Formstack Raises $425M Growth Investment from Silversmith Capital Partners and PSG

Formstack Acquires Open Raven

June 11, 2024

Cybersecurity

Formstack, the workflow and data-capture platform backed by PSG and Silversmith Capital Partners, has acquired Open Raven, a cloud data discovery and security company. The deal will embed Open Raven’s data discovery, classification, and visibility capabilities into Formstack’s workflow platform to improve data security, compliance, and activation; Open Raven CEO Dave Cole will become Formstack’s Chief Technology Officer.

Formstack Acquires Formsite

December 11, 2023

Cloud & SaaS

Formstack, a PSG- and Silversmith-backed workflow automation SaaS provider, has acquired Formsite, a Chicago-area online forms and surveys provider. The acquisition expands Formstack’s data-capture and forms capabilities, giving Formsite customers access to Formstack’s broader workflow automation, document generation, and eSignature tools.

Silversmith Capital Leads $50M Growth Investment in GiveCampus

September 19, 2022

Cloud & SaaS

GiveCampus, a fundraising SaaS platform for educational institutions, closed a $50 million minority growth equity investment led by Silversmith Capital Partners with participation from individual investors Michael Seibel, Claire Hughes Johnson, and Mike Volpe. The capital will fund accelerated product development and hiring and includes a tender offer to provide liquidity to employees.

Silversmith Capital Partners Invests $55M in Gearset

June 22, 2022

Cloud & SaaS

Gearset, a Cambridge-based Salesforce DevOps SaaS provider, has closed a $55 million growth investment led by Silversmith Capital Partners. The funding will be used to expand Gearset's product offering, grow sales and marketing, and scale the team across the US and UK to accelerate adoption of DevOps for low-code teams.

Summit Partners Leads $70M Minority Growth Investment in Formative

June 15, 2021

Education

Summit Partners led a $70 million minority growth investment in Formative, a SaaS-based K–12 student data and assessment platform, with participation from Emerson Collective, Fika Ventures, MaC/Mac Ventures and Rethink Education. The capital will fund product expansion, increased teacher and administrator support, and international growth while Summit’s Tom Jennings joins Formative’s board.

Formstack Acquires WebMerge

April 16, 2019

Cloud & SaaS

Formstack, a Fishers, Indiana–based SaaS workflow and data-collection platform backed by PSG Equity and Silversmith Capital Partners, has acquired WebMerge, a document automation and PDF/Word generation provider. The acquisition expands Formstack Documents’ capabilities by integrating WebMerge’s document generation and existing integrations; all WebMerge employees joined Formstack and WebMerge will remain a supported standalone product.