engineering capabilities, and grow its U.S. footprint.

Resurgens Technology Partners has made a strategic (platform) investment in AgencyBloc, a Cedar Falls–based provider of cloud-based agency management software for independent insurance agencies. The partnership will fund product development, go-to-market expansion and team growth; terms were not disclosed and Morgan Partners served as exclusive financial advisor to AgencyBloc.

GI Partners, through its GI Data Infrastructure Fund, has acquired a controlling interest in LightEdge, a Des Moines–based provider of colocation, cloud and managed services. The investment—sourced from GI Partners’ data infrastructure strategy—will support LightEdge’s growth and expand its cloud and colocation capabilities; LightEdge was previously majority‑owned by The Anschutz Corporation.

Pamlico Capital completed a growth equity investment in Fastpath Solutions, a Des Moines–based provider of cloud-based governance, risk and compliance (GRC) software. Founder and CEO Andy Snook and management retain a significant ownership stake; Pamlico will help scale the business by accelerating sales and marketing and broadening the product set and ERP coverage.

365 Retail Markets, a Providence Equity Partners-backed provider of self-service commerce technology, has acquired FullCount, a cloud-based POS software platform for senior living communities. FullCount is headquartered in Ankeny, Iowa and is trusted by over 500 senior living communities; the acquisition expands 365 Retail Markets' capabilities and vertical reach into senior living dining and resident commerce.

SNH Capital Partners has acquired ProMax, a Davenport, Iowa–based SaaS provider of marketing services and credit data for automotive retail dealers. The acquisition, terms undisclosed, expands SNH's presence in retail automotive solutions alongside its portfolio companies such as National Credit Center and gains ProMax's product and management capabilities.