Sector Overview: Office of the CFO
Q4 2023
Market Overview
CONFIDENTIAL | 3
B2B
$125T
Modern finance, accounting and payment solutions are growing quickly and serve a large addressable market
Watershed Moment for Office of the CFO
▪ The responsibilities of the CFO have evolved materially in recent years, expanding
beyond traditional core audit and tax functions to include business planning, risk
management & compliance, procurement & sourcing, and investor relations
▪ Organizations are increasingly looking to the Office of the CFO to deliver
meaningful, actionable insights that closely monitor financial performance, drive
growth and fuel innovation
▪ The Office of the CFO software market is highly fragmented and constantly
evolving; we continue to see significant investment and innovation across the
space, with many of the large strategics and private-equity platforms executing
M&A to further bolster their capabilities
Market Backdrop
75%
Reduction in time spent
when automation is
introduced in the AR/AP
and financial close
processes
8-12
Average number of days
required for CFOs to
process an invoice
80%
Of businesses have
invested resources into
B2B payment technology
over the past two years
Sources: IDC, Gartner, Goldman Sachs Investment Research, SCA Research
Key Stats
Massive Market Opportunity
Market Leaders Bullish on Growth Prospects
B2B payments represents a
$100+ trillion market today …
B2C
$30T
B2B
Payments
Mix
… with 60% of payments still made
via manual paper checks
60%
Checks
40%
Other
“This is the Golden Age of accounting software and B2B
payments with a huge market that’s ready for adoption”
René Lacerte
John Morris
“In an increasingly digital world, there continues to be ever-
strengthening demand for technology-first B2B automation
and payment solutions, as enterprise customers aim to
reduce costs and streamline back-office processes”
CONFIDENTIAL | 4
The Office of the CFO represents an underserved opportunity with rapidly increasing digitization and innovation
• Nearly 75% of CFOs still
aggregate spending data,
forecasts and scenarios using
traditional offline tools
• Additionally, approximately
60% of B2B payments are still
made via paper check, creating
opportunity for cost savings
through investment into the
automation of both (i) invoice
workflows and (ii) payment
processing
• Modern software solutions
empower finance teams to
quickly transition from
traditional, paper invoices and
manual processing to
streamlined, automated
processing and electronic
payments
Automation &
Data Driven Solutions
• CFOs are seeking platforms
that can integrate payments
and sync operating data across
departments in order to provide
comprehensive enterprise-wide
insights
• Holistic platforms can be
tailored to meet enterprise
needs through pre-configured
cloud ERP, RPA infrastructure,
and data analytical tools
• Accounting and finance
platforms continue to develop
deeper integrations between
AP and AR vendors to enable a
seamless payments experience
and reduce overall vendor
fatigue across the enterprise
Holistic Platforms
& Integrated Approach
• B2B payments represents a
daily business need and
requires real-time
communication and
coordination among
employees, customers,
suppliers, vendors, and other
stakeholders
• Digitization of payments
remains a powerful trend, with
software-led payment channels
growing ~2x overall payments
industry growth rates
• Over 60% of SMBs routinely
receive late payment for
invoices, creating significant
opportunity to furth digitize
payment journey
Evolving Supply Chain and
Payments Infrastructure
• Timely and efficient cash flow
and expense management is a
core responsibility of the CFO
• ~70% of B2B companies report
working toward automating AP,
AR, treasury and expense
management processes to
better manage cash flow and
accelerate manual processes
• Cutting-edge solutions are
being deployed to help CFOs to
better manage working capital
and provide analytics for
collection management
Heightened Focus on
Cash Flow Management
• The modern office of the CFO
has evolved from a traditional
back-office function into a
meaningful partner and profit
center within the organization
• Nearly 70% of CFOs believe
