Mainsail Partners

2023 Year In Review

2023 was a significant year for Mainsail Partners. We celebrated 20 years of partnering with founders with the goal of building industry-leading software companies. Looking back on the milestones and accomplishments of the past two decades, it is gratifying to see the impact we’ve made working with bootstrapped B2B software companies. Below is a recap of 2023, as we look forward to another year.

  • 4 Software Platform Investments

  • 10 Add-on Acquisitions

  • 11 New Team Members

  • 140+ Portfolio Operations Projects Completed

Portfolio Updates

4 Software Platform Investments

Software for Machine Shops

Mainsail Invested $32 MILLION

Compliance Software for Financial Institutions

Mainsail Invested $51 MILLION

Software for Commercial Laundries

+1 TBA

To Be Announced

10 Add-on Acquisitions

Acquired by

Acquired by

Acquired by

Acquired by

 

 

Acquired by

 

+5 TBA

To Be Announced
Investments

1 Recap

Recapitalized by

Value Creation

In 2023, we offered hands-on support to our portfolio companies in the form of recruitment, advice and projects. Our Operations Team is purpose-built for this work, and the results were meaningful.

44 Executives Hired Across Portfolio
140+ Projects Completed
1900+ Portfolio Advisory Calls

Events & Thought Leadership

In our 20-year history, Mainsail has built a robust and diverse network of friends, partners and experts. Through our programs and content, we strive to contribute to and engage with this community.

Supported 3 Programs

Provided training to 14 Executives and 74 Managers
EMPOWER: Women’s Network with 245+ members
A Partnership To Encourage Hiring of Diverse Candidates
3

6 Leadership Summits & Events

Mainsail’s summits and events bring together leaders from across our portfolio to network, share ideas, and brainstorm strategies to efficiently grow their software companies, all while connecting on a personal level.

Sales & Marketing Growth Summit

October 2023
Phoenix, AZ

CFO Summit

August 2023
Austin, TX

Product & Tech Summit

June 2023
Denver, CO

CEO Summit

May 2023
Laguna Beach, CA

Talent Summit

April 2023
Austin, TX

Payments Workshop

February 2023
Denver, CO

6

Hosted 4 Webinars

Tips for Optimizing Pricing Strategy

VP of Pricing at Mainsail, Brian Russell with Founder/Chief Pricing Officer at Product Tranquility, Dan Balcauski

View >>

How Vertical SaaS is Approaching Fintech

VP of RevOps at Mainsail, Meg Heinz with Co-Founder and CEO at Wisetack, Bobby Tzekin

View >>

Optimizing Customer Health Scores

Operating Principal at Mainsail, Phil Stern with CEO/Co-Founder at ChurnZero, You Mon Tsang

View >>

Lessons from Scaling High-Growth Software

VP of Marketing at Mainsail, Matt Buckley with CMO at Jellyfish, Kyle Lacy

View >>
4

Examples of our Insights Shared

Evaluating Your Pricing Model

By VP of Pricing, Brian Russell

Read More

Hiring the Right Head of Product Management

By VP of Product, Shannon Bauman

Read More

Don’t Give up on DEI

With Breakline Education

Read More
Read More Ideas for Growth

Recognition

Mainsail was proud to receive several awards and accolades across the firm and our portfolio.

Inc. Founder-Friendly Investor
Read More
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GrowthCap Top 25 Growth Equity Firm
Read More
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GrowthCap Top Private Equity Firm
Read More
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Emily Azevedo Named a Top Women Leader in Growth Investing by GrowthCap
Read More
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6 Portfolio Companies made Inc. 5000 2023 list
Read More
>>>

Team Growth

At Mainsail, We Welcomed 11 New Team Members

Shannon Bauman, Vice President of Product

Jess Bicknell, VP of Customer Experience

Tara Zahiri, Investment Vice President

Rachel Byrne, Talent Analyst

Keely Hopkins, Accountant

Henry Prentice, Associate

Raymond Reyes, Associate

Collin Riccitelli, Associate

Regina Riojas, Associate

Anthony Trinh, Associate

Stephanie Toovey, Executive Assistant

Meet Our Team >>

And We Celebrated 3 Promotions

Meg Heinz, Promoted to
VP of Revenue Operations

Tate Cook, Promoted to
Director, FP&A

Apoorva Polisetty, Promoted to
Senior Talent Manager

Giving Back

In 2023, we were pleased to support the following charities:

Our Software Portfolio

Mainsail Partners is proud of all we accomplished in 2023, and we look forward to working with you in 2024!

