The fast-growing legal practice management software plans to invest growth capital in product-driven innovation for law firms.
DALLAS, TEXAS (August 23 , 2021) — Centerbase, a legal practice management software company based in Dallas, has received an investment from Mainsail Partners, a growth equity firm that exclusively invests in fast-growing, bootstrapped software companies. Centerbase’s cloud-based platform is highly configurable and includes native accounting, billing, timekeeping, matter management, document management, client communication tools, and reporting, allowing mid-sized law firms to streamline daily tasks and manage firm operations.
The company intends to use the growth capital to, enhance its product offerings, expand its management team, and invest in customer success to deliver value for the growing pool of law firms migrating away from lightweight SaaS solutions, and legacy, on-premise practice management solutions.
“We have spent the past seven years building a robust practice management solution for the legal sector,” says Centerbase CEO and founder, John Forbes. “Between our powerful billing functions, our integrated accounting solution, and our enhanced configurability, we were confident that our product was a stand-out. We also knew our growth goals were outpacing our internal resources. After several months of diligence, we chose to partner with Mainsail Partners based on their reputation for helping companies like ours. We are excited to leverage their experience in this next phase of growth.”
“The pace of innovation coming out of Centerbase reflects their commitment to their customers, as well as their ability to understand the needs of the legal market,” says Taylor McKinley, Partner at Mainsail Partners. “This unique blend of innovation and customer focus is just one of the reasons we are so excited to partner with this team.” Jason Frankel, Principal at Mainsail, added, “We believe that Centerbase is poised to transform the practice management market with their customer-first approach. We are thrilled and fortunate to partner with the entire Centerbase team.”
Since 2003, Mainsail Partners has raised more than $1.3 billion of committed capital and invested in more than 50 bootstrapped companies throughout the United States. In June, the firm opened a second office in Austin, Texas, increasing its proximity to Texas-based innovators like Forbes. Centerbase was founded in 2015 by CEO, John Forbes, and was born out of Progression Technologies, a previous venture also founded by Forbes. Currently, the company has 46 employees and is headquartered in Dallas, TX.
Gavin Turner, Co-Founder and Managing Partner at Mainsail, McKinley, and Frankel will join the board of directors at Centerbase.
About Centerbase
Centerbase is a cloud-based legal operations system that empowers midsize law firms to run their practice with confidence. It’s a highly scalable and configurable system that liberates legal teams from manual work by automating routine tasks and connecting them in a single collaborative work space. Boasting a comprehensive feature set of billing accounting and practice management tools plus the ability to offer full-history data migrations Centerbase has become the go-to solution for midsize law firms. For more visit www.centerbase.com.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in San Francisco and Austin 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.