Mainsail Partners and Founders to Remain Substantial Shareholders
SourceScrub, a market leading private company intelligence platform for the financial services industry, today announced a strategic growth investment from Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses. Existing investor Mainsail Partners and SourceScrub’s founders and management will remain significant equity holders in the company, which has grown rapidly over the last several years.
The investment will help drive SourceScrub’s expansion into new markets and new customer segments in addition to continued product development to best serve customers across private equity, venture capital, investment banking, corporate development, and other industries. With over 160 million private company data points and 1.7 million companies covered, SourceScrub’s platform leverages private company data channels, including conference lists, buyer guides, fundraise news, industry classifications, best-of lists, and job postings to build its powerful data asset, which is invaluable to customers for sourcing, qualifying, and tracking private companies.
Tyler Fair, SourceScrub 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 deal-making. 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,” 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.”
The transaction is expected to be completed in Q4 subject to customary closing conditions. Financial terms are not being disclosed.
Raymond James served as financial advisor and Wilson Sonsini Goodrich & Rosati served as legal advisor to SourceScrub. Kirkland & Ellis LLP served as legal advisor to Francisco Partners.
SourceScrub, LLC is a market-leading data service for investment and M&A firms looking to research, find and connect with privately-held companies. Founded in 2015, the SourceScrub platform has over 160M data points on private companies and combines the most advanced technologies with a Data Operations team of over 600, to ensure the highest quality signal. In 2020, SourceScrub was recognized by Inc as one of the top 600 fastest growing companies in the United States.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
Mainsail Partners is a growth equity firm with offices in Austin and San Francisco that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.