Cloud & SaaS Acquisitions in Tennessee

Zeta Global has completed the acquisition of Marigold's enterprise software business (including Marigold Loyalty, Cheetah Digital, Selligent, Sailthru, Liveclicker, and Grow) for aggregate consideration of up to $325 million. The deal expands Zeta's AI marketing platform capabilities across loyalty, omni-channel engagement, and personalization, broadening its enterprise customer base and subscription revenue streams.

HealthStream (Nasdaq: HSTM) acquired Virsys12, a provider-data-management and credentialing software vendor, to expand its Network by HealthStream credentialing application suite for payers and health plan enterprises. The deal was for up to $17 million in cash (with earnout and post-closing working capital adjustments), and HealthStream will integrate Virsys12's V12 Enterprise application and managed services into its hStream Platform and Professional Services offering.

AnyCreek, an AI-powered booking and business-management platform for guided outdoor experiences, has acquired Origin, a vertical software provider serving outfitters and guides. The deal brings Origin's guide-first capabilities onto AnyCreek's platform, expanding product functionality and creating a combined AI-powered vertical SaaS offering for the outdoor industry across all 50 U.S. states.

Thoma Bravo has announced a strategic growth investment of more than $100 million in HubSync, a Franklin, Tennessee–based tax and accounting SaaS platform. The capital will be used to accelerate HubSync’s product roadmap, customer service, and overall growth as it scales within the CPA and accounting-firm market.

Subsplash has acquired Pulpit AI and integrated the AI-powered sermon content platform into the Subsplash engagement platform. The deal adds AI-driven content creation capabilities to Subsplash’s mobile SaaS tools for churches, enabling automatic generation of social clips, study guides, newsletters and other repurposed sermon content.

Inhabit, a PropTech company providing property management software, secured a preferred equity investment led by Blackstone Tactical Opportunities with an additional investment from Greater Sum Ventures. The funding will support product development, expand capabilities, and accelerate Inhabit's growth across the residential and vacation property management markets.

Commify, the PE-backed global messaging platform, has acquired Chattanooga-based Text Request to strengthen its U.S. presence. Backed by ECI Partners, the add-on deal brings a fast-growing SaaS business with ~40 employees, ~7,500 customers and nearly $15m ARR into Commify’s portfolio while keeping operations in Chattanooga.

Pamlico Capital has made a growth capital investment in ClarisHealth, the provider of the Pareo enterprise payment integrity platform used by health plans. The funding will be used to scale operations, accelerate product innovation and expand ClarisHealth's market position; ClarisHealth was previously backed by Powered Health and Bengal Health Ventures.

Accel-KKR, a technology-focused private equity firm, made a significant capital investment in Ntracts to support product innovation and accelerate go-to-market growth for the healthcare contract lifecycle management provider. The partnership will fund Ntracts' market expansion and product development; Brentwood Capital Advisors acted as exclusive financial advisor to Ntracts.

Mews, the hospitality cloud platform, has acquired Nashville-based startup Nomi and will fold Nomi's AI-driven guest personalization and recommendation capabilities into Mews Guest Journey. The acquisition, managed by Mews Ventures, strengthens Mews' ability to deliver hyper-personalized guest experiences and real-time customer insights for hoteliers.

Guesty, the California-based property management software company, has acquired Nashville-area vacation rental tech platform StaySense. StaySense's marketing and booking technology will be integrated into the Guesty platform to enable direct bookings, additional distribution channels, and enhanced marketing tools for Guesty's customers; the StaySense team will remain in its Nashville/Franklin headquarters.

Charlesbank Capital Partners' Technology Opportunities Fund has made a majority investment in Titan Cloud, with existing investor M33 Growth also making a significant follow-on investment. The funding will support Titan Cloud's organic growth, product and GTM expansion, and M&A-driven scale; Lincoln International advised on the transaction.

FLASH, the cloud parking software provider headquartered in Austin, Texas, has acquired Ballparc, a Nashville-based developer of event parking revenue control and enforcement systems. The deal brings Ballparc's event parking and enforcement products into FLASH's cloud parking and mobility platform, expanding FLASH's product portfolio and capabilities for sports, entertainment, municipal and campus parking operators.

Mission Cloud Services, an AWS-focused cloud managed services provider, has acquired Nashville-based Dozen Software to expand its application development capabilities on AWS. Dozen Software's leadership will join Mission's AppDev practice, providing additional engineering capacity to accelerate Mission's AppDev growth and better serve customers across industries.

Greater Sum Ventures (GSV) led a majority strategic growth investment in Vehlo, joined by existing investors PSG, HarbourVest Partners and Parkwood, and new investor Lightyear Capital. The financing will support Vehlo’s product innovation, customer success initiatives and additional add-on acquisitions as it expands its cloud-based software and fintech solutions for the automotive repair industry.

SurePoint Technologies, a leading cloud provider of financial and practice management solutions for law firms, has acquired Coyote Analytics to expand its legal market offerings and combine complementary CRM, financial, and practice management functionality. The acquisition will enable SurePoint to integrate Coyote's analytics and design expertise, build a cloud-based version of Coyote Analytics, and accelerate development of AI-enabled capabilities for law firms.

