2021 Year In Review

We believe 2021 was a year of growth and action for Mainsail Partners, buoyed by the resilience and tenacity displayed by our portfolio of software companies.

While supporting our portfolio companies to achieve growth, Mainsail itself made important strides, including opening a second office in Austin, Texas and expanding our team of investment and operating professionals.

We closed out a busy year prepared to support software founders in amplifying growth while preserving and enhancing their culture and customer-first approach that helped them achieve success in the first place.

2021 Highlights

Completed 7 Company Exits/Recaps and 1 IPO

Acquired by Advarra

March 2021

Recapitalization

March 2021

Acquired

April 2021

Acquired by ServiceTitan

August 2021

Acquired by Inhabit IQ

August 2021

Initial Public Offering

September 2021

Recapitalized by Francisco Partners

October 2021

Acquired by Trella Health

December 2021
View All Companies

Completed 3 Software Platform Investments

Language Interpretation
Management Software

June 2021

Legal Practice
Management Software

July 2021

Fire & Safety
Management Software

December 2021
View All Companies

Completed 9 Add-On Acquisitions

Aspire Software acquires Crew Control

January 2021

GTreasury acquires Coprocess

March 2021

3PL Central acquires Skubana

April 2021

ResMan acquires Investor Deal Room

June 2021

Syncro acquires Watchman

June 2021

Centerbase acquires Family Law Software

August 2021

3PL Central acquires Scout Software

August 2021

3PL Central Acquires CartRover

November 2021

GTreasury acquires Hedge Trackers

December 2021

We Opened a New Office in Austin, TX

We Were Recognized Across the Industry with
Awards & Acknowledgements

Mainsail Named an Inc. Founder Friendly Investor

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Mainsail Named a Top 25 Private Equity Firm for Growth Companies

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Mainsail Partners Nominated as a PE Leader in Talent

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Jason Frankel Named Rising Star by Mergers & Acquisitions

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Vinay Kashyap Named one of GrowthCap’s Top 40 Under 40

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View All News

Value Creation Within Our Portfolio

Throughout 2021, Mainsail's dedicated team of operating professionals worked alongside the management teams of our portfolio companies to help drive growth. In addition, we provided several opportunities for networking,
growth and education.

Executive Recruitment

Networking & Best Practices

Hosted 6th Annual CEO Summit

38 CEOs and Board Members were in attendance at the summit in Park City, Utah. Key topics that we discussed included:

  • M&A Strategies
  • Building Strong Cultures
  • Ops Team Case Studies

Hosted 6 expert webinars

With topics including:

  • Outbound Sales with Sally Duby of the Bridge Group
  • Diversity Recruiting with Bethany Coates and Eldrin Deas
  • Tracking Key SaaS Metrics with Cherry Bekaert
  • Product Position with April Dunford

Produced 11 new playbooks and tools for portfolio

On topics including:

  • Leadership
  • Leading Effective Performance Reviews
  • Hiring for Diverse Talent
  • Payments Pricing Model
  • Sales Development Capacity
  • Cohort Analysis Model

Expansion Within Mainsail

We Welcomed 9 New Members to Our Team

Julio Palacio

Chief Technology Officer

Aeri Miller

Director of Finance

Megan Heinz

Director of Revenue Operations

Holly Hernandez

Operations Analyst

Apoorva Polisetty

Talent Analyst

Nana Lannutti

Talent Analyst

Erin Sedloff

Associate General Counsel

Jeremy Jones

Associate

Andre Nordan

Associate

And Celebrated 11 Internal Promotions

Emily Azevedo

Operating Partner

David Farsai

Partner

Jason Frankel

Partner

Rebecca Glatt

Director of Talent

Cleo Nguyen

Director of Compliance

Matthew Solomon

Senior Revenue Operations Manager

Tate Cook

Senior Manager FP&A

John Matthew

Senior Manager

Sarita Ray

Senior Marketing Manager

Paul Meyer

Senior Associate

Kathy Tran

Executive Assistant
Full Team

Mainsail Supporting Our Community

At Mainsail, we believe our success is due in large part to prioritizing and nurturing our own culture. Our core values and collaborative environment allow us to set clear objectives, work to achieve them and then celebrate our accomplishments together.

In 2021, Mainsail has donated $80K to various non-profit organizations

Some Organizations We Have Supported:

Commitment to Diversity, Equity & Inclusive

Diversity, Equity and Inclusion was a major focus for Mainsail in 2021. DEI speakers educated Mainsail on a variety of topics, including unconscious bias and allyship. We learned how to be an ally, and about D&I investment, belonging, authenticity and cultural competency.

Speakers We Welcomed Included:

Quinetta Roberson

Topic: Allyship and unconscious bias

Aslyn Teague

Topic: Cultural competency, authenticity and belonging

Rachel Williams

Topic: D&I Investment and call to action

Our Portfolio

We are proud to partner with and support these companies as they continue to evolve and expand.

From all of us at Mainsail, thank you for your continued support. We look forward to 2022 and the opportunities it brings.

