Luminate Capital Partners Acquires AbsenceSoft from Norwest Venture Partners and Bow River Capital

Luminate Capital Partners Invests in Ease, Inc.

March 7, 2023

Cloud & SaaS

Luminate Capital Partners has made a majority-stake growth investment in Ease, Inc., a San Clemente–based provider of plant floor audit SaaS for manufacturers. The investment will fund product development and global growth while Spotlight Equity Partners, the prior majority shareholder, retains a minority stake.

AbsenceSoft Acquires Presagia

November 30, 2021

Cloud & SaaS

AbsenceSoft, a Golden, Colorado–based provider of absence management SaaS, has acquired Montreal-based Presagia, a cloud-based leave management solutions provider. The acquisition expands AbsenceSoft’s product capabilities, compliance coverage (including Canadian rules), and customer reach to strengthen its leadership in the absence management market.

Bow River Capital and Norwest Venture Partners Recapitalize AbsenceSoft

August 12, 2021

Cloud & SaaS

Bow River Capital’s Software Growth Equity Fund completed a recapitalization of AbsenceSoft with Norwest Venture Partners; terms were not disclosed. Bow River will retain a significant equity stake and a board seat while Norwest joins as a growth equity partner to support continued product and revenue expansion for the cloud-based absence management SaaS provider.

Welsh, Carson, Anderson & Stowe Acquires Absorb Software from Silversmith Capital Partners

April 20, 2021

Cloud & SaaS

Welsh, Carson, Anderson & Stowe (WCAS) has entered into a definitive agreement to acquire Absorb Software from Silversmith Capital Partners in a transaction that values Absorb at greater than US$500 million. Absorb, a Calgary-based cloud LMS provider serving millions of learners globally, will retain founder/CEO Mike Owens and other management as substantial shareholders; WCAS plans to accelerate organic growth, invest in product innovation and pursue strategic M&A.

Luminate Capital Partners Makes Strategic Growth Investment in Axonify

April 20, 2021

Cloud & SaaS

Luminate Capital Partners, a private equity firm focused on enterprise software, announced a strategic growth investment in Axonify, a Waterloo-based leader in frontline employee training SaaS. The capital will be used to accelerate product innovation and other growth initiatives while Axonify continues to be led by CEO and co-founder Carol Leaman; Luminate partners will join the company’s board.

Luminate Capital Partners Invests in MSI Data

September 11, 2019

Cloud & SaaS

Luminate Capital Partners made a strategic growth investment in MSI Data to support product development, scale the team, and accelerate go-to-market efforts for MSI’s field service management SaaS platform. Financial terms were not disclosed; Luminate partners joined MSI’s board and advisors to the transaction included GrowthPoint Technology Partners (financial advisor to MSI) and Kirkland & Ellis (legal advisor to Luminate).