their role has become more
strategic in recent years, with
many now viewing their
position as a “business partner”
responsible for driving growth
and profitability
• CFOs continue to invest into
technology and analytics that
allow them to better analyze
financial data, streamline
existing workflows, surface
unique insights, and identify
opportunities for growth
Evolution from Cost Center
to Profit Center
Sector Observations & Key Trends
Sources: IDC, Gartner, SCA Research
CONFIDENTIAL | 5
Office of the CFO Technologies
Legacy, On-Premise
Technology
Legacy systems developed by iconic
database providers, typically requiring
significant upfront customization and
on-premise hosting
Best-of-Breed
Point Solutions
Best-of-breed offerings built to
capitalize on verticalization
opportunity and serve range of SMBs
to enterprise clients
Integrated,
Cloud-Based Platforms
Digital, end-to-end solutions designed to
address major pain points and consolidate
increasingly siloed information across
various ERP and internal data systems
Overview of Technology Solutions
Today’s accounting and finance departments utilize a broad mix of legacy technology, cloud-based platforms and robust point
solutions to glean insights and drive efficiencies with within their organizations
CONFIDENTIAL | 6
B2B Payments
Payroll / Benefits Platforms
ERP / Accounting Platforms
Tax Management
Treasury Management
Expense Management
SMB Accounting
Corporate Performance Management
Broad software suites that include
solutions to digitize and automate the
entire lifecycle of corporate
performance management
Budgeting, planning, integrated
financial planning, performance
reporting, forecasting and modelling
Financial consolidation and reporting,
reconciliation management, close
management, subscription
management
Full-stack platforms delivering integrated
suite of payment functionality including
accounts payable/receivable automation
workflows, supply chain financing, as
well as payment coordination
and execution
Legacy and vertical specific platforms designed to manage all day-to-day business
activities of CFOs, including accounting, procurement, project management, risk
management and compliance, and supply chain
Solutions that facilitate payroll and compensation management, time & attendance
management, payroll reporting and integrations, and HR/benefits management
Case specific financial applications
used for automating accounts
payable and invoice processing,
including OCR, invoice matching,
and customer approval workflows
AR and cash collections
management solutions, including
automated invoice generation and
distribution, dispute management,
deduction management, reporting
Solutions that enable enterprises to
address their various tax compliance
(sales, VAT, payroll, property, etc.)
needs within a consolidated platform
Cash flow management and forecasting,
financing and risk management, liquidity
management, reporting and
documentation
Manages P&L reporting, bank account
reconciliation, inventory management,
expense tracking, and invoice generation
Receipt management, travel
management, corporate card issuance
and management, mobile tracking,
reporting and approval workflows
Procure-to-pay software, spend and
procurement analytics, supplier
relationship management (SRM), and e-
procurement
Full-Suite
Budgeting & Planning
Financial Close & Sub. Mgmt.
Integrated Payments
AP Automation
AR Automation
Sourcing / Procurement
How We View the Market Opportunity
Source: SCA Research
CONFIDENTIAL | 7
B2B Payments
Payroll / Benefits Platforms
ERP / Accounting Platforms
Tax Management
Treasury Management
Expense Management
SMB Accounting
Corporate Performance Management
Full-Suite
Budgeting & Planning
Financial Close & Sub. Mgmt.
Integrated Payments
AP Automation
AR Automation
Sourcing / Procurement
Source: SCA Research
Office of the CFO Market Map
CONFIDENTIAL | 8
Financial
Backing
NYSE: AVID
NYSE: BILL
NYSE: FLT
NYSE: GPN
PAR: QDT
NASDAQ: RPAY
NYSE: WEX
HQ
San Jose, CA
Charlotte, NC
Lawrenceville, NJ
San Mateo, CA
Atlanta, GA
Atlanta, GA
Morrisville, NC
Bagneux, France
Atlanta, GA
Portland, ME
No. of
Acquisitions
9
4
11
22
59
44
11
24
14
26
Notable
M&A
Transactions
2022 | Und.
2022 | Und.