Investment Parameters Contact Us

The year in review does not constitute an offer to sell or the solicitation of an offer to purchase any security. The information herein is not presented with a view to providing investment advice with respect to any security, or making any claim as to the past, current or future performance thereof, and Mainsail Management Company, LLC (“Mainsail” or “Mainsail Partners”) expressly disclaims the use of this content piece for such purposes. The information herein is not and may not be relied on in any manner as, legal, tax, business or investment advice.

Third-party images, logos, and references included herein are provided for illustrative purposes only. Inclusion of such images, logos, and references does not imply affiliation with or endorsement by such firms or businesses.

The industry awards shown herein were awarded by third parties not affiliated with Mainsail or an investor in Mainsail Partners-sponsored vehicles. The number of nominees reviewed for each of the awards and number of award recipients (unless otherwise noted) were not available to Mainsail, and therefore, those numbers and the percentages of nominees that received each award, cannot be disclosed herein. The awards were given based on the applicable awarder’s own evaluation and opinion and such awards are not indicative of Mainsail’s future performance and do not reflect the experience of, or any rating by, Mainsail investors, or clients, and generally do not relate to investment advisory services to clients. There can be no assurance that other providers or surveys would reach the same conclusions as the awarders discussed herein.

The 2021 Top Founder-Friendly Investors recognition presented herein is awarded by Inc. The recognition was awarded on 10/5/21 for the period 2021.  Inc. requested nominees provide them with a certain number of entrepreneur references, and Inc. independently assessed the nominees based on responses to a questionnaire by such entrepreneur references. Mainsail Partners paid an application fee to participate in this process. The receipt of compensation influences, and is likely to present a potential conflict of interest, relating to the rating.

The Top 25 Private Equity Firms for Growth Companies of 2021 recognition presented herein is awarded by GrowthCap. The recognition was awarded on 8/30/21 for the period 2021. GrowthCap assessed nominees based on written responses to questions on GrowthCap’s nomination form. GrowthCap also took into consideration third-party feedback from CEOs, executives, and other professionals. Mainsail Partners paid a fee to distribute the GrowthCap Top 25 Private Equity Firms for Growth Companies of 2021 results. The receipt of compensation influences, and is likely to present a potential conflict of interest, relating to the rating.

The recognition from Entromy and Talentscape Partners as a leading private equity firm in talent presented herein is awarded by Entromy and Talentscape Partners. The recognition was awarded on 8/10/21 for the period 2021. Entromy and Talentscape Partners independently assessed nominees based on a survey they created and peer nominations. There were 42 nominees reviewed for this recognition and 48% of nominees received the recognition.

The 2021 Rising Stars of Private Equity recognition presented herein is awarded by Mergers & Acquisitions. The recognition was awarded on 7/23/21 for the period 2021. Mergers & Acquisitions independently assessed nominees based on such nominee’s and a sponsoring colleague’s written responses to questions on its application form.

The Top 40 under 40 Growth Investors of 2021 recognition presented herein is awarded by GrowthCap. The recognition was awarded on 12/21/21 for the period 2021. GrowthCap assessed nominees based on written responses to questions on GrowthCap’s nomination form and other information, including on breadth of experience and performance metrics. GrowthCap also took into consideration third-party feedback from CEOs and other executives. Mainsail Partners paid a fee to distribute the GrowthCap Top 40 under 40 Growth Investors of 2021 results. The receipt of compensation influences, and is likely to present a potential conflict of interest, relating to the rating.

Diversity is defined as female or ethnic/racial diversity, based on Mainsail Talent Team identification.

Percentage of repeat talent is calculated as the number of positions held by a person who had previously served at a Mainsail portfolio company divided by total placements made from a Mainsail led search or introduction in 2021 (i.e., 11 positions were held by repeat talent out of 35 total placements made from a Mainsail led or introduction). There can be no assurance that any historical recruiting trends will continue.

The portfolio companies identified do not represent all of the investments made or recommended by Mainsail and were not selected based on the performance of such investments. Rather, they were selected as representative examples that clarify and typify Mainsail’s investment approach. These investments are meant to show a portion of the Mainsail portfolio and are not intended to be representative of any current or future investments. There can be no assurance that any investment vehicle managed by Mainsail will be able to consummate investments with the same or similar characteristics to the portfolio companies described herein, or that, if consummated, such investments will be profitable.

Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of terms such as “may,” “will,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “projects,” “future,” “targets,” “intends,” “plans,” “believes,” “estimates” (or the negatives thereof) or other variations thereon or comparable terminology. Forward looking statements are subject to a number of risks and uncertainties, which are beyond the control of Mainsail. Actual results, performance, prospects or opportunities could differ materially from those expressed in or implied by the forward-looking statements. Additional risks of which Mainsail is not currently aware also could cause actual results to differ. In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements. The forward-looking events discussed in this content piece may not occur. Mainsail undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

References to “highlights”, “value creation” or any value provided by Mainsail and other related information is based on the opinions and beliefs of Mainsail regarding Mainsail’s contributions and the drivers of value. Any determination as to the driver of value is inherently subjective, and there can be no assurance that other third-party analyses of this data would reach the same conclusions as those provided herein or would not attribute returns to other factors such as general economic conditions.

No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in the enclosed materials by Mainsail and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. For additional important disclosures, please click here.