Fulcrum Equity Partners Successfully Exits SaaSOptics to Battery Ventures
Summary
Battery Ventures led a combined majority growth-equity investment of more than $150 million in SaaSOptics and Chargify, two complementary cloud-based platforms that together manage more than $10 billion in customer annual recurring revenue. “We launched SaaSOptics to fill a clear market devoid of financial systems specifically designed to address the unique requirements of subscription businesses” says Alston Gardner, Fulcrum Co-Founder and Venture Partner that was an initial angel investor in the Company. “Their platform has the unique advantage of allowing other SaaS companies to optimize their financial operations, leading to streamlined and accurate reporting.” “We could not have gotten to this point without the support and insight offered by the team at Fulcrum,” according to SaaSOptics CEO Tim McCormick. “Our combined vision to build a leading financial operations platform along with Battery’s wealth of experience in growing financial-technology companies will drive an increased value proposition for our customers.” “It has been a pleasure working with the team at SaaSOptics for the past three years,” says Jeff Muir, a Partner at Fulcrum. A cloud-based solution, the SaaSOptics platform allows businesses to pull accurate SaaS metrics and analytics quickly, scale billing and payments smoothly and automate GAAP/IFRS-compliant revenue recognition.
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