2022 | Und.
2021 | $49M
2022 | $14M
2022 | $4.0B
2022 | Und.
2021 | $90M
2021 | $115M
2023 | $250
2021 | Und.
2021 | $675M
2021 | $56M
2020 | $1.5B
2021 | $38M
2021 | $500M
2017 | $218M
2020 | $20M
2021 | $506M
2020 | $1.3B
2021 | Und.
2021 | $2.3B
2019 | Und.
2020 | $122M
2019 | $208M
2021 | $933M
2017 | Und.
2019 | $100M
2020 | $93M
2020 | $575M
2019 | Und.
—
2018 | Und.
2019 | $111M
2017 | $104M
2019 | $24.5B.
2013 | $43M
2015 | $50M
2020 | $50M
2019 | $339
B2B Payments Platforms
The B2B payments sector continues to experience record levels of consolidation activity as fast-growing platforms seek to add
scale, new clients and geographies, as well as capabilities to differentiate themselves in the market
Acquisition Strategy Breakdown: B2B Payments
Source: Pitchbook, SCA Research
Note: “Und.” denotes undisclosed
CONFIDENTIAL | 9
Date
Target
Buyer
Target Description
EV ($m)
EV / Revenue
Nov-23
Mobile and online payment software for contractors
$250
Und.
Nov-23
Capital markets communication software
$95,652
17.8x
Sep-23
Analytics and data for the mortgage, real estate, and capital markets industries
$13,100
7.7x
Jul-23
EDI, e-invoicing, and digital supply chain software
$75
4.3x
May-23
Electronic invoice management for Microsoft Dynamics
$229
9.1x
Feb-23
B2B payment processing software
$1,300
4.6x
Feb-23
Credit card program management software
$275
Und.
Jan-23
Tax automation software designed for accounting firms
$500
8.3x
Dec-22
Tax preparation and filing software
$720
3.0x
Dec-22
Accounts receivable and B2B payments platform
$1,700
8.2x
Dec-22
Cloud-based platform for business spend management
$8,000
9.8x
Oct-22
Automated tax compliance software
$8,400
10.6x
Aug-22
Payment processing software
$4,000
7.4x
Jul-22
Purchase-to-pay and e-invoicing software
Und.
6.3x
Jul-22
Intelligent automation for digital workflow transformation
$1,840
Und.
Jun-22
Cloud-based financial modeling and planning software
$10,700
16.5x
May-22
Accounts payable and integrated payments software
$2,600
5.1x
Mar-22
Process automation software to streamline operational efficiency
$1,477
5.7x
Oct-21
Automation software designed to automate and optimize invoices
$500
Und.
Mean
8.3x
Median
7.7x
Recent M&A Activity
Source: Pitchbook, SCA Research
Note: “Und.” denotes undisclosed
CONFIDENTIAL | 10
Source: Pitchbook, as of November 16, 2023
Note: Multiples greater than 100x and less than 0x denoted as “-”
Numbers in millions, except per share price
Public Company Valuations
Trading Statistics
Trading Multiples
Operating Metrics
Share
Enterprise
EV / Revenue
EV / EBITDA
EV / FCF
Revenue Growth
EBITDA Margin %
Rule of 40
Company
Price
% 52w
Value
LTM
NTM
LTM
NTM
LTM
NTM
LTM
NTM
LTM
NTM
LTM
NTM
Intuit
$555.79
98%
$158,792
11.1x
9.9x
40.2x
24.7x
36.2x
27.7x
13%
14%
27%
41%
40%
56%
Fiserv
125.24
96%
98,681
5.2x
5.1x
12.7x
11.2x
18.6x
22.1x
8%
1%
41%
45%
50%
47%
PayPal
58.26
65%
61,911
2.1x
1.9x
10.7x
7.7x
14.7x
9.7x
8%
8%
20%
25%
28%
33%
FIS
54.46
69%
50,464
4.6x
5.0x
-
12.1x
13.5x
17.2x
35%
-31%
-87%
41%
-52%
10%
Square
56.30
63%
30,788
1.5x
1.3x
-
12.8x
32.8x
14.3x
23%
14%
1%
9%
23%
23%
Global Payments
114.46
88%
45,940
4.8x
4.9x
13.7x
9.7x
17.3x
16.0x
6%
-4%
35%
50%
42%
47%
Fleetcor
235.86
85%
22,919
6.2x
5.5x
11.7x
10.1x
14.5x
16.6x
11%
9%
54%
55%
65%
64%
Paycom
177.11
47%
9,764
6.0x
5.2x
16.7x
12.6x
24.3x
27.8x
26%
12%
36%
41%
62%
53%
Paylocity
154.13
66%
8,423
6.8x
6.0x
32.4x
17.7x
26.1x
30.5x
34%
18%
21%
34%
55%
52%
SAGE
11.91
91%
13,247
5.2x
4.5x
29.8x
18.3x
35.9x
23.2x
14%
15%
20%
24%
34%
