Mainsail Partners has made a $6.5 million investment in Netchemia, a provider of cloud-based talent management software for K-12 school districts and institutions. The majority of the $6.5 million investment will be used to accelerate Netchemia’s growth and expand the company’s product offering.
“We are excited to announce a partnership with Mainsail and the next phase of our company’s growth,” said Netchemia co-founder and CEO Carlos Antequera. “This investment will allow Netchemia to accelerate its product development and team-building plans. It was important for us to find an investor who shared our vision and had extensive company-building experience.”
Netchemia is a provider of cloud-based talent management software specifically developed for K-12 educational organizations. The company’s products are used to recruit, hire, develop and retain teachers and school leaders. More than 1,100 K-12 school districts and institutions in 42 states—ranging in size from fewer than 100 students to those with tens of thousands of students—use Netchemia’s software-as-a-service platform. Netchemia was founded in 2001 and is based in Prairie Village, KS, a suburb of Kansas City (www.netchemia.com).
“Carlos and his team recognized the opportunity to leverage technology to improve the process of managing talent for school administrators,” said Stephen Wolfe, a Mainsail Partners principal. “We have a great deal of respect for entrepreneurs like Carlos who have proven they can grow their businesses rapidly and do so profitably. We look forward to working with the team to build the leading K-12 talent management platform.”
Mainsail Partners invests from $5 million to $15 million in companies that are located in the United States and Canada with revenue of $4 million to $50 million and EBITDA of $1 million to $8 million. The firm was founded by Gavin Turner and Jason Payne in 2003 and is based in San Francisco (www.mainsailpartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-3-13