HST Pathways, a Bain Capital company and provider of end-to-end software for ambulatory surgery centers, has acquired Simplify ASC, a Nashville-area software firm offering revenue cycle management and ASC management tools. The deal expands HST Pathways' ASC product suite and combines product development efforts to accelerate innovation and improve outcomes for ambulatory surgery center customers.

RedTeam Software has acquired paskr, a cloud-based construction management platform, to broaden its suite of project and field management solutions for small and mid-sized commercial contractors. The transaction is supported by a recapitalization of RedTeam by Braemont Capital and JettyCove to fund the acquisition and further growth; financial terms were not disclosed.

Ambition, a Chattanooga-based sales coaching and gamification SaaS provider, received a growth investment from Primus Capital as part of a Series B financing to accelerate product and go-to-market expansion. The funding will support Ambition's continued growth after hiring 26 employees in 2021 and expanding its footprint with integrations like Microsoft Teams and a growing Fortune 500 client base.

Agility Recovery has acquired BOLDplanning Inc., a Nashville-based provider of web-based continuity planning tools and consulting for COOP, EOP, BCP, and hazard mitigation. The deal adds BOLDplanning's public-sector planning software and subject-matter experts to Agility's Agility Central suite, expanding Agility's capability to serve government, education, healthcare, and business customers.

Atlantic Street Capital has acquired Uniguest, a provider of secure content management software and managed digital engagement services. Comvest Credit Partners provided a $190.0 million senior secured credit facility to support the acquisition.

RLDatix, a global provider of patient-safety and governance, risk and compliance (GRC) software, has acquired Ecteon, a Brentwood, Tennessee-based provider of contract lifecycle management (Contraxx) solutions. The acquisition expands RLDatix’s contract management capabilities within its Applied Safety Intelligence framework and strengthens its GRC offering across healthcare, insurance and life sciences customers.

Momentum Telecom completed its acquisition of Altus Technology, a Nashville-based provider of cloud-based unified communications solutions. The deal expands Momentum's UCaaS and managed network offerings and integrates Altus' team and customers into Momentum's global managed cloud services platform; terms were not disclosed.

Bloomerang, a cloud-based donor management and fundraising software provider, has acquired Kindful, a Nashville-based nonprofit fundraising and donor management platform known for online giving and third-party integrations. The acquisition combines Bloomerang's donor engagement insights with Kindful's online giving capabilities to expand product functionality and better serve small and mid-size nonprofits.

Brightree has agreed to acquire SnapWorx, a Brentwood, Tennessee-based SaaS provider of patient contact management and workflow automation for the CPAP resupply market. The deal (financial terms not disclosed) will combine SnapWorx's platform with Brightree ReSupply to expand CPAP resupply capabilities and automate documentation and patient engagement; SnapWorx's ~40 employees will join Brightree and President Emmet Seibels will continue to lead the SnapWorx business.

Gryphon Investors, a San Francisco-based middle-market private equity firm, has acquired Ncontracts, a Nashville-based provider of cloud-based risk, vendor and compliance management software for financial institutions. Mainsail Partners, which invested in Ncontracts in 2015, sold the company; Michael Berman will remain CEO and several Gryphon software executives will join Ncontracts' board. Terms were not disclosed.

Sedgwick has acquired G&E Enterprises, the developer of the T&M Pro SaaS billing and data management system for insurance restoration contracting. The acquisition brings G&E's software and staff into Sedgwick to strengthen the firm's commercial property support, estimate review and bill-review capabilities for carriers and contractors.

Brighton Park Capital acquired a majority stake in Relatient as part of a recapitalization and provided significant growth capital to accelerate the company's product development and customer growth. The investment positions Relatient to hire additional employees, expand its patient-engagement platform, and includes Eric A. Spiegel joining Relatient's board as chairman.

Fortive Corporation has acquired Censis Technologies, a Franklin, Tennessee-based provider of SaaS surgical instrument tracking and sterile processing workflow solutions, from The Riverside Company. Riverside said it executed a value-creation plan during its ~5-year hold—growing the sales team, completing an add-on (Applied Logic) and materially expanding hospital penetration—before selling the business to Fortive.

Warburg Pincus has acquired Qualifacts, a Nashville-based provider of cloud-based electronic health record (EHR) software for behavioral health and human services, from prior investor Great Hill Partners. The investment will support accelerated product development, expanded sales and marketing, and pursue strategic relationships and acquisition opportunities to grow Qualifacts' market presence.

Marlin Equity Partners completed a majority recapitalization and growth investment in Skuid, a Chattanooga-based no-code, cloud application development platform. The investment will support Skuid’s expansion of web and mobile application development capabilities and accelerate its growth with enterprise customers.

Marlin Equity Partners has acquired Asentinel, a Memphis-based provider of Telecom Expense Management (TEM) SaaS software and services. Marlin intends to support Asentinel's growth and expand its TEM offering and market reach.