39%
Xero
66.22
76%
9,900
10.5x
9.7x
-
35.0x
66.6x
64.5x
23%
15%
1%
29%
24%
44%
WEX
178.37
87%
7,647
3.1x
2.8x
9.5x
6.2x
8.9x
9.6x
12%
7%
32%
44%
45%
52%
Bill.com
59.64
43%
5,632
5.0x
4.6x
-
48.9x
25.5x
25.6x
50%
12%
-15%
12%
36%
24%
Workiva
94.64
82%
5,123
8.4x
7.0x
-
-
-
67.2x
18%
16%
-15%
5%
3%
21%
Paycor
20.72
69%
3,641
6.3x
5.6x
71.7x
17.8x
32.2x
94.9x
27%
17%
9%
31%
36%
48%
Blackline
56.08
72%
3,712
6.5x
5.6x
68.8x
23.6x
44.5x
34.4x
15%
12%
9%
22%
25%
34%
ACI Worldwide
26.07
89%
3,795
2.7x
2.4x
11.7x
9.0x
15.0x
11.0x
-1%
6%
23%
27%
22%
33%
Paysafe
13.31
55%
3,137
2.0x
1.8x
7.8x
6.2x
11.0x
15.5x
6%
8%
26%
29%
31%
37%
Flywire
22.54
63%
2,099
5.6x
4.3x
-
33.8x
54.3x
-
40%
22%
0%
12%
41%
34%
Vertex
26.23
93%
4,024
7.3x
6.3x
78.0x
33.0x
-
70.6x
16%
13%
9%
19%
26%
32%
E2Open
3.34
46%
2,161
3.3x
3.3x
-
10.1x
13.5x
-
8%
-4%
-89%
34%
-81%
30%
PROS
36.15
93%
1,837
6.2x
5.5x
-
-
-
-
10%
10%
-17%
5%
-7%
15%
Zuora
8.28
68%
1,019
2.5x
2.1x
-
18.0x
-
-
12%
12%
-38%
12%
-26%
23%
AvidXchange
9.77
77%
1,693
4.7x
3.8x
-
35.0x
-
49.4x
21%
18%
-10%
9%
11%
27%
RePay
7.19
69%
1,002
3.4x
3.1x
16.6x
7.1x
10.8x
14.4x
9%
4%
21%
44%
30%
48%
Paymentus
16.67
97%
1,910
3.3x
2.6x
48.6x
29.2x
81.3x
43.2x
23%
16%
7%
9%
30%
25%
Expensify
2.19
19%
160
1.0x
1.1x
-
11.4x
18.7x
77.7x
-4%
-4%
-14%
10%
-19%
5%
Mean
5.0x
4.5x
30.0x
18.4x
28.0x
34.0x
17%
9%
4%
27%
21%
35%
Median
5.0x
4.6x
16.7x
12.8x
21.5x
25.6x
14%
12%
9%
27%
30%
34%
Firm Overview
What We Do
Our Target Deal Size
Industry Sweet Spot
Software Capital is a leading independent investment bank
focused on technology companies in the lower middle market
Who We Work With
We work exclusively with founders and
entrepreneurs, avoiding the inherent conflicts
of interest with larger investment banks
We focus on software and internet
companies with innovative business models
Our typical transaction value is between
$20 - $200 million
• Growth equity
• Secondary capital
• Acquisition financing
Growth
Capital
Mergers &
Acquisitions
• Buyouts / Full sale M&A
• Majority recapitalizations
• Add-on acquisitions
• Strategic and
operational guidance
for growth
Corporate
Strategy
Software Capital Overview
100%
Software & SaaS
Advisory Focus
Reputation for
delivering
extraordinary
outcomes
Mission driven
culture with
unparalleled
commitment
Established
relationships and
active dialogue
with key investors
Unique,
data-driven
strategic insight
Singular Focus and Vast Experience Leads to Best-in-Class Results for Our Clients
CONFIDENTIAL | 12
CONFIDENTIAL | 13
Software Areas of Focus
Dedicated Senior Team With Extensive Deal Experience
David McMahon
Managing Director
Michael McMahon
Managing Director
Mergers & Acquisitions
Equity Financing
Investment
Banking
Institutional
Investing
Investment
Banking
Institutional
Investing
has been acquired by
has been acquired by
a portfolio
company of
has been acquired by
a portfolio
company of
a portfolio
company of
has been acquired by
has been acquired by
a portfolio
company of
IQ
Queensborough
Integra Systems
has been acquired by
has been acquired by
has been acquired by
has been acquired by
has been acquired by
a portfolio
company of
received growth financing
from
received growth financing
from
received growth financing
from
received growth financing
from
received growth financing
from
Accounting, Finance & Payments
Analytics & Data Management
Content & Collaboration Mgmt
Cyber & System Security
DevOps & IT Management
Human Capital Mgmt & Payroll
Sales, Marketing, Support
Supply Chain & Logistics
Vertical & Other Software