Investment Parameters Contact Us

The information presented herein does not constitute an offer to sell or the solicitation of an offer to purchase any security. Further, it 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 or of such firms or businesses.  

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.

The 2023 Founder-Friendly recognition presented herein is awarded by Inc. Magazine, a third-party that is not affiliated with Mainsail Partners or an investor in Mainsail Partners-sponsored vehicles, and was awarded on 10/31/23 for 2023. Inc. Magazine independently assessed nominees based on responses to questions on Inc. The number of nominees reviewed for this recognition was not disclosed to Mainsail, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. Inc. Magazine’s recognition is based on its own evaluation and opinion and is not indicative of Mainsail Partners’ future performance and does not reflect the experience of, or any rating by, Mainsail investors. Mainsail Partners paid an application fee to participate in the recognition process. The receipt of compensation influences, and is likely to present a potential material conflict of interest, relating to the rating. There can be no assurance that other providers or surveys would reach the same conclusions as the foregoing. For more information regarding this recognition, please refer to the publication.

The Top 25 Growth Equity Firms of 2022 recognition presented herein is awarded by GrowthCap, a third-party that is not affiliated with Mainsail Partners or an investor in Mainsail Partners-sponsored vehicles. The recognition was awarded on 3/1/23 for the period 2022. GrowthCap assessed nominees based on written responses to questions on GrowthCap’s nomination form. The number of nominees reviewed for this recognition was not disclosed to Mainsail, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. GrowthCap’s recognition is based on its own evaluation and opinion and is not indicative of Mainsail Partners’ future performance, and does not reflect the experience of, or any rating by, Mainsail Partners’ investors. Mainsail Partners paid a fee to distribute the GrowthCap Top 25 Growth Equity Firms of 2022 results. The receipt of compensation influences, and is likely to present a potential material conflict of interest, relating to the rating. There can be no assurance that other providers or surveys would reach the same conclusions as the foregoing. For more information regarding this recognition, please refer to the publication.

The Top Private Equity Firms of 2023 recognition presented herein is awarded by GrowthCap, a third-party that is not affiliated with Mainsail Partners or an investor in Mainsail Partners-sponsored vehicles. The recognition was awarded on 9/18/23 for the period 2023. GrowthCap assessed nominees based on written responses to questions on GrowthCap’s nomination form. The number of nominees reviewed for this recognition was not disclosed to Mainsail, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. GrowthCap’s recognition is based on its own evaluation and opinion and is not indicative of Mainsail Partners’ future performance, and does not reflect the experience of, or any rating by, Mainsail Partners’ investors. Mainsail Partners paid a fee to distribute the GrowthCap Top Private Equity Firms of 2023 results. The receipt of compensation influences, and is likely to present a potential material conflict of interest, relating to the rating. There can be no assurance that other providers or surveys would reach the same conclusions as the foregoing. For more information regarding this recognition, please refer to the publication.

The Top Women Leaders in Growth Investing of 2023 recognition presented herein is awarded by GrowthCap, a third-party that is not affiliated with Mainsail Partners or an investor in Mainsail Partners-sponsored vehicles. The recognition was awarded on 7/26/23 for the period 2023. GrowthCap independently assessed nominees based on feedback received from each nominee’s colleagues, portfolio company executives and/or others in the industry and certain factors, including breadth of experience and longevity in the field, among others. The number of nominees reviewed for this recognition was not disclosed to Mainsail, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. GrowthCap’s recognition is based on its own evaluation and opinion and is not indicative of Mainsail Partners’ future performance, and does not reflect the experience of, or any rating by, Mainsail Partners’ investors. Mainsail Partners paid a fee to distribute the GrowthCap Top Women Leaders in Growth Investing 2023 results. The receipt of compensation influences, and is likely to present a potential material conflict of interest, relating to the rating. There can be no assurance that other providers or surveys would reach the same conclusions as the foregoing. For more information regarding this recognition, please refer to the publication.

The portfolio companies identified by Inc. 5000’s 2023 list do not represent all of the investments made or recommended by Mainsail. The investments listed 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.

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.