DealCloud, a technology leader for deal management in the private capital markets, announced today that it has closed on a $4.5M growth equity investment led by Cultivation Capital FinTech and Hamilton Lane (NASDAQ: HLNE). All existing investors in DealCloud also participated in the investment, which will be used to fuel DealCloud's continued rapid growth.
"The investment led by Cultivation Capital FinTech and Hamilton Lane with participation by all existing investors is a testament to the growth that DealCloud has experienced and our ability to provide the best technology and services to our clients," said Rick Kushel, CEO of DealCloud.
"DealCloud's broad adoption in the market speaks to the need for a comprehensive platform for deal professionals, rather than simply a generic customer relationship management (CRM). We are excited to be a part of the continued success of the company," said Joe Maxwell, Managing Partner of Cultivation Capital FinTech.
"The private markets continue to suffer from an underinvestment in cutting-edge technology and software solutions," added Erik Hirsch, Vice Chairman & Head of Strategic Initiatives at Hamilton Lane. "In order for firms to successfully manage their growth and maintain best practices, we see investment in technology as a necessity. DealCloud plays a pivotal role in the way firms manage their deal processes and key relationships and we are excited to invest from our balance sheet to support the Company and its management team in their continued growth."
About DealCloud
DealCloud is a pioneer in M&A Software. The Company was formed in 2010 by a team of former deal professionals with deep knowledge of the private capital markets. DealCloud is the global leader in providing deal management, workflow, and technology solutions to all participants in the private capital markets, including private equity and growth capital firms, sell-side banks, publicly traded companies, and debt capital investors. DealCloud is well known for its client service, takes great pride in the delivery of its configurable SaaS platform, and values the strength of its relationships with clients. The DealCloud team understands the pace of deal execution and is committed to working at the same cadence as its clients to deliver fast and accurate outcomes. For more information, please visit www.dealcloud.com.
About Cultivation Capital FinTech Fund
Cultivation Capital FinTech Fund is a venture capital firm managed by a team of seasoned operators. We know what it takes to start, grow, and exit a successful company, and are harnessing that knowledge to develop the next generation of great entrepreneurs. We look for B2B service-enabled SaaS and software companies with a product in the market and a minimum of $1.5M in annual recurring revenues. The Fund focuses on companies in the following verticals: Payments, Private Capital Markets, Asset/Wealth Management, Banking infrastructure, Security and fraud, and Enterprise software. For more information, please visit https://www.ccfintechfund.com/
About Hamilton Lane
Hamilton Lane (NASDAQ:HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 25 years, the firm currently employs more than 290 professionals operating in offices throughout the U.S., Europe, Asia, Latin America and the Middle East. With more than $332 billion in total assets under management and supervision as of December 31, 2016, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com, or follow Hamilton Lane on Twitter: @hamilton_lane.