CONFIDENTIAL | 14
Sell-side Advisor
Sell-side Advisor
Sell-side Advisor
Sell-side Advisor
Sell-side Advisor
Sell-side Advisor
• SafetySkills is a cloud-based
EHS & learning management
software with a robust library
of digital courses and
compliance tracking
• Acquired by HSI, a leading
EHS, training and
compliance software provider
• Positioned SafetySkills
library of OSHA, EHS, and
HR content and software as
an integrated platform for
safety and compliance
• Acquisition strengthens HSI’s
market leadership across
EHS and compliance
offerings
• OnPay Solutions is a cloud-
based accounts payable,
invoice automation, and
processing software
• Acquired by Medius, leader
in accounts payable
automation
• Positioned OnPay as an
integrated payment
processor with market
leading source-to-pay
platform
• Strategic acquisition
strengthens Medius’s US
market footprint and network
of 40 different banking
integrations
• Earth Class Mail is online
platform for managing postal
mail virtually
• Acquired by LegalZoom, the
leading provider of small
business formation solutions
• Marquee deal provides
LegalZoom an entry point
into the large and highly
fragmented virtual address
category
• Accelerates product
roadmap and enables
LegalZoom to expand wallet
share of existing customer
base
• Pinpoint is the leading
provider of expiration date
management solutions for
the food retail industry
• Acquired by Upshop, a
leader in SaaS-based total
store operations for retailers
• Strategic acquisition for
Upshop’s software portfolio
to complement existing item
management solution
(FreshIQ)
• Combination will help
Upshop realize its vision of
digitizing store operations
across the grocery industry
• Inspyrus is a fintech
company that specializes in
transforming accounts
payable to profits
• Acquired by MineralTree,
portfolio company of Great
Hill Partners
• Positioned Insyprus as
mission critical software
provider with highly sticky
enterprise-level customers
• Deal provides MineralTree a
strong back-end software
that allows for real-time
connectivity to customer’s
financial systems
• HomeCEU is a leader in
continuing education for
healthcare professionals with
a focus on therapy
• Acquired by Colibri Group
which provides online
learning solutions for
licensing, continuing
education and professional
development
• Highly strategic deal
providing Colibri with
complementary professional
user base
• Deal enhances Colibri’s
healthcare offering with
premiere continuing
education and training
content
has been acquired by
a portfolio company of
GRC / Training
has been acquired by
a portfolio company of
Payments & Fintech
has been acquired by
Business Mgmt
has been acquired by
a portfolio company of
Office of the CFO
has been acquired by
a portfolio company of
GRC / Training
Recently Completed Transactions
Vertical Software
a portfolio company of
has been acquired by
CONFIDENTIAL | 15
Committed Resources
Pay a one-time, upfront retainer and get
a team that is 100% focused on your
transaction for the life of the relationship
Aligned Incentives
Our success fees scale based on getting
you a better valuation
Pay When You Get Paid
95%+ of our compensation comes when
your deal is closed successfully
Our engagements are simple to understand and
designed to completely align our interests
Working with Software Capital Advisors
CONFIDENTIAL | 16
has been acquired by
a portfolio company of
Case Study: Inspyrus Acquired by MineralTree (Great Hill Partners)
Transaction Profile
Advised Inspyrus on its sale to
Mineral Tree, via its financial sponsor,
Great Hill Partners
• Transaction: Buyout
• Consideration: Not disclosed
• Sector: Office of the CFO
• Sub-Sector: AP automation
Transaction Notes & Rationale
• MineralTree had followed Inspyrus closely for years and believed the Company was well-aligned to the its stated mission of
digitizing the invoice journey
• Inspyrus adds robust product features to MineralTree’s expanding platform, including advanced PO matching, Artificial
Intelligence-enabled predictive coding, and real-time invoice capture
• The combination of capabilities from Inspyrus and MineralTree accelerates the digitization of Accounts Payable and B2B
payments processing across more companies globally
• Twelve months after our transaction closed, the newly combined entity was acquired by Global Payments for $500+ million,
resulting in a significant ‘second bite of the apple’ for the founder who opted to roll some of his proceeds
Inspyrus Profile
• Based in Redwood City, CA, Inspyrus is a leading provider of
SaaS-based platform for automating and monetizing accounts
payable to more than 40 enterprise customers across various
verticals, ERP systems and geographies
• The Company’s platform provides out-of-the-box, real-time
integration with the world’s leading ERP systems, including
Oracle’s E-Business, Oracle’s JD Edwards, Oracle ERP Cloud
and SAP
• Customers process over 1 million invoices per month across
30+ countries and 18+ languages using Inspyrus software
• Large recurring revenue base driven by SaaS, Perpetual
License Update, and Managed Services business model
MineralTree / Great Hill Partners Profile
• MineralTree is a leading provider of Accounts Payable (AP)
and Payment Automation solutions for finance professionals at
middle market enterprises
• MineralTree’s cutting-edge solutions provide customers with
unparalleled visibility and significant cost savings in an
affordable, integrated and secure platform
• Great Hill Partners is a leading private equity firm managing
over $8 billion in capital commitments; the firm primarily
invests in middle-market technology companies and has an
extensive track record of building long-term partnerships with
entrepreneurs and providing flexible resources to help
companies scale
CONFIDENTIAL | 17
Case Study: OnPay Solutions acquired by Medius (Marlin Equity)
Transaction Profile
Advised OnPay Solutions on its sale to
Medius, via its financial sponsor,
Marlin Equity Partners
• Transaction: Buyout
• Consideration: Not disclosed
• Sector: Office of the CFO
• Sub-Sector: B2B Payments
Transaction Notes & Rationale
• Marquee transaction enables Medius to integrate payment processing directly into its source-to-pay platform, enhancing its
customers' operational efficiency and strengthening their anomaly, fraud and risk detection capabilities
• OnPay Solutions' technology strengthens Medius's ability to automate payment processing through its own platform as well
as existing third-party payment partners to simplify and streamline the payments workflow
• The deal also expands Medius's footprint in the domestic US market with the addition of OnPay Solutions' team
• Successful outcome resulting from highly tailored and competitive process as well as significant investor interest across the
rapidly evolving B2B payments category
OnPay Solutions Profile
• Based in Jacksonville, FL, OnPay Solutions is a leading
provider of SaaS-based AP automation solutions
• The Company’s platform helps customers automate their
invoice payments using 'no touch' virtual card, ACH, check and
wire payments
• OnPay’s integrated source-to-pay suite includes a network of
360,000 vendors and 40 different banking integrations
• Highly attractive recurring revenue profile with sticky customer
base of more than 400 customers ranging from mid-sized
companies to some of the most established enterprises and
institutions in the United States
Medius / Marlin Equity Profile
• Medius is a cloud-based accounts payable automation
software created to streamline and efficiently manage the
invoice process
• The Company’s platform is designed to reduce clients manual
work, accelerate invoice processing and unlock greater
financial control and visibility
• Marlin Equity Partners is a premier technology-focused private
equity firm managing over $8.5 billion in capital commitments;
the firm primarily invests in middle-market companies and has
an extensive track record of executing successful M&A and
organic growth strategies
has been acquired by
a portfolio company of
CONFIDENTIAL | 18
Case Study: Pinpoint Software Acquired by Upshop (Prairie Capital)
Transaction Profile
PinPoint Software was acquired
by Upshop, via its financial sponsor,
Prairie Capital
• Transaction: Buyout
• Consideration: Not disclosed
• Sector: Retail Technology
• Sub-Sector: Grocery Technology
Transaction Notes & Rationale
• The combination of capabilities from Pinpoint and Upshop will help accelerate the digitization of total store operations
across the grocery industry
• Pinpoint adds a valuable technology platform and experienced customer support unit to Upshop that will result in additional
solutions to customers that drive food waste reduction and increased profit margins
• In an industry where waste is a top concern, automated proactive expiration date management enables Upshop to increase
the sales and sustainability of the entire retail food shopping experience for their customers through quantification,
analysis, and action
• This was Upshop’s second acquisition following their purchase of ShopperKit in 2021
PinPoint Software Profile
• Pinpoint Software provides an inventory and task management
platform that helps drive operational efficiency and execution
for grocers, retailers, and healthcare institutions
• The company’s flagship product, Date Check Pro, is an
expiration date management software that allows grocery
retailers to facilitate in-store audits, identify expiring products,
and reduce shrink
• Pinpoint helps hundreds of supermarkets eliminate their
expired shrink and provide better products and experiences for
their shoppers
• Pinpoint was founded in 2011 and headquartered in Madison,
WI
Upshop / Prairie Capital Profile
• Upshop provides total store operations software to more than
150+ grocery and convenience stores across more than
200,000+ locations
• Upshop simplifies and streamlines store operations by
connecting fresh, center, eCommerce, and DSD solutions
• Prairie Capital is a Chicago-based private equity firm targeting
investments of $25 million to $45 million in growing companies
across the business & consumer services, education,
healthcare, and industrial technology verticals.
• Since 1997, Prairie Capital has raised over $5 billion of
commitments and invested in nearly 150 businesses.
has been acquired by
a portfolio company of
Mike McMahon
Managing Director
mike@softwarecap.com
(714) 642-9975
David McMahon
Managing Director
david@softwarecap.com
(714) 642-